Conference Session

Technology and Equipment to Improve IE Instruction

Collection

2012 ASEE Annual Conference & Exposition

Authors

Richard A. Pitts Jr., Morgan State University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

, Engineering and Math (STEM) courses to solve real-world problems in the areas oftransportation, scheduling, manufacturing, logistics, and many others.With a Course, Curriculum and Lab Improvement (CCLI) grant project sponsored by theNational Science Foundation from 2009 - 2011, an updated Industrial Robotics and AutomatedManufacturing (IRAM) laboratory was developed. Utilizing this newly updated laboratory atMorgan State University (MSU), students are now able to use modern equipment within a set ofcourses specifically designed around the facility. These courses are in the areas of advancedmaterial handling systems, robotics and automation, computer-aided manufacturing, and flexiblemanufacturing systems. The integration of these courses with a hands

Conference Session

Frontiers in Engineering Economy

Collection

2009 Annual Conference & Exposition

Authors

Philip Brach, University of the District of Columbia; Ahmet Zeytinci, University of the District of Columbia; Pradeep Behera, University of the District of Columbia

Tagged Divisions

Engineering Economy

wide-spread impact on engineering projects, particularly public works. Compounding thissituation is the already inadequate funding for addressing the rebuilding of the nation’s aginginfrastructure.With the thrust to give more consideration to the social impact of engineering works and theimportance of inculcating these aspects into engineering education, this paper articulates apossible case study that could incorporate economy principles and a national fiscal problem intothe engineering curriculum in either an economics course or a senior capstone or ethics course.Using a subject from current events can demonstrate to students how engineering economicprinciples can be used to assess public policy alternatives. An ancillary aspect of this

Conference Session

Engineering Economy Division Technical Session 1

Collection

2018 ASEE Annual Conference & Exposition

Authors

Ona Egbue, University of South Carolina, Upstate

Tagged Divisions

Engineering Economy

time to engage students in problem solving, discussions and intensiveteamwork. The engineering economics course was selected for active learning implementationbecause it is a course that students are required to take for their Mechanical Engineering andIndustrial Engineering degrees at University X. Engineering economics is a course that is criticalto industry-bound students due to its real-world applications. In addition, it is a course that isintegral to engineering senior capstone projects at University X. Changes in this course focusedon collaborative learning to help promote critical thinking and to encourage more activeinteraction among groups of students and across different student groups. The results of thisstudy provide insight into

Conference Session

Engineering Economy -- The Introductory Course

Collection

2008 Annual Conference & Exposition

Authors

Christopher Jablonowski, University of Texas at Austin

Tagged Divisions

Engineering Economy

AC 2008-145: USING DECISION TREES TO TEACH VALUE OF INFORMATIONCONCEPTSChristopher Jablonowski, University of Texas at Austin Christopher J. Jablonowski is an Assistant Professor in the Department of Petroleum and Geosystems Engineering, and Associate Director of the Energy and Earth Resources Graduate Program at the University of Texas at Austin. Prior to joining the faculty at UT, he worked as a consultant with Independent Project Analysis, Inc. where he performed empirical research and capital project studies for oil and gas companies worldwide. He has also held positions as a Senior Drilling Engineer and Buyer with Shell Oil Company, and as an Energy Economist with the U.S

Conference Session

The Evolution of Engineering Economy

Collection

2007 Annual Conference & Exposition

Authors

Joseph Hartman, Lehigh University; David Enke, University of Missouri

Tagged Divisions

Engineering Economy

; and Missouri-Rolla, which has a certificate program.Northwestern University no longer offers a course in “engineering economy”. Rather, they offera course in “Economics and Finance for Engineers” which is described as “Principles ofcorporate finance; financial decisions of firms; value; risk and return; investment and capitalbudgeting decisions under certainty and uncertainty; performance evaluation.”2 Clearly, this is amix of topics that would be found in corporate finance and traditional engineering economycourses. However, not all of these topics would be covered in a typical engineering economycourse. While engineering economy has at times focused more on project evaluation througheconomic analysis, considering the effects of depreciation

Conference Session

Engineering Management Applications

Collection

2012 ASEE Annual Conference & Exposition

Authors

Craig G. Downing, Rose-Hulman Institute of Technology

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

Managers, and Campus Recruiters charged withsourcing and acquiring baccalaureate-level technical talent and the potential role of EngineeringTechnologists in meeting this need.IntroductionDuring the 2010/2011 academic year, the author participated in a collaborative project betweenRose-Hulman Institute of Technology and Ivy Tech Community College, Terre Haute campus.The opportunity sought to provide engineering and technology students with project experiencefocused on a new product development process that is truly reflective of the 21st centuryworkplace. A primary goal of the project was to provide students with an educational experiencethat mirrored their potential work environment in terms of technical rigor, managerialresponsibility, and

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

23.1255.7creates a modeling problem in that observing such a system for too short a time is likely to leadto a misleading model.Applied ProjectsIn some courses, I encourage students to do an applied project. This is an intensive exercisetaking several weeks, so I do not use it in all courses. I carry this out in two steps.Step 1: Modeling ExercisesIn preparation for the applied project, I assign one or more team modeling exercises. Theseinvolve extracting data from simulated transaction logs, then characterizing distributions andmodeling the system. For the most part, these activities address issues that have frequently arisenin past projects. By carrying out the activities in a simplified setting, students are better able tofocus on the key aspects of

Conference Session

Innovative IE Course Content

Collection

2013 ASEE Annual Conference & Exposition

Authors

Justin W. Kile, Quinnipiac University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

was a surprise to theauthor on his first co-op. Employers have expressed a concern over the lack of clarity,confidence, and sometimes professionalism shown by new hires. Through discussions withpracticing engineers, it has become clear that for some engineers the informal oral presentationof information is a common occurrence in day to day activities. Some examples include (a)informing operators of new procedures after emergency modifications or changes to machinesand operating procedures (b) giving supervisors a quick explanation of current project status and(c) being brought into a meeting to give the engineering perspective.Preparing students for these “you got a minute” moments is often not addressed in theundergraduate curriculum. Either

Conference Session

Applications of Engineering Economy

Collection

2008 Annual Conference & Exposition

Authors

John Robertson, Arizona State University; Michael Kozicki, Arizona State University; Slobodan Petrovic, Arizona State University

Tagged Divisions

Engineering Economy

success and the vulnerability to a weakness in any one of them. It is a useful framework for student projects where some reasoned case has to be made for the likely evolution path.Many parties have an interest in making objective assessments of the possible success ofemerging technologies - from investors to students pondering their career direction. Tomake the task more tractable, cases that are judged individually on merit have beenexcluded. This avoids the minefield of research project funding, venture capital andpeer-reviewed publications. Instead, this paper concentrates on cases where there is nosingle project advocate. The goal is to determine the maturity state and intrinsic merits ofan emerging technology rather than

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

able to determine what type of students we had relative to intelligence belief6,we focused on the results of Kunh and Rundle-Thiel11 to assure our various course sectionsconformed as much as possible to the concept of constructive alignment. Consequently, thecourse material was organized based on identification of a set of common learning objectives Page 26.378.3contained in Table 1 and a common set of test questions, coupled with a shared student survey.A common rubric and project assignment was used to evaluate the first objective. Objectives 2-8had an exam question which was assessed using a common 1-4 point rubric / scoring system

Conference Session

Improving course effectiveness

Collection

2013 ASEE Annual Conference & Exposition

Authors

Susan L. Murray, Missouri University of Science & Technology; Julie Phelps, Missouri S&T, Educational Technology

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

Paper ID #5847Electronic Flashcards as a Tool to Improve Exam ReadinessDr. Susan L. Murray, Missouri University of Science & Technology Susan L. Murray is a professor of engineering management and systems engineering at Missouri Univer- sity of Science and Technology. Dr. Murray received her B.S. and Ph.D. in industrial engineering from Texas A&M University. Her M.S. is also in industrial engineering from the University of Texas-Arlington. She is a professional engineer in Texas. Her research and teaching interests include human systems in- tegration, productivity improvement, human performance, safety, project

Conference Session

Advances in Engineering Economy Pedagogy

Collection

2009 Annual Conference & Exposition

Authors

Abhijit Gosavi, Missouri University of Science and Technology

Tagged Divisions

Engineering Economy

underlying revenuemanagement are rooted in operations research, they can certainly be taughtto engineering students. It took a long time for supply chain managementto make its way from business schools to engineering schools, andengineering professors have mixed feelings about the fact that it took sucha long time. It will be interesting to see if revenue management follows asimilar route, and if it ever does how long it takes to make this journey.An outline of the course that was taught in an engineering department,along with a description of the course contents, will be presented. Whatthe instructor learned while teaching the course will also be described. Inaddition, specific areas that were treated in detail and the projects providedfor students

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

the explanations and example problems used in the textbook.IntroductionEngineering programs in Canada and the United states have similar accreditation processes andcriteria [1], [2]. ABET accredits programs in the United States while the Canadian EngineeringAccreditation Board (CEAB) accredits programs in Canada. In each system, the ability of astudent to consider the constraints of economics and incorporate economics into engineeringdesigns, projects and considerations is a requirement. As such, engineering programs must offerEngineering Economics in their programs and often fulfill this requirement with a coursededicated to this topic though it could be fulfilled in other courses such as design courses.As part an internal improvement study

Conference Session

Student Development and Assessment in IE Programs

Collection

2012 ASEE Annual Conference & Exposition

Authors

Mahesh C. Aggarwal, Gannon University; Karinna M. Vernaza, Gannon University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

by this industry upon graduation at highly competitive salary. c. Industries and universities can collaborate for graduate research program. Under this collaboration, industries assign a project to a faculty member who hires students to work part time on the project throughout the academic year under the supervision of the faculty member. Most of the projects are of short duration lasting around 6 months to a year. Over the last 10 years this collaboration has been highly successful between Gannon University and a local industry. The name of the current program at Gannon University is Graduate Research Program (GRP). To date, 50 graduate students, majoring in electrical engineering and mechanical

Conference Session

Engineering Economy -- Outside the Introductory Course

Collection

2008 Annual Conference & Exposition

Authors

Neal Lewis, University of Bridgeport; Ted Eschenbach, TGE Consulting

Tagged Divisions

Engineering Economy

analysishas received wide attention in advanced finance coursework, its application to engineeringeconomy and real engineering projects has been more limited. However, options analysis hasbeen a significant issue in engineering economy research, and one that regularly appears in ourliterature. How familiar are we as engineering educators with real options analysis? Are weteaching real options to our students? We found no information in the literature regarding thesequestions.Historical Development of Real OptionsFinancial options were developed in the early 1970s in academia. The famous Black-Scholesequation was developed by Fischer Black of the University of Chicago and Myron Scholes ofMIT’s Sloan School of Management1. They worked closely with

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

Class AbstractThis paper describes an effort to enrich the Engineering Economics course by adding readings,class discussion topics and a research paper. The goal is to help students understand the non-quantitative side of engineering economics. In particular, students are exposed to examples ofusing engineering or business techniques to benefit people in need, and to introduce notions ofrisk and the quality movement.IntroductionThe majority of Engineering Economics textbooks cover the numerical basis for estimatingcosts, evaluating and comparing projects based on cash flows and computing taxes. This reflectsthe material needed for the FE exam very directly. The focus is on quantitative analysis based

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

information in balance sheets and income 16. I have improved my understanding ofstatements and use this to analyze important financial ratios. contemporary issues related to engineering4. I am able to perform compound interest calculations using nominal and economics.effective interest rates including continuous compounding. 17. I have improved my ability to design a5. I am able to analyze project and investment alternatives using the system, component, or process to meet desiredconcepts of equivalent cash flows: present, annual and future worth. needs.6. I am able to apply the principles and methods of

Conference Session

Student Development and Assessment in IE Programs

Collection

2012 ASEE Annual Conference & Exposition

Authors

Terri M. Lynch-Caris, Kettering University; Jonathan Weaver, University of Detroit Mercy; Darrell K. Kleinke, University of Detroit Mercy

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

industry experience in the design and development of electro- mechanical systems. As a tenure-track faculty member of the UDM Mechanical Engineering Department, he has adopted a program of instruction that UDM has branded ”Faces on Design,” in which student project work is made more meaningful as students have the opportunity to see and experience the faces of real live clients. In the series of design courses he teaches, students design mechanical devices for use by disabled clients. In addition to academic work, Kleinke is a registered Professional Engineer and conducts seminars on innovation that are tailored to the needs of automotive engineers. Kleinke’s recent publication, ”Capstones Lessons to Prepare Students

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

analyses should be performed: As to when real-options analysesshould be performed, Eschenbach, et al pointed out, “Real options have their application only inthose projects where the NPV is close to zero, where there is uncertainty, and where managementhas the ability to exercise [its] managerial options.” [2, p. 401]When deciding if an individual investment should be pursued in the future, students have nodifficulty accepting the decision rule: pursue if the present worth is positive-valued; otherwise, donot pursue the investment. However, they do not readily accept a decision to pursue a futureinvestment having a negative-valued present worth because of the intrinsic value of the flexibilityto pursue (or not pursue). Realizing such decisions are

Conference Session

Applications of Engineering Economy

Collection

2008 Annual Conference & Exposition

Authors

Benjamin Kelley, Baylor University; Robert Doty, Baylor University; Bill booth, Baylor University; Cynthia Fry, Baylor University

Tagged Divisions

Engineering Economy

AC 2008-2438: ENGINEERING ECONOMY ASSESSMENT OF BAYLOR'S PILOTGLOBAL BUSINESS COMMUNICATION COURSEBenjamin Kelley, Baylor University Dr. Benjamin Kelley is the Dean of Baylor University’s School of Engineering and Computer Science. His area of technical expertise is in orthopedic biomechanics and cardiovascular dynamics. He is committed to a number of academic projects including global education, student life, and faculty development.Robert Doty, Baylor University Dr. Bob Doty serves as Professor of Mechanical Engineering in the School of Engineering and Computer Science at Baylor University. His research interests include Computer-Aided Design and Data Acquisition Systems. Dr. Doty designed

Conference Session

Innovations in the IE Curriculum

Collection

2012 ASEE Annual Conference & Exposition

Authors

Jane M. Fraser, Colorado State University, Pueblo; Abhijit Gosavi, Missouri University of Science & Technology

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

these programs overlap somewhat with the Industrial and SystemsEngineering model, sometimes including, for example, coursework on deterministic andstochastic models from operations research, engineering economy, simulation, and reliability.Overlap is also sometimes present with information technology in coursework in softwaresystems engineering.Among these INCOSE like programs, GWU uses Dr. Eisner’s books Essentials of Project andSystems Engineering Management6 and Managing Complex Systems,7 as well as Managing forthe Future1 by Ancona, Engineering Economy24 by Sullivan, and Making Hard Decisions5 byClemen. Textbooks used in core courses at MST include Systems Engineering and Analysis2 byBenjamin S. Blanchard and Wolter J. Fabrycky, Spreadsheet

Conference Session

Applications of Engineering Economy

Collection

2008 Annual Conference & Exposition

Authors

Donald Merino, Stevens Institute of Technology; Jakob Carnemark, SKANSKA

Tagged Divisions

Engineering Economy

AC 2008-835: OPTIMIZING DATA CENTER REDUNDANCYDonald Merino, Stevens Institute of Technology Donald N. Merino is a tenured full professor and the Alexander Crombie Humphreys Chaired Professor of Economics of Engineering at Stevens Institute of Technology. He teaches Engineering Economy, Decision Analysis, Total Quality Management, and Strategic Planning. He is Founder Emeritus of the undergraduate Bachelor of Engineering in Engineering Management (BEEM) and the Executive Master in Technology Management (EMTM) Program at Stevens. He won the Morton Distinguished Teaching Award for full professors at Stevens. John Wiley published his book, “The Selection Process for Capital Projects”. Dr

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

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

devices. 116 students participated in this study. Surveys and interviewresults showed that the majority of the students who used the app said that the app aided theirlearning. 94% of the users said that they would recommend using the app to others who studyEngineering Economics.* Acknowledgment: This project is partially supported by a grant from the National ScienceFoundation DUE-1140457 to Lamar University. Page 24.3.2 1. Introduction Engineering Economics is a core class in the field of engineering and is also covered on theFundamentals of Engineering (FE) exam, which is the first step to be a Professional Engineer(PE). This course teaches

Conference Session

Engineering Economy Education

Collection

2011 ASEE Annual Conference & Exposition

Authors

Bruce V. Mutter, Bluefield State College

Tagged Divisions

Engineering Economy

AC 2011-1041: USING PEN-BASED TABLET PC TECHNOLOGY TO IM-PROVE INSTRUCTION IN ENGINEERING ECONOMICSBruce V. Mutter, Bluefield State College Bruce V. Mutter is the founder and CEO of the Center for Applied Research & Technology, Inc. (CART) and teaches project management and engineering economics at Bluefield State College as an Associate Professor in the School of Engineering Technology. Page 22.1628.1 c American Society for Engineering Education, 2011 Using Pen-Based Tablet PC Technology to Improve Instruction in Engineering EconomicsAbstractA Center

Conference Session

Engineering Economy Division Technical Session

Collection

2021 ASEE Virtual Annual Conference Content Access

Authors

James Burns, Western Michigan University; Bob White P.E., Western Michigan University

Tagged Divisions

Engineering Economy

Wall Street Journal to Provide National and Global Perspectives in an Engineering Economy CourseAbstractObjectives: Engineering economy courses typically follow a format that includes themathematics of time value of money, project analysis using methods such as NPV and IRR, andsome tax and depreciation coverage. These topics provide students with a good background toeconomically analyze projects, but they do not provide a big picture perspective of howengineers interact with the world at large and how engineers are involved in economicundertakings that span the globe. This paper will describe how the Wall Street Journal (WSJ) isused throughout an undergraduate engineering economics course to provide students a world-wide

Conference Session

Engineering Economy Division Technical Session

Collection

2013 ASEE Annual Conference & Exposition

Authors

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

Tagged Divisions

Engineering Economy

LamarUniversity. It will give students more opportunity to learn and practice Engineering Economicswhenever they have spare time. The preliminary assessment results in Fall 2012 semester arepresented in this paper. Surveys and interviews are conducted with randomly selected students toget a better understanding of the impact of the mobile app. The authors are now in the process oftransforming the app into game-style. Further development and improvement with formativeassessment is planned in the next three years.* Acknowledgment: This project is partially supported by a grant from the National ScienceFoundation DUE-1140457 to Lamar University. 1. Introduction Engineering Economics is a core class in engineering and is often required in

Conference Session

Improving IE Course Content

Collection

2012 ASEE Annual Conference & Exposition

Authors

Hung-da Wan, University of Texas, San Antonio; Yi-Ching Liao, University of Texas, San Antonio; Glenn Kuriger, University of Texas, San Antonio

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

Mechanical Engineering at the University of Texas, San Antonio (UTSA). He has been involved with lean implementation projects with several organizations. He has done lean work in the manufacturing, service, and other industries. He is also working to develop and teach a series of lean short courses that CAMLS is currently offering to industry. His current research interests include lean concepts, lean healthcare, lean simulation training games, simulation, operations research, and multi-criteria optimization. Page 25.1104.1 c American Society for Engineering Education, 2012

Conference Session

Assessment and Accreditation in Engineering Management

Collection

2012 ASEE Annual Conference & Exposition

Authors

Amy K. Zander, Clarkson University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

in the curriculum. Statics,computing, electrical science, thermodynamics and a course in materials (either materials scienceor strength of materials) are the most commonly incorporated traditional engineering courses inthe curriculum.As seen in Figure 4, all of the engineering management programs require a course in operationsand production management as well as a course in project management. A course in qualitymanagement is also a part of most of the curricula.Most engineering management curricula also have required courses that are more traditionallyconsidered to be business courses. The common business courses that are required are a coursein economics, and also accounting (cost, managerial or financial) and marketing.All schools also

Conference Session

Instructional Design

Collection

2012 ASEE Annual Conference & Exposition

Authors

John H. Ristroph, University of Louisiana, Lafayette

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

obtain and organizeinformation at a national level that is not routinely available to academic decision makers,specifically industrial needs and how academic practices address those needs. This paperexamines each of these subjects in the following sections, and then discusses implementationstrategies.RelevancyIs engineering economics, or any other specific topic, relevant and how important is it?Traditionally, science has sought to provide knowledge, and engineers put that knowledge to apractical use. This would seem to make engineering economics relevant because two of theprimary criteria of the utility of an engineering project are: Does it work? Does it provide a return on its investment?Nonetheless, if the National Council of