Foundations Skill in Engineering Economics

1.5 credits · Graduate

This course develops foundational skills in engineering economic decision making by integrating technical modeling, financial understanding, and structured analysis. Students build proficiency in Excel-based modeling, including auditing and visualization, while developing fluency in financial terminology and the interpretation of financial statements and key business metrics. Emphasis is placed on estimating costs and benefits, identifying assumptions, and recognizing common decision-making errors and ethical pitfalls. Students explore the use of AI to enhance modeling and analysis, while critically evaluating its limitations. Core economic concepts such as time value of money, present and future worth, and introductory evaluation methods are introduced to support clear, well-reasoned decisions.