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Economics is the theory of how to best divide resources up between between agents to maximize their utility.

Engineering economics would be the theory of how to design a product in the most cost-efficient and reliable way.

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11y ago
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WALEED SHAHID

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2y ago

Economics is a social science that deals with production, distribution and consumption of goods and services. Its main branches are Microeconomics and Macroeconomics.

It is a subset of economics concerned with the use and application of economic principles in the analysis of engineering decisions.

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Q: What is the Difference between economics and engineering economics?
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