Industrial and Operations Engineering | Johns Hopkins University Academic Catalogue

Program Overview

The Industrial and Operations Engineering program is designed to help students learn how to improve systems and processes through rigorous statistical and mathematical analysis. Engineers, scientists, and others will develop the skills needed to apply industrial and operations engineering concepts and methodologies in the development of products and processes. The program will provide in-depth knowledge and technical skills in the field of industrial and operations engineering and prepare students for technically significant careers within industry, government, and other organizations. As part of the degree program, all students will have the opportunity to combine general methodological knowledge with a focus on an application area of interest.

Program Committee

James C. Spall, Program Chair
Principal Professional Staff
JHU Applied Physics Laboratory
Research Professor, Department of Applied Mathematics and Statistics
JHU Whiting School of Engineering

Tridip Bardhan
Chair, Department of Industrial and Systems Engineering
Morgan State University

Beryl Castello
Senior Lecturer, Department of Applied Mathematics and Statistics
JHU Whiting School of Engineering

Courses

EN.715.641. Engineering Economics. 3 Credits.

This course is designed to help analysts make rational decisions when faced with allocating resources and managing tradeoffs in a resource-constrained setting with an economic point of view. The ability to make informed decisions resting on an objective analysis of alternatives is a part of nearly every professional career. The concepts developed in the course are broadly applicable to decision making in many professional and personal settings, including purchasing, evaluating different personal or commercial investment options, and balancing environmental and social costs against economic costs. Course topics include the concepts of the time value of money and discounted cash flow, decision making in the face of uncertainty, evaluation of single and mutually exclusive alternative projects and products utilizing economic worth, internal rate of return, depreciation and income-tax analysis.

Prerequisite(s): Multivariate calculus and introductory graduate-level statistics (e.g., EN.625.603). An introductory course in optimization (e.g., EN.625.615) is also recommend but not required.