Economic Decision Making Part 2
About this course
Explores economic modeling and analysis techniques for selecting alternatives from potential solutions to an engineering problem. Considers measures of merit, such as present worth, annual worth, rate of return, and benefit/cost techniques. Examines recent techniques of economic analysis, especially the tools of decision-making. Explores decisions under uncertainty. Studies the causes of risk and uncertainty and examines ways to change and influence the degree of risk and uncertainty through sensitivity analysis, expectation-variance criterion, decision tree analysis, statistical decision techniques, and multiple attribute decision-making through group case studies.
82/100
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- What the provider tells you
- 31/45
- Who stands behind it
- 35/35
- How complete the listing is
- 16/20
Scores how much the provider publishes and who stands behind it — not how well it is taught.
What you'll learn
- understand economic modeling techniques
- apply decision-making tools
- analyze risk and uncertainty
- utilize sensitivity analysis
- create decision trees
Course objectives
- improve decision-making skills in engineering contexts
- learn to measure and compare potential solutions
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