This textbook is an introduction to the concepts of the time value of money and the application of time value of money considerations to the after-tax evaluation of virtually all types of investment situations. The text presents the development and application of economic evaluation techniques that can be used to compare systematically and quantitatively the relative economic merits of investment alternatives.
This textbook has been designed for use in three basic ways. First, it can serve as a university textbook for undergraduate or graduate students. The material covered is applicable for students of engineering, science, economics, accounting, business, finance, management, and other disciplines that relate to economic evaluation work. Second, it can be used for continuing education courses for industry and government personnel with backgrounds and interests just mentioned. Third, it can be used for self-study to teach one’s self economic evaluation techniques and applications. This latest text revision has placed special use, which also makes the text better for use as a course text.
The primary goal of this textbook is to provide the reader with the economic evaluation tools needed to carry out properly the economic evaluation of any type of investment situation on an after-tax.