Conference Session

Engineering Economy Division Technical Session 1

Collection

2016 ASEE Annual Conference & Exposition

Authors

Paul C. Lynch, Penn State University Erie, The Behrend College; Joseph Wilck, United States Air Force Academy; Omar Ashour, Pennsylvania State University Erie, The Behrend College

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

, Engineering, and EntrepreneurshipAbstractCreative minds often times have innovative ideas for designing products and services that maylead to successful businesses but these potential entrepreneurs often need an outside perspectivefrom practitioners trained in business and engineering that can analyze potential ideas, performengineering economic analyses, and help construct business plans to help entrepreneurs proceedin a fiscally responsible and systematic manner. Engineering economy is at the center of eachand every business decision made in today’s fast paced business world. Whether it be a rate ofreturn analysis, payback analysis, net present worth analysis or a host of other engineeringeconomic analyses, the ultimate

Conference Session

Engineering Economy Division Technical Session 3

Collection

2016 ASEE Annual Conference & Exposition

Authors

Paulina Z. Sidwell, McLennan Community College

Tagged Topics

ASEE Diversity Committee, Diversity

Tagged Divisions

Engineering Economy

her M.S. in Industrial Engineering from NMSU while conducting research over scheduling and policy optimization in health- care. At McLennan Community College, she serves in various committees, including the Mars 101 Com- mittee and the Strategic Planning Committee. She has participated in various study-travel experiences as sponsor/faculty, such as Mars 101, Geology Field Course, and the Australia/New Zealand Overseas Experience. She also serves as an advisor for the Engineering & Physics Club. c American Society for Engineering Education, 2016 Engineering Economics International Experience for Community College StudentsAbstractMcLennan Community

Conference Session

Engineering Economy Division Technical Session 2

Collection

2016 ASEE Annual Conference & Exposition

Authors

Paul C. Lynch, Penn State University Erie, The Behrend College; James F. Kimpel, University of Pittsburgh; Karen M. Bursic, University of Pittsburgh

Tagged Divisions

Engineering Economy

takethis one step further to be able to understand and explain how their decision will impact companyfinancial statements (i.e., the bottom line of the company). At Penn State, industrial engineeringstudents are only exposed to a semester of financial accounting and financial statements if theychoose to complete a minor in business/liberal arts.An overhaul of the engineering economy course in the industrial engineering program wascompleted. However, simply adding additional lecture material in the engineering economycourse to cover the link between engineering economic decisions and business planning,financial statements, financial accounting, and stock value was only one part of addressing theneeds of the companies hiring industrial engineering

Conference Session

Using a Real-Options Analysis Tutorial in Teaching Undergraduate Students

Collection

2016 ASEE Annual Conference & Exposition

Authors

John A. White Jr., University of Arkansas

Tagged Divisions

Engineering Economy

elective for industrial engineering majors andis occasionally taken by graduate students. The prerequisite for AdvEngEcon is EngEcon. As such,several students are juniors, but the majority are seniors.As taught for many years, AdvEngEcon typically began with a review of material covered inEngEcon: annual worth, future worth, present worth, and rate of return methods of comparingmutually exclusive investment alternatives, after-tax comparison of investment alternatives underinflationary conditions; and replacement analysis. Additional material in AdvEngEcon included: costestimation; capital planning and budgeting; break-even, sensitivity, and risk analysis; decisionanalysis; analytic hierarchy process; and real options. The textbook adopted for the

Conference Session

Engineering Economy Division Technical Session 2

Collection

2016 ASEE Annual Conference & Exposition

Authors

Jerome P. Lavelle, North Carolina State University

Tagged Divisions

Engineering Economy

o timing, involvement matrix  Describe attainment  Describe CI and results Criterion 5: Curriculum  Table 5-1 data  Curriculum/PEO alignment  Course syllabi information Criterion 6: Faculty  Rank, qualifications, workload, responsibilities  Size, ratios, professional development Criterion 7: Facilities  Quantify types, computing, other support  Maintenance and safety plans Criterion 8: Institutional

Conference Session

Engineering Economy Division Technical Session 1

Collection

2016 ASEE Annual Conference & Exposition

Authors

K. Jo Min, Iowa State University; John Jackman, Iowa State University; Michelle Zugg, Iowa State University

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

instructional methods had a positive impact on student learning.At the time of this writing, we are continuing our efforts for effective and efficient teaching andlearning of how critical life-cycle decisions are made for projects under uncertainties. Forexample, we are teaching an experimental course aimed at undergraduate senior and graduatelevel engineering majors titled, Advanced Engineering Economy for Complex EngineeringProjects. Concurrently, we are in the process of converting journal publication contents intoteaching materials11, 12, 13 with their corresponding visual aids.14As we deepen our understanding of the teaching and learning effectiveness of this importanttopic, we plan to increase our dissemination efforts as well, and we hope to

Conference Session

Engineering Economy Division Technical Session 3

Collection

2016 ASEE Annual Conference & Exposition

Authors

Corey Kiassat, PhD, MBA, PE P.E., Quinnipiac University; Xiaoyue Jiang, Quinnipiac University

Tagged Topics

ASEE Diversity Committee

Tagged Divisions

Engineering Economy

in Engineering, 13(4), 38–41. doi: 10.1061/(ASCE)0742-597X(1997)13:4(38) 9. Hall, D.T., and Seibert, K.W. (1992). Strategic management development: Linking organizational strategy succession planning, and managerial learning. In Montross, D.H. (Ed) and Shinkman, C.J. (Ed) (1992). Career development: Theory and practice. Springfield, IL, England: Charles C Thomas, Publisher. 10. ABET. (2016). Criteria for accrediting engineering programs: Effective for review during the 2016–2017 accreditation cycle. Retrieved from http://www.abet.org/accreditation/accreditation-criteria/criteria-for- accrediting-engineering-programs-2016-2017/ 11. Michaelsen, L.K., Davidson, N., and Major, C.H. (2014). Team-based learning

Conference Session

Engineering Economy Division Technical Session 3

Collection

2016 ASEE Annual Conference & Exposition

Authors

Deborah Ann Pedraza, Texas Tech University; Mario G. Beruvides P.E., Texas Tech University

Tagged Topics

ASEE Diversity Committee

Tagged Divisions

Engineering Economy

and demographicvariables were also independent predictors of a student’s approach to learning. And thus, theirresearch indicates that course experience causes a student’s approach to learning. The authorsalso found that as far as subgroups of students, there were differences between students who didnot intend to continue psychology studies as compared to the rest of the students. Those whointended to continue their studies in psychology had more favorable course experiences andapproaches to learning and higher efforts and performed better on the exam as opposed to thosewho do not plan to continue their studies in psychology. Even though their mean high schoolgrade point average was similar to those who did not intend to continue their studies