Fundamentals of Engineering Economic Analysis, 2nd Edition

Book Cover

Fundamentals of Engineering Economic Analysis, 2nd Edition

By John A. White, Kellie S. Grasman, Kenneth E. Case, Kim LaScola Needy, David B. Pratt

Fundamentals of Engineering Economic Analysis provides an approach that uniquely engages and supports students. Many dynamic resources are integrated to develop their knowledge and understanding, build confidence, stay motivated, and prepare for decision making in a real-world context. The new edition adds hundreds of practice problems with show/hide solutions/answers, doubles an already rich video-based pedagogical support, includes a new set of case studies, and adds a chapter on cost estimation.

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Excel Tools

Integrated Excel Tools

Full integration of Excel® into the student’s learning environment, along with additional videos, to prepare help students master functions in excel, preparing them for real-world readiness.

Practice Problems

Abundance of Practice Problems

Includes a set of nearly 1,500 problems and questions instructors can use in auto-graded assignments.

Concept Checkpoint

Concept Checkpoints

Supports a broad spectrum of engineering students with improved in-chapter pedagogical features, aligning all text content and resources to learning objectives, while providing Reading Review questions to ensure student comprehension along the way.

    Features Include:

  • Provides a complete “Out of the Box” online course to be implemented or modified as needed.
  • Adds 16 comprehensive case studies to demonstrate core principles in complex, applied scenarios.
  • Offers a fully integrated approach to link the traditional “textbook” content to a world of digital teaching and learning resources through Media-Rich, Integrated Learning.
John White

John A. White is Distinguished Professor of Industrial Engineering and Chancellor Emeritus at the University of Arkansas. Over a 56-year period, he taught engineering students at Ohio State, Virginia Tech, Georgia Tech and Arkansas. He was elected to the National Academy of Engineering in 1987. He served as President of the Institute of Industrial (and Systems) Engineers (1983-4). He also served on the boards of directors for Eastman Chemical Company, Russell Corporation, Motorola, JB Hunt Transport Services, and Logility. The recipient of ASEE’s National Engineering Economy Teaching Excellence Award, he also received IISE’s Wellington Award for significant contributions to engineering economy.

Kellie Grasman

Kellie S. Grasman is a Lecturer in the Department of Engineering Management and Systems Engineering at Missouri University of Science and Technology. She holds a BS in Mechanical Engineering, an MEng in Manufacturing, an MS in Industrial and Operations Engineering, and an MBA all from the University of Michigan. She began teaching in 2001 after spending several years in industry positions. She has received numerous grants to support research related to the application of technology in engineering education. She received the IISE Engineering Economy Teaching Award in 2016 and the 2018 Nexty Award for Best Online Course.

Kim LaScola Needy

Kim LaScola Needy is a Professor of Industrial Engineering and serves as Dean of the Graduate School and International Education at the University of Arkansas. She received her B.S. and M.S. degrees in Industrial Engineering from the University of Pittsburgh, and her Ph.D. in Industrial Engineering from Wichita State University. She previously held an academic appointment at the University of Pittsburgh and served as the Industrial Engineering Department Head at the University of Arkansas. She is a Fellow and Past President of both the Institute of Industrial & Systems Engineers (IISE) and the American Society for Engineering Management (ASEM), a Fellow of the American Society for Engineering Education (ASEE), and a member of the American Production and Inventory Control Society (APICS) and the Society of Women Engineers (SWE). Dean Needy is a licensed Professional Engineer in Kansas.

Kenneth E. Case is Regents Professor Emeritus of Industrial Engineering and Management at Oklahoma State University. He began his academic career at Virginia Tech and has worked and consulted extensively with industry for 40 years. He was elected in 1990 to the National Academy of Engineering and to the International Academy for Quality. He also served as President of the Institute of Industrial (and Systems) Engineers (1986-7) and the American Society for Quality (2003-4); in both he has received their highest award for service. He is also a proud recipient of the Wellington Award for significant contributions to engineering economy.

David B. Pratt is Associate Professor Emeritus of Industrial Engineering and Management at Oklahoma State University. He holds B.S., M.E., and Ph.D. degrees in Industrial Engineering. Prior to joining academia, he held technical and managerial positions in the petroleum, aerospace, and pulp & paper industries for over 12 years. He served on the industrial engineering faculty at his alma mater, Oklahoma State University, for 25 years before his retirement, including 13 years as the Director of the Undergraduate Program. His research, teaching, and consulting interests include production planning and control, economic analysis, and manufacturing systems design. During his active career he was a registered Professional Engineer, an APICS Certified Fellow in Production and Inventory Management, and an ASQ Certified Quality Engineer. He was a member of IISE, NSPE, APICS, INFORMS, and ASQ.

CHAPTER 1 An Overview of Engineering Economic Analysis 

CHAPTER 2 Time Value of Money Calculations 

CHAPTER 3 Equivalence, Loans, and Bonds 

CHAPTER 4 Present Worth

CHAPTER 5 Annual Worth and Future Worth 

CHAPTER 6 Rate of Return 

CHAPTER 7 Replacement Analysis 

CHAPTER 8 Depreciation

CHAPTER 9 Income Taxes

CHAPTER 10 Inflation 

CHAPTER 11 Break-Even, Sensitivity, and Risk Analysis 

CHAPTER 12 Capital Budgeting 

CHAPTER 13 Obtaining and Estimating Cash Flows