The study of economics provides valuable knowledge for decision making in day to day life of people. Economics knowledge is essential in daily lives of people. Economics includes all the activities related to monetary terms or all the monetary actions in everyday lives of people. Economics knowledge is essential for the other disciplines such as:
The knowledge of economics poses enormous benefits for engineering as it allows the people in industry to take strategic decisions for the companies. It provides the foundation for engineers for taking better decisions in the business environment.
Political studies focuses on the power relations and its relationship with achieving the desired ends. Its essential to have economics knowledge to study the political studies. The knowledge of how the resources will be utilised to satisfy the society will be given by economics then only the aim of political studies will be fulfilled.
The business administrations need to have economics knowledge similar to that of managers. While starting companies the entrepreneurs need to understand profits, costs and supply. Its necessary for them to understand the process of business transactions which will be provided by economics.

The economics is itself a very essential study of which the basic knowledge should be held with every person to handle daily activities for their survival. The relation between engineering and the above domains are:
The study of economics helps the development of social conscience in the engineering students by helping them think in the terms of groups. An engineer deals in material things and to achieve the ultimate results which are not of material character from those material things who’s knowledge is provided by study of economics.
For achieving the desired ends for the power relations in political science which is accomplished by economics as it tells how to allocate resources to satisfy those desired ends.
For meeting up to the activities of business entity its essential to have economic knowledge as the business deals in monetary activities and the monetary activities are related to study of economics.