Teacher: Dr. SHAIJUMON C S, Associate Professor Humanities

Basics of Economics August2026

An aerospace engineer’s role is fundamentally concerned with optimizing scarce resources to develop effective solutions to problems faced by the economy and society. Engineers draw upon their knowledge of science, mathematics, logic, economics, professional experience, and tacit knowledge to identify and implement appropriate solutions to complex problems.

An understanding of economic principles enables aerospace engineers to better navigate the complexities of the aerospace industry, including market demand, competition, resource allocation, investment decisions, and regulatory environments. Such knowledge supports more informed decision-making and strategic planning, while contributing to the development of innovative, economically viable, and sustainable aerospace technologies and systems.

This course is designed to introduce non-specialist students to some of the fundamental principles and concepts of economics. The underlying approach is to make economic principles easier to understand by relating them to concrete, familiar, and relevant issues in the aerospace sector and the broader economy and society.

Teacher: Dr. SHAIJUMON C S, Associate Professor Humanities

Fundementals of Economics August 2026

This course aims to provide students with a foundational understanding of the key concepts and principles of economics. By exploring how economic forces shape markets, institutions, and society, students will develop an inquisitive approach to understanding the economy around them and relating economic theories to issues relevant to their fields of study.

An understanding of economics will enable science and technology students to appreciate the wider social, economic, and market implications of scientific and technological advancements. It will also help them make more informed and responsible decisions when evaluating the development, adoption, and application of new technologies. Ultimately, a strong foundation in economics will enable students to complement scientific and technical expertise with economic reasoning, allowing them to contribute more effectively and holistically to their respective fields.