IMSE 421: Eng Economy and Dec Anlys

Course Description

Study of the concepts involved in the analysis of engineering management decisions, both short and long term. Time valued investments and the effects of depreciation and taxes in comparing alternatives are discussed. Specific attention is devoted to deterministic and probabilistic replacement policies for single and chain replacements of equipment. Basic elements of utility theory are introduced. Applications of decisions under risk, uncertainty, and of game theory to capital investment, bidding, and to competitive decisions are included.