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EGR310 Engineering Economics

Lead Faculty: Dr. Shekar Viswanathan

Course Description

Economic Analysis for decision making with emphasis on rate of return, net present value, benefit-cost and multi-objective evaluation methods. Cost estimation and alternative analysis.

Learning Outcomes

  • Understand major principles of economic analysis for decision making among alternative courses of action in engineering.
  • Apply cost estimation and alternative analysis techniques for engineering applications.
  • Demonstrate knowledge of cost estimation techniques and probabilistic risk analysis.
  • Understand techniques and methods of sensitivity analysis and expected-value decisions.

Prerequisite