ENGINEERING ECONOMICS IS THE APPLICATION OF ECONOMIC TECHNIQUES TO THE ENGINEERING PROBLEMS. IT DEALS WITH THE CONCEPTS AND TECHNIQUES OF ANALYSIS USEFUL IN EVALUATING THE WORTH OF ENGINEERING POSSIBLE ALTERNATIVES. CONSIDERING THE TIME VALUE OF MONEY IS CENTRAL TO MOST ENGINEERING ECONOMIC ANALYSES. SOME OTHER TOPICS THAT MAY BE ADDRESSED IN ENGINEERING ECONOMICS ARE INFLATION, UNCERTAINTY, REPLACEMENTS, DEPRECIATION, RESOURCE DEPLETION, TAXES, TAX CREDITS, ACCOUNTING, COST ESTIMATIONS, OR CAPITAL FINANCING.