My prior coursework at another school seems to be identical to one of the courses required for my degree. Can I be waived from taking this course and use those credits to take elective courses?

It may be possible to be waived from a degree requirement, the credits would then become additional elective credits for your degree program.  Complete the Petition for Waiver of Academic Regulations, attach your transcripts, a course description and syllabus. Turn the form in at your Graduate School.  If approved, the waiver will be included in your student file and you will be registered for a waiver course.  You should make an appointment to meet with your academic advisor to review your study plan and make any needed changes.