Economics

Engineering Economics is the procedure of making rational and smart decisions associated with the allocation of scarce resources in circumstances in which substitutes can be computed. This course gives engineers with skills to evaluate the costs and benefits of engineering investments, such as product and technology development programs and capital purchases. It also presents the framework for selecting among alternative designs, for managing technologies over their lifecycles, and for evaluating the finances of new ventures/projects.

At the end of the course student should able to
CO1: Apply the basic concepts of economics in the field of Engineering.
CO2: Apply economic analysis techniques for engineering applications.