Contemporary Engineering Economics, 3rd Edition(Paperback)

Book Description

Contemporary Engineering Economics, 3rd Edition(Paperback)

About this Title:

As in the first two editions, Park's Contemporary Engineering Economics, 3e stimulates student enthusiasm and imagination with the use of real-world applications and contexts throughout the book in chapter opening scenarios, homework problems, and self-test questions.
New features in the third edition:
All sections are updated to reflect the latest tax laws, interest rates, and other financial developments.
The chapters are now organized into five parts. Three new chapters (Chapters 2, 3, and 6) have been added.
Chapter 2 (Understanding Financial Statements) introduces the basics of business language, known as financial accounting, so that engineers can understand and speak in a common language when it comes to making a variety of business decisions.
Chapter 3 (Cost Concepts and Behaviors) covers the various cost definitions as well as their behaviors in decision making. In particular, it discusses the marginal concept, which is the basis for many economic decisions.
Chapter 6 (Principles of Investing) unravels the mysteries of the financial markets—the language, the players, the strategies, and above all, the risks and rewards of investments, as well as their ups and downs.
Chapter 7 (Present Worth Analysis) streamlines the principles of comparing mutually exclusive projects in detail.
Chapter 14 (Project Risk and Uncertainty) has been expanded to include decision tree analysis.
Chapter 15 (Replacement Decisions) has been divided into two parts: The first partintroduces the basic replacement decision problems without considering the effects of income taxes, whereas the second part revisits the same decision problems with income tax consideration.
A comprehensive book website has been developed for study guides and additional information, as well as student and instructor resources. The section, "Computer Notes," previously appearing as an end-of-chapter feature, is now consolidated onto the website. Various spreadsheets can be downloaded from the website and opened directly in Microsoft® Excel for Windows.

Table of Contents
Pt. 1 Financial and Cost Information 1
Ch. 1 Engineering Economic Decisions 2
Ch. 2 Understanding Financial Statements 26
Ch. 3 Cost Concepts and Behaviors 60
Pt. 2 Money and Investing 95
Ch. 4 Time Is Money 96
Ch. 5 Understanding Money and Its Management 178
Ch. 6 Principles of Investing 242
Pt. 3 Evaluating Business and Engineering Assets 275
Ch. 7 Present Worth Analysis 276
Ch. 8 Annual Equivalent Worth Analysis 344
Ch. 9 Rate of Return Analysis 396
Pt. 4 Development of Project Cash Flows 447
Ch. 10 Depreciation 448
Ch. 11 Corporate Income Taxes 492
Ch. 12 Developing Project Cash Flows 524
Ch. 13 Inflation and Its Impact on Project Cash Flows 582
Pt. 5 Special Topics in Engineering Economics 629
Ch. 14 Project Risk and Uncertainty 630
Ch. 15 Replacement Decisions 692
Ch. 16 Capital Budgeting Decisions 756
Ch. 17 Economic Analysis in the Public Sector 798
App. A Computing IRR for Nonsimple Investments 833
App. B: Simulation 853
App. C Electronic Spreadsheets: Summary of Built-In Financial Functions 867
App. D Interest Factors for Discrete Compounding 873
Answers to Self-Test Questions 903
Index 911