技术经济学英文版演示文稿C41
技术经济学英文版演示文稿C(7)
the cumulative cash flow Cj as,
j
Cj
j0
A
j
• If Cj starts with a negative number and changes sign only
once, we will obtain only one positive solution. This
Year
0 1 2 3 4 56
A(no drilling) 0 30 20 18 14 10 6
B(in-fill drilling) -20 60 40 6 4 2 0
The numbers are in millions. Assume that MROR is 20%.
14
• Solution • The first step in ROR analysis is to compare individual ROR's
• Solution
技术经济学英文版演示文稿C(4)
30
40
50
-400
ROR的意义： 从收益的观点看，ROR就是项目所能达到的最高收益水平。
2
ROR的意义： 从收益的观点看，ROR就是项目所能达到的最高收益水平。
3
n
NPV NCFt 1 ic t t0
NPV是折现率ic的函数，ic连续，则NPV可导。 一阶导数：
n
NPV
' (ic )
between 15% and 29.3%.
ROR
15
29.3
15
90490466 .5
28.3%
NPV at 28.3% = -10.2 We would assume this value to be close enough to zero. You may note that higher is the difference between the i+ and i-, bigger will be the deviation(背离) between the true ROR and the interpolated value. Therefore, the interpolation may have to be carried out more than once to obtain a correct value of the ROR.
Since tNhiPsVisap4o,0ly00nom21,i5a0li0e qu11a,t8i0oi0n2 in11i,3,0wi03ew1il9l0h0ia4ve to solve it by
trial and error,
i 15% NPV 904 i 35% NPV 361
13
技术经济学英文版演示文稿C42-精选文档
In the last section, we discussed the impact of the contract between the mineral owner and the oil company in the United States. In this section, we concentrate on the application of international contracts on the feasibility of field developments in other countries.
On the other hand, the international oil companies are afraid of
changing tax rules, expropriation( 征 用 ) of oil and other assets,
nationalization of a private company, and political uncertainties. The
oil companies main interest is economical. They would like to produce the hydrocarbons in the most optional fashion so that they can maximize the benefits. To structure a contract between these two parties which will create a win-win situation for both the parties is a challenging task. The solution is the various types of contracts which have evolved over the last thirty years which try to balance the
技术经济学英文版演示文稿C
Several economic criteria are available to evaluate
mutually exclusive alternatives; each criterion having
certain advantages and disadvantages.
we will discuss techniques which do not account for time
characteristics:
* It should be suitable for ranking various alternatives. * It should reflect the cost of the capital. * It should incorporate uncertainties in our assumptions. * It should reflect goals and objectives of the corporation. In practice, no single criterion would be able to satisfy these characteristics. Especially, although techniques are available to quantify the uncertainties in economic evaluation, for simplicity, we will assume that all the information regarding any given alternative is known with certainty. Regarding the last ideal characteristic of a criterion, we will assume that our goal will always be either to minimize cost or to maximize profit or benefit. We will not consider other objectives in our analysis.
技术经济学英文课程大纲
Undergraduate course syllabus of Guangdong Universityof TechnologyCourse name: Technical economics/ Engineering EconomicsCourse number: 308006Course Category: Degree Course Hours: 32 credits: Applicable major: Business Administration (International Class)Advanced courses: Financial management, project management, etcI .Course ContentChapter 1 Introduction (4 Credit hours)Requirements: Understand the meaning of engineering and economics, basic principles of engineering economic analysis;Understand the research object and scope of engineering economics.Main contents: the concept of engineering economics, the research object and scope of engineering economics;General procedure and basic principle of engineering economic analysisChapter 2 Cash Flow and Time Value of Funds (8 Credit hours)Requirements: Understand the meaning of cash flow, cash flow chart, time value of capital and effective interest rate, nominal interest rate and real interest rate, master the calculation method and formula of time value of capital, understand the continuous compound interest rate and its compound interest formula.Main contents: the concept of cash flow;Cash flow chart;The concept of time value of capital;The concept and calculation of capital equivalent;Effective, nominal and real interest rates;Application of equivalent calculation formula.Homework: cash flow, factors affecting the time value of funds, several special interest rate thinking questions, time value of funds and equivalent calculation questionsCase: project cash flow analysis case, capital time value case.Chapter 3 Engineering Economic Evaluation (8 credit hours)Requirements: Master the engineering economic evaluation index, understand the program economic evaluation method.Main contents: total investment return rate, net profit rate of project capital, static payback period of investment, interest provision rate, debt service provision rate and asset-liabilityratio of static evaluation index, dynamic payback period of investment, net present value, net present value rate, net annual value, internal rate of return, present value of expenses and annual value of expenses of dynamic evaluation index;The types of alternatives and their comparison methods.Assignment: calculation of static and dynamic evaluation indexes.Case: Project evaluation caseChapter 4 Uncertainty Analysis and Risk Analysis (6 credit hours) Requirements: Understand the concept and relationship between uncertainty andrisk;Master the basic principles and methods of linear break-even analysis and its application in program evaluation;Master single factor sensitivity analysis;Master risk analysis;Understand nonlinear break-even analysis method and multi-factor sensitivity analysis method.Main contents: break-even analysis: assumed conditions and break-even model of linear break-even analysis, application of linear break-even analysis in investment project evaluation, nonlinear break-even analysis;Sensitivity analysis: the steps and contents of sensitivity analysis, single factor sensitivity analysis, double factor sensitivity analysis and three factor sensitivity analysis of investment projects;Basic principles and main methods of risk analysis.Homework: application of linear break-even analysis in investment project evaluation, single factor sensitivity analysis and cumulative probability analysis.Chapter 5 Financial Evaluation of Construction Projects (4 credit hours) Requirements: Understand the concept, content and steps of financial evaluation of construction projects, understand the calculation of basic financial data, master the financial evaluation of new legal person projects, and understand the financial evaluation of existing legal person projects and non-profit projects.Main Contents:Construction project concept, content and procedure of the project financial evaluation, the concept of financial benefits and costs, the principle of estimate and the estimate content, the selection of financial evaluation parameters, a new report of the project entity project financial evaluation and profit ability, debt paying ability analysis, financial viability analysis, the characteristics of both the project entity project financial evaluation content and evaluation,Types and methods of financial evaluation for non-profit projects.Homework: the concept, content and steps of the financial evaluation of construction projects, the differences and connections between the evaluation methods and contents of the project financial evaluation of the newly established project legal person, the existing project legal person and the non-profit project.Chapter 6Feasibility Study of Construction Project (2 Credit hours) Requirements: Understand the definition, function and procedure of the feasibility study, master the basic framework and main content of the feasibility study, and understand the preparation requirements of the feasibility study report.Main contents: definition, function and procedure of feasibility study, basic framework and main content of feasibility study, requirement of preparation of feasibility study report. Homework: the definition, function, procedure, basic frame and main content of feasibility study.Case: Feasibility study caseIi. Teaching MethodsEngineering economics is a degree course with strong theory and application, and quantitative analysis accounts for a large proportion. Therefore, classroom teaching, homework and case analysis can be used in teaching methods.After each chapter, you will be assigned related thinking questions, exercises, cases and reading reference books.Iv. BibliographWilliam G. Sullivan. Engineering Economics (17th edition), Tsinghua University Press, 2020Xiaojun Liu: Economics of Technology (3rd edition), Science Press, 2014Yuming Liu.Engineering Economics, Tsinghua University Press, 2014V. Assessment methods and requirements：The examination mainly adopts the closed-book method. The specific requirements are that the examination scope should cover all the chapters, and the examination content should objectively reflect the students' memory and mastery of the main concepts of the course, as well as their ability to master and apply the principles and methods of technical and economic analysis.Test questions should be as varied as possible.Total score: 30% for normal homework, 70% for closed-book examinationWriter: Hongyan Lee September 15, 2021。
[经济市场]工程经济学第四-1章英文版
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9
Cash Flow Notation
• i = effective interest rate per interest period
• For the following example, assume $1,000 is invested at 10% compound interest
6
Compound Interest Example
Period 1
(1)
Amount owed at beginning
of period
SOLUTION
Draw the cash flow diagram
Year
Positive Negative Net
0
$0
-$10,000 -$10,000
1
$5,310 -$3,000 $2,310
2
$5,310 -$3,000 $2,310
3
$5,310 -$3,000 $2,310
4
$5,310 -$3,000 $2,310
4
Simple Interest ห้องสมุดไป่ตู้xample
If $5,000 were loaned for five years at a simple interest rate of 7% per year, the interest earned would be
So, the total amount repaid at the end of five years would be the original amount ($5,000) plus the interest ($1,750), or $6,750.
技术经济学英文版演示文稿C1
We will first concentrate on obtaining a single answer using basic economic principles. We will then review the procedures involved in quantifying uncertainties in an economic evaluation process. Once the uncertainties in making a certain decision are clearly identified, the decision maker will be aware(知道) of the consequences(因果关系) of the final decision.
Not to mention, the production scenario(方案) can be significantly affected by changing government regulations either related to production quotas （ 配 额 ） or to the environmental and political concerns. During the same time, knowing that the present reserves are going to last over a finite period, we will have to make decisions related to future acquisition and leasing of onshore and offshore lands.
The economic decisions continue throughout the producing life of the project. Once the production begins smoothly, we will have to worry about the possibilities of secondary（二次） and tertiary （三次)oil recovery techniques, drilling of in-fill wells(加密井）, and the implementation of artificial lift techniques. .
技术经济学英文版演示文稿C
• Example 3.25 For the following four cash ROR between • -100% and ∞.
Period
A
B
C
D
0
-100
-100
300
-500
1
20
120
-200
300
2
20
-30
100
300
3
30
50
100
-100
4
20
70
200
100
5
30
30
-30
we can define the cumulative cash flow Cj as,
j
Cj
j0
A
j
• If Cj starts with a negative number and changes sign
only once, we will obtain only one positive solution. This
Example 3.27 An in-fill drilling project is being considered for an existing oil field to accelerate oil recovery. The following two scenarios, based on two alternatives (no in-fill drilling versus in-fill drilling) are predicted. Which alternative would you select?
Year
0 1 2 3 4 56
技术经济学英文版演示文稿C43-62页PPT文档资料
Operating costs decline rate: 6% per year
Oil price:
$18.5 per barrel assumed constant
MROR
15%
Estimated the feasibility of the project.
Yea Production r MMbbls
The basic difference between the production sharing contract and the concession agreement is the extent of control exercised(行使) by the host country in day to day operations. By being a partner in the operation of a field, the host country can monitor(监控) as well as participate in the decision making process.
The schematic(示意) of the overall cash flow calculations is shown in Figure.4.13 for standard production sharing contract. As shown, the contractor can recover the operating, capitalized (through depreciation) and exploration costs from the gross revenue. The remaining revenue, call profit oil, is split between the host country and the contractor based on the agreed upon formula. This formula may involve a volume related sliding scale. The contractor's share of profit oil is subject to income taxes.
18《技术经济学》课程教学大纲(45)[1]
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18《技术经济学》课程教学大纲(45)[1]?技术经济学?课程教学大纲课程英文名称：Technical economics 适用专业：工商管理课程类型：专业必修课学时及学分：45学时，3学分先修课程：经济学一、基本目的通过本课程的学习,使学生全面了解投资项目评价的基本方法,可行性研究的基本步骤及可行性论证报告的内容,能作简单的价值工程活动分析。
二、教学基本要求通过本课程的学习，要求学生：1．了解技术与经济的基本关系，经济效果的评价原则 2．掌握常用的静态评价方法。
3．资金的时间价值及其相关计算 4．熟练掌握常用的动态评价方法。
5．能进行一般的敏感分析6．掌握可行性论证的基本步骤和主要内容。
7．掌握价值工程理论及方法。
三、教学内容（一）技术经济学概论技术与经济的关系：技术与经济的关系。
技术经济学研究的对象和内容：技术经济学研究的对象，主要研究的内容技术经济学与其他科学的关系：技术经济学与其他科学的关系。
经济效果的评价原则：经济效果的评价原则技术经济学研究的方法与步骤：研究方法有调查研究和理论研究二种、技术经济学研究的工作程序（二）静态分析法投资收益率法和投资回收期：投资收益率、投资回收期、标准投资回收期和标准投资收益率追加投资效果评价法：追加投资回收期、追加投资效果系数。
最小费用法：标准偿还年限内年费用法、标准偿还年限内总费用法投资方案的可比性：产量不同的可比性、质量不同的可比性（三）利息公式和等值计算货币的时间价值：货币的时间价值利息与利率：单利、复利。
普通复利公式：现金流量图、普通复利公式。
名义利率与实际利率：名义利率与实际利率的含义和换算。
等值计算：等值的概念、等额多次支付中付款间隔期长于复利期的问题、复利计算期长于支付间隔期的问题。
（四）动态分析法投资方案的现金流量：静现金流量及其表示。
净现值法：净现值计算的步骤、净现值的数学模型。
内部收益率：内部收益率的定义、内部收益率的计算方法、内部收益率和净现值的关系、具有多个内部收益率的现金流量。
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4.1.1 Depreciation Depreciation in literal sense means a decrease in value.
For example, you buy a car today,——-----In economic analysis, depreciation has a different meaning. Realizing that the existence of a corporation is perpetual, depreciation is treated as a replacement cost. That is, if you buy a piece of equipment which has a useful life greater than one year, the assumption is that you will have to replace that piece of the equipment at the end of its useful life. Therefore, some money has to be set aside during the useful life so that the equipment can be replaced. This yearly replacement cost is called depreciation.
In other words, it is an allocation(分配) of the cost of the equipment spread over its useful life. The government allows the corporation to set aside this money for future replacement by not taxing this money. Although use of depreciation for durable equipment is the most common, it is also used for other properties. To generalize, a property can be depreciated if it satisfies the following characteristics: * It muБайду номын сангаасt be used in business or production of income. . * It must have a life longer than one year. * It must be something that wears out(磨损), decays(腐烂), becomes obsolete( 陈 旧 ) or loses value from natural causes.
These characteristics are most appropriate for ( 适 于 )equipment; however, they can also be applied to building, patents and copyrights. Investment in such property is called a capitalized cost. In production operations, this cost will include costs of casing( 下 套 管 、 固 井 ), piping, tank batteries, pumps, compressors, buildings, etc. Considering that these costs are incurred over tangible items, sometimes, these costs are also called tangible costs. Costs related to patents and copyrights are intangible costs; however, they still need to be capitalized. In contrast, the costs incurred for regular maintenance, upkeep and utilities for running the equipment, including the labor costs, are considered operating costs and can be deducted from the operating revenue in the same year for tax purposes.
4. CASH FLOW ANALYSIS
4.1 Basic Tax Structure 4.2 Domestic Agreements 4.3 International Contracts 4.4 Summary
4. 1 Basic Tax Structure In this section, we discuss two important concepts which are common to most types of tax analysis. The only requirement is that the business invests in durable (lasting more than one year) goods. For an exclusively service industry requiring no investment in durable goods, the concept of depreciation may not be relevant . Otherwise understanding of depreciation and income taxes is almost a universal requirement for a proper economic evaluation of any project.