WHY IS ENGINEERING ECONOMY SO IMPORTANT?
On virtually a daily basis, we all make decisions that affect our future. The
selections we make change our lives in small, and sometimes large, ways.
For example, buying a new shirt for cash in
1. Managers seek to:
a. Increase the sales of their organization at any cost
b. Maximize the potential of their people and coordinate their efforts towards
c. Maximize their personal rewards while satisfying organ
Fourth Management Function
CONTROL means knowing what is actually
happening in comparison to preset standards or
objectives and making any necessary corrections.
to alert the manager to a problem or potential
problem before it becomes critica
SECOND FUNCTION OF MANAGEMENT
McDonald's Corporation: world's largest chain of
hamburger fast food restaurants.
Serves around 68 million customers daily in
Headquartered in the United States,
INDUSTRIAL ECONOMICS and
MANAGEMENT (ME 491)
Management, Managerial Planning and Decision Making
Organising, Leading and Controlling
Fundamentals of Accounting and Costing
Third Function of Management
Motivating employees to attain goals,
Managing group processes (coordinating and
Dealing with conflicts and change.
Leadership: is the ability to influence people to willingly
follow ones guidance
All managers are decision-makers.
To carry out the goals of their organizations, managers
must have an understanding of how decisions are made
and know what decision-making tools are available.
To a great extent, the s
Nominal and effective interest
rates and continuous
Since many real world problems involve
payments and compounding periods which
are not equal to one year, it is necessary to
understand nominal and effective interes
Problem Set 1: Fun with Supply and Demand!
All problems are due in class next week. Be complete and succinct. Feel free to work together, but submit your own
Briefly analyze in terms of supply and demand the effects upon th
Problem Set Chapter 9 Solutions
1. Ch 9, Problem 1
Last year, the account ledger for an owner of a small drugstore showed the
following information about her annual receipts and expenditures;
Wages for hired
Below are questions selected from end of chapter questions form the books used for this course.
You are required to answer all the questions. You are required to submit your assignment on or
before SATURDAY, FEBRUARY 11, 2017. I will not accept any assign
Homework Problem Set #8
The Economics of Network Goods
1. The Economics Network Goods 1: Costs. Suppose J. B. No signs a new Rap
Group BadMSmiles to record a disc for exclusive release over the internet. J.B. pays the
group $92,000 up front
Homework Problems #3: Answers-Part 1
Using the material on migration developed in lecture,
answer the following:
Assume that equilibrium wage differentials have been
established between U.S. and Mexican low-wage labor
Econ 8181, Topics in Microeconomics: Welfare Economics
Homework Problem Set #1
J. S. Chipman
Fall Semester 2004, First Half
1 Excise taxes and welfare
Suppose a simple generalequilibrium economy with two commodities produced according
to the Ricardian pro
Homework Problems: Part 5
Prof. Steve Fazzari
Due: Wednesday, April 10
1. One could easily find either of the following explanations in the press for strong U.S.
economic performance during the 1990s:
A. Low unemployment and a s
Due Wednesday, November 11
1. Consider the endogenous growth model with human capital discussed
in class. One sector produces a homogeneous output good, which is
transformed one-for-one into consumption and investment.
Econ 4960, Topics in Economics: Welfare Economics
Homework Problem Set #1
J. S. Chipman
Spring Semester 2002
Determination of competitive equilibrium
Suppose there are two individuals trading two commodities. Individual 1s preference relation R1 over co
Information for students and parents:
Throughout the year your Economics Teacher will set a number of pieces of homework
from this booklet.
If you lose this booklet then you can find a pdf version on the Business &
Homework Set #2
A. (Autarky) Firm A in the US is the only seller of wine there. Let QAUS be Firm As
sales in the US where demand is given by 6 (1/8)QAUS. Firm As costs are 1 per unit.
A(QAUS) = (6 (1/8)QAUS)A QAUS QAUS
What value of QAUS max
Economics 4304 Homework Set WWW1
I. An Introduction to the Panel Study of Income Dynamics
Point your Web browser to
A. Under the PSID Guide link, read the Overview through Core Content sections
Answers to Problem Set 4
Dividend Problem: For the questions below, assume that the asset in question is a bond
with a two year maturity which will pay $100 at the end of the first year and $100 at the
end of the second year.
(This homework will be due in class on July 8.)
1. Chapter 6, Exercise 3 (page 194).
2. Chapter 6, Exercise 8 (page 195).
3. Consider a simple economy, with just three occupations: subsistence producer,
IEOR 4003 INDUSTRIAL ECONOMICS
Solution for Homework Set 2.
1. The equal payment amount A for a loan of size B is calculated by setting A =
B(A/P, ib , N ). Substituting the values given in the problem,
A = 100, 000(A/P, 0.5%, 360)
2. We write
Homework Set January 29, 2016
Graded problems are in red
Problem 2 Each roll of one die has 6 possible outcomes. Since there are 4 rolls,
there are 64 = 1, 296 possible outcome sequences.
Problem 4 If each of the boys can play any inst
Homework Set #7
Due: Wednesday, November 21
1. Exercises 3 through 6 from page 359 of the textbook.
2. The current (11/13/12) interest rate on a 10-year Treasury bond is 1.59% and the current rate on a
20-year bond is 2.31%. If you
ECON 436 - Behavioral Economics
University of Arizona - Fall 2016
Tuesdays and Thursdays 11:00AM-12:15PM (MCLND 129)
Course Website: http:/jnromero.com/courses/2016/ECON436/
This course is an introduction to behavioral economics: the