IMPORTANCE OF ENGINEERING ECONOMICS IN

TELECOMMUNICATION ENGINEERING
Engineering economics is a field that addresses the vital environment of economic
calculations and principles through the prism of engineering. It is a fundamental skill that all
successful engineering firms employ in order to keep reasonable advantage and market share.
Many schools across the country have integrated courses in engineering economics for their
students, thereby providing them with the tools to improve profits, minimize costs, examine
various situations, forecast variations in business cycles, and more. Despite the importance of
this field, many universities are unable to effectively teach economic concepts to engineering
students in ways they are able to understand.
Engineering economics studies various financial and economic problems universal to engineers
in a variety of industries. Like all engineering courses, economics-based engineering courses
have a strong quantitative constituent; however, unlike the more traditional courses, studying
engineering economics requires extreme springiness in learning style that is conducive towards
understanding interdisciplinary material. As a result, students who have taken courses in the
aforementioned field obligate adopted a variety of techniques that have been shown, both
experientially and empirically, to permit higher order learning and critical thinking.