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Session # 2439

Incor por ation of Infor mation Systems Economics into Engineer ing Economic Analysis Cour ses

H. Olufemi Omitaomu, Adedeji B. Badir u

Depar tment of Industr ial & infor mation Engineer ing Univer sity of Tennessee, Knoxville, TN 37996-0700

Abstr act

In this paper, we propose the inclusion of economics of information systems into Engineering Economic Analysis curriculum. Information system projects are unique projects with several distinguished characteristics. They are also subject to several conditions of risk. Several graduates would be expected to analyze information system related projects from engineering point of view. Engineering economic analysis techniques play major roles in the evaluation of privately and publicly funded projects. The present understanding of engineering graduates is that these techniques are sufficient and applicable to all privately funded projects. However, there are pieces of evidence that these techniques are not sufficient for evaluating information system projects. Most of these projects have unique characteristics that are not found in other privately or publicly financed and operated businesses. Hence, there is a need to teach economics of information systems within engineering economic analysis curriculum to educate students about information system projects' unique characteristics and cautions to take when using available techniques. Such inclusion will help to place engineering students in a more competitive position for their future career goals.

Intr oduction

There has been a continued integration of information systems into all fields of engineering, especially industrial engineering. Several academic departments have changed their names to reflect this integration and others have started courses that integrate information systems into their traditional areas of teaching and research. Information systems (IS) are powerful and valuable tools that support communication and decision making in an organization1. They use information technology (hardware and software) to capture, transmit, store, retrieve, manipulate, or display information. The era of information systems has changed completely; IS have become essential tools for businesses to operate and survive. Information systems are very critical for online and offline businesses and their applications are visible in several companies. They can be classified into office automation system, communication system, transaction processing system, management (executive) information system, decision support system, and execution

Proceedings of the 2004 American Society for Engineering Education Annual Conference & Exposition Copyright © 2004, American Society for Engineering Education

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Omitaomu, O., & Badiru, A. (2004, June), Incorporation Of Information Systems Economics Into Engineering Economic Analysis Courses Paper presented at 2004 Annual Conference, Salt Lake City, Utah. 10.18260/1-2--14064