Conference Session

Effective Tools for Teaching Engineering Economy

Collection

2007 Annual Conference & Exposition

Authors

Sarah Ryan, Iowa State University; John Jackman, Iowa State University; Rahul Marathe, Iowa State University; Pavlo Antonenko, Iowa State University; Piyamart Kumsaikaew, Iowa State University; Dale Niederhauser, Iowa State University; Craig Ogilvie, Iowa State University

Tagged Divisions

Engineering Economy

) Page 12.1316.7can be present in some information context and a subject makes a decision (yes or no) aboutwhether the signal is present. This decision is based on the amount of evidence perceived by thesubject. In our context the decision corresponds to whether an information element is relevant orirrelevant to solving a problem. The amount of evidence is considered to be a random variablewith a normal distribution. The probability distribution reflects the inherent noise (either in theinformation or a subject’s internal decision making process). The decision is modeled as twonormal distributions having the same variance. One distribution corresponds to pure noise (nosignal present) and the other distribution is the signal with noise. The model

Conference Session

New Topics in Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

Leslie Pagliari, East Carolina University; Gene Dixon, East Carolina University; Paul Kauffmann, East Carolina University; Merwan Mehta, East Carolina University

Tagged Divisions

Engineering Economy

response indicates that technology management students see this as an onerous requirement. • Multiple choice question tests. Working professionals appear to dislike testing approaches that reflect simple questions and limit the opportunity to award partial credit. Exhibit 4. Response to Instructional Approaches Response to Instructional Approaches Live audio is essential Live video is essential Closed book Computation and essay both in a test Multiple choice is acceptable Proctored test is essential

Conference Session

Innovative IE Curricula

Collection

2013 ASEE Annual Conference & Exposition

Authors

Susan L. Murray, Missouri University of Science & Technology; Terri M. Lynch-Caris, Kettering University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

timely that the FE and PE exam specifications have been revisited to reflect changingpriorities within the profession. For academic departments to stay relevant and assist industrialengineering graduates to become PE licensed, modern curriculum should stay closely aligned tothe FE and PE exam specifications but not attempt to “teach to the test”. The paper concludeswith a discussion of how these specifications have been used to assess and update academiccurriculum.I. Background on Professional Licensure through NCEESThe National Council of Examiners for Engineering and Surveying (NCEES) is a nationalnonprofit organization dedicated to advancing professional licensure for engineers andsurveyors. It develops, administers, and scores the

Conference Session

Frontiers in Engineering Economy

Collection

2010 Annual Conference & Exposition

Authors

Arup Maji, University of New Mexico

Tagged Divisions

Engineering Economy

werediscussed in weeks 2 and 3, the students were asked to generate their own interest rate tables fora specific set of interest rates for quick reference and program the formulae in their calculators.The students were also asked to do three assignments on Excel using the financial functions toforce them to do work larger problems. One of these problems was to develop the 30-year homemortgage payment table and determine the cost-effectiveness of refinancing a home mortgage atany given point in time.Due to the large number of students, it was not possible to allow individuals to work outproblems on the board. Homework problems developed by the instructor to reflect the materialcovered in class was assigned every week. In the absence of a textbook

Conference Session

Improving course effectiveness

Collection

2013 ASEE Annual Conference & Exposition

Authors

Richard L Marcellus, Northern Illinois University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

applied probability itself, butalso for the nature of problems. They should understand structuring problems and posing problems.They should be informed that there is a spectrum of problems, ranging from well-structuredproblems with definite answers and clear boundaries, such as are found in traditional textbooks (andnowhere else), and open-ended, ill-structured problems, such as are found in the engineeringworkplace. The essential and unique point is that learners s must pose, clarify, and define problems,not simply solve them.And, at the same time, learners should practice metacognitive skills such as reflecting on how theyare building these schemes. Metacognitive activities are manifold and not easy to classify. Howeverthere is widespread

Conference Session

Engineering Economy Course Strategy Panel Session

Collection

2021 ASEE Virtual Annual Conference Content Access

Authors

Michael B. O'Connor P.E., New York University

Tagged Divisions

Engineering Economy

Instruction using revised Bloom Taxonomy References[1] L. W. Anderson, and B. S. Bloom. “A taxonomy for learning, teaching, and assessing: A revision of Bloom's taxonomy of educational objectives.” Longman, 2001.[2] American Society of Civil Engineers. "Civil engineering body of knowledge for the 21st century: Preparing the civil engineer for the future." [Online] American Society of Civil Engineers, 2019.[3] K. Whalen, “The Reflective Learning Framework: A guide for students and educators.” (2018). [Online] https://asp.mcmaster.ca/wp-content/uploads/2018/10/The-Reflective- Learning-Framework-08.2018.pdf[4] S. Buckles, Stephen, and J. J. Siegfried. "Using multiple-choice questions

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

reflecting on what’s working and not .3,4 By taking action on important initiatives ABET’s leaders have demonstrated the innovative spirit they promote in engineering programs. As an example, reference recent changes to the Criterion 2 assessment requirement. With this in mind, now is the time to engage the activated community in a discussion aimed at re-designing the processes inherent in program evaluation.  The confluence of opportunity, culture, and timing all make this a great time to take up the opportunity and engage the question “what needs changed and how best can we do it?” Consider the historical context of engineering accreditation.  History of ABET and Engineering

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

startup businesses. The paper discusses theevolution of the student group from the engineering economy course and the work of theentrepreneurship consulting group that is receiving much attention from program advisory boardmembers, startup businesses, and university leadership.DisclaimerThe views expressed in this paper are those of the authors and do not necessarily reflect theofficial policy or position of the U.S. Air Force, the U.S. Department of Defense, or the U.S.Government.Introduction and MotivationCompany executives from Alcoa, ADT, and Armstrong among representatives from othercompanies that serve on the Industrial & Professional Advisory Council (IPAC) and a ServiceEnterprise Engineering Advisory Board (SEE) in Industrial

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

tend to buy when stocks are higher than average and sell when stocks are at or near their lows.15 – 17, 26  There is evidence that fundamental analysis is linked to successful investing.27 – 29 In finance texts, this is presented as a violation of the semi-strong form of the efficient market hypothesis—all publicly available information is generally reflected in market prices.  There is evidence that on average technical analysis (relying on past trends or patterns in stock prices) doesn’t support “beating the market.” In finance texts, this is presented as the weak form of the efficient market hypothesis is generally true—market prices generally reflect all information about stock price movements.28

Conference Session

Technology and Equipment to Improve IE Instruction

Collection

2012 ASEE Annual Conference & Exposition

Authors

Dave Yearwood, University of North Dakota; Alex Johnson, University of North Dakota

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

; and 2. faculty and industry’acceptance of smaller lathes as viable alternatives to their costly industrial size cousins. Themetal lathe was selected for this study because of its multipurpose nature and the capability ofthe unit to provide hand-on experiences in a variety of manufacturing applications, e.g. milling,drilling, and grinding.Historical PerspectiveThe Industrial education roots can be traced to ancient times where a need existed to educateworkers in the performance of various tasks essential for work. And, according to Bennett, 3industrial education in America reflected the needs and values of an ever-changing world wherefathers provided industrial education for their sons at a time when it was possible for sons tolearn what they

Conference Session

Innovation in Teaching Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

J. Cunha, University of Alberta

Tagged Divisions

Engineering Economy

inherent to most oil and gas prospects. This project showed the existing probabilistic approaches in reserve determination and the difficulties for implementation of such methods. Main points discussed were uncertainty in capital investment, operating costs and well productivity. Economic Analysis of Athabasca Steam Assisted Gravity Drainage Project; A project closely related to Canadian oil industry that discussed the main risks involved in that production technology. It included a model of the project as well as key technical drivers that directly reflect on project’s profitability. A sensitivity analysis was performed to determine the

Conference Session

Engineering Economy Division Technical Session 2

Collection

2017 ASEE Annual Conference & Exposition

Authors

Robert P. Leland, Oral Roberts University

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

evaluating projected cash flows against a Minimum Attractive Rate of Return (MARR), we bring up the issue of whether profitable plants should be closed if their rate of return is not sufficient. Closing the plant would put hundreds of people out of work, and decimate the local economy.  A decision on whether to outsource a labor intensive activity to an overseas plant may need to account for qualitative factors such as local labor practices and how they might reflect on the company reputation, as occurred with NikeThese kinds of issues, that are quite real, require students to have an awareness of the biggerpicture, and a well developed value system.A number of approaches to improve the engineering economics course

Conference Session

Innovations in Teaching Engineering Economy

Collection

2014 ASEE Annual Conference & Exposition

Authors

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

Tagged Divisions

Engineering Economy

readily available resource for individual study, studentsalso seemed to find the app useful for in-class discussions, peer to peer review of problems andpeer tutoring. Overall, students have shown a strong interest in using mobile apps that can assist theirlearning, and we believe that our findings behoove educators and researchers to develop andutilize smartphone applications because of its great potential to be used as a learning tool.Regarding the development of a mobile app for an Engineering Economics course, our improvedapp has reflected the feedback from the student users and implemented many modules to helpstudents reinforce the key concepts and improve their problem-solving skills. The app has beenmade available freely through Apple

Conference Session

Engineering Economy Division Technical Session

Collection

2013 ASEE Annual Conference & Exposition

Authors

Joseph Hubert Wilck IV, East Carolina University; Paul J. Kauffmann P.E., East Carolina University

Tagged Divisions

Engineering Economy

analyze the impact of inflation (real and actual dollars) in societal context.project analysis and use price index methods (CPI for example) to reflect 21. I have improved my ability to applythese changes. mathematics, science and engineering principles.10. I am able to use integrated spreadsheet software (excel) to solveengineering economics problems.11. I am able to analyze global, societal, and ethical issues related tochoosing approaches to solve engineering problems.12. I am able to function effectively on a project team to solve anengineering problem and write a report.13. I am able to communicate effectively using business memos

Conference Session

Innovations in the IE Curriculum

Collection

2012 ASEE Annual Conference & Exposition

Authors

Heidi A. Taboada, University of Texas, El Paso; Jose F. Espiritu, University of Texas, El Paso

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

curricula can be easily replicated at other institutions. Undoubtedly, there will bemany challenges to overcome in the near future to achieve the level of success set by BGREEN.However, all the participating investigators understand the requirements, work and effort neededto make a multi-disciplinary and multi-institutional approach like BGREEN a success.Acknowledgement - This project is funded by a grant received by the United States Departmentof Agriculture under the Hispanic-Serving Institutions Education Grants Program. The findingsand the views expressed in this paper are those of the authors and do not necessarily reflect theposition of the United States Department of Agriculture

Conference Session

Engineering Management Applications

Collection

2012 ASEE Annual Conference & Exposition

Authors

Syed Athar Masood, National University of Sciences & Technology, Rawalpindi, Pakistan

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

practicing project managers inidentifying a crucial factor affecting organizational performance.An organization’s culture is reflected by what is valued, the dominant leadership styles,the language and symbols, the procedures and routines, and the definitions of successthat makes an organization unique1. Cameron and Quinn1 have defined four differenttypes of organizational culture. These are represented as adhocracy, clan, hierarchy,and market. They have suggested the different leadership styles or managerial stylespertaining to the respective organizational culture. When an organization is dominatedby the hierarchy culture, the leadership style shown is that of organizing, controlling,monitoring, administering, coordinating, and maintaining

Conference Session

Pedagogical Advancements in Engineering Management

Collection

2012 ASEE Annual Conference & Exposition

Authors

Kathryn D. Abel, Stevens Institute of Technology; Anirban Ganguly, Stevens Institute of Technology

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

, therefore making it important to both academicians, as well as, practitioners. EM as aformal degree has been present since the mid 1940s 3 and currently, there are more than 100universities in the US offering an undergraduate and / or graduate program in EM. EM programswere historically embedded within the departments of industrial engineering, depending upon theuniversities 4. However, in order to reflect the gradual shift from manufacturing to turn-keysystems integrators in a global economic environment, many more universities are aligning theirEM programs with their systems engineering program 5.Importance of Analyzing FailuresFailure analysis is the process of collecting and analyzing data to determine the cause of afailure. It relies on

Conference Session

Innovations in Teaching Engineering Economy

Collection

2014 ASEE Annual Conference & Exposition

Authors

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

Tagged Divisions

Engineering Economy

would reflect a Page 24.1253.2change in test scores for the first and second sections of the classes. The evaluation is done at a95% confidence level (α = 0.05).The rest of this paper is broken down into Background on the use of videos to support the class,Methods used to develop the additional coursework, Results of the courses evaluated and howthe use of videos affected the test grades, and Conclusion, which ties up the paper and discussesnext steps.BackgroundMost of the students we are currently teaching are from the Millennial generation. These studentsgrew up with the internet and digital technology. 2, 4 They are the first generation to

Conference Session

Innovative IE Course Content

Collection

2013 ASEE Annual Conference & Exposition

Authors

John P. Mullen, New Mexico State University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

1 3. Specific range, such as 1 - 4, 2 - 4 and 3 - 4. 8 4. Four copies per month. 2 5. Illogical range, such as 2-8, 48-60, 4 - 5, etc. 5 6. Expect to sell 0 – 4 copies each month. 9Given that no distribution is specified, the most logical answer is #1. Response 2 considersexpectations, but is too specific for the given information. Responses of type 3 specify a rangeand do not mention expectations. Responses 4 and 5 are clearly incorrect. Response 6 is a logicalconclusion from the structure of the problem that does not reflect any stochastic thinking. Theseresults indicate that about 20% of the class had some

Conference Session

Industrial Engineering Division Tech Session 2, IE-ing the Classroom

Collection

2017 ASEE Annual Conference & Exposition

Authors

Alejandro Salado, Virginia Tech; John Ray Morelock, Virginia Tech; Arash Baghaei Lakeh, Virginia Tech

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

clear: students need access to information and encouragement to pursue thatinformation if they are to successfully detect and resolve discrepancies through adaptation anddecision-making.Points of ImprovementGame Assessment. We found that the weekly reports were helpful in familiarizing the gamemasters with teams’ decision-making processes, and would like to continue this form of serialassessment. However, the prompts for these weekly reports should be more specific, and shouldalign with the learning frameworks identified in our analysis. We propose that in each weeklyreport, teams should be asked to reflect on the following: (1) What discrepancies exist betweenexpected and actual results of the previous week, (2) what strategies led to the

Conference Session

Integrating Research

Collection

2012 ASEE Annual Conference & Exposition

Authors

Alison M. Knight, Mayo Clinic; Gillian M. Nicholls, University of Alabama, Huntsville; Paul J. Componation, University of Alabama, Huntsville

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

reflected the average of thetotal number of attempts for that assignment. For example, if a student scored 80, 90, and 100for the three assignment attempts for Homework #1, the Homework #1 assignment score wouldbe 90. If another student scored 90 and 100 and used only two attempts for Homework #1, thenthe assignment score would be a 95. Students quickly realized that in this scenario they wouldearn a higher score if they repeated the assessment a third time to earn a second 100 and increasethe average.Because these homework assignments were identical for each student and the questions hadmultiple choice answers, the instructors realized that either guessing or the sharing of answersamong students was possible. To counteract the effect of this

Conference Session

Pedagogical Advancements in Engineering Management

Collection

2012 ASEE Annual Conference & Exposition

Authors

Mysore Narayanan, Miami University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

). Page 25.225.6 It is important that the aims and objectives of discovery approach are reflected in everyaspect of the learning environment created. The creative new approach should documentaccomplishments at the upper levels of Bloom's Taxonomy Triangle (Bloom, 1956 & 1976;Boud & Feletti, 1991). Scholars in the area of cognitive science and educational psychologyhave identified four features that clearly separate a problem-based curriculum from a traditional,topic-based curriculum (Nickerson, et. al. 1985).Assessment Procedure Assessment of the Discovery approach was carried out by the author using severalproven, well established and widely recognized tools (Rowntree, 1977). Sample quizzes, homework assignments

Conference Session

Engineering Economy Division Technical Session 2

Collection

2017 ASEE Annual Conference & Exposition

Authors

Isaac W Wait, Marshall University; Sameh M. El-Sayegh, American University of Sharjah; Salwa Mamoun Beheiry, The American University of Sharjah

Tagged Divisions

Engineering Economy

learning gains that have arisen as a resultof student learning during a course of study.Concept inventories have been developed to assess student understanding in a variety of subjects,including physics1, statics2, biology3, genetics4, thermodynamics5, fluid mechanics6, light andspectroscopy7, dynamics8, chemistry9, digital logic10, thermal and transport science11,geoscience12, statistics13, and engineering hydrology14. Perhaps reflecting the wide range ofsubjects they seek to assess, there is substantial variation in the format and length of existingconcept inventories. Some utilize a multiple-choice structure, assigning an all-or-nothingoutcome to student responses, while others incorporate more detailed assessment of studentresponses in an

Conference Session

Industrial Engineering Division Tech Session 2, IE-ing the Classroom

Collection

2017 ASEE Annual Conference & Exposition

Authors

Nadiye O. Erdil, University of New Haven

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

of actively andskillfully conceptualizing, applying, analyzing, synthesizing, and/or evaluating informationgathered from or generated by observation, experience, reflection, reasoning, or communication,as a guide to belief and action”.10 In this context, critical thinking targeted in this study is thestudents’ ability to gather information through various activities and connect and integrate thisinformation for use (as a guide to action) in a more complex assignment. The approach used issimilar to the one employed in Linder et. al. study in terms of assignment sequencing andbreaking up a larger assignment into smaller assignments. However, the smaller assignmentsused in this study are different in nature and type, and how they are connected

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

positively contributeto the education of engineering majors who will be making critical life-cycle decisions forprojects in the near future.Acknowledgment and DisclaimerThis material is based upon work supported by the National Science Foundation under Grant No.1504912. Any opinions, findings, and conclusions or recommendations expressed in this materialare those of the author(s) and do not necessarily reflect the views of the National ScienceFoundation. We would like to thank the regular instructor and the teaching assistant, Dr. MikeHelwig and Mr. Fikri Kucuksayacigil, respectively, for their cooperation and contributions suchas accommodation, advice, and a decision-tree based guest lecture. We also would like to thankthe Department of Industrial

Conference Session

Engineering Economy Division Technical Session 2

Collection

2017 ASEE Annual Conference & Exposition

Authors

Omar Ashour, The Pennsylvania State University, The Behrend College; Faisal Aqlan, Penn State Behrend; Paul C. Lynch, Penn State Erie, The Behrend College

Tagged Divisions

Engineering Economy

product design, process selection, manufacturing system design, etc. affect the company's financial issues. To develop skills that extend the basic concepts to solve problems encountered in personal financial situations.The class involves lectures, quizzes, homework assignments, two midterm exams, in-classproblems, and a final exam. The course grade reflects the student performance in six quizzes(20%), two midterm exams (40%), in-class clicker questions (10%), and a final exam (30%). Theinstructor decided not to grade the homework assignments because these assignments proved tobe ineffective in enhancing students’ learning in previous semesters. The instructor noticed thatstudents would receive a high or perfect grade in the homework

Conference Session

Engineering Economy Division Technical Session

Collection

2013 ASEE Annual Conference & Exposition

Authors

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

Tagged Divisions

Engineering Economy

to age 70, hersurvivor’s benefits will be the increased benefit reflecting his delay.Determine NPV for the alternative strategiesCase 3a. Determine the PV for her if she starts benefits at 62, if he starts benefits at 66, and hersurvivor benefit assuming he dies at age 82 and she dies at age 85.As determined in Case 1, the PV for her benefit, starting at age 62, is: At age 62, = −PV(3%,85-62,1528.20*12*0.75) = $226,162 Page 23.584.8His benefit, taken on his own earnings record, starting at age 66 is: At age 66, =PV(3%,82-66,1528.20*12)*PV(3%,4,0,1) = $204,663Her Survivor benefit, assuming that he dies at age 82 and she

Conference Session

Student Development and Assessment in IE Programs

Collection

2012 ASEE Annual Conference & Exposition

Authors

Yaseen Mahmud, Morgan State University; Masud Salimian, Morgan State University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

. Some of the responses: ‘best chance to understandthe material’, 78%; liked the incremental testing aspect, 56%; benefited from the study routine,44%. Other benefits that students noted were: learned and applied time management skills, 78%;increased individualized time with the instructor, 56%; enhanced presentation skills, 56%.Students’ reflections on the structureThis was an innovative method for teaching an engineering class. None of the students hadencountered a format like it before. Students in the topic group were forced into variousstrategies in order to perform. An unarticulated goal of the format was to create a learningcommunity. Toward this end students were encouraged and did form both formal and informalstudy groups. In the

Conference Session

Improving course effectiveness

Collection

2013 ASEE Annual Conference & Exposition

Authors

Gregory L. Wiles P.E., Southern Polytechnic State University; Thomas Reid Ball, Southern Polytechnic State University (ENG)

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

. (2005). A dynamic, systematic method for developing blended learning. Education, Communication & Information, 5(3), 221–232.4. Bassett, E., & Gallagher, S. (2005). Students prefer hybrids to fully online courses. Recruitment & Retention in Higher Education, 19(8), 7–8.5. Gecer, A., & Dag, F. (2012). A blended learning experience. Educational Sciences: Theory & Practice, 12(1), 438–442.6. Musawi, A. S. A. (2011). Blended learning. Journal of Turkish Science Education (TUSED), 8(2), 3–8.7. George-Palilonis, J., & Filak, V. (2009). Blended learning in the visual communications classroom: Student reflections on a multimedia course. Electronic Journal of e-Learning, 7(3), 247–256.8. Scherrer, C. R

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

. Lessons Learned In preparing the tutorial, I reflected on the way I taught engineering economic analysis and acknowledged some significant changes needed to be made. Specifically, I realized the FE exam has been an excuse for not changing the content in EngEcon and how I taught it. I also concluded the content of my co-authored textbooks has been limited, based on my belief few who teach undergraduate students are willing to deviate significantly from how the course was taught when they took it as undergraduate students. As a result of my reflections, my future teaching (and book revisions) will address explicitly the four take-away messages cited in the summary and conclusions section of the tutorial: 1. All real-options analyses incorporate