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Last update: 27 Feb, 2024 248 Views

What is engineengineering economics? Engineering economics, previously known as engineering economy, is a subset of economics concerned with the use and "...application of economic principles" in the analysis of engineering decisions.

Is engineering economics a required course for civil engineering? In some U.S. undergraduate civil engineering curricula, engineering economics is a required course. It is a topic on the Fundamentals of Engineering examination, and questions might also be asked on the Principles and Practice of Engineering examination; both are part of the Professional Engineering registration process.

How is engineering economics related to other branches of economics? Engineering economics. But, it is also a simplified application of microeconomic theory in that it avoids a number of microeconomic concepts such as price determination, competition and demand/supply. As a discipline though, it is closely related to others such as statistics, mathematics and cost accounting.

What is engineering economics in simple words? Engineering economics. As a discipline, it is focused on the branch of economics known as microeconomics in that it studies the behavior of inpiduals and firms in making decisions regarding the allocation of limited resources. Thus, it focuses on the decision making process, its context and environment.

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EEI Team Professional Engineering Services

Engineering Economics, Inc. (EEI) is a commissioning firm with a national presence. We provide consulting, commissioning, and infrastructure renewal services from 13 offices across the United States. To find the office nearest you, please click the link below.

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