Oh it's a good one. Take it you won't regret it.
You get insight into the magic of programming languages, their comparative characteristics, transformation of high-level code into its executable form. You'll better understand many language features, will have a broader view of what is possible and how those things are done. You'll just see it all with different eyes.
It is wise to spend time at university to learn fundamental things of CS. Concrete programming languages, tools and libraries they all come and go, but the foundation stays.
Also if you survive the course (provided it will be serious) you may then congratulate yourself of having the right brain for programming. Get some practical project done with this theory, mention it in your resume and you will very much raise interest with good employers.