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EM 652. Engineering Economy and Decision Making

Credits: 3
Department: Engineering Management
Description: Decision making among mutually exclusive projects, time value of money, internal rate of return analysis, constrained project selection, replacement analysis, depreciation, cost benefit analysis of engineering projects, effect of income taxes on engineering project analysis, decisions under risk and uncertainty, sensitivity analysis.
Semester Offered: Fall
Grading Method: ABCDF
Permissions: Permission of department

Student Learning Outcomes

1. Evaluate constrained projects and mutually exclusive alternatives.
2. Analyze engineering decision-making options using internal rate of return and incremental analysis methods.
3. Use probability and uncertainty principles to select an appropriate economic project.
4. Assess decisions using sensitivity analysis and replacement analysis methods.

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