Engineering Finance and Economics. 3 credits

Catalog description

This course develops engineering economic decision-making capabilities for leaders in the organization. Students learn how to make economically sound decisions by combining engineering analysis with financial evaluation. It emphasizes real-world applications, decision-making methods, and practical tools for evaluating alternatives. The course covers concepts and methodologies to evaluate capital investments, modernization initiatives, and strategic engineering alternatives using economic principles, financial modeling, and risk analysis. Emphasis is placed on decision-making under uncertainty, integrating economic thinking into the engineering design process, replacement and lifecycle cost analysis and probabilistic risk analysis. Offered by Systems Engr & Operations Rsch . May not be repeated for credit.