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Engineering Economics


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#1 r_mojo1

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Posted 13 November 2011 - 06:56 AM

I'm taking the April exam next year and just started to cover the Engineering Economics Chapter in the MERM. Somehow i find it confusing and not sure if I should spend a lot of time reviewing this chapter.

If you already took the PE, how much of this material was on the test and how much time did you spend on the chapter.


Seabee.

#2 Surfer357

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Posted 13 November 2011 - 07:44 AM

There will always be a few economics/operations/management type problems on the exam. I spent a couple of days on this at the end of my studying after covering all of the more core technical topics. That was enough I felt I could muscle my way through on the exam but if I have to do this again I'll spend a little more time on these topics as they seem like easy points if you've done the work to understand a few principles. Guess that can be said of any question though.

Now that it's over I'm actually planning to go back and read through the chapters covering those topics more, regardless of whether I pass or not. There was a lot of interesting info in there that I didn't have time to study before the exam but I still think will be beneficial as a practicing engineer.

#3 IlPadrino

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Posted 14 November 2011 - 04:49 PM

I'm taking the April exam next year and just started to cover the Engineering Economics Chapter in the MERM. Somehow i find it confusing and not sure if I should spend a lot of time reviewing this chapter. If you already took the PE, how much of this material was on the test and how much time did you spend on the chapter. Seabee.


Seabee,

If you're finding it confusing, you're not doing it right! Let me see if I can dig out my cheat sheet for these problems.

#4 tmacier

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Posted 14 November 2011 - 05:43 PM



Seabee,

If you're finding it confusing, you're not doing it right! Let me see if I can dig out my cheat sheet for these problems.


I could not agree with this more - this is easy stuff compared to other areas of the ME program.

This should be the "give me's" if they appear on the exam.

If reviewing his cheat sheets doesnt help maybe starting from scratch studying this area would prove useful.

Good luck

Tim

#5 aneesu786

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Posted 14 November 2011 - 06:11 PM

Don't put too much emphasis on engineering economic.

Just concentrate on the very basics. E.g. Present value, future value, salvage value, and interest rate tables.

Don't study too much in-depth on taxes, book value, amorization...etc

Study your afternoon depth material.

#6 thwlruss

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Posted 14 November 2011 - 06:26 PM

I also found it challenging at first but after some practice I got it. It just takes work and patients.

#7 r_mojo1

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Posted 15 November 2011 - 01:21 AM

I'm taking the April exam next year and just started to cover the Engineering Economics Chapter in the MERM. Somehow i find it confusing and not sure if I should spend a lot of time reviewing this chapter. If you already took the PE, how much of this material was on the test and how much time did you spend on the chapter. Seabee.


Seabee,

If you're finding it confusing, you're not doing it right! Let me see if I can dig out my cheat sheet for these problems.


padrino,

Thanks for the positive feedback. For sure, if these are the give away questions, I don't want to pass them up. Were u able to find your cheat sheets?
I have to pass this examn in April, if I don't I will not have another chance to take til 2013, thanks to a year long deployment to Afghanistan next may.

Thanks,

Seabee.

#8 r_mojo1

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Posted 15 November 2011 - 01:49 AM

I have the MERM practice problems, should i also get the NCEES practice test. I've been looking for it but it's hard to find.

#9 aneesu786

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Posted 15 November 2011 - 02:50 AM

Get the NCEES practice exam, definitely. It will help you gauge your test-taking skills for an actual PE exam. But don't expect the problems to be the same or remotely same. However its a good practice to take as the style of questions and difficulty is comparable to the actual test.




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