This course seeks to provide students with a fundamental understanding of economic concepts and principles applicable to engineering.Topics to be covered include an introduction to making economic decisions, supply, demand, and equilibrium in economics. Concept of engineering economics: economic efficiency, engineering efficiency, marginal costs and revenues, opportunity and sunk costs, break-even analysis, economic analysis involving material. Decision-making and value engineering: value engineering procedure, interest formula, and applications in time value of money. Evaluation of alternatives and methods: present and future worth methods, an annual equivalent method, and rate of return method. Sensitivity analysis. Computer-aided engineering economics using spreadsheets.