Engineering:

engineering, the application of science to the optimum conversion of the resources of nature to the
uses of humankind. The field has been defined by the Engineers Council for Professional
Development, in the United States, as the creative application of scientific principles to design or
develop structures, machines, apparatus, or manufacturing processes, or works utilizing them singly
or in combination; or to construct or operate the same with full cognizance of their design; or to
forecast their behaviour under specific operating conditions; all as respects an intended
function,economics of operation and safety to life and property. The term engineering is sometimes
more loosely defined, especially in Great Britain, as the manufacture or assembly of
engines, machinetools, and machine parts.
(http://www.britannica.com/EBchecked/topic/187549/engineering)
the discipline dealing with the art or science of applying scientific knowledge to practical problems; "he
had trouble deciding which branch of engineering to study"

http://www.hyperdictionary.com/dictionary/engineering
Engineering (from Latin ingenium, meaning "cleverness" and ingeniare, meaning "to contrive,
devise") is the application of scientific, economic, social, and practical knowledge in order to design,
build, maintain, and improve structures, machines, devices, systems, materials and processes. The
discipline of engineering is extremely broad, and encompasses a range of more specialized fields of
engineering, each with a more specific emphasis on particular areas of technology and types of
application.
(http://en.wikipedia.org/wiki/Engineering)

Economy/Economics:
An economy or economic system consists of the production, distribution or trade,
and consumption of limited goods and services by different agents in a given geographical location.
The economic agents can be individuals, businesses, organizations, or governments. Transactions
occur when two parties agree to the value or price of the transacted good or service, commonly
expressed in a certaincurrency.
(http://en.wikipedia.org/wiki/Economy)

The large set of inter-related economic production and consumption activities

which aid in determining how scarce resources are allocated.
http://www.investopedia.com/terms/e/economy.asp
nomics is the study of the production and consumption of goods and the transfer of wealth to
produce and obtain those goods. Economics explains how people interact within markets to get what
they want or accomplish certain goals. Since economics is a driving force of human interaction,
studying it often reveals why people and governments behave in particular ways.

(http://www.whatiseconomics.org/)