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This course addresses a systematic evaluation of proposed solution to engineering problems. It evaluates the monetory consequences of products, projects and processes that engineers design. The course introduces students to fundamental economics consideration and costs involve in decision making for a production or a project which will be economically acceptable and demonstrate a positive balance of long term benefits over long term costs. The students learn about fundamental cost concepts and costs involve in a production process. Then, money-time relationship (also called time value of money) and concept of equivalence expose students to the value of investment by estimating future costs or revenues. The application of money-time relationship in comparing different alternatives help to choose best solution before investing.
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Unit Pembangunan Sumber dan Metadata
Perpustakaan Tuanku Syed Faizuddin Putra
Universiti Malaysia Perlis
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