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Engineering economy is a way to compare alternatives on an economic basis. Engineering economic analysis is able to answer professional and personal financial questions. This type of economic study involves computing a specific economic measure of worth for estimated cash flows over a specific period of time. The concept of equivalence helps in understanding how different sums of money at different times are equal in economic terms. You are required to follow current APA guidelines when referencing sources and support your response with any calculations as necessary.
Analyze and discuss an example of when you would use engineering economic analysis (it can be a personal example or you can research one). For example: If you wish to evaluate the economics of purchasing a new home. Make sure to apply concepts from this module week in your post.