Advanced Engineering Economy

Graduate

Principles and methods for engineering analysis of industrial projects and operations. Criteria for economic decisions, project investment analysis, gain and loss estimating and techniques for economic optimization under constraint are included. Emphasis is placed on the construction and use of analytical models in the solution of engineering economy problems. Elements of risk and uncertainty are included through use of probabilistic techniques. (Prerequisite: GENG-3130 or equivalent.) (3 lecture hours a week.)