Conference Session

Engineering Economy Division Technical Session 1

Collection

2018 ASEE Annual Conference & Exposition

Authors

Aimee T. Ulstad, Ohio State University; Mehdi Mashayekhi, Ohio State University; Hannah Meckstroth, Ohio State University

Tagged Divisions

Engineering Economy

increasingly transferred the responsibility to save and invest to individuals.”As of 2014, only 2% of American employers had a defined benefit (pension) plan, down from28% in 1979. Today, employees are expected to save for themselves; in the same study, 34% ofemployers offer only a defined contribution (401K/403B) plan, which is up significantly from7% with plans in 1979 [8]. With these underlying social changes, students graduating fromengineering programs today will need to be more financially savvy and recognize their need tosave for their own retirement, but are they prepared to do this?Fortunately, large volumes of baseline data on different populations and their financial literacyskills exist. Through her research at George Washington

Conference Session

Engineering Economy Division Technical Session 1

Collection

2018 ASEE Annual Conference & Exposition

Authors

James Burns, Purdue University, West Lafayette; Bob E. White P.E., Western Michigan University; Azim Houshyar, Western Michigan University

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

. From 1995 to 1997, Dr. Houshyar spent all of his spring and summer terms at Argonne National Labo- ratory (ANL) assisting them with the scheduling of the EBR-II nuclear reactor shutdown. Dr. Houshyar developed several mathematical and simulation models that helped plan for the reactor shutdown accord- ingly. Dr. Houshyar has served as the Editor-in-Chief of the International Journal of Modelling and Simula- tion for over 20 years, and is very active in publication of scholarly articles. He has over 30 journal publications and 100 articles in conference proceedings. Some of Dr. Houshyar’s journal publications are in Computer and Industrial Engineering, Computers in Industry, The International Journal of Mod

Conference Session

Engineering Economy Division Technical Session 1

Collection

2018 ASEE Annual Conference & Exposition

Authors

Erick Jones, University of Texas, Arlington; Billy Gray, Tarleton State University

Tagged Divisions

Engineering Economy

more in tune with a student’s costs needs. There are institutions that do paygreater attention to the student’s financial needs and take that into consideration when theyaccept the student. These institutions have more planning, support, and aid available for theirstudents [9].One of the responses to the lack of state funding is to increase tuition. For universities, this is oneof the methods in which the gap between costs and funding are covered. However, one of theconcerns with this is that when the economy is performing poorly, universities typically receivelower funding. The increase in tuition is generally concurrent with an increase in unemployment.Many of these unemployed employees enroll into higher education institutions [3]. The