Economic Evaluation and Investment Decision Methods
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Economic Evaluation and Investment Decision Methods is written for individuals with both technical and non-technical backgrounds, regardless of prior experience in economic evaluation. This book introduces the fundamental concepts of the time value of money and the decision criteria used to evaluate investments, with a strong emphasis on the correct application of those criteria in both before-tax and after-tax contexts. The first six chapters focus on before-tax analysis, exploring how to apply economic evaluation techniques across a range of investment scenarios while accounting for the effects of inflation, risk, and uncertainty. Subsequent chapters transition into after-tax considerations, providing detailed guidance on understanding and calculating after-tax cash flows. These chapters reflect current tax law, including the Tax Cuts and Jobs Act of 2017, and examine the terminology and methodology involved in determining federal and state income tax liabilities in the United States. Chapter 11 explains the treatment of borrowed funds and emphasizes why they are considered in secondary analysis rather than as a primary driver in economic evaluations. Although the text includes examples from the oil and gas and mining industries, it is intentionally designed with a wide range of generic examples, making it relevant and accessible to students across all engineering disciplines. It is equally valuable to those working in geology, geophysics, business, accounting, finance, management, and operations researchor anyone with an interest in economic decision-making. Problems at the end of each chapter help reinforce concepts and guide readers in developing a comprehensive and practical approach to evaluating economic alternatives.About this book
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