ISE460 Engineering Economy
ISE 460 - Engineering Economy is the study of the time value of money in the context of decisions engineers make in their daily work relative to research, development, design and manufacturing.
Decisions made as early as the concept phase will influence the majority of the cost of a product or service. Besides an understanding of the principles of science, engineering, and economics, a competent and successful engineer must understand the financial implications of his/her decisions.
In this course, we address cost structures, the time value of money, depreciation, inflation, project cash flows, evaluating alternatives, replacement decisions and managing risk and uncertainty.
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