Engineering Economic Decision-Making

3 credits


Industrial and Systems Engin
College of Engineering

Fundamentals of economic decision-making from an engineering perspective. Includes conceptual basis of economic analysis (interest, inflation), principles for decision making (cost/benefits, breakeven analysis, risk and uncertainty, multi-objectives/attributes), generation of engineering economic parameters (life-cycle analysis), and the application of economic decision making in different context (governmental policy, time-phased, and scarce capital). Prerequisites: sophomore standing.