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Engineering economics provides a systematic framework for evaluating the economic aspects of competing design or project alternatives. Topics include: cost-driven design economics, break-even analysis, money-time relationships and equivalent worth, rates of return, cost estimation, pricing strategy, depreciation and taxes, inflation, foreign currency exchange rates, life cycle analysis, benefit/cost ratio analysis, replacement analysis, dealing with uncertainty, probabilistic risk analysis, capital financing and cost of capital, and financial statement analysis. Case studies apply these topics to real-world problems.