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What is the Difference between economics and engineering economics?
Wiki User
∙ 11y ago
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.
Wiki User
∙ 11y ago
WALEED SHAHID
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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