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This concise book provides engineers with the tools to evaluate the cost of their work and convey the project to key decision makers. It follows an integrative approach that arms them with a seven-step Systematic Evaluation and Analysis Technique as well as a strong understanding of cash flows. The new fifth edition has also been expanded from eight to 16 chapters, covering critical topics such as time value of money, measures of worth, depreciation, inflation, and capital rationing. Practicing engineers will be able to apply these principles and techniques to make the most effective economic decisions. About The Author A native Arkansan, Dr. White is in his 11th year as chancellor of the University of Arkansas. His background includes extensive experience in academe, business and government. Prior to his current position, he served as dean of engineering at Georgia Tech and was a member of the Georgia Tech faculty for 22 years. From 1988 to 1991, he served as assistant director for engineering at the National Science Foundation in Washington, D.C. White received his BSIE degree from the University of Arkansas. His graduate work was performed at Virginia Tech (MSIE) and The Ohio State University (PhD). He also has received honorary doctorates from the Katholieke Universiteit of Leuven in Belgium and George Washington University. Table of Contents Engineering Economic Analysis. Time Value of Money. Borrowing, Lending, and Investing. Establishing the Planning Horizon and the Minimum Attractive Rate of Return. Present Worth Analysis. Future Worth Analysis. Annual Worth Analysis. Rate of Return Analysis. Depreciation Methods. After-Tax Economic Analysis. Replacement Analysis. Inflation Effects. Supplementary Analysis. Economic Analysis in the Public and Regulated Sectors. Capital Budgeting. Obtaining and Estimating Cash Flows.