Credits:
3
The course is designed to provide students with an introduction to economic and financial concepts for effective decision making in the field of engineering. Students will learn key concepts such as the time value of money, rate of return, evaluation of alternatives, risk and return, replacement analysis and the impacts of taxation, inflation, and depreciation on decision making. In addition, students will be introduced to entrepreneurship and learn about economic and financial considerations, sales and marketing, human resources, competition and funding opportunities in the context of a small business. In small groups, student will create a basic business plan and present a pitch for a start-up company.