Economics
: is the social science that studies
the production, distribution, and consumption of goods
and services. The word 'economics' is from the Greek
for hence "rules of the house(hold)."
A definition
that captures much of modern economics is that of Lionel
Robbins in a 1932 essay: "the science which studies
human behaviour as a relationship between ends and scarce
means which have alternative uses." Scarcity means
that available resources are insufficient to satisfy
all wants and needs. Absent scarcity and alternative
uses of available resources, there is no economic problem.
The subject thus defined involves the study of choices
as they are affected by incentives and resources. History
of economics:
Although
discussions about production and distribution have a
long history, economics in its modern sense is conventionally
dated from the publication of Adam Smith's The Wealth
of Nations in 1776. In this work Smith defines the subject
in practical terms.
The
Institute of Electrical and Electronics Engineers
:-
The IET represents the engineering profession
in matters of public concern and assists governments
to make the public aware of technological issues. It
also provides advice on all areas of engineering, regularly
advising Parliament and other agencies.the IET also
grants Chartered Engineer and Incorporated Engineer
professional designations on behalf of the
Engineering
Council UK, equivalent to North American Professional
Engineer designations, but with often a far greater
geographical recognition.
This is made possible through a number of networks for
engineers established by the IET including the
Professional
Networks, worldwide groups of engineers sharing common
technical and professional interests. Through the IET
website, these networks provide up-to-date sector-specific
news, stock a library of technical articles and give
members the opportunity to exchange knowledge and ideas
with peer groups through dedicated discussion forums.
Particular areas of focus include education, IT, energy
and the environment. |
