Engineering Economics for Chemical Engineers

Evaluating the financial viability of a chemical process is just as critical as designing the reaction itself. Engineers must balance technical feasibility with capital costs, operating expenses, and long-term profitability. This text-only course guides you through the core financial principles required to evaluate and design economically viable chemical engineering projects. You will transition from understanding basic cost concepts to confidently performing comprehensive profitability analyses for industrial-scale chemical plants. What you'll learn: - Understand core engineering economic concepts including time value of money, interest rates, and cash flow diagrams - Estimate capital investment costs and annual operating expenses for chemical process equipment - Calculate key profitability metrics such as Net Present Value (NPV), Internal Rate of Return (IRR), and payback period - Analyze depreciation methods, tax implications, and inflation impacts on chemical project cash flows - Perform sensitivity and risk analyses to evaluate project viability under market uncertainty - Apply modern sustainability and environmental cost accounting principles to chemical process design The course begins with foundational economic terms and cash flow mathematics before moving systematically through equipment cost estimation, tax considerations, and comprehensive profitability analysis. You will study realistic chemical engineering scenarios through structured written exercises and clear, step-by-step calculations. This course is designed for undergraduate chemical engineering students, practicing process engineers, and technical professionals looking to build a solid foundation in project economics. No prior background in finance or economics is required. Start learning how to make sound, data-driven financial decisions for your chemical engineering projects today.