MECH 510 - Advanced Engineering Economy

Prerequisite

ME 410 (Engineering Economy) and STCC 309 (Statistics for Engineers and Scientists Introductory Engineering Economics).

Description

This course was previously numbered ME 510.

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/ME510/

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:

• Engineering Management (M.S., M.E.)
• Industrial Engineering and Operations Research (M.S., M.E., Ph.D.)

Important Information

3 day on-campus workshop will be held,May 23, 24 &25, Friday, Saturday 8:30 am - 5:30 pm and Sunday 8:30 am - 1:00 pm.

Textbooks and Materials

Unless otherwise indicated, textbooks and materials are required and can be purchased at the CSU Bookstore.

1. Advanced Engineering Economics, 10th Ed. (1990)
   Park, Chan S. and Sharp-Bette, Gunter P.
   ISBN: 0-471-79989-0

Instructors

Dr. William Duff
(970) 491-5859
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.

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