Economic Simulations For Risk Analysis | Zendy

John H. Ristroph | Zendy

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Economic Simulations For Risk Analysis

Author(s) -

John H. Ristroph

Publication year - 2020

Language(s) - English

Resource type - Conference proceedings

DOI - 10.18260/1-2--8323

Subject(s) - session (web analytics) , computer science , cash flow , workbook , presentation (obstetrics) , macro , value (mathematics) , cash , software , operations research , software engineering , programming language , accounting , finance , world wide web , engineering , machine learning , medicine , economics , business , radiology

Errors in estimates of cash flows are the rule rather than the exception, so inclusion of risk analysis in an engineering economics course is essential to a student's becoming a practicing engineer. Teaching this topic, however, can be difficult due to the lack of readily available tools. This paper presents a student-friendly software system named Econsim that performs economic simulations. It is a Microsoft Excel 2000 workbook containing easy-to-use macros and functions that perform simulations and provide reports. Ready-to-run copies of workbooks with examples are freely available from the author at ristroph@louisiana.edu.

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