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Charles Johnson
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Engineering Economics By Riggs Pdf 158

Engineering Economics by Riggs: A Classic Textbook for Engineering Students

Engineering economics is the branch of engineering that deals with the analysis of the costs and benefits of engineering projects and decisions. Engineering economics helps engineers to evaluate the feasibility, efficiency, and sustainability of their designs and solutions.

engineering economics by riggs pdf 158

One of the most popular and widely used textbooks on engineering economics is Engineering Economics by James L. Riggs, David D. Bedworth, and Sabah U. Randhawa. This book was first published in 1976 and has been updated and revised several times since then. The latest edition is the fourth edition, published in 1996.

Engineering Economics covers the fundamental concepts and methods of engineering economics, such as interest and equivalence, present worth analysis, annual worth analysis, rate of return analysis, benefit-cost analysis, depreciation and taxes, inflation and price change, sensitivity analysis, risk and uncertainty, replacement analysis, and capital budgeting. The book also includes numerous examples, exercises, case studies, and appendices to help students apply the theory to practical problems.

The book is divided into four parts: Part I introduces the basic principles of engineering economics; Part II covers the evaluation of alternatives; Part III deals with accounting for depreciation, taxes, inflation, and risk; and Part IV discusses special topics such as public sector projects, replacement analysis, and capital budgeting.

The book is suitable for undergraduate and graduate courses in engineering economics, as well as for practicing engineers who need to refresh their knowledge or learn new skills. The book is also available in PDF format for online access or download. One of the sources where you can find the PDF version of the book is[^1^] [^2^]. You can also find a related book by Riggs and Thomas M. West titled Essentials of Engineering Economics, which contains the first seventeen chapters of Engineering Economics, on[^3^].

If you are interested in learning more about engineering economics and how it can help you make better engineering decisions, you should definitely check out Engineering Economics by Riggs and his co-authors. It is a classic textbook that has stood the test of time and has been used by thousands of students and engineers around the world.

Engineering economics is not only useful for academic purposes, but also for real-world applications. Engineering economics can help engineers to design and manage projects that are beneficial for society and the environment, as well as profitable for the stakeholders. Engineering economics can also help engineers to cope with the challenges and uncertainties of the engineering profession, such as changing market conditions, technological innovations, ethical issues, and social responsibilities.

Some of the areas where engineering economics can be applied are:

  • Project management: Engineering economics can help engineers to plan, execute, monitor, and control engineering projects effectively and efficiently. Engineering economics can help engineers to estimate the costs, benefits, risks, and uncertainties of different project alternatives, and to select the best one based on various criteria. Engineering economics can also help engineers to use various tools and techniques, such as CPM and PERT, to schedule and coordinate project activities, resources, and deliverables[^2^] [^4^].

  • Forecasting: Engineering economics can help engineers to predict the future demand, supply, price, and profitability of engineering products and services. Engineering economics can help engineers to use various methods, such as trend analysis, regression analysis, time series analysis, and simulation, to analyze historical data and project future scenarios. Engineering economics can also help engineers to evaluate the impact of external factors, such as economic cycles, government policies, consumer preferences, and competitor actions, on engineering outcomes[^2^] [^3^].

  • Value engineering: Engineering economics can help engineers to improve the value of engineering products and services by reducing their costs and increasing their functions. Engineering economics can help engineers to use various techniques, such as function analysis system technique (FAST), to identify and eliminate unnecessary or redundant functions or features that do not contribute to customer satisfaction or profitability. Engineering economics can also help engineers to enhance the quality, performance, reliability, safety, and aesthetics of engineering products and services by adding or modifying functions or features that increase customer value[^2^] [^4^].

Engineering economics is a vital skill for engineers who want to succeed in their careers and make a positive difference in the world. By studying engineering economics, engineers can learn how to make rational and informed decisions that balance technical feasibility, economic viability, and social desirability. c481cea774


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