ENMGT 5941

Foundations Skill in Engineering Economics

Course Description

Course information provided by the 2026-2027 Catalog.

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.

Enrollment Information Enrollment limited to: graduate and professional students.

Last 4 Terms Offered (None)

Learning Outcomes

• Develop and audit Excel-based models to structure, analyze, and clearly communicate engineering economic decisions and concepts.
• Apply financial terminology and interpret financial statements to assess organizational performance and inform decision making.
• Estimate costs and benefits, identify key assumptions, and evaluate risks and common sources of error in economic analyses.
• Apply time value of money concepts and introductory evaluation methods (e.g., PW, FW, EUAW, IRR) to compare alternatives and communicate well-reasoned, defensible recommendations.

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