Many of today's products, solvents, lubricants, heat transfer fluids, and coatings will be replaced within the next 25 years. New generations of chemical products with superior performance and lesser or zero environmental impact will take their place. Specialty chemicals tailored for specific applications will be produced in small quantities and have market lives of only few years. One factor driving this vision into reality is the continuing advances made in the computer-aided design of molecules. Most of these software tools assist the chemist in designing chemicals with desired structural properties. New tools are becoming available to assist chemical engineers in designing chemicals with desired physical properties. This paper describes a new course on computer-aided product development. The course aims towards modernizing the foundation of the chemical product engineering subject area to be based upon novel computer-aided methods and knowledge within the molecular level perception of chemical products and processes. Traditionally, process systems engineering is concerned with the computer-aided design of processes, and the operation and control of these processes throughout their lifecycle. As the materials of interest to the modern chemical industry become ever more complex, engineers rely on increasingly sophisticated computer-aided techniques and integrated viewpoints for the characterization of product properties, product behaviour and product economy. During the past fifteen years, theoretical and algorithmic advances along with the revolution in computing technology have made it possible for design questions of practical importance to be addressed by CAMD and other computer-aided methods. The advances offered by these methods will continue to make inroads in the chemical and related industries in the coming decade. All course modules have tutorials involving hands-on computer sessions where participants formulate and solve CAMD problems, evaluate solution and method/tool performances, learn about method/tool deficiencies, learn about modelling inconsistencies and application of estimation techniques to practical problem solving. Industrial guest lectures are given.