Engr Econ

[Mike_NC]

I am starting to look over Engr Econ. I found the Solution to the one Engr Econ question in the NCEES manual to not be very thorough... Basically because I have had some econ and accounting course work in college, but not 'engr econ'. I am having problems working my way through the equations and selecting which one is applicable. If anyone has any suggestions, that would be great!

I admit, I have not studied the CERM a whole lot in regard to the engr econ section.. It may have everything I need, the CERM just has so much info, it will take some time to work my way through it to find the applicable sections/equations, etc.. much less how to apply them..

I am assuming the 'typical' questions include choosing between two equipment options (like the NCEES question). Or possibly a break even calculation..

Is this a PM topic or does anyone know if more basic engr econs pop up in the AM?

Thanks,

Mike

 

[ElCid03]

Don't spend a lot of time on the Econ. I would just review the basic concepts and tab the interest rate tables. There are far more important things to study such as operations problems.

 

[Mike_NC]

By 'Operations', you mean problems like #507 in the NCEES manual?

 

[ElCid03]

I'm not familiar with that sample set, any problem that requires you to determine how much work to get done with what resources. For example, you have 100 dumptrucks to haul fill in for a 5000 CY volume of cut working eight hour shifts......focus on these more than the econ.

 

[EnvEngineer]

When I took the exam in april you needed both, I would expect a simple present value or future worth type question and then a more indepth that would evalutate two situations. This may be when to replace equipments, purchase of one type of equipment vs another, or similar. The best way to tackle these are to understand the tables and use the factors (F/P) (P/G) etc. and not try to develop the equations.

There were also problems like elcid discussed and problems with complex building situations, crews painting, lay brick or concrete, that you need to do as well. Ruwan has pretty good coverage on these.