MECH 510 - Advanced Engineering Economy

Prerequisite

MECH 410 (Engineering Economy Principles/Calculations) and STAT 315 (Statistics for Engineers and Scientists).

Description

Continuous compounding, capital budgeting models including the Lorrie-Savage Linear Programming formulation, capital rationing, lending and borrowing, multi-criteria optimization, utility theory, risk attitudes, preference and ordering rules, certainty equivalence, stochastic dominance, portfolio theory, simulation, decision tree analysis, value of information, sensitivity analysis, certainty equivalents, replacement analysis.

This class is offered online in a webinar-style format and can be accessed synchronously or asynchronously. Synchronous means you can log on live and participate in the class as it is occurring on campus, but participation in this format is not required. Asynchronous means you can access the video recording of the class sessions whenever it is convenient for you.

For additional information see the MECH 510 Web page at: http://www.engr.colostate.edu/MECH510/

This course can be applied towards:

• Mechanical Engineering (M.E.)

Textbooks and Materials

Textbooks and materials can be purchased at the CSU Bookstore unless otherwise indicated.

Required

• Advanced Engineering Economics, 10th Ed. (1990)
  Park, Chan S. and Sharp-Bette, Gunter P.
  ISBN: 0-471-79989-0

Instructors

Dr. William Duff
bill@engr.colostate.edu

Professor William Duff earned his Ph.D. in Industrial Engineering from Stanford University. He is the Professor-in-Charge of the Industrial Engineering and Operations Research and Engineering Management graduate programs in the Mechanical Engineering Department at Colorado State University, and has over 40 years of experience in optimization, quality management, simulation, and other Industrial Engineering areas.