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

and serves as department chair. His research interests are in economic decision analysis and dynamic programming. He is an active member of ASEE, IIE, and INFORMS and currently serves as editor of The Engineering Economist. Page 15.607.1© American Society for Engineering Education, 2010 Funding Decisions for Multi-Stage ProjectsAbstractLarge industrial projects are generally organized and funded in stages, with each stage fundedand executed sequentially. This is widely practiced with new product and new technologydevelopment projects, venture capital projects, and natural resource development

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

AC 2010-1477: INTEGRATION OF ENGINEERING ECONOMICS, STATISTICS,AND PROJECT MANAGEMENT: REINFORCING KEY CONCEPTSPaul Kauffmann, East Carolina University Paul J. Kauffmann is Professor and Chair in the Department of Engineering at East Carolina University. His industry career included positions as Plant Manager and Engineering Director. Dr. Kauffmann received a BS degree in Electrical Engineering and MENG in Mechanical Engineering from Virginia Tech. He received his Ph.D. in Industrial Engineering from Penn State and is a registered Professional Engineer in Virginia and North Carolina.Stephanie Sullivan, East Carolina University Stephanie Sullivan is a visiting instructor in the Department of

Conference Session

Frontiers in Engineering Economy

Collection

2010 Annual Conference & Exposition

Authors

Joseph Hartman, University of Florida; Jennifer Smith, University of Florida

Tagged Divisions

Engineering Economy

Developing an Online Undergraduate Engineering Economy CourseAbstractGiven shrinking university budgets, increased enrollments and limited teaching space, a push hasbeen made to develop online courses at the undergraduate level which will allow for large classsections and increase access, both on-campus and remotely. The development of online coursesin engineering at the undergraduate level is new at the University of Florida. We discuss theprocess of developing an online course in engineering economy. We specifically address how toallow for students to interact in groups in an online environment through projects. We alsodiscuss the ability to modularize delivery in order to appeal to different majors in the course,which

Conference Session

Frontiers in Engineering Economy

Collection

2010 Annual Conference & Exposition

Authors

Ted Eschenbach, TGE Consulting

Tagged Divisions

Engineering Economy

learning from each other. This paper is written from the perspective of an engineeringeconomist with over 30 years of teaching and textbook writing experience, who has recently hadhis world-view shifted by multiple forays into finance classrooms.IntroductionThe time value of money is the foundation of two fields—engineering economy and finance. Yethow those two fields are presented in their introductory course have a surprisingly smallintersection. The basic reason is that engineering economy focuses at the project level, whileintroductory corporate finance focuses at the firm level. But both courses include the firm andproject levels and both include applications of the time value of money to the personal lives ofstudents. This creates the

Conference Session

Advances in Engineering Economy Pedagogy

Collection

2010 Annual Conference & Exposition

Authors

Christopher Jablonowski, University of Texas, Austin

Tagged Divisions

Engineering Economy

AC 2010-3: INCORPORATING UNCERTAINTY INTO LEARNING CURVES: ACASE STUDY IN OIL DRILLING ESTIMATESChristopher Jablonowski, University of Texas, Austin Christopher Jablonowski is Assistant Professor of Petroleum and Geosystems Engineering at the University of Texas at Austin where he performs research on decision-making under uncertainty, industrial organization, and safety management systems. Prior to joining the University of Texas at Austin, he worked as an upstream project analyst with IPA, Inc., an economist with the US Government, and as a drilling engineer with Shell Offshore Inc. He holds a B.S. in Civil Engineering from Virginia Tech, a M.B.A. from Tulane University, and a Ph.D. in

Conference Session

Including Engineering Economy in All Curricula

Collection

2010 Annual Conference & Exposition

Authors

Leland Blank, Texas A&M University

Tagged Divisions

Engineering Economy

, ethical, and environmental aspectsthat may impact engineering projects.On one hand, these pressures to do more for less in less time means that formal treatmentof engineering economics in a separate course is often considered for removal from anengineering curriculum that currently includes it. On the other hand, the topic of aseparate course in engineering economics is not seriously considered for inclusion ascurricula are revised.Only a few engineering discipline curricula include formal training in project costing andeconomic analysis; usually, industrial, manufacturing, civil, petroleum, and engineeringmanagement. Commonly, other curricula, such as, mechanical, chemical, nuclear, andelectrical usually include some of the concepts and

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

more than 30 students, ≠ Respondents provide a positive assessment of the state-of engineering economics as a body of knowledge, ≠ On average, industrial engineering (IE) faculty teach more engineering economy sessions per year than non-IE faculty, ≠ In calculating final grades, exams are weighted most heavily (non-IE faculty weight homework, projects and case studies more heavily), ≠ Non-IE faculty use groups and projects almost twice as much as IE faculty, and Page 15.50.2 ≠ The vast majority of faculty is incorporating “new” teaching methods into their engineering economy classes.We are motivated to