Engineering Economics
Okay kiddo, engineering economics is like playing with money to make important decisions in building things.
Imagine you have some money and want to buy a toy. You need to think about how much money you have and how much the toy costs. Maybe you also want to spend some money on candy or save some for later.
Similarly, engineers use economics when building bridges, machines, or buildings. They consider how much everything will cost, like the materials and labor, and how long it will take to build. They also think about how long it will last and how much it will cost to maintain.
But that's not all! Engineering economics also helps with deciding if a project is worth doing. Just like you might think about if the toy is worth the money you have, engineers think about if the building or machine will make enough money to cover the costs.
So, engineering economics helps engineers make smart choices in building things by considering how much it will cost, how long it will last, and whether it's worth doing.
Imagine you have some money and want to buy a toy. You need to think about how much money you have and how much the toy costs. Maybe you also want to spend some money on candy or save some for later.
Similarly, engineers use economics when building bridges, machines, or buildings. They consider how much everything will cost, like the materials and labor, and how long it will take to build. They also think about how long it will last and how much it will cost to maintain.
But that's not all! Engineering economics also helps with deciding if a project is worth doing. Just like you might think about if the toy is worth the money you have, engineers think about if the building or machine will make enough money to cover the costs.
So, engineering economics helps engineers make smart choices in building things by considering how much it will cost, how long it will last, and whether it's worth doing.