Engineering economics (civil engineering)

The study of Engineering Economics in Civil Engineering, also known generally as engineering economics, or alternatively engineering economy, is a subset of economics, more specifically, microeconomics. It is defined as a "guide for the economic selection among technically feasible alternatives for the purpose of a rational allocation of scarce resources." Its goal is to guide entities, private or public, that are confronted with the fundamental problem of economics.

Source: Wikipedia — Engineering economics (civil engineering) (CC BY-SA 4.0)