Engineering economics tools
Course:- Managerial Economics
Reference No.:- EM13647017

Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Managerial Economics

Engineering economies tools to show its effect in decision making. Compare between them using engineering economics tools that been covered in the class (attached the covered materials).

Example of renting a villa or buying a villa which option is better and cost effective that should be concluded from the tools and suggest to use the cash flow diagram and NPV as tools.

Say villa rent is 250,000 Dhs and buying the same villa is 5,000,000 Dhs and the bank profit is 3.99%

You can find by searching for a villa to rent or buy in Abu Dhabi, UAE.


Verified Expert

Preview Container content


Details of the case: Renting or purchasing a house? – which is right decision in the given case scenario

Decision making & economics:

Making decision is a mandatory requirement for any one in life, there comes a need for any person in life at several occasions to take a decision. As far financial issues and economics is concerned, basic knowledge of the economics is needed for an effective decision making. There are number of economic tools available to make decisions at key junctures for financial crisis management. The financial tools can be used by both the professionals from the economics field as well by other non- professional equally, only basic knowledge of using the tools will be sufficient to take decisions on the complicated issues. The effectiveness of the decisions will depend on the assumptions made during the process as well as consideration as many number of variables that influence the decision into consideration.

Present case – Introduction:

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Managerial Economics) Materials
Brief the facts of the case Creative Resource Management, Inc. v. Soskin and assume your boss is seeking your opinions as noted the effects of Mr. Soskin's signature and what
If a carton contains more than one bad egg, the manager will replace the entire dozen and allow the customer to keep the original eggs. Find the probability that the manager w
Briefly describe the five models of behavior presented in this chapter. What are the implications of these models for managers attempting to influence their employees' behavio
ECON125-HK2: Which of the following taxes is not collected from the consumer on the final sale of goods and services? When the federal budget is used as a tool for economic st
points out that asymmetric information can have deleterious effects on market outcomes. a. Explain how asymmetric information about a hidden action or a hidden characteristi
The service times at server i are exponential with rate ¼i, i = 1, 2, 3. If ¼1 = 7, ¼2 = 3 and ¼3 = 5, what proportion of time is each server idle?
Analyze the company's profitability. Identify the economy or industry influences on its costs, operations, and profitability. Describe the company and provide a brief history
What is the West?" discusses the evolving ideas of western civilization and the questions one should ask when studying it. Reflect on these ideas and how one should analyze th