Conference Session

Advances in Engineering Economy Pedagogy

Collection

2009 Annual Conference & Exposition

Authors

Abhijit Gosavi, Missouri University of Science and Technology

Tagged Divisions

Engineering Economy

-knownoperations-research principles? The answer to that question has to be in thenegative because much of what is taught in operations research in IE focuseson reduction of costs. Revenue management for the most part looks at therevenue side of the equation, and uses techniques that are significantlydifferent than those taught in any of the typical IE courses, such asproduction planning, facilities designing, and quality control. There are, inmy opinion, other good reasons to teach this course. First, a vast majorityof personnel who work for airline and cruise-line firms in their revenue-management departments are trained in IE departments and have IE degrees.Second, revenue management is not just another buzz word. For instance

Conference Session

Frontiers in Engineering Economy

Collection

2009 Annual Conference & Exposition

Authors

Philip Brach, University of the District of Columbia; Ahmet Zeytinci, University of the District of Columbia; Pradeep Behera, University of the District of Columbia

Tagged Divisions

Engineering Economy

unable to handle the home mortgagebusiness, so a sound government plan is a viable alternative. Of course adequate oversight andcontrols will be necessary.For years engineers have been criticized for failing to consider or be cognizant of social andhumanistic values. A case study like the one proposed would assist in changing this image of theengineer and create awareness in engineering students of the importance and significance ofsocial issues as well as traditional technical aspects when considering the engineering economyof their projects. In terms of priorities in life, cost of shelter is almost always the most expensive,transportation, food and clothing follow. These entire human needs imply a demand forengineering; if homes are made

Conference Session

Advances in Engineering Economy Pedagogy

Collection

2009 Annual Conference & Exposition

Authors

John Ristroph, University of Louisiana, Lafayette

Tagged Divisions

Engineering Economy

flows can be evaluated using equation (12) directly, and uniform series can be evalu-ated by using the formula for a geometric series with r equal to (1+i)-1. Equivalent annual worth expresses present worth as annual flows at times 1, 2, …, n (theend of the planning horizon) that produce the same compound amount as present worth, so n PW (1 + i ) n = ∑ EAW (1 + i) n −t . (13) t =1Applying the formula for a geometric series with r equal to 1+i results in the well establishedrelationship between PW and EAW