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

, Engineering, and EntrepreneurshipAbstractCreative minds often times have innovative ideas for designing products and services that maylead to successful businesses but these potential entrepreneurs often need an outside perspectivefrom practitioners trained in business and engineering that can analyze potential ideas, performengineering economic analyses, and help construct business plans to help entrepreneurs proceedin a fiscally responsible and systematic manner. Engineering economy is at the center of eachand every business decision made in today’s fast paced business world. Whether it be a rate ofreturn analysis, payback analysis, net present worth analysis or a host of other engineeringeconomic analyses, the ultimate

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

provide a description of ourmethods, which includes the site where the intervention was conducted, the design of theintervention, the data collection process, and the data analysis approach. Then, we present theresults of the intervention and provide a summary of the conclusions, implications, andrecommendations for our planned next steps in this research direction. The results of this studyare meant to inform a more thorough, mixed methods assessment of the simulation game’s nextimplementation, as well as to refine and iterate the game’s design.BackgroundContemporary engineering work primarily involved solving problems related to decision-makingamong alternatives, troubleshooting malfunctioning systems, and design, all of which requiresome level

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

understand that only their imagination limits them to using this flexible toolto develop scenarios to test the worthiness of the design project. Stress over and over again thepurpose is not to make a Financial Operational Model to get a value for the Internal Rate of Return,Net Present Value, and Payback time in years. It is to develop scenarios to test the project’sviability, to see potential weaknesses that must be studied further before moving ahead with theproject, and to plan for success. And that is not all. A good Financial Operational Model is a livingdocument. Once the design is built and put in practice, it still has use. It can be modified todetermine upgrades to potential equipment, changes to feed stocks, issues with labor wages

Conference Session

Engineering Economy Division Technical Session 3

Collection

2016 ASEE Annual Conference & Exposition

Authors

Paulina Z. Sidwell, McLennan Community College

Tagged Topics

ASEE Diversity Committee, Diversity

Tagged Divisions

Engineering Economy

her M.S. in Industrial Engineering from NMSU while conducting research over scheduling and policy optimization in health- care. At McLennan Community College, she serves in various committees, including the Mars 101 Com- mittee and the Strategic Planning Committee. She has participated in various study-travel experiences as sponsor/faculty, such as Mars 101, Geology Field Course, and the Australia/New Zealand Overseas Experience. She also serves as an advisor for the Engineering & Physics Club. c American Society for Engineering Education, 2016 Engineering Economics International Experience for Community College StudentsAbstractMcLennan Community

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

capability analysis, measurement systemanalysis, specification and tolerances, and acceptance sampling plans. Students typically take thiscourse in the second year of their masters program. The course learning outcomes are (a) Defineconcepts in quality and quality management; (b) Apply statistical tools in analysis andapplication of Statistical Process Control; (c) Produce and employ control charts; (d) Explainsampling process; and (e) Design acceptance sampling procedures for quality control.The course work and activities typically include a term paper, a term project, homework, in classexercises and discussions, quizzes and two exams (midterm and final). During the study periodthe author added the library training and a factory visit to the class

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 2

Collection

2017 ASEE Annual Conference & Exposition

Authors

Robert P. Leland, Oral Roberts University

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

University, this is a two credit class, taught at the 400 level, and taken primarily byseniors at the same time as senior design. For their senior projects, students are required toestimate costs, and plan and track progress, so there are some connections. It has been veryhelpful to enrich the course through short assigned readings, in class topics and a research paper.The goal is to give students a broader perspective on economic activity and the business side ofengineering. These assignments and lectures address the non-quantitative side of practicingengineering and business that is quite real, and can easily overshadow the quantitative variablestreated in most textbooks.ReadingsThe readings are taken from business and investing publications

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

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