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เนื้อหาย่อ : PREFACE What is "Contemporary" About Engineering Economics? Decisions made during the engineering design phase of product development determine the majority of the costs associated with the manufacturing of that product (some say that this value may be as high as 85%). As design and manufacturing processes become more complex, engineers are making decisions that involve money more than ever before. With more than 80% of the total GDP (Gross Domestic Product) in the United States provided by the service sector, engineers work on various economic decision problems in the serv- sector as well. Thus, the competent and successful engineer in the twenty- must have an improved understanding of the principles of science, engineering, and eco- nomics, coupled with relevant design experience. Increasingly, in the new world economy, successful businesses will rely on engineers with such expertise. Economic and design issues are inextricably linked in the product/service life cycle. Therefore, one of my strongest motivations for writing this text was to bring the realities of economics and engineering design into the classroom and to help students integrate these issues when contemplating many engineering decisions. Of course my underlying motivation for writing this book was not simply to address contemporary needs, but to address as well the ageless goal of all educators: to help students to learn. Thus, thor- oughness, clarity, and accuracy of presentation of essential engineering economics were my aim at every stage in the development of the text. Changes in the Fourth Edition Much of the content has been streamlined to provide materials in depth and to reflect the challenges in contemporary engineering economics. Some of the highlighted changes are as follows: Chapter 13 "Real Options Analysis" is new and provides a new perspective on how engineers should manage risk in their strategic economic decision problems. Traditionally, risk is avoided in project analysis, which is a passive way of handling the matter. The goal of the real options approach is to provide a contemporary tool will assist engineers so that they can actively manage the risk involve term projects. Chapter 12 has been significantly revised to provide more probabilistic materials for the analytical treatment of risk and uncertainty. Risk simulation has been introduced by way of using @RISK. chapters have been merged with various materials from othe Chapter 3 on cost concepts and behaviors has been moved to Part III and now appears as Chapter 8 "Cost Concepts Relevant to Decision Making"; it is now part of project cash flow analysis. Chapter 6 on principles of investing is now part of Chapter 4 "Understanding Money and Its Management."' Materials from various chapters have been merged into a single chapter and now appear as Chapter 9 "Depreciation and Corporate Income Taxes" The chapter on the economic analysis in the public sector has been expanded and now appears as Chapter 16 'Economic Analysis in the Service Sector"; this revised chap- ter now provides economic analysis unique to service sectors beyond the government