We present an X-ray spectral and timing analysis of 4U 1543-47 during its 2002 outburst based on 49 pointed observations obtained using the Rossi X-ray Timing Explorer (RXTE). The outburst reached a peak intensity of 4.2 Crab in the 2-12 keV band and declined by a factor of 32 throughout the month-long observation. A 21.9 +- 0.6 mJy radio flare was detected at 1026.75 MHz two days before the X-ray maximum; the radio source was also detected late in the outburst, after the X-ray source entered the low hard state. The X-ray light curve exhibits the classic shape of a rapid rise and an exponential decay. The spectrum is soft and dominated by emission from the accretion disk. The continuum is fit with a multicolor disk blackbody (kT_{max} = 1.04 keV) and a power-law (Gamma ~ 2.7). Midway through the decay phase, a strong low-frequency QPO (nu = 7.3-8.1 Hz) was present for several days. The spectra feature a broad Fe K alpha line that is asymmetric, suggesting that the line is due to relativistic broadening rather than Comptonization. Relativistic Laor models provide much better fits to the line than non-relativistic Gaussian models, particularly near the beginning and end of our observations. The line fits yield estimates for the inner disk radius that are within 6 R_g; this result and additional evidence indicates that this black hole may have a non-zero angular momentum.
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