Skip to main content

Engineering Economics: Home

Course Objectives: The objective of the course is to create awareness amongst the students about the economic considerations involved in engineering.

Introduction

Engineering economics, previously known as engineering economy, is a subset of economics for application to engineering projects. Engineers seek solutions to problems, and the economic viability of each potential solution is normally considered along with the technical aspects. Fundamentally, engineering economics involves formulating, estimating, and evaluating the economic outcomes when alternatives to accomplish a defined purpose are available.

Some other topics that may be addressed in engineering economics are inflation, uncertainty, replacements, depreciation, resource depletion, taxes, tax credits, accounting, cost estimations, or capital financing. All these topics are primary skills and knowledge areas in the field of cost engineering.

Ask Query

Gallery

Library Timing

Information Advisor

Muhammad Arif Raza's picture
Muhammad Arif Raza
Contact:
Information Services Department
Riphah International University
G-7/4, Islamabad

Level

Undergraduate

                Undergraduate