工程经济学复习
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；. 1.Rational decision-making process
1.Recognize a decision problem .认出一个决策问题
2.Define the goals or objectives.定义目标或目标
3.Collect all the relevant information.
收集所有相关的信息
4.Identify a set of feasible decision alternatives.确定一组可行的决策选择
5.Select the decision criterion to use.
选择决策准则来使用
6.Select the best alternative.选择最好的选择
2.Fundamental principles in engineering economics
A nearby dollar is worth more than a distant
dollar.附近的美元价值超过一个遥远的美元
All that counts are the differences
among
alternatives.所有重要的差别是在备选方案
Marginal revenue must exceed marginal cost.
边际收益必须超过边际成本
Additional risk is not taken without the expected
additional return.
附加险是不采取不预期的额外回报 .
；. 3. The procedure for applying the net-present-worth
criterion to a single project
Step 1: determine the MARR .确定MARR
Step 2: estimate the service life of the project.
估计项目的使用寿命
Step 3: estimate the cash inflow for each period:
估计为每个时期的现金流入
Step 4: estimate the cash outflow for each period
估计为每个时期的现金流出
Step 5: determine the net cash
flows for each period:
确定每个时期净现金流
Step 6: find the present worth
of each net cash flow
at the MARR.找到当前价值的每个净现金流量在MARR下
Step 7: evaluate the project with the following
decision rule: if PW(i)>0,accept the project, if
PW(i)<0, reject the project, if PW(i)=0, remain
indifferent
评估该项目提供以下决策规则:如果PW(我)> 0,接受该项目,如果PW(我)< 0,拒绝这个项目,如果PW(我)= 0,淡然处之
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；. 4. 基本名词认识
Principal (P)
• Interest rate
(i)
• Interest period (n) 利息期
• Number of interest periods (N) 数量的利息期
• A plan for receipts or disbursements
(An)
一个计划收据或垫付
• A future amount of money (F)
• Compound interest复利
• Compound-amount factor复利终值系数
Present-worth factor现值系数
Sinking-fund factor偿债基金因素
Capital-recovery factor (Annuity factor)
资本复苏因子(年金因素)
Present value of perpetuities永续年金的现值P=A/i
5、MARR is a function of risk-free real return,
inflation factor, and risk premium.
Definitions 1--Rate of return is the interest
earned on the unpaid balance of an amortized loan.
回报率是利息收入在未付的余额上来算贷款的摊销
Definitions 2--Rate of return is the
break-even interest rate i* at wnich the .
；. present worth of a project is zero or
PW(i*
) = PWcash inflows - PW cash outflows = 0
回报率是保本利率i*在wnich当前价值的一个项目是零或
PW(i*)= PWcash流入- PW现金流出= 0
Definitions 3--The internal rate of return is
the interest rate charged on the unrecovered
project balance of the investment such that ,
when
the project terminates ,the unrecovered project
balance is zero .
内部收益率是利息未恢复的项目的平衡的投资,这样,当这个项目终止,未恢复的项目余额是零。
6.: i=(1 + r / CK)c 1
M =利息期的数量/年;
C =利息期的数量每付款期;
K =支付的数量每年时期
7. A simple investment ：is an investment in which
the
initial cash flows are negative and only one sign
change
occurs in the net cash flow series. If the initial
flows
are positive and only one sign change occurs in the .
；. subsequence net cash flow, the flows are referred to
as simple-borrowing cash flows.
A nonsimple investment ：is an investment in which
more than one sign change occurs in the cash flow
series.
一个简单的投资是一种投资,初始现金流是负和只有一个信号变化发生在净现金流量系列。如果初始流是积极的和只有一个信号变化发生在后继净现金流,流被称为简单的借贷现金流。
一个复杂投资是一种投资,超过一个标志变化发生在现金流系列。
9、名词解释：
1）Interest rates: refers to the ratio of interest
on the amount and period of the loan capital
利率：指一定时期内利息额与借贷资金的比率，
2）Nominal interest rates（名义利率）：A stated rate
of interest for a given period (usually a year).
3）The CPI is a measure of the general price increase
of consumer products
4）Actual dollars（现价）: dollar amounts that reflect
the inflation or deflation rate.
5）Constant dollars（不变价）: dollar amounts that
reflect the purchasing power of year zero dollars
6）Interest ：the additional money paid to the lender
for borrowing money .
；. 7）Annual effective yield （annual interest rate）is the one rate that truly represents the interest
earned in a year.
8）Market interest rate：
is determined by the capital market
supply and demand rates
市场利率是指由资金市场上供求关系决定的利率
9）Inflation: a decline in purchasing power by
rising
prices. 通货膨胀:购买力下降,物价上涨
10）Deflation: an increase in purchasing power by
falling prices. 通货紧缩:增加购买力下降价格。
