Course Description
This course provides the students with the principles and fundamentals of building economics and introduces them to the financial and economic concepts that are inherent to building construction, engineering and design. The students will become familiar with professional and appraisal techniques, which help simplify comparisons. The following topics will also be included in this course: financial statements and accounting concepts related to economic analyses, the time value of money, interest rates, economic decision making, life-cycle costing and cash flow equivalence, cost capital along with the Minimum Attractive Rate of Return (MARR). Other critical topics will include defining mutually exclusive alternative development studies and methods used for addressing uncertainty risk. Emphasis will be placed on the application of economic analysis for evaluating feasible solutions to problems and consideration of realistic constraint.
Course ID: BSTC -451
Credit hours | Theory | Practical | Laboratory | Lecture | Studio | Contact hours | Pre-requisite | 2 | 2 | 2 | BSTC -341 |
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