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People also ask
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Who is considered the father of engineering?
Benjamin Wright, a surveyor by training and education, while also a judge and civic leader, came to be regarded as the "Father of American Engineering." Wright, along with notable early American engineers such as James Geddes, John Sullivan, and John Jervis, was of the so-called "Erie Canal School of Engineering."
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What is the connection between engineering and economics?
Engineering Economics: This specific field is all about applying economic principles to engineering decisions. Engineers use economic theories to assess things like project costs, feasibility, and resource allocation. This helps them choose the most efficient and cost-effective solutions for a given problem.
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What is the meaning of engineering economics?
Fundamentally, engineering economics involves formulating, estimating, and evaluating the economic outcomes when alternatives to accomplish a defined purpose are available. In some U.S. undergraduate civil engineering curricula, engineering economics is a required course.
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Who is the father of engineering economic analysis?
Wellington, a civil engineer, pioneered engineering interest in economic evaluation. His interest was railway in USA. A text book Principles of Engineering Economy, New York: The Ronald Press Company, 1930, was published by Eugene Grant. He is considered as the father of engineering economy.
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Who is father of engineering economics?
A text book Principles of Engineering Economy, New York: The Ronald Press Company, 1930, was published by Eugene Grant. He is considered as the father of engineering economy.
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What is the industrial organization theory of economics?
The economic theory of industrial organisation holds that the industrial cluster is created when a number of similar enterprises producing the same or similar products come together with complementary upstream and downstream enterprises and relevant service industries, and conduct their business in close proximity so ...
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