Climate Change, Energy & Economic Decision Making (C2E2DM)

Undergraduate Course

  • Survey of Finance and Engineering Economy - Fall and Spring

Do you like making money? Would you know how to evaluate different investment opportunities? What level of initial investment in an engineering project makes an opportunity profitable, or what rate of return guarantees investment profitability? The goal of this course is to apply the concept of time value of money to make optimal engineering project investment choices in the face of competing alternatives. This is important because an opportunity with less upfront capital cost today may actually be costlier than that with a higher upfront capital cost when both opportunities are compared over their life cycles. Thus, you will learn how to analyze the financial worthiness of engineering projects and apply engineering economy concepts to make go/no-go decisions. 

You will find value in this course because the notion of the time value of money is applicable to your everyday financial decisions. This course will also provide you with the foundation knowledge needed for the Fundamentals of Engineering exam for Professional Engineers and the know-how to conduct life-cycle financial analysis of engineering projects using spreadsheet techniques. Beyond function and performance, engineering solutions must also be viable economically and in the face of resource pressure, financial constraints, and fiscal limitations, the case for extracting information from the available project financing data to make better economic engineering decisions has never been so strong.


Graduate Courses

  • Finance for Engineers - Fall semester only 

The objective of this course is to provide engineering managers and systems engineers with a basic understanding of corporate finance, with emphasis on the concepts and techniques for analyzing a firm's sources and uses of funds, management of working capital, leverage, valuation, forecasting, and investment decisions.



  • Economic Analysis in Engineering Planning - Spring semester only

When systems engineers or engineering managers consider how systems are designed, developed, produced, and maintained, a major consideration in their decision making is cost. Thus, it becomes central and critical to understand how uncertainty affects a system's cost. The objective of this course is to provide engineering managers and systems engineers with a basic understanding of probability methods and the basic skills for developing probability models to perform meaningful engineering economic studies, financial feasibility assessments, and cost uncertainty analysis in the planning phase of engineering projects.

Proposed

  • Bayesian Reasoning and Machine Learning (Graduate)