Conference Session

Engineering Economy Division Technical Session 1

Collection

2019 ASEE Annual Conference & Exposition

Authors

Joseph Wilck, College of William & Mary; Paul C. Lynch, Penn State Erie, The Behrend College

Tagged Divisions

Engineering Economy

studentsindicating that they are much more comfortable knowing how to plan for their Social Securityretirement decision and how to advise others (e.g., parents, friends) on what the best economicaldecision is for them. While we do not know which student comments came from engineers ornon-engineers, due to the number of positive comments it was a welcome project topic across-the-board.The academic motivation for the case study included Ted Eschenbach and Neal Lewis’s paperson the subject. The most recent paper showed that when to collect social security had smalldifferences in NPV but large differences in risk (i.e., standard deviation). By completing Parts 1-3 of the project, the students reproduced many of the calculations of that paper and certainlycame

Conference Session

Curricula Innovations in Engineering Economics

Collection

2015 ASEE Annual Conference & Exposition

Authors

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

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

Economics Career” app has been made available freely through Apple Appstore and Google Play. We will continue to pursue formative assessment and improvement during Page 26.541.12the NSF grant period. In the future, we plan to continue to use this method to help othereducators to develop apps for their subjects. We foresee a proliferation of educational apps forstudents in the near future.Reference 1. Sandberg, J., Barnard, Y.: Deep learning is difficult. Instructional Science 25, 15-36 2. Dahm, K., Newell, J.: Baseball Stadium Design: Teaching Engineering Economics and Technical communication in a Multi-Disciplinary. Journal of SMET

Conference Session

Engineering Economy Division Technical Session 3

Collection

2017 ASEE Annual Conference & Exposition

Authors

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

requires a car to get to the site and about 3 hours of total time including the tour and travel back and forth from campus.• Macaroon Cookie Business Expansion: This is a theoretical case based on ideas from a student capstone project where a small business company is looking at producing a new product line and they need to analyze if their expansion plans will be cost effective. No tour is provided.• HCP Laser Project – Heating and Cooling Products (HCP) is a small US based ductwork components manufacturer about 1-hour drive north of campus. A previous intern helped develop this case study which was based on the need for the company to improve cost effectiveness in terms of labor and scrap for their blank cutting process for

Conference Session

Innovation in Teaching Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

Joseph Hartman, Lehigh University

Tagged Divisions

Engineering Economy

to the terminal in the Bahamas, plans were to build a 90-mile pipeline to move product to a location north of Miami. In the first trial, students were presented with one article that had considerable data. In the second trial, additional information such as historical natural gas prices and demand was provided. Key Elements: In a provided article, the president of Enron stated that a price of $3 per thousand cubic feet of natural gas makes this look like “a very attractive business,” thereby defining a very critical parameter. The environmental sensitivity of the area and “hot topic” of LNG investments were also interesting additions to the problem.2. Concorde Retirement: One week before the final exam, British Airways and Air

Conference Session

Innovative IE Curricula

Collection

2013 ASEE Annual Conference & Exposition

Authors

Yunchen Huang, Mississippi State University; Lesley Strawderman, Mississippi State University; John M. Usher P.E., Mississippi State University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

. Review of Higher Education, 26(2), 119–144.11. Sherwood, J. L., Peterson, J. N. & Grandzielwski, J. M. (1997). Faculty mentoring: a unique approach to training graduate students how to teach. Journal of Engineering Education,86, 119-123.12. Johnson, P.E. (2001). Changing roles for the Teaching Assistant: a workshop plan. Journal of Graduate Teaching Assistant Development, 8(1), 33-3513. Park, C. (2004). The graduate teaching assistant (GTA): lessons from North American experience. Teaching in Higher Education, 9(3), 349-361. Page 23.81.9

Conference Session

Advances in Engineering Economy Pedagogy

Collection

2010 Annual Conference & Exposition

Authors

Christopher Jablonowski, University of Texas, Austin

Tagged Divisions

Engineering Economy

compromise performance in subsequentintervals. The same issue arises when modeling a drilling campaign, that is, explicit specificationof inter-well dependence.The challenges in implementing an analysis with dependence originate in data collection andestimating relationships, and deciding how to systematically incorporate these assumptions intothe analysis. The data requirements are significant, relationships must be estimated, andassumptions must be specified for how new information will be incorporated into subsequentwell plans. Researchers are actively investigating methods for incorporating statisticaldependence into probabilistic modeling.2Learning CurvesFor the purposes of this discussion, it is helpful to distinguish between the

Conference Session

Integrating Engineering Economy into Curricula

Collection

2014 ASEE Annual Conference & Exposition

Authors

Gene Dixon, East Carolina University; Joseph Wilck IV, East Carolina University

Tagged Divisions

Engineering Economy

review of research literature provides little pedagogy ormethodologies for developing knowledge, skills, and abilities (KSAs) within students that areuseful in designing and crafting a quality economic feasibility analysis. Some assessment rubricswere identified, but these seemed to focus more on if an economic analysis was done and not thequality of economic analysis methods applied. Minimal guidance was identified relative tolesson plans for developing economic feasibility analysis as part of design KSAs. This paper,describes some initial efforts toward developing economic analysis KSAs within seniorengineering students that have begun from some qualitative research and classroom experiences.BackgroundEast Carolina University (ECU) initiated

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

. Mechanical Engineering Technology)? 2. Does your organization hire Engineering Technology (Bachelor Science) Graduates? 3. If yes, in what capacity (i.e. Engineering, Maintenance, Technical Support, etc.)?The brevity of the questionnaire was critical since it was embedded in a larger survey thatparticipants were provided prior to their visit to campus. Before deploying the instrument, theOffices of Institutional Research, Planning and Assessment (IRPA) and Career Servicesreviewed the items for appropriateness, format, item clarity, and ease of use. After incorporatingthe suggestions, the instrument was finalized and administered. Participants were given a two-week window of opportunity, a week before and after their campus visit, to respond

Conference Session

Engineering Management Applications

Collection

2012 ASEE Annual Conference & Exposition

Authors

S. Jimmy Gandhi, Stevens Institute of Technology; Alex Gorod, Visiting Fellow, University of Adelaide

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

affecting everything from the day to day operations ofthe business to senior management’s strategic plans. Economies of scale, scope and skills appearto be wiped out by what Jagersma refers to as “economies of complexity [3].” Increasing complexity has resulted in risks being more prevalent. However, sincecomplexity is a new norm and requires new perspectives, engineering managers today are notfully prepared to manage the risks that arise as a result of these complexities. Managingcomplexity and the risks associated with it currently represents an unclear territory for businessesglobally [4]. According to a study conducted by KPMG at the beginning of last year [5], 94% ofsenior managers stated that managing complexity is one of the most

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

. Table 2: Mapping the EM topics to causes of failures Important causes of failures EM topics 1 Failure in communication Communication for Engineering Managers; Planning and organizing EM projects 2 Quality related failures Quality control for engineering managers 3 Failure in leadership Leadership in Engineering Management ; Leaders versus managers 4 Failure in teamwork Teamwork in Engineering management 5 Failure in flexibility / agility Flexibility in Managing

Conference Session

Student Development and Assessment in IE Programs

Collection

2012 ASEE Annual Conference & Exposition

Authors

Kim LaScola Needy, University of Arkansas; Edward A. Pohl, University of Arkansas; Eric Specking, University of Arkansas

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

students.IntroductionIn 2003, the Department of Industrial Engineering at the University of Arkansas established aglobal studies endowment to provide financial support for activities designed to enhance theunderstanding of the global economy, global business practices and global cultures by theirstudents. A primary use of these funds is to provide supplemental support in the form ofacademic scholarships to defray the expenses of Industrial Engineering undergraduate studentswho wish to study abroad. The department wishes for as many students as possible to participatein a study abroad experience, and in its five-year strategic plan, calls for a goal of at least 25% ofour students to graduate with a global studies experience. In the recent past, about 15% of

Conference Session

Engineering Economy Education

Collection

2011 ASEE Annual Conference & Exposition

Authors

Bruce V. Mutter, Bluefield State College

Tagged Divisions

Engineering Economy

for Applied Research and Technology, (CART), Inc. worked with the School ofEngineering Technology and Computer Science (SET) at a small College to implement a moreactive learning environment for teaching a junior-level engineering economics course (ENGR315). Using a pen-based Tablet PC coupled with the CART CMS, a Moodle®-based coursemanagement service and interactive software, our instructional approach was modified to convertthe traditional lecture-based ENGR 315 course to a more student-centered live learningenvironment.This method is now being planned for introductory mathematics and advanced computer sciencecourses. Results show that the use of pen-based Tablet PC’s coupled with live capture of thelecture posted on the CART CMS have

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

with the client, plan and carry outdata collection, analyze the data, and make a report. As with the modeling exercise, studentsshare the reports with each other via our course management system. This serves to transfer theconcepts developed through simulated data to the real world. Frequently students tell me thatthey are surprised how similar the real-world study is to the simulated one.ObservationsUnfortunately, these graduate-level engineering classes are sometimes low in enrollment. Evenwhen class sizes run between 20 and 40 students, if many students had already developed a levelof stochastic awareness prior to starting the course, sample sizes would be small. Nevertheless, Ido have some indications of success:For example, in a current

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

Paper ID #7590Using Informal Oral Presentations in Engineering Classes: Training Studentsfor the ”You Got a Minute” MomentDr. Justin W. Kile, Quinnipiac University Dr. Kile is an associate professor of industrial engineering Quinnipiac University and is also serving as the interim chair of Quinnipiac University’s Department of Engineering. Prior to joining Quinnipiac in 2012, he was an associate professor and program coordinator for the Industrial Engineering program at the University of Wisconsin – Platteville. His research interests include material handling, facilities planning, and logistics. Additionally his

Conference Session

Industrial Engineering Division Tech Session 1: IE-ing a Broader Perspective

Collection

2017 ASEE Annual Conference & Exposition

Authors

Alejandro Salado, Virginia Tech

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

over 10 years in the spaceindustry as a practicing engineer before joining academia, is illustrative: As the development of a satellite was ending, we (team members) started to talk to each other about what was coming next for us. One of my colleagues said that he was planning to write the continuation of Harry Potter. Intrigued by the idea, we asked him why. His answer was enlightening: “I have had to write so much science fiction in this project, that I feel totally capable to do it!”Engineering work affects society. Consequently, engineers have an inherent responsibility as partof their engineering practice for public safety and environmental sustainability, which requiresengineers to practice engineering

Conference Session

New Topics in Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

John Ristroph, University of Louisiana-Lafayette

Tagged Divisions

Engineering Economy

2006-755: AN ALTERNATIVE PARADIGM FOR ENGINEERING HOMEWORK:THE CASE OF ENGINEERING ECONOMICSJohn Ristroph, University of Louisiana-Lafayette JOHN H. RISTROPH is jointly appointed as a professor of Engineering and Technology Management and as a professor of Economics and Finance at the University of Louisiana at Lafayette. His doctorate is in industrial engineering and operations research, and his non-academic experience includes service to the Louisiana Department of Natural Resources first as Head of Economics and Statistics and then as Director of Policy and Planning. Page 11.171.1© American

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 Economics Teaching Tools

Collection

2015 ASEE Annual Conference & Exposition

Authors

Jerome P. Lavelle, North Carolina State University; Matthew T. Stimpson, North Carolina State University; E. Downey Brill, North Carolina State University

Tagged Divisions

Engineering Economy

some elements (videos and materials) and less for others (time required,overall structure). These effects were considered, along with the instructors’ overallperceptions of this first iteration of flipping, in planning for spring 2013.Spring Semester 2013Structure: Several key changes to the structure of the course were implemented in spring 2013.Class attendance was made optional in this semester, and “optional work sessions” with theinstructors/teaching assistant were substituted and made available to students. This change wasimplemented in response to student feedback on the time required in the course. The changewas also made in an effort to encourage students toward self-empowered learning, andstrengthening their skills related to ABET

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

Conference Session

Frontiers in Engineering Economy

Collection

2010 Annual Conference & Exposition

Authors

Ted Eschenbach, TGE Consulting

Tagged Divisions

Engineering Economy

Ch. 16 Short-term liabilities Ch. 17 Planning & control Ch. 18 Corporate restructuringPages of interest rate tables 32 01 8 18The exemplar finance text is topically more comprehensive than the exemplar engineeringeconomy text, however the engineering economy text has much more detailed models of whatare the economics of an engineering project. The larger number of problems for the engineeringeconomy text suggests that more problems are

Conference Session

Improving IE Course Content

Collection

2012 ASEE Annual Conference & Exposition

Authors

Leonardo Bedoya-Valencia, Colorado State University, Pueblo; Nebojsa I. Jaksic, Colorado State University, Pueblo

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

AC 2012-5126: AN EXERCISE FOR IMPROVING THE MODELING ABIL-ITIES OF STUDENTS IN AN OPERATIONS RESEARCH COURSEDr. Leonardo Bedoya-Valencia, Colorado State University, Pueblo Leonardo Bedoya-Valencia is an Assistant Professor at the Department of Engineering at Colorado State University, Pueblo. He received his M.Sc. in system engineering and his Ph.D. in engineering manage- ment from the National University of Colombia and Old Dominion University, Norfolk, Va, respectively. His research interests include scheduling, operations research, and modeling and simulation in health care and energy planning. He has participated in several funded projects through various sources such as NASA, the Department of Homeland Security

Conference Session

Frontiers in Engineering Economy

Collection

2010 Annual Conference & Exposition

Authors

Neal Lewis, University of Bridgeport; Ted Eschenbach, TGE Consulting; Joseph Hartman, University of Florida

Tagged Divisions

Engineering Economy

phase is increasingly more expensive, and each is dependent on the success of the Page 15.607.3previous phase.As summarized in Figure 1, the testing and approval process is expected to take ten years. If allgoes according to plan, the drug would have 10 years of exclusive marketing rights, beginningwith FDA approval. In Phase I testing, the drug would be given to 20 – 80 healthy people todetermine human safety. The testing is expected to cost $8 million (in year 2) and take two yearsto complete, with an estimated 70% chance of success. In Phase II testing, the drug would begiven to 100 – 300 people to determine the efficacy for treating

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

students even preferred a hybrid Page 23.1176.2course over the old traditional classroom 4. Our quasi-study supports this.The description of the traditional classroom for this department is a twice-a-week classconsisting of 75 minutes of f2f per class period. The instructor conducts the class in a traditionalmanner with transparency projectors or perhaps with the help of technology such as acomputer/projector and PowerPoint slides combination. Homework and tests are typically givenand received through paper handouts and take ups. Our plans were to migrate toward a hybridlearning environment, also called blended learning and the terms can be

Conference Session

Curricula Innovations in Engineering Economics

Collection

2015 ASEE Annual Conference & Exposition

Authors

Letitia M. Pohl, University of Arkansas; Shelly Walters, University of Arkansas

Tagged Divisions

Engineering Economy

,people learn more deeply when they integrate text and pictures, thereby building both verbal andpictorial representations of the same material.2 The slides from the lecture-style videos includedin our example course are admittedly very text-heavy. Melissa Marshall convincinglydemonstrates the assertion-evidence approach to presentation development,4 and therefore theauthors plan to move towards this approach during the next revision of the instructional videos.Provide Focused ContentInstruction should not be technology-centered, but rather learner-centered. It is not the mediumin which the content is delivered (video versus live presentation, or slide presentation versustalking head), but the pedagogy and the instructional method that results in

Conference Session

Innovative IE Course Content

Collection

2013 ASEE Annual Conference & Exposition

Authors

Julie Ann Layton, Rensselaer Polytechnic Institute; Thomas Reed Willemain, Rensselaer Polytechnic Institute

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

-eight out of thirty-nine possible participants had amajor within the Industrial and Systems Engineering Department, one being a MechanicalEngineer. Most students in QC are juniors and seniors with more than one prior course instatistics. By the end of this course students should have the ability to identify, formulate andsolve engineering problems, and model the stochastic nature of management systems andengineering relationships to the planning, organization, evaluation and control of human centeredsystems. The course places a heavy emphasis on control charting using Minitab 16. QC will becalled the Level 2 course for the remainder of this paper.At the start of the experiment, students provided various items of demographic information (e.g

Conference Session

Innovative IE Curricula

Collection

2013 ASEE Annual Conference & Exposition

Authors

Saylisse Davila, University of Puerto Rico, Mayaguez Campus; Viviana I. Cesani, University of Puerto Rico, Mayaguez Campus; Alexandra Medina-Borja, University of Puerto Rico at Mayaguez

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

. Viviana Cesani is a professor of Industrial Engineering at the University of Puerto Rico at Mayaguez (UPRM). She completed her Ph.D. degree in Manufacturing and Production Systems at the University of Wisconsin-Madison in 1998. Her areas of interest in teaching and research include production plan- ning and control, supply chain management, engineering economy, project management, and engineering education. She is currently the department head of the IE department at UPRM. Dr. Cesani is a senior member of IIE, President of the UPRM-Delta Chapter of the International Organization for Women Ed- ucators, and member of the Professional College for Engineers and Land Surveyors of Puerto Rico. She was recognized as UPRM

Conference Session

Innovations in Teaching Engineering Economy

Collection

2014 ASEE Annual Conference & Exposition

Authors

Gillian M. Nicholls, University of Alabama, Huntsville; Neal A Lewis, University of Bridgeport; Ted Eschenbach P.E., University of Alaska Anchorage

Tagged Divisions

Engineering Economy

used clickers in nearly every classfor the last 10 years. Three semesters ago there was the opportunity to move a class into acomputer lab. Coincidentally, this was the first semester that the instructor decided to relyprincipally on online homework after a trial run of online homework had been veryenthusiastically received the previous semester. Thus this class had quick feedback in class fromclickers. Students were able to see if their work matched the instructor’s for spreadsheets, andthen for homework, students received instant feedback, suggestions, links to text sections, andmultiple tries to get it right.The results were so good, that a talk on the “Best Teaching Experience of my 35-year Career”was planned. Two subsequent semesters have

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

Conference Session

Engineering Economy Education

Collection

2011 ASEE Annual Conference & Exposition

Authors

Louis Reifschneider, Illinois State University

Tagged Divisions

Engineering Economy