Why should an Engineer Know Economics?

  • Jul 26, 2021
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The economy is part of the training of a large number of professionals and engineers, who many times do not They are clear about what economics is studied for, considering that the study of this is the least quantitative of all the Sciences. Here are some reasons:

  • Helps to make decisions in the professional field
  • Projects have to be profitable to be viable, and it is necessary to do a cost-benefit analysis taking into account financial viability and supply and demand studies, basic concepts of the study of the economy
  • Because economic control is essential in any project in progress. Although this is a clear concept, there are cases in which economically unviable projects are executed, which discredits the professional.
  • Because in any department of a company you have to develop economic planning, and you have to know how to justify and defend your position.

In general, economics specialists may think that these concepts are very obvious to any professional, but in reality there is a lack of knowledge, sometimes total of the economy.

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