Understanding Engineering, Economics, and Managerial Economics
Explore the world of engineering, economics, and managerial economics in this insightful content. Learn how these disciplines contribute to societal development, job opportunities, economic growth, and essential services. Discover the application of scientific principles in designing structures, machines, and more, as well as the study of resource optimization in economics. Managerial economics combines economic and managerial theories to aid decision-making in business. Dive into the quantitative aspects of physical inputs and production functions with managerial economists. Embrace the challenges and opportunities in the field of engineering as it evolves to attract a diverse range of talents. Gain valuable knowledge that can connect you to rewarding job prospects and vital services for the country.
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Presentation Transcript
17/ENG02/015 COMPUTER ENINEERING ENG 384 TO ENG. O.J OYEBODE.
Engineeringis the use of scientific principles to design and build machines, structures, and other items, including bridges, tunnels, roads, vehicles, and buildings. The discipline of engineering encompasses a broad range of more specialized fields of engineering, each with a more specific emphasis on particular areas of applied mathematics, applied science, and types of application. See glossary of engineering.
????? In simple terms economics is a social science. Its basic function is to study how people individuals, households, firms & nations maximize their gains from their limited resources & opsportunities
?????? Managerial economics deals with the application of the economic concepts, theories, tools, and methodologies to solve practical problems in a business. In other words, managerial economics is the combination of economics theory and managerial theory. It helps the manager in decision- making and acts as a link between practice and theory.
???????????? It is concerned with quantitative aspects of physical inputs. Given the technology and the nature of the product, the managerial economiststudies the production function of the firm-the economies and diseconomies of scale, the minimum efficient scale of the plant
These are the visible and noticeable changes and developments in the situation of the country and some of these infrastructural developments in which engineering law and managerial economics has embedded on us are ; economic growth in which our economy as a whole improves and become stringer and better than ever, provision of jobs; job opportunities would be provided due to this particular studies having a valuable knowledge could get you hooked up with a really good job, and it also delivers vital services to the country.
Engineering as a human Endeavour is also facing numerous additional challenges of its own, including attracting and retaining broader cross-sections of our youth, particularly women; strengthening the educational enterprise; forging more effective interdisciplinary alliances with the natural and social sciences and the arts; enhancing our focus on innovation, entrepreneurship and job creation, and; promoting increased public awareness and support for the engineering enterprise. This volume, the first UNESCO Report on engineering, is an attempt to contribute to greater international understanding of the issues, challenges and opportunities facing engineering, with a particular focus on contributions of our discipline to sustainable development.
