Engineering Economics draws upon the logic of economics and adds the analytical power of mathematics and statistics. The concepts developed in this course are broadly applicable to many professional and personal decisions, including making purchasing decisions, deciding between project alternatives, evaluating different processes, and balancing environmental and social costs against economic costs.
Engineering economics will be increasingly valuable as students climb the career ladder in private industry, non-governmental organizations, public agencies, or in founding their own startups. Eventually, the ability to make informed decisions that are based in fundamental analysis of alternatives is a part of every career. As such, this course is recommended for engineering and non-engineering students alike.
Please note: this course will be offered exclusively online, so all office hours and discussion sessions will also be online.
- Decision making processes and professional ethics in decision-making
- Cost-estimating, the time value of money and measures of merit
- Quantitative sustainability assessment
- Economic externalities and uncertainty
- Mathematical modeling approaches
- Optimization, taxes and inflation
- Financial instrument analysis
- Accounting practices as they apply to alternative comparison and decision-making
Note on Course Availability
This course is likely to be offered Autumn, Spring and Summer quarters.
The course schedule is displayed for planning purposes – courses can be modified, changed, or cancelled. Course availability will be considered finalized on the first day of open enrollment. For quarterly enrollment dates, please refer to our graduate certificate homepage.
Stanford course MATH19 or MATH20 (Calculus) or approved equivalent.
A basic understanding of Microsoft Excel or similar spreadsheet software is recommended.