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What is the Difference between economics and engineering economics?

Updated: 9/22/2022

Wiki User

∙ 11y ago

Best Answer

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

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WALEED SHAHID ∙

Lvl 2

∙ 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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