Specification and Requirements of Economic Systems Engineering
Introduction
Economic systems engineering is a relatively new field which combines the traditional engineering approaches with the economic principles and techniques. Economic systems engineering provides a means of designing and constructing economic systems which are efficient, effective, and provide a better quality of life for their citizens. It is the application of engineering principles, methods and tools to assist in the design, evaluation and optimisation of economic systems such as industries, towns, cities, countries and states.
This document specifies the requirements for a course in economic systems engineering. It includes an overview of the course, the reasons for taking the course, what to expect from the course, and recommended books and other reading material.
Overview of the Course
This course will provide students with an understanding of the principles and methods of economic systems engineering. The primary purpose of the course is to enable students to design, construct and evaluate economic systems, with a special focus on what works and what does not. The course will cover a range of topics, including basic economic theories, economic models, systems theory, technical and mathematical approaches, information systems, decision-making and optimization techniques, as well as various aspects of business and industry.
Reasons for Taking the Course
Students taking this course will be able to combine economic principles and engineering tools to design and construct economic systems, with a particular focus on how these systems can better provide a quality of life to its citizens. Further, in this course, students will be able to gain an understanding of the principles of economic systems engineering, applied to industry, business and society. Through this course, students will be able to gain a unique set of skills and knowledge that can be applied in industry, government, non-profit organisations, and in other areas of life.
What to Expect from the Course
This course is designed to provide students with a comprehensive understanding of both the theoretical and practical aspects of economic systems engineering. During the course of the class, students should expect to learn about the principles of economics and engineering, and will be able to apply them to real-world problems that arise in industries, governments and organisations. A range of topics will be covered, such as economic theories and models, systems theory, technical and mathematical approaches, decision-making and optimization techniques, information systems, and various aspects of business and industry. Students should also expect to learn how to apply economic principles and engineering tools to the development of economic systems, in order to improve their effectiveness and efficiency.
Recommended Books and Reading Material
Below is a list of recommended books and fields related to the course of economic system engineering:
• The Design of Economic Systems by Richard Gray (2015)
• Engineering Economics by William G. Sullivan et al. (2013)
• Fundamentals of Economics by Parkin et al. (2011)
• Systems Engineering and Analysis by Benjamin S. Blanchard et al. (2012)
• Economics of Information Technology by Niv Long et al. (2016)
• Principles of Business and Information Systems Engineering by Pinel et al. (2014)
• Economics of Regulation by R. Shearmur et al. (2017)
• Economics of Complex Systems by Jean-Philippe Bouchaud et al. (2015)
• Economic Growth and Development by William Easterly et al. (2016)
• Principles of Operations Research by Frederick Hillier et al. (2016)
Conclusion
The aim of this document was to provide a brief overview of the requirements for a course in economic systems engineering. This course is designed to equip students with the skills and knowledge required to design, construct and evaluate economic systems with a particular emphasis on improving the quality of life for the citizens of these systems. Students taking this course can expect to learn about a range of topics such as economic theories and models, systems theory, technical and mathematical approaches, decision-making and optimization techniques, information systems, and various aspects of business and industry. The above list of recommended books and reading materials can be used as a starting point for further research, should students choose to further explore this subject.
