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.
| LEC # | TOPICS | READINGS |
|---|---|---|
| 1 | Introduction | |
| Engineering Economics | ||
| 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. |
| 4 |
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 | |
| 10 | Exam 1 | |
| Materials Selection | ||
| 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 | |
| Cost Modeling | ||
| 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 | |
| 19 | Exam 2 | |
| 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 | |
