Conference Session

Innovation in Teaching Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

J. Cunha, University of Alberta

Tagged Divisions

Engineering Economy

governmentregulations make any long-term project extremely risky.Based on the abovementioned factors, a graduate course was designed and implemented aimingto prepare the students to deal with the main economic issues and challenges faced by the oilindustry. Besides the basics on engineering economics, the course covers advanced materialrelated to budgeting, economic decision tools, scheduling and corporate planning, Monte Carlosimulation and risk analysis for oil industry projects. Economic analysis of operations,production forecasts and its associated costs and expected profits are also studied.Furthermore, besides the theoretical topics covered, the students are also required to develop aproject where actual challenges from the oil industry are analyzed

Conference Session

New Topics in Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

Leslie Pagliari, East Carolina University; Gene Dixon, East Carolina University; Paul Kauffmann, East Carolina University; Merwan Mehta, East Carolina University

Tagged Divisions

Engineering Economy

the highest and most consistently selected areas. As far asdistance education approaches, students prefer use of streamed lectures coupled with some formof instructor interaction to answer questions. In addition, students prefer testing approaches thatallow more diverse expression as contrasted to multiple choice tests.The authors plan to continue these surveys and analytical studies for several more years andsolicit increased involvement from MEM and MS TS programs throughout the country.Additionally, the authors will collect longitudinal data to see how and if recommendationschange after a number of years pass. We hope that this study may also be a model for increasedcollaboration in other subject matter areas that are critical to MEM and

Conference Session

Innovation in Teaching Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

Ahmad Sarfaraz, California State University-Northridge; Tarek Shraibati, California State University-Northridge

Tagged Divisions

Engineering Economy

strategy to engage studentsin this particular case. We believe this to be true because weekly quizzes force students to studyon a regular basis and to keep abreast of material in the course as it is being presented. Theauthors plan to study the effects of weekly journals and extra help sessions on student success inthe upcoming semesters while continuing with weekly quizzes to determine if success rate can befurther improved.References Page 11.750.61. Omar Zahir, Redesigning a Challenging Gateway Course, The Center for Excellence in Learning and Teaching Letter, California State University, Northridge, Volume 3, Number 1, 20012. Report

Conference Session

Innovation in Teaching Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

Karen Bursic, University of Pittsburgh

Tagged Divisions

Engineering Economy

mid-semester report to ensure that they had begunresearching and planning their approach to the analysis. Final project reports were due the lastweek of class. Students were given a general outline to be used in writing their reports (seeFigure 1). The projects were graded using a pre-defined grading rubric based on this outline andusing a total of 100 points.Once the projects had been submitted, students were asked to complete a short survey to evaluatethe effectiveness of the project as a learning tool. The survey was aimed at determining whetherstudents felt that the project increased their understanding and awareness of global, societal, andcontemporary problems and the application of the course material. The report should include the

Conference Session

Innovation in Teaching Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

Joseph Hartman, Lehigh University

Tagged Divisions

Engineering Economy

to the terminal in the Bahamas, plans were to build a 90-mile pipeline to move product to a location north of Miami. In the first trial, students were presented with one article that had considerable data. In the second trial, additional information such as historical natural gas prices and demand was provided. Key Elements: In a provided article, the president of Enron stated that a price of $3 per thousand cubic feet of natural gas makes this look like “a very attractive business,” thereby defining a very critical parameter. The environmental sensitivity of the area and “hot topic” of LNG investments were also interesting additions to the problem.2. Concorde Retirement: One week before the final exam, British Airways and Air

Conference Session

New Topics in Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

John Ristroph, University of Louisiana-Lafayette

Tagged Divisions

Engineering Economy

2006-755: AN ALTERNATIVE PARADIGM FOR ENGINEERING HOMEWORK:THE CASE OF ENGINEERING ECONOMICSJohn Ristroph, University of Louisiana-Lafayette JOHN H. RISTROPH is jointly appointed as a professor of Engineering and Technology Management and as a professor of Economics and Finance at the University of Louisiana at Lafayette. His doctorate is in industrial engineering and operations research, and his non-academic experience includes service to the Louisiana Department of Natural Resources first as Head of Economics and Statistics and then as Director of Policy and Planning. Page 11.171.1© American