Conspecuts Commercial and emerging renewable energy technologies are underpinned by precious metal catalysts, which enable the transformation of reactants into useful products. However, the noble metals (NMs) comprise the least abundant elements in the lithosphere, making them prohibitively scarce and expensive for future global-scale technologies. As such, intense research efforts have been devoted to eliminating or substantially reducing the loadings of NMs in various catalytic applications. These efforts have resulted in a plethora of heterogeneous NM catalyst morphologies beyond the traditional supported spherical nanoparticle. In many of these new architectures, such as shaped, high index, and bimetallic particles, less than 20% of the loaded NMs are available to perform catalytic turnovers. The majority of NM atoms are subsurface, providing only a secondary catalytic role through geometric and ligand effects with the active surface NM atoms. A handful of architectures can approach 100% NM utilization, but severe drawbacks limit general applicability. For example, in addition to problems with stability and leaching, single atom and ultrasmall cluster catalysts have extreme metal-support interactions, discretized d-bands, and a lack of adjacent NM surface sites. While monolayer thin films do not possess these features, they exhibit such low surface areas that they are not commercially relevant, serving predominantly as model catalysts. This Account champions core-shell nanoparticles (CS NPs) as a vehicle to design highly active, stable, and low-cost materials with high NM utilization for both thermo- and electrocatalysis. The unique benefits of the many emerging NM architectures could be preserved while their fundamental limitations could be overcome through reformulation via a core-shell morphology. However, the commercial realization of CS NPs remains challenging, requiring concerted advances in theory and manufacturing. We begin by formulating seven constraints governing proper core material design, which naturally point to early transition metal ceramics as suitable core candidates. Two constraints prove extremely challenging. The first relates to the core modifying the shell work function and d-band. To properly investigate materials that could satisfy this constraint, we discuss our development of a new heat, quench, and exfoliation (HQE) density functional theory (DFT) technique to model heterometallic interfaces. This technique is used to predict how transition metal carbides can favorably tune the catalytic properties of various NM monolayer shell configurations. The second challenging constraint relates to the scalable manufacturing of CS NP architectures with independent synthetic control of the thickness and composition of the shell and the size and composition of the core. We discuss our development of a synthetic method that enables high temperature self-assembly of tunable CS NP configurations. Finally, we discuss how these principles and methods were used to design catalysts for a variety of a...