A Suggested Course on Industrial Economics and Business Methods

IN VIEW of the frequent criticism of engineers to the effect that they do not pay sufficient attention to economic and business factors, a brief review of the present activities of engineers is given. It is pointed out that they are extensively and successfully handling economic problems relating directly to their specific line of work but that they are inclined to overlook other economic and business factors equally important but somewhat removed from their daily tasks. In order to stimulate the interest of the younger engineers in economics and to give them a broader viewpoint of the business enterprises in which they will be engaged, a brief but fairly comprehensive course on ``industrial economics and business methods'' is advocated to be given in preference to some of the highly specialized technical courses now forming part of the undergraduate curricula. The paper outlines the type of subjects which seem suitable for this course and further recommends that analytical methods of attack be employed to a greater extent than is now customary in economic studies.