Engineering Economics and Management Policy MGT600

 This course covers the discipline of engineering economics   and how this  discipline influences management policy and   decision-making.  The major  emphasis is on the selection process for capital   investments, both tangible  and intangible, and how this process is structured and   constrained by the time  value of money, the source of funds, market demand, and   competitive position.  The first part of the course covers the basics of   engineering economy on which  the selection process rests.  The remaining parts cover   the selection process  itself, beginning with deterministic analyses based on   single-valued  estimates, continuing on, where significant, to risk   analyses based on  multi-valued estimates, and concluding with multiattribute   analyses in which  both the monetary and non-monetary factors involved in   investment decisions  are combined into single figures of merit.  In passing   through the process,  capital budgeting, cost estimation, probability analysis,   uncertainty  analysis, and Monte Carlo simulation are introduced and   applied.  Case studies  are used where appropriate.