Engineering economics

Studying the essence and specifics of engineering economics from the aspect of business decision making by engineers.

Understanding the problems of engineering economics and ability to apply methods and techniques in the field of engineering economics.

Theoretical classes

Principles and development trends of engineering economics. Concepts of modern business. Analysis of supply and demand. The importance of information economics. Modern production and costs. Functions of costs. Making engineering decisions based on cost information. Measures to reduce costs. Price strategies. Optimal engagement of company capital. Complexity of newer approaches and methods of measuring business performance. Increasing revenue and improving profitability. Importance of information support for decision-making in the field of engineering economics. Digitalization of business. Business networks and Internet.

Practical classes

Study research work.

1. Milićević V., Ilić B. Business Economics (parts of a book), Faculty of Organizational Sciences, Belgrade 2014
2. Ilić B., Milićević V. Cost Management – Strategic Framework (parts of a book), Faculty of Organizational Sciences, Belgrade 2009
3. J.A. White, К.E. Case, D.B. Pratt Principles of Engineering Economic Analysis (delovi knjige), Wiley 2009
4. Milićević V. Internet ekonomija (delovi knjige) Fakultet organizacionih nauka, Beograd 2002
5. Chan S. Park Contemporary Engineering Economics, 6th edition, (delovi knjige) Pearson, Boston 2016