ECONOMIC ANALYSIS FOR PROCESS TECHNOLOGY

课程简介

/ Indicative Syllabus Economic Aspects of the Process Plant: Cost and income; fixed and variable costs, profits; cash flow and cash position. Capital Investment and Product Cost: Capital investment and total product cost; equipment cost and cost index; methods for estimating capital investment and total product costs. Interest and Loan Payments: Simple and compound interest; present worth and discount; discrete and continuous cash flow; compounding and discounting factors; methods for calculating loan repayments. Depreciation and Income Tax: Depreciation and income tax; current value and recovery period; methods for calculating depreciation. Profitability, Alternative Investments and Replacements: Profitability standards, rate of return, profitability evaluation alternative investment and replacements; break-even chart for production schedule. Process Optimization: Introduction; programming optimization problems; optimization solution methodology and optimization applications. -- 1 of 2 --

目标

The objective of this subject is to provide students with the fundamental knowledge of the economic aspects of process technology, and the concepts and skills in analysis of the profitability of an investment.

先修要求

Introduction to Chemical & Bioprocess Technology or Elements of Food Engineering, or equivalent Co-requisite Nil Exclusion Nil

Teaching Pattern

Methodology Lectures will provide students with general concepts of economic analysis and guidance on further reading. Examples will be used to illustrate the use of different economic evaluation methods. Students are encouraged to raise real- life questions and present their answers in the lecture and tutorial sessions. Integration of methods and skills to deal with multiple alternatives will also be demonstrated. Students will be assessed by assignments, tests as well as a written final examination.