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In U.S. undergraduate Engineering curricula, engineering economics is often a required course. It is a topic on the Fundamentals Of Engineering Exam ination, and questions might also be asked on the Principles and Practice of Engineering examination; both are part of the Professional Engineering registration process. Considering the Time Value Of Money is central to most engineering economic analyses. Cash Flow s are ''discounted'' using an Interest Rate , i, except in the most basic economic studies. For each problem, there are usually many possible ''alternatives''. One option that must be considered in each analysis, and is often the ''choice'', is the ''do nothing alternative''. The ''opportunity cost'' of making one choice over another must also be considered. There are also noneconomic factors to be considered, like color, style, public image, etc., and are called ''attributes''.''Engineering Economy'', 11th Ed., Sullivan, Bontadelli, and Wicks, Prentice-Hall, New York, 2000 ''Costs'' as well as ''revenues'' are considered, for each alternative, for an ''analysis period'' that is either a fixed number of years or the estimated life of the project. The ''salvage value'' is often forgotten, but is important, and is either the net cost or revenue for decommissioning the project. Some other topics that may be addressed in engineering economics are Inflation , Uncertainty , replacements, Depreciation , resource Depletion , Taxes , Tax Credits , Accounting , cost estimations, or Capital Financing . TYPICAL ANALYSES
OTHER FUNDAMENTAL ENGINEERING TOPICS
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