3137 - Engineering Economics

Language of Delivery English

Delivery Options ON-LINE

Course Description

Analyzing engineering projects and companies from an economic standpoint is important for any engineer. This course equips learners with the financial tools needed to make sound decisions about engineering projects and companies. It introduces core concepts like the time value of money and explores methods for comparing investment alternatives, such as present and future worth analysis. Learners will master calculating interest rates and cash flows, both crucial for project evaluation. The course also tackles methods to assess project viability, including payback period and internal rate of return analysis, while considering depreciation methods in a tax context and financial statement analysis to understand organizations’ financial position better. This course will ensure you can make best economic decision in addition to the best technical decision.

This course offers engineering knowledge that participants may consider for their continuous professional development needs. As well, if you are required to pass the professional engineering examination in Engineering Economics to get a P.Eng. license in Canada, this course will improve your chances. Case studies and reviews of past exams will build your knowledge and confidence.

Financial assistance may be available to eligible Ontario residents through the Ontario Bridging Participant Assistance Program (OBPAP) provided by the Ministry of Training, Colleges and Universities (MTCU). Please email scs.learnerservices@utoronto.ca for details.

Learning Outcomes

Apply up-to-date concepts and methods of engineering economics in a Canadian setting.
Compare engineering projects and choose the one with the best prospects for success.
Calculate time-value equivalence, normal and effective interest rate, cash flows and other metrics.
Analyze financial statements, effect of inflation and leasing alternatives.
Identify and manage uncertainty and risk.