Explain the relationship of engineering and economics with each other
Answers
Engineering is like applied physics with constraints, many economical. Economy can be interpreted in many ways such as financial, energy efficiency, environmental etc.
Engineering, by its very definition is cited (Oxford dictionary) as:
The branch of science and technology concerned with the design, building, and use of engines, machines, and structures.
Each of these are specific to certain conditions of use. To engineer something is to bridge between practical and optimal.
In a more macroscopic sense the field of engineering changes with the economy. If your country had a larger defence budget chances are your naval / aerospace industries will grow. If the price of oil reduces, funding is moved away from renewable energy engineering; the opposite of oil prices shoot up.
So both are interlinked in many ways. I hope this has helped!