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ENGINEERING ECONOMY – THE POSITION AND TASKS IN CONTEMPORARY CONDITIONS

By
Dejan Milovanović ,
Dejan Milovanović
Contact Dejan Milovanović

Departman za ekonomsku geologiju, Rudarsko-geološki fakultet, University of Belgrade, Belgrade, Serbia

Radule Tošović
Radule Tošović

Departman za ekonomsku geologiju, Rudarsko-geološki fakultet, University of Belgrade, Belgrade, Serbia

Editor: Neđo Đurić

Abstract

Practically in all domains of engineering activities and buisness good knowladge of economic problems is required, because it provides among other elements optimal decision making. In harmony with it microeconomic discipline engineering economicsis developing with high intesity, as in practically so also in practical sense. This discipline is getting more and more importance i domestic (Serbian) condition too.

The paper presents the most important problems from engineering economic in general as well these which the mining and geological engineers are confronted with. In both professions decisions are making in nerrow connection with huge capital investments, which challange far reaching and long term consequences. The capital investment in descovery and geological exploration on new mineral deposits and mineral raw reserves require monitoring and economic evaluaiton of all relevant economic indicators. The special significiance is connected with preparing the reports on mineral resources (reserves) and particularly its part including technical-economical evaluatinon. To elaborate this evaluation isn’t possible without judgement dinamic and static methods of determination corresponding economic effectivness of investment projects with reference to investment in maintaining and expanding of existing and new mine construction. Besides these, the sustainable mineral economy requires qualitative knowladge and practice application of cost-benefit analyses but likewise other analitical-sintetical approaches as it is SWOT analyses and risk analyses.

Citation

This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. 

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