Engineering Economics as a General Education Course to Expand Quantitative and Financial Literacy

This paper presents the case for why engineering economics should be a commonly accepted general education course. Currently, most engineering courses are not considered appropriate for the general education of a college or university student. In the past an engineering economics course focused primarily on financial mathematics; however, the modern engineering economics course centers on financial decision making in addition to financial mathematics. These topics are applicable, if not mandatory, for students pursuing interests in engineering, law, product development, public service, entrepreneurship, marketing, business, finance, political science, sociology, government, and ethics. This issue is timely because schools at various levels (e.g., K-12, community colleges, and universities) are including the concepts of quantitative and financial literacy into their required curricula, with some being required by state law.