| Purpose: The subject of economics has much to do with the optimal utilisation of scarce resources. Engineering involves the cost-effective utilisation of technological and scientific knowledge and skills to benefit humankind. If solutions to engineering problems are not cost-effective, it has little use for society in general. The purpose of this module is to introduce engineering students to the business, management and economic environments and to expose them to the major concepts and techniques of engineering economics. This module will be useful to students as well as technical people such as engineers, technologists, scientists and technicians who want to undertake more advanced studies or research that are of a techno-economic nature. |
