CEE 307 Engineering Economics
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Engineering Economics, as per the course CEE 307 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.
Fundamentally, engineering economics includes formulating, evaluates the economic outcomes when options to complete a defined purpose are available. Cash flows are discounted by implementing an interest rate, except in the most basic economic studies.
Engineering economics also, as per the course CEE 307 Engineering Economics, plays a massive role in all engineering decisions. It is also concerned with the monetary consequences, financial analysis of the projects, products and processes that engineers design.
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