Engineering Economics

Catalog description

Engineering projects must be analyzed based upon their technical soundness, but also upon their ability to attract investment dollars in a market economy. This course prepares engineering students to apply microeconomic, financial, and statistical methods as they analyze the economic feasibility of projects. Students will learn about capital budgeting, risk and uncertainty, demand analysis, production and cost modeling, and linear programming. They will apply Excel and other computer-based simulations to analyze data. The goal of the course is ultimately to provide the student with the economic decision-making skills they need to plan, design, and finance engineering projects.