ECONOMICS

[DVINNY]

Do you guys have any advice or shortcuts on the Eng. ECON problems?

for example, when it's a (P/G) problem? Uniform Gradient to Present Worth?

or a Present Value of Future Sum (P/F)? instead of P=F(1+i)^-n

Is there shortcut for these generic calculators we have to use on the exam? I'm using a TI-36X Solar

 

[benbo]

I don't have any advice on short cuts, unless it is one of the calculations where you can use the tables. also, when I am dealing with multiple cash flows, I generally just do them all separately and then add them up.

But i'm not sure you will run into real complicated problems anyway.

I can't speak for civil. On the Electrical exam I think most problems in economics were extremely simple, and I have heard that from people who took the test at three different times.

 

[redrum]

in the econ tables in the CERM.

first column is P/F I wrote down in the table.. "Find P, Given F" to remind me which is what..

i.e you have the future value, what is the present worth.

I never use the i/(1+I)^n-1 type formulas, you should always be able to use the tables I think...

work through that whole section in the cerm, i always draw out a diagram, even for the simple ones.

I dont think they would ask the more complicated ones with gradients and such, but who knows...

 

[DVINNY]

No wonder I failed before, I didn't even know that there are ECON tables back there.

I'm a dumbass.

 

[redrum]

those things are a lifesaver, really no way to do the problems without them, unless you have a financail calculator. which we cant use...

 

[petergibbons]

Yeah, those tables are key...