Note that for the remainder of this post, I refer to recent college graduates in engineering as simply 'engineers' and I know that all engineers are not the same, but I am talking about the majority of these 'engineers'.
First, selling is pervasive in all aspects of life. These engineers will soon be applying for jobs after graduation. Their sheer intellect is usually not enough alone to convince the interviewer for the job due to the fact that engineers have trouble articulating their thoughts. The engineer must sell him or her self to the employer. Furthermore, any time the engineer has a grand idea, he or she must also persuade others to believe in their idea. This persuasion is directly related to one's selling ability.
Second, an engineer can create the best product, but if they can not convince others to buy it, the product quality becomes irrelevant. In today's society, people buy things not because they need it, but because they want it, which is inherently different. Engineers are taught to create products with incredible sophistication and a plethora of features. However, this is not exactly correct. Engineers must create products that consumers want in their daily lives. The only way engineers can figure out what people actually want to spend their money on requires selling, communication, and feedback from the customer. All of which is not taught in engineering curriculum.
Lastly, engineers must utilize communication and social interaction throughout their job, personal life, and relationships. Engineers become great problem solvers, but they lack the necessary communication skills to ask the right questions. No matter how affluent an engineer is, they becomes irrelevant when they spend their time answering a question that customers do not care about. The only way that an engineer can uncover the correct question to answer is through means of communication and social interaction with their customer. Engineering schools do not train their students to seek the right answer, but rather utilize as many convoluted formulas as possible on their tests.
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