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1、Fundamentals of Engineering Economics1(c) 2001 Contemporary Engineering EconomicsIntroductionLecture No.12(c) 2001 Contemporary Engineering EconomicsYour Goal -Beer & Pretzels Rich at the age of 60nYour current age: 20 years oldnAmount of savings desired: $1millionnInterest earned on your savings: 1
2、2%nRequired monthly savings (compounded monthly): $853(c) 2001 Contemporary Engineering EconomicsMonthly Savings Required (to save $1M at age 60) Starting AgeRequired Monthly Savings (compounded monthly) 12%20$8530$28640$1,01050$4,3474(c) 2001 Contemporary Engineering EconomicsConclusion?Start savin
3、g Early!5(c) 2001 Contemporary Engineering EconomicsReturns from Various Investment ClassesAverage Annual Return 1970-1997Best YearWorst yearU.S. Stocks13.0%37.6% (1995)-26.5% (1974)International Stocks12.7%39.4% (1993)-26.2% (1974)Cash Equivalent6.8%14.1% (1981)3.0% (1991)Real Estate8.8%20.5% (1979
4、)-5.6% (1991)U.S. Bonds9.3%33.5% (1982)-5.6% (1994)6(c) 2001 Contemporary Engineering EconomicsTable of ContentsnChapter 1 Engineering Economic DecisionsnChapter 2 Time Value of MoneynChapter 3 Understanding Money ManagementnChapter 4 Equivalence Calculations under InflationnChapter 5 Present-Worth
5、AnalysisnChapter 6 Annual Equivalence AnalysisnChapter 7 Rate-of-Return Analysis7(c) 2001 Contemporary Engineering EconomicsTable of ContentsnChapter 8 Accounting for Depreciation and Income TaxesnChapter 9 Project Cash Flow AnalysisnChapter 10 Handling Project UncertaintynChapter 11 Replacement Dec
6、isionsnChapter 12 Benefit-Cost AnalysisnChapter 13 Understanding Financial Statements8(c) 2001 Contemporary Engineering EconomicsTable of Contentsn第一部分 理解货币及其管理n 第一章 经济决策n 第二章 货币的时间价值n 第三章 货币管理n 第四章 通货膨胀下的等值计算n第二部分 企业与工程资产的评估n 第五章 现值分析n 第六章 年金等值分析n 第七章 收益率分析9(c) 2001 Contemporary Engineering Economi
7、csTable of Contentsn第三部分 现金流n 第八章 折旧和所得税会计n 第九章 项目现金流量分析n 第十章 项目不确定性处理n第四部分 工程经济学中的具体问题n 第十一章 重置决策n 第十二章 收益成本分析n 第十三章 财务报表10(c) 2001 Contemporary Engineering EconomicsChapter 1 Engineering Economic DecisionsRational Decision- making Process The Engineers Role in Business Types of Strategic Engineeri
8、ng Economic Decisions Fundamental Principles in Engineering EconomicsBose Corporation11(c) 2001 Contemporary Engineering EconomicsChapter Opening Story - Bose CorporationnDr. Amar Bose, a graduate of electrical engineering, an MIT professor, and Chairman of Bose Corporation.nHe invented a directiona
9、l home speaker system that reproduces the concert experience.nHe formed Bose Corporation in 1964 and became the worlds No.1 speaker maker.nHe became the 288th wealthiest American in 2002 by Forbes magazine.12(c) 2001 Contemporary Engineering EconomicsEngineering Economics Overview Rational Decision-
10、Making Process Economic Decisions Predicting Future Role of Engineers in Business Large-scale engineering projects Types of strategic engineering economic decisions13(c) 2001 Contemporary Engineering EconomicsRational Decision-Making ProcessRecognize a decision problemDefine the goals or objectivesC
11、ollect all the relevant informationIdentify a set of feasible decision alternativesSelect the decision criterion to useSelect the best alternative14(c) 2001 Contemporary Engineering EconomicsWhich Car to Lease? Saturn vs. HondaRecognize a decision problemDefine the goals or objectivesCollect all the
12、 relevant informationIdentify a set of feasible decision alternativesSelect the decision criterion to useSelect the best alternativenNeed a car nWant mechanical security nGather technical as well as financial datanChoose between Saturn and HondanWant minimum total cash outlaynSelect Honda15(c) 2001
13、Contemporary Engineering EconomicsFinancial Data Required to Make an Economic Decision16(c) 2001 Contemporary Engineering EconomicsEngineering Economic DecisionsPlanningInvestmentMarketingProfitManufacturing17(c) 2001 Contemporary Engineering EconomicsPredicting the FuturenEstimating a Required inve
14、stmentnForecasting a product demandnEstimating a selling pricenEstimating a manufacturing costnEstimating a product life18(c) 2001 Contemporary Engineering EconomicsCreate & Design Engineering ProjectsEvaluate Expected Profitability Timing of Cash Flows Degree of Financial RiskAnalyze Production Met
15、hods Engineering Safety Environmental Impacts Market AssessmentEvaluate Impact on Financial Statements Firms Market Value Stock PriceRole of Engineers in Business19(c) 2001 Contemporary Engineering EconomicsPresentFuturePastEngineering EconomyAccountingEvaluating past performanceEvaluating and predi
16、cting future eventsAccounting Vs. Accounting20(c) 2001 Contemporary Engineering EconomicsTwo Factors in Engineering Economic DecisionsThe factors of time and uncertainty are the defining aspects of any engineering economic decisions21(c) 2001 Contemporary Engineering EconomicsA Large-Scale Engineering Pr
