ENGR 3073 - Engineering Economics
Prerequisites: MATH 1525 or or instructor permission.
This course emphasizes the systematic evaluation of the costs and associated benefits in engineering, incorporating technical knowledge, economic principles, and problem-solving skills Decision-making strategies, such as cost-benefit analysis, net present value (NPV), internal rate of return (IRR), and return on investment (ROI), will be covered to assess various solutions. Additionally, the course will explore risk assessment using break-even and sensitivity analysis. Students will learn how to make financial decisions considering ethical and environmental standards. The course also provides exposure to the concept of sustainability in engineering economics. Spring.
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