It's generally frowned upon since reverse engineering has historically been used for black hat purposes. Further, due to some sticky legal restrictions, I can easily see it being troublesome to have a course focus on it.
Whether it's in software engineering or other engineering fields, I don't see how a university could justify having a reverse engineering course. Sure, there are some legitimate reasons to do reverse engineering some times, but it's the exception more than the rule and, at the end of the day, you don't really need any special knowledge in addition to your normal "forward" engineering knowledge.
I did some reverse engineering work once, for legitimate reasons, because the company I was working for had an old product that they had been mass producing for decades but had lost all records of its design, and the guy who designed it was dead. But such cases are rare, and when you have to do it, there's no secret to it, it's just the same knowledge and skills required. But it sure is fun to do though! It's a little bit like technological archeology, where the final product is all that remains of a long and complex design process that you have to attempt to reconstruct.