FE Ethics and Economics Session 2022

TL;DR

This session covers topics two and three of the FE Civil exam, focusing on ethics and engineering economics.

Transcript

all right well i think we are live and thanks for joining in for another session here of fe civil review 2022 and tonight we actually have a kind of like a double header so we get to talk about uh topics two and three on the exam so the first is uh ethics and professional practice and the second here will be engineering economics so it's kind of co... Read More

Key Insights

• 🥹 Holding the health, safety, and welfare of the public paramount is the number one importance in engineering ethics.
• 🤩 Compliance with state-specific laws and codes of ethics is a key aspect of professional practice.
• 💦 Licensure laws and ethics codes work together to uphold engineering standards and ensure ethical conduct.
• 🤘 Engineers are expected to review drawings in detail before signing and sealing them.
• 💝 Accepting gifts of significant value is considered unethical in engineering.
• ❓ Engineers have an ethical obligation to report any knowledge of fraudulent or dishonest practices.
• 🤑 Time value of money is a fundamental concept in engineering economics.
• 🤑 Engineers must consider inflation and investment rates when calculating the future value of money.

Questions & Answers

Q: What is the number one importance for engineers when it comes to ethics?

The number one importance for engineers is to hold paramount the health, safety, and welfare of the public.

Q: How are licensure laws and ethics codes related?

Licensure laws vary by state, but ethics codes, such as the NSPE Model Code of Ethics, provide a standard for professional practice across the industry.

Q: Can a professional engineer sign and seal drawings prepared by unlicensed designers?

Only if the engineer is in responsible charge and has reviewed the work in detail.

Q: Can engineers accept gifts valued over $100?

No, according to ethics codes, engineers should not accept gifts or valuable considerations that exceed $100.

Key Insights:

• Holding the health, safety, and welfare of the public paramount is the number one importance in engineering ethics.
• Compliance with state-specific laws and codes of ethics is a key aspect of professional practice.
• Licensure laws and ethics codes work together to uphold engineering standards and ensure ethical conduct.
• Engineers are expected to review drawings in detail before signing and sealing them.
• Accepting gifts of significant value is considered unethical in engineering.
• Engineers have an ethical obligation to report any knowledge of fraudulent or dishonest practices.
• Time value of money is a fundamental concept in engineering economics.
• Engineers must consider inflation and investment rates when calculating the future value of money.
• Ethical decision-making is crucial in maintaining professional integrity and protecting the public's interests.

Summary & Key Takeaways

• The session starts with a discussion on ethics in engineering and the importance of holding the health, safety, and welfare of the public paramount.

• Professional practice is also discussed, emphasizing the need to comply with state-specific laws and codes of ethics.

• The session then transitions to engineering economics, covering concepts such as time value of money, cost analysis, and uncertainty.