MECH 510 - Advanced Engineering Economy
2 Credits
Delivery/Location: Online
Prerequisite
MECH 410 (Engineering Economy Principles/Calculations) and STAT 315 (Statistics for Engineers and Scientists).
Description
Continuous compounding, capital budgeting models including the Lorrie-Savage Linear Programming formulation, capital rationing, lending and borrowing, multi-criteria optimization, utility theory, risk attitudes, preference and ordering rules, certainty equivalence, stochastic dominance, portfolio theory, simulation, decision tree analysis, value of information, sensitivity analysis, certainty equivalents, replacement analysis.
This course consists of two required parts: a mandatory three-day workshop on the CSU campus. Dates listed under Important Information .
For additional information see the MECH 510 Web page at: http://www.engr.colostate.edu/MECH510/
The workshop will be held in the Lockheed-Martin Design Laboratory, B203 Engineering.
Online coursework continues through the summer session.
This course can be applied towards the:
Important Information
3 day on-campus workshop will be held May 30 - June 1. The first two days will be 8:30 - 5:30 and the third day will be 8:30 - 1:30 p.m.
Textbooks and Materials
Textbooks and materials can be purchased at the CSU Bookstore unless otherwise indicated.
Optional
- Advanced Engineering Economics, 10th Ed. (1990)
Park, Chan S. and Sharp-Bette, Gunter P.
ISBN: 0-471-79989-0
Instructors
Dr. William Duff
bill@engr.colostate.edu
Professor William Duff earned his Ph.D. in Industrial Engineering from Stanford University. He is the Professor-in-Charge of the Industrial Engineering and Operations Research and Engineering Management graduate programs in the Mechanical Engineering Department at Colorado State University, and has over 40 years of experience in optimization, quality management, simulation, and other Industrial Engineering areas.
