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Design, systems approaches, and the engineering-economics nexus

Author

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  • César García-Díaz

    (Pontificia Universidad Javeriana)

Abstract

Economics and engineering are discovering new opportunities for cross-fertilization. This is partly given to the advent of modern artificial intelligence methods. These opportunities have appeared in the past, resulting in marginal improvements toward integration. As explained by Mariotti (Journal of Industrial and Business Economics, 2021), over the years there has been an intertwining of the two disciplines along the progression of economics for/and/as engineering. Mariotti (2021) also points out that a real transdisciplinary integration (i.e., à la Prigogine) implies a mutual nurturing, where one discipline´s conceptual apparatus is incorporated into the other. A fine-grained view of the epistemological differences of the two disciplines reveals that an integration might be more likely along some, but not all directions. I explain these differences based on different connotations of the concept of design. Particularly, when referring to design aspects of social systems, I also argue that systems approaches may serve as a bridge to integrate economics and engineering. Finally, I offer alternatives to explore how this integration might be undertaken.

Suggested Citation

  • César García-Díaz, 2021. "Design, systems approaches, and the engineering-economics nexus," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 48(4), pages 601-607, December.
    • Handle: RePEc:spr:epolin:v:48:y:2021:i:4:d:10.1007_s40812-021-00199-6
    DOI: 10.1007/s40812-021-00199-6
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    References listed on IDEAS

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    More about this item

    Keywords

    Design; Systems; Complexity; Economics; Engineering;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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