Class readings will be assigned from the following books:
[EE] Sullivan, W., E. Wicks, and J. Luxhoj. Engineering Economy. 12th ed. East Rutherford, NJ: Prentice-Hall, 2002. ISBN: 9780130673381.
[MS] Ashby, M. F. Materials Selection in Mechanical Design. 3rd ed. San Diego, CA: Elsevier, 2005. ISBN: 9780750661683.
[LC] Bauman, H., and A. Tillman. Hitch Hiker’s Guide To LCA: An Orientation in Life Cycle Assessment Methodology and Application. Lund, Sweden: Studentlitteratur AB, 2004. ISBN: 9789144023649.
|2||Introduction, Time Value of Money, Single Payment Discounting||EE: Chapter 1, sections 2.1, 2.2, and 3.1-3.10.|
|3||Value, Multi-payment Discounting, Non-uniform Cash Flows||
EE: Sections 3.11-3.18.
Bloomberg News. “Toyota Says It Plans Eventually to Offer an All-Hybrid Fleet.” Published in New York Times online, September 14, 2005.
Effective Interest Rates
Evaluating Alternatives, MARR, PW, AW, IRR
|EE: Chapter 4.|
|5||Uncertainty||EE: Chapter 5.|
|6||Comparing Alternatives||EE: Sections 8.1-8.5.|
|7||Dealing with Changing Prices||EE: Chapter 10.|
|8||Combining Concepts||Statistical Resources on the Web: Cost-of-Living. University of Michigan compilation of links on cost of living; many provide useful information on inflation.|
|9||Presentations and Review|
|11||Concepts of Materials Indices, Software Introduction||MS: Chapters 1 and 5, section 2.5.|
|12||Material and Shape Selection||MS: Chapter 11.|
|13||Process Selection, In-class Examples||MS: Chapter 8.|
|14||Presentations and Review|
|15||Using Cost Models: Concepts and Principles||Kirchain, R., and F. Field. “Process-Based Cost Modeling: Understanding the Economics of Technical Decisions.” In Encyclopedia of Materials Science and Engineering. Vol. 2. San Diego, CA: Elsevier, 2001, pp. 1718-27. ISBN: 9780080431529.|
|16||Tackling Variable Costs|
|17||Modeling Fixed Costs|
|18||Presentations and Review|
|LCA (Life Cycle Assessment)|
|20||Introduction: What is the Cost of Materials Usage?|
|21||An Overview of Life Cycle Assessment||LC: Chapter 1.|
|22||Analysis Goal and Scope; Inventory Methods||LC: Chapters 3 and 4.|
|23||Impact Assessment||LC: Chapters 5 and 6.|
|24||Presentations and Wrap-up|