Franklin J. Stermole, B.S., M.S., Ph.D., Chemical Engineering, Iowa State University, is Professor Emeritus of Mineral Economics and Chemical and Petroleum Refiningat Colorado School of Mines where he has taught since 1963. Frank also serves as Chairman of Investment Evaluations Corporation. He has taught economic evaluation techniques for over 40 years to undergraduate and graduate students and has done economic evaluation consulting for numerous mineral and non-mineral companies. Since 1970 when the first short course was presented, Frank has taught more than 700 "Economic Evaluation" short courses to over 16,000 persons from mineral and nonmineral industry companies and government agencies. In addition to the United States these courses have been presented in Armenia, Australia, Canada, Chile, Colombia, Egypt, France, Germany, Great Britain, Guyana, Indonesia, Kazakhstan, Kuwait, Mexico, Norway, Philippines, Saudi Arabia, South Africa, Trinidad and Venezuela. This domestic and foreign industrial consulting and teaching experience has had a direct effect on the applications-oriented content and organization of the text.