Fundamentals of Economics for Applied Engineering

This introduction to economic theory and mathematics for engineering technology, engineering, and industrial technology students is written in plain language with an emphasis on the application of principles. The book has exercises, with a solutions manual for adopting instructors.

Dr. S. Kant Vajpayee is a professor emeritus at the University of Southern Mississippi. He is a distinguished educator, who has served in academia for more than 30 years. He has authored multiple textbooks in the area of engineering economics and computer integrated manufacturing, and he has taught engineering economics since the 1980s. Dr. MD Sarder is a professor and chair of Engineering Technologies at Bowling Green State University. He has worked at the U.S. Air Force Academy as a distinguished research fellow, and as an associate professor and graduate program director at the University of Southern Mississippi. He has authored three books, and has developed a BS program and an MS program in logistics, a research center on logistics trade & transportation, and numerous undergraduate and graduate level courses. He founded a division of Logistics and Supply Chain within the Institute of Industrial & Systems Engineers and has served as the editor in chief for the International Journal of Logistics and Transportation Research.

1. Introduction 2. Cashflows 3. Single payment 4. Multiple payments 5. Payback period 6. Time value of money 7. Rate of return 8. Benefit-cost ratio 9. Comparison 10. Depreciation 11. Income tax 12. Replacement analysis 13. Break even analysis 14. Risk analysis 15. Other considerations