ABSTRACT
Engineering economics is concerned with problems encountered in making economic decisions for business firms. The increase in complexity of private and public enterprises in recent years requires a systematic evaluation of investment alternatives before a decision is made regarding such problems as the introduction of a new product, the expansion of productive facilities, changes in the product mix, or the adoption of new technology. Engineering economics seeks to provide the analytical framework for decision making from an economic viewpoint, and to advance the engineer's role in the decision process.
