Civil engineering focuses on providing basic amenities to the public. Without considering economics, there are very few limits on the scale of what could be undertaken (a 10-bedroom mansion vs. a 1-bedroom cottage). Taking economic restrictions into account, it is the duty of Civil Engineers to balance the opposing forces of cost and product.
Beyond this, as in any industry, if your competetor can provide more for less, assuming comparable quality, they will get the work.
Engineering Economics is imprtant to the engineers for planning,designing, cost-benifit of the product & Time value of money.These are all take into the mind before manufacturing.
Engineers seek solutions to problems, and the economic viability of each potential solution is normally considered along with the technical aspects.
Important of economic to electrical/electronics student
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Engineering economics is the application of economic techniques to the evaluation of design and engineering alternatives.1 The role of engineering economics is to assess the appropriateness of a given project, estimate its value, and justify it from an engineering standpoint.
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Importance of elasticity in economics
five importance of labour economics
importance of statistics in field of economics
Engineering economics is the application of economic techniques to the evaluation of design and engineering alternatives.1 The role of engineering economics is to assess the appropriateness of a given project, estimate its value, and justify it from an engineering standpoint.
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what is importance of health economics in nurses
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Engineering economics is the body of knowledge devoted to the systematic evaluation of network of benefits resulting from proposed engineering and business ventures in relation to the expenditure associated with the undertaking.
what universities offer courses in engineering economics through corespondence study
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