What This Document Is
This document is a past economics exam from EEL 4914, a Senior Design course at the University of Central Florida, originally administered in Spring 2003 by Dr. Fernando Gonzalez. It’s designed to assess understanding of economic principles as they apply to engineering decision-making and financial analysis. The exam focuses on practical application of economic concepts rather than purely theoretical knowledge. It’s formatted as a take-home exam requiring detailed solutions and graphical representations.
Why This Document Matters
This resource is exceptionally valuable for students currently enrolled in or preparing for a similar Senior Design course, particularly those with an electrical engineering focus. It’s ideal for understanding the *types* of problems and the level of analytical rigor expected on exams. Reviewing this exam can help you identify areas where your understanding of engineering economics might need strengthening, and to practice formulating complete and well-supported solutions. It’s best used as a study aid *after* covering the core concepts in class.
Topics Covered
* Time Value of Money
* Compound Interest Calculations
* Annuities and Future Value
* Investment Analysis
* Rate of Return Calculations
* Cost-Benefit Analysis
* Salvage Value and Depreciation
* Economic Justification of Capital Investments
What This Document Provides
* A full, previously administered exam paper.
* Problem statements requiring application of economic principles.
* An indication of the expected format for solutions – including the need for both mathematical derivations *and* graphical illustrations.
* Examples of scenarios involving long-term financial planning (retirement savings, salary increases).
* Problems related to evaluating the economic viability of capital investments (machine purchases).
* A clear indication of the level of detail and justification required for a complete answer.
