Temple University 3 credits ENGR
The objectives of the course are to apply economic theory to design, planning and execution of engineering problems and projects. This course focuses on modern economic theories such as behavioral economics and random theory to provide engineering students with the decision-making skills necessary to evaluate the economic feasibility of investment projects. As the capital outlays may be significant and affect the productive potential of a firm over the long term, it is important to understand the time value of money and how it may be impacted by parameters such as climate change. The course emphasizes on measurements of economic worth, after tax cash flow analysis, replacement analysis, and supplemental analysis; including break even, sensitivity, and risk analysis. A final project consisting of evaluating a real-world investment project is performed and submitted as a report and presented at the end of the course.
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