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As a student of engineering you may question the need for a study of economic analysis. You may ask, "Is it not enough for me to be a good engineer? I am not an accountant. If I face the need for doing any significant amount of computations dealing with money, I will ask the accountant in my company to do that work for me. After all, I was hired to do engineering, not economic analysis." Such questions are not unreasonable. And you may be right, if you are a junior staff at a relatively large company. You will not be asked to decide on strategies related to new products, increased output, or major investment in equipment. But if you are working for a small company or are running your own company, you will have to deal with decisions of an economic nature. And even if you are working for a large company, sooner or later, as you advance through more responsible positions, you will have decide on economic matters. A study of engineering economics will help you at that time. |