Part One – Definition and Role of Engineering Economy in Decision Making

Search a minimum three different web sites that explain the definition, concepts, and general knowledge of Engineering Economy (EE). You will write your definition of EE and list one typical situation in the operation of an organization where an engineering economic analysis would significantly assist decision-making. You may assume a specific type of organization (e.g., manufacturing firm, medical health center, hospital, transportation company, or government agency), if it will assist in developing your answer. To get an idea of how Engineering Economy principles can be applied in investment analysis and decision making, read examples from your textbook, Chapter One.

Part Two – Professional Ethics

Our society needs professionals who have strong technical and management skills, together with great ethical conducts. The purpose of this section is for students to think of ethics as part of their work, also creating a practical method of delivering ethics to students in Sciences, Engineering, and Technology. The assignment is to visit the suggested websites and answer questions.

You will read from the following websites to learn about definition of professional ethics and code of ethics for engineers.

1)Visit website https://managementhelp.org/businessethics/index.htm and read the definitions of business ethics.

2)Visit websites https://www.nspe.org/resources/ethics/code-ethics and https://www.ieee.org/about/corporate/governance/p7-8.html and read codes of ethics from National Society of Professional Engineers (NSPE) and Institute of Electrical and Electronic Engineers (IEEE).

Then, answer the following questions:

1. Is it possible for employee to be successful in the workplace without acting ethically? Explain.
2. Why does each professional field have its own codes of ethics?
3. Can you suggest an effective method in teaching ethics for students in Sciences, Engineering, and Technology fields? Explain and provide examples or related websites (if any).