Linear Programming -OR- Engineering Economics?

In summary, the conversation discusses which elective would be more beneficial for an undergraduate Chem Engineer. The options are Eng Econ and a math course for physical sciences. The group agrees that having a basic understanding of economics is important for decision making, but the Chem Eng major should already have a strong foundation in math. They also mention that the math course would be more practical in applying their skills to real-world problems.
  • #1
amb123
98
0
As an elective for undergraduate Chem Engineer, which would be better to have?

Thanks.
-A
 
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  • #2
Well you should have an understanding of economics. This plays a role in decisions making.
 
  • #3
I say Eng Econ. If you're a Chem Eng major then you are going to have plenty of math under your belt, and you should be able to digest linear programming sans probleme. I never took linear programming, and in the space of an hour I learned enough of it to tutor a kid who was taking the class.
 
  • #4
Thanks, guys. I have taken Macro Eco already, but it has been a while. I was not a huge fan, but I think this course will be more practical.

I am also planning to take a math course to help me use the tools I have learned in practical problems. [Math for physical sciences].

-A
 

What is linear programming?

Linear programming is a mathematical method for finding the best solution to a problem with multiple constraints. It involves optimizing a linear objective function subject to linear constraints.

What are the applications of linear programming?

Linear programming is widely used in business, economics, engineering, and other fields to solve optimization problems. Some common applications include production planning, resource allocation, transportation planning, and portfolio optimization.

What are the limitations of linear programming?

Linear programming assumes that all variables are continuous and can take on any value within a given range. It also assumes that the relationships between the variables are linear. These assumptions may not hold true in all real-world situations, limiting the applicability of linear programming.

What is the difference between linear programming and integer programming?

Integer programming is a type of linear programming that involves optimizing a linear objective function subject to linear constraints, with the additional restriction that some or all of the decision variables must be integers. This makes integer programming more complex and computationally intensive than linear programming.

What is engineering economics?

Engineering economics is a branch of economics that applies economic principles to engineering projects and decisions. It involves analyzing the costs and benefits of different options to determine the most financially feasible and efficient solution for a given project or problem.

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