Economics of Energy and Electrical Engineering

Economics () is the social science that studies the production, distribution, and consumption of goods and services.

Electrical engineering is a professional engineering discipline that generally deals with the study and application of electricity, electronics, and electromagnetism. This field first became an identifiable occupation in the later half of the 19th century after commercialization of the electric telegraph, the telephone, and electric power distribution and use. Subsequently, broadcasting and recording media made electronics part of daily life. The invention of the transistor, and later the integrated circuit, brought down the cost of electronics to the point they can be used in almost any household object.

In physics, energy is the quantitative property that must be transferred to an object in order to perform work on, or to heat, the object. Energy is a conserved quantity; the law of conservation of energy states that energy can be converted in form, but not created or destroyed. The SI unit of energy is the joule, which is the energy transferred to an object by the work of moving it a distance of 1 metre against a force of 1 newton.

Engineering is the creative application of science, mathematical methods, and empirical evidence to the innovation, design, construction, operation and maintenance of structures, machines, materials, devices, systems, processes, and organizations. The discipline of engineering encompasses a broad range of more specialized fields of engineering, each with a more specific emphasis on particular areas of applied mathematics, applied science, and types of application. See glossary of engineering.