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Book Summary
Applied Engineering Economics Using... by Merwan Mehta is a practical textbook that bridges economic theory and engineering decision-making. It covers cost analysis, cash flow, depreciation, taxes, inflation, and project evaluation with real-world examples. Ideal for engineering students and professionals seeking to justify capital investments and optimize project selection using time value of money and risk assessment.
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About Applied Engineering Economics Using...
Applied Engineering Economics Using... by Merwan Mehta is a comprehensive textbook designed for engineering students and practicing professionals. It presents fundamental economic principles in an engineering context, emphasizing practical application over abstract theory. Key topics include cost estimation, cash flow analysis, time value of money, depreciation, income taxes, inflation, replacement analysis, and project evaluation techniques such as net present value, rate of return, and benefit-cost ratio. The book integrates spreadsheets and real-world case studies to illustrate how to make informed economic decisions for engineering projects. Each chapter includes worked examples, end-of-chapter problems, and review questions to reinforce learning. With a focus on decision-making under uncertainty, it equips readers with tools to assess feasibility, compare alternatives, and optimize resource allocation. This text is suitable for undergraduate courses in engineering economics and as a reference for professionals involved in capital investment planning and project management.
Who should read Applied Engineering Economics Using...?
This book is essential for undergraduate and graduate engineering students taking engineering economics or project management courses. Practicing engineers, project managers, and technical professionals involved in capital investment decisions, cost analysis, or feasibility studies will benefit from its practical approach. Additionally, professionals preparing for engineering licensure exams or seeking to enhance their financial literacy in technical contexts will find it valuable. Instructors can use it as a course text with comprehensive examples and problems.
Pros & Cons
Pros
- ✓ Clear, practical explanations of economic concepts tailored to engineering applications
- ✓ Abundant worked examples and end-of-chapter problems reinforce learning
- ✓ Integration of spreadsheet tools and real-world case studies
- ✓ Covers a broad range of topics from basic time value of money to risk analysis
- ✓ Written by an experienced author with a focus on decision-making
Cons
- ✗ May be too introductory for advanced practitioners seeking deeper theoretical coverage
- ✗ Some readers might find the pace slow if already familiar with basic economics
- ✗ Limited coverage of emerging topics like sustainability economics
- ✗ Examples may not reflect the latest software tools or industry practices
- ✗ No companion website or digital resources mentioned in the description
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Frequently asked questions
Is this book suitable for self-study?
Yes, the book includes numerous worked examples and end-of-chapter problems that make it suitable for self-study, especially for engineering professionals looking to refresh their knowledge.
Does it cover spreadsheet applications?
Yes, the book integrates spreadsheet tools and examples to help readers apply economic analysis using common software.
What level of mathematics is required?
A basic understanding of algebra and elementary calculus is sufficient; the book explains key formulas and focuses on practical application.
Is this book aligned with current engineering economics curricula?
Yes, it covers standard topics found in most undergraduate engineering economics courses, including time value of money, depreciation, taxes, and project evaluation.
Are there solutions to the problems available?
The description does not specify, but typically instructors can obtain a solutions manual from the publisher; students may need to work through problems independently.
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