1) To introduce the concepts of net present value (NPV) and internal rate of return (IRR) as economic value metrics. 2) To build facility with free cash flow calculations, including assumptions related to net working capital (NWC) investment, NWC recovery, and asset salvage value. 3) To explore less direct economic measures such as payback period. 4) To discuss the degree to which modeling needs to be precise to be informative. 5) To develop economic intuition as to the drivers of economic value.