Economic Decision Making: Modeling and Selecting Alternatives

How do organizations choose the best path forward when faced with multiple viable solutions? Making sound financial decisions requires a structured approach to modeling and comparing economic alternatives. This course provides a clear, step-by-step framework to evaluate costs, benefits, and risks so you can confidently recommend the most financially viable options. By reading through real-world scenarios and analyzing practical case studies, you will transition from intuitive guessing to systematic economic analysis. You will learn how to structure decision problems, apply modern evaluation metrics, and account for uncertainty in your calculations. What you'll learn: Understand foundational economic concepts and key terminology for decision analysis; Construct quantitative economic models to compare competing project alternatives; Apply evaluation metrics like Net Present Value (NPV), Internal Rate of Return (IRR), and payback periods; Analyze risk and uncertainty using sensitivity analysis and modern decision-tree modeling; Incorporate sustainability and environmental factors into traditional cost-benefit analyses; Practice formulating clear, data-backed recommendations for organizational stakeholders. This course begins with essential definitions and decision-making principles before guiding you through hands-on modeling techniques and evaluation scenarios. It is designed specifically for beginners, business professionals, and aspiring analysts, requiring no prior background in advanced finance or economics. Start building your economic analysis skills and learn to make smarter, data-driven business choices today.