Conference Session

Engineering Economics Teaching Tools

Collection

2015 ASEE Annual Conference & Exposition

Authors

Ted Eschenbach P.E., University of Alaska Anchorage; Neal A Lewis, University of Bridgeport

Tagged Divisions

Engineering Economy

deviation of the project’s PWor IRR.Most investments including retirement plans are made up of ‘portfolios’, a mixture of differentkinds of investments put together in order to balance risk and return. Individuals are increasinglybeing given the responsibility of managing their own retirement portfolios. They need tounderstand the fundamentals of risk and return so that they can effectively manage theirportfolios instead of blindly following the advice of others (who may not have the individual’sbest interest at heart).Many finance courses use a simple two-stock portfolio model to explain the value ofdiversification in achieving better combinations of risk and return. The math would be easy forengineering students, and the lessons learned can be

Conference Session

Curricula Innovations in Engineering Economics

Collection

2015 ASEE Annual Conference & Exposition

Authors

Gloria Margarita Fragoso-Diaz, Tarleton State University; Billy Gray, Tarleton State University; Erick Jones, University of Texas, Arlington

Tagged Divisions

Engineering Economy

in table 2supports the previous statement. With this in mind, the next step would be to evaluate theassignments that the students worked to compare against their survey responses as is planned infuture work.The CaseA simulation for a mass casualty event caused by a tornado hitting the community was plannedand executed by the Nursing department at TSU. The initial goal was for the Nursing departmentto provide a simulated experience in mass casualty treatments for their students. As the Nursingstaff proceeded to plan for the event they came to the point where they asked for help from otherareas to support their activities. Faculty and students from the Engineering Technologydepartment participated in the simulation that was run in real time

Conference Session

Engineering Economics New Frontiers

Collection

2015 ASEE Annual Conference & Exposition

Authors

Paul C. Lynch, Pennsylvania State University, University Park; Cynthia Bober, Penn State University; Joseph Wilck, East Carolina University

Tagged Divisions

Engineering Economy

andfinancial statements if they choose to complete a minor in business/ liberal arts. Students wouldhave limited exposure to these topics if they completed an engineering entrepreneurship minor.All of the industrial engineering students at Penn State must complete either macroeconomics ormicroeconomics as part of their general education course work in their freshman or sophomoreyear. Page 26.191.2Simply adding additional lecture material in the engineering economy course to cover the linkbetween engineering economic decisions and business planning, financial statements, financialaccounting, and stock value was only one part of addressing the needs of

Conference Session

Engineering Economics New Frontiers

Collection

2015 ASEE Annual Conference & Exposition

Authors

Oscar M. Bonilla, Baruch College of the City University of New York; Donald N. Merino P.E., Stevens Institute of Technology (SES)

Tagged Divisions

Engineering Economy

from Los Andes University in Colombia, and a master’s degree and Ph.D in Engineering Management from Stevens Institute of Technology in Hoboken, NJ.Dr. Donald N. Merino P.E., Stevens Institute of Technology (School of Engineering and Science) Donald N. Merino, Ph.D., P.E. Alexander Crombie Humphreys Professor of Economics of Engineering Emeritus Donald N. Merino retired as a tenured full professor and as the Alexander Crombie Humphreys Chaired Professor of Economics of Engineering at Stevens Institute of Technology. He taught Engi- neering Economy, Financial Management, Decision Analysis, Total Quality Management, and Strategic Planning. He is Founder Emeritus of the undergraduate Bachelor of Engineering in Engineering

Conference Session

Curricula Innovations in Engineering Economics

Collection

2015 ASEE Annual Conference & Exposition

Authors

Paul J. Kauffmann P.E., East Carolina University; Joseph Wilck, East Carolina University; Paul C. Lynch, Pennsylvania State University, University Park

Tagged Divisions

Engineering Economy

. Although the three participatingcourse sections shown in Table 2 represent a range of potential differentiators, we did not designour study to analyze these factors in this first step. As we continue our work and grow the dataset in the future, we plan to define ways to better study the differentiators noted in Table 2.Consequently our results are reported based on the instructor (or section) noted in the firstcolumn of Table 2. Page 26.378.4Table 2: Participating Course Characteristics Instructor Class Credits Homework Class quizzes Lecture style Final exam size requirement 1

Conference Session

Engineering Economics New Frontiers

Collection

2015 ASEE Annual Conference & Exposition

Authors

Zia A. Yamayee, University of Portland; Mojtaba B. Takallou P.E., University of Portland; Robert J. Albright P.E., University of Portland

Tagged Divisions

Engineering Economy

Paper ID #11243Engineering Economics as a Benchmark Course in the Context of a Sustain-able Continuous Improvement ProcessDr. Zia A. Yamayee, University of Portland Dr. Yamayee’s current professional interests include outcomes assessment in engineering education; de- sign in engineering education; engineering design methodologies; and application of design methods to electric power distribution, transmission, and generation. Dr. Yamayee’s work to date has included projects in power system planning, maintenance scheduling, hydro-thermal simulations, unit commit- ment, operational and financial impacts of integrating new

Conference Session

Curricula Innovations in Engineering Economics

Collection

2015 ASEE Annual Conference & Exposition

Authors

Weihang Zhu, Lamar University; Alberto Marquez P.E., Lamar University; Julia Yoo

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

Economics Career” app has been made available freely through Apple Appstore and Google Play. We will continue to pursue formative assessment and improvement during Page 26.541.12the NSF grant period. In the future, we plan to continue to use this method to help othereducators to develop apps for their subjects. We foresee a proliferation of educational apps forstudents in the near future.Reference 1. Sandberg, J., Barnard, Y.: Deep learning is difficult. Instructional Science 25, 15-36 2. Dahm, K., Newell, J.: Baseball Stadium Design: Teaching Engineering Economics and Technical communication in a Multi-Disciplinary. Journal of SMET

Conference Session

Engineering Economics Teaching Tools

Collection

2015 ASEE Annual Conference & Exposition

Authors

Jerome P. Lavelle, North Carolina State University; Matthew T. Stimpson, North Carolina State University; E. Downey Brill, North Carolina State University

Tagged Divisions

Engineering Economy

some elements (videos and materials) and less for others (time required,overall structure). These effects were considered, along with the instructors’ overallperceptions of this first iteration of flipping, in planning for spring 2013.Spring Semester 2013Structure: Several key changes to the structure of the course were implemented in spring 2013.Class attendance was made optional in this semester, and “optional work sessions” with theinstructors/teaching assistant were substituted and made available to students. This change wasimplemented in response to student feedback on the time required in the course. The changewas also made in an effort to encourage students toward self-empowered learning, andstrengthening their skills related to ABET

Conference Session

Curricula Innovations in Engineering Economics

Collection

2015 ASEE Annual Conference & Exposition

Authors

Letitia M. Pohl, University of Arkansas; Shelly Walters, University of Arkansas

Tagged Divisions

Engineering Economy

,people learn more deeply when they integrate text and pictures, thereby building both verbal andpictorial representations of the same material.2 The slides from the lecture-style videos includedin our example course are admittedly very text-heavy. Melissa Marshall convincinglydemonstrates the assertion-evidence approach to presentation development,4 and therefore theauthors plan to move towards this approach during the next revision of the instructional videos.Provide Focused ContentInstruction should not be technology-centered, but rather learner-centered. It is not the mediumin which the content is delivered (video versus live presentation, or slide presentation versustalking head), but the pedagogy and the instructional method that results in