Engineering Economics: Financial Decision Making for Engineers, 7th edition

For courses in Engineering Economics.

Canadian engineers have a unique set of circumstances that warrant a text with a specific Canadian focus. Canadian firms make decisions according to norms and standards that reflect Canadian views on social responsibility, environmental concerns, and cultural diversity. This perspective is reflected in the content and tone of much of the material in this text.

Engineering Economics: Financial Decision Making for Engineers is designed for teaching a course on engineering economics, and intended to match engineering practiced in Canada today. It recognizes the role of the engineer as a decision maker who has to make and defend sensible recommendations. Such choices must not only take into account a correct assessment of costs and benefits, they must also reflect an understanding of the environment in which the decisions are made.

Hallmark features of this title

• Engage! boxes near the beginning and end of each chapter recount the fictional experiences of a young engineer at a Canadian company. These vignettes reflect and support the chapter material. The first box in each chapter usually portrays one of the characters trying to deal with a practical problem. The second box demonstrates how the character has solved the problem by applying material discussed in the chapter above. 
• Close-Up boxes in the chapters present additional material about concepts that are important but not essential to the chapter.
• Case in Point boxes present material relevant to the appropriate chapter. The issues raised can be difficult, curious, and possibly disquieting. There may be no obvious “right” answer or “correct” application of principles. Students are invited to challenge rigidity, and encouraged to exercise flexibility in their problem- solving approaches. 

New and updated features of this title

• As the world shifts to a greater reliance on digital media, it is appropriate that this text evolves as well. This seventh edition is the first fully digital version of Engineering Economics. Instructors and students will find that, although the medium has changed, the content is fully consistent with prior editions.
• A new section on calculation of levelized cost has been added to Chapter 5. This method has become very popular in recent years, especially in studying the feasibility of energy resource planning projects.
• Chapter 13, “Qualitative Considerations and Multiple Criteria,” has been restored to the text. This topic has become more critical as a tool for engineers in recent years as engineers have taken on more responsibility for managing decisions in the public interest.
• Some educators have reported that students have trouble seeing and appreciating the relevance of the content covered in the Engineering Economics course. We have added a completely new set of experiential learning simulations that provide a novel way to integrate material across chapters and to help students engage more deeply with the course content.