Conference Session

Engineering Economy Division Technical Session 1

Collection

2020 ASEE Virtual Annual Conference Content Access

Authors

Bradley James Schmid, University of Saskatchewan

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

, and S. Vanderby, “ENGINEERING ECONOMICS TASK FORCE - FINAL REPORT,” 2015.[4] V. Clinton and S. Khan, “Efficacy of Open Textbook Adoption on Learning Performance and Course Withdrawal Rates: A Meta-Analysis,” AERA Open, vol. 5, no. 3, pp. 1–20, 2019.

Conference Session

Engineering Economy Division Technical Session 1

Collection

2020 ASEE Virtual Annual Conference Content Access

Authors

Brian Aufderheide, Hampton University; Otsebele E. Nare, Hampton University

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

with the students the more standard sensitivityanalysis: change in price of goods, change in price of key raw material(s), change in price ofutilities, change in price of labor. These are the ones sometimes discussed in design textbooks.Ask students if that is all there is to a Financial Operational Model? See what the students answerhere. Get them to understand the sheer power of having the engineering design melded to theeconomics. What does that truly mean? Start to get them to see other types of sensitivities that arenot simply linear changes in slope but can have actual minimum or maximum optimal values.Examples include key design specifications to the product, parameter uncertainty in the modelsfor a piece of equipment such as extent of