SPREADSHEETS: ENHANCING LEARNING AND APPLICATION OF ENGINEERING ECONOMY TECHNIQUES

Abstract

Abstract Electronic spreadsheets are ideally suited for engineering economic analysis. They increase effectiveness both in the classroom and on the job. Spreadsheet advantages include low investment in learning time, low cost, and minimum total solution/presentation time. Their use is contrasted with closed form analysis, custom written and prepackaged software. A Monte Carlo simulation example is given to demonstrate the ease of modeling complex problems. Suggestions for incorporating spreadsheets into the classroom are also presented.