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Why ENCE 422

While engineering deals with how to solve scientific problems, engineers must be award of economic and regulatory constrains as well as nontechnical barriers to determine the optimum way of solving engineering problems. The best solutions are not always the best design with the highest quality but also the ones which are cost effective and efficient. This course helps students master these concepts and make economically sound selection of projects or design alternatives.

ProfessorQingbin Cui, PhDQingbin Cui, PhDTAXiaoyu Liu, MSXiaoyu Liu, MSStats Credits 3 Offered* Fall On-Campus, Spring On-Campus, Summer Online Prequisite Permission


Time value of money and Equivalence

Introduction to the fundamental concepts of engineering economic analysis

Project evaluation

Process, criteria, data requirements, and use of project economic analysis

Selection of discount rate

How to determine appropriate discount rate to reflect the project capital structure

Risk and uncertainty in project evaluation

Incorporation of risk and uncertainty into the project feasibility analysis

Financial statements

How to read and analyze balance sheet, income statement, and cash flow statement

Accounting process

Transfer business operations and transactions into financial statements

Project cash estimation

Depreciation and equipment cost, project overhead charge

Case Study

A comprehensive case study for students to apply the concepts and methods learned to project evaluation

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Offered: Fall On-Campus, Spring On-Campus, Summer Online*
Week 1Time Value of MoneyWeek 2Interest FormulasWeek 3Present Worth AnalysisWeek 4Rate of Return AnalysisWeek 5Other Analysis TechniquesWeek 6MARR and UncertaintyWeek 7Semester review to dateWeek 8Mid Term ExamWeek 9Accounting System IWeek 10Accounting System IIWeek 11Accounting ProcessWeek 12Financial Statement AnalysisWeek 13Job Cost AccountingWeek 14Job Cost AccountingWeek 15Case StudyWeek 16Final Exam

*All course content, including schedule, topics, and books are subject to change semester-to-semester. Course costs are dependent on students' individual situations, including but not limited to, online vs on-campus enrollment, in-state vs out-of-state enrollment, and scholarships. Not all books on this page may be required readings and additional readings may be assigned. Please check the UMD Schedule of Classes for most up to date semester offerings. Instructors give students specific semester details once they are enrolled.