Conference Session

Advances in Engineering Economy Pedagogy

Collection

2010 Annual Conference & Exposition

Authors

Paul Kauffmann, East Carolina University; Stephanie Sullivan, East Carolina University; Gene Dixon, East Carolina University; B.J. Kim, East Carolina University

Tagged Divisions

Engineering Economy

concepts contained in each are not linked to clearly illustratehow these courses together represent an essential, integrated, and complementary body ofknowledge. This presents a lost opportunity in reinforcing concepts in areas such as projectvaluation, variation in estimates, statistical risk, expected value and similar real world topicswhich are essential in a project engineering workplace. This paper presents a curricular plan toaccomplish integration of key topics in these courses in a focused and effective manner. Itbegins with examining general concepts in engineering curriculum integration. Next it examineskey curricular topics in engineering economics, statistics, and project management courses andmaps specific areas which can be

Conference Session

Advances in Engineering Economy Pedagogy

Collection

2010 Annual Conference & Exposition

Authors

Emily Evans, University of Arkansas; Heather Nachtmann, University of Arkansas; Kim Needy, University of Arkansas

Tagged Divisions

Engineering Economy

states that the curriculum being taught now is almost identical to thattaught many decades ago. In general, it is believed that engineering economy instruction putsmore emphasis on routine and trivial calculations and less emphasis on the analysis and decisionmaking processes2,3.According to the literature, while the teaching materials of engineering economy has changedvery little over the years, the actual implementation of the topic in the work force has changeddramatically. Smith9 comments on how risk and risk management is vital to the engineeringenvironment, and yet the curriculum in undergraduate classes only skims the surface of thesetopics. Most textbooks acknowledge the presence and an overview of methods for measuringrisk, but many do

Conference Session

Frontiers in Engineering Economy

Collection

2010 Annual Conference & Exposition

Authors

Neal Lewis, University of Bridgeport; Ted Eschenbach, TGE Consulting; Joseph Hartman, University of Florida

Tagged Divisions

Engineering Economy

process by laying out the alternatives in a clear manner. These topics should be taught inthe undergraduate course. Risk management is a necessary part of project funding, and this isappropriate for the undergraduate curriculum. Inclusion as an application of decision trees is alogical and worthwhile application, and we are pleased to see that most authors include thematerial in their texts.Use of options analysis should be reserved for graduate courses. Use of options analysis inmulti-stage project analysis is a fairly limited area, and is still not fully understood (althoughthere is available literature that may allow you to calculate a project value). Where this is taught,the current methods need to be accompanied by the concerns and

Conference Session

Including Engineering Economy in All Curricula

Collection

2010 Annual Conference & Exposition

Authors

Leland Blank, Texas A&M University

Tagged Divisions

Engineering Economy

technology be used to infuse engineering economics into curricula and courses? ≠ How can engineering economy topics be integrated into existing courses in any BS-level engineering curriculum? ≠ When is a separate course in engineering economy justified?The panel is comprised of individuals with varied backgrounds and different engineeringdisciplines, who come to the discussion with significantly different views of the need andformat of engineering economics in engineering curricula. The panel members include:Dr. Dave Holger ABET, President 2009-2010 Iowa State University: Associate Provost for Academic Affairs Dean, Graduate College