Engineering Economics - Fundamentals

Each professional engineering regulatory board across Canada has different CPD requirements, and some boards require strictly technical CPD courses related to your discipline. Courses in the area of Business Skills, Firm Management, or Personal Development may not qualify. Check your regulator's criteria to confirm the courses you need to fulfill your provincial requirements.

In Engineering Economics - Fundamentals , you'll learn ...

• Time value of money
• Discount rate
• Inflation
• Depreciation

Overview

The "dollars and cents" business side of Engineering often doesn't receive the emphasis that employers would like. While engineers typically work towards a goal of finding the most efficient solution to a problem, in the business world, "efficiency" often means the least-cost solution. Engineering Economics provides the tools for determining the most cost-effective alternative in an organized fashion.

In this course the student will learn some of the fundamentals of Engineering Economics. This topic is relevant to any engineer who must consider cost in his or her decisions.

After completing this course, the student should understand time value of money calculations, the effects of inflation, the accounting concept of depreciation, and how to recognize and organize project cash flows.

Specific Knowledge or Skill Obtained

This course teaches the following specific knowledge and skills:

• Time value of money
• Discount rate
• Inflation
• Depreciation
• Project cash flows

Certificate of Completion

You will be able to immediately print a certificate of completion after passing a multiple-choice quiz consisting of 12 questions. CPD credits are not awarded until the course is completed and quiz is passed.