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

Paper ID #17118Critical Life-Cycle Decision Making for Projects under UncertaintyDr. K. Jo Min, Iowa State University K. Jo Min is Associate Professor and Associate Chair, Director of Undergraduate Education in Industrial and Manufacturing Systems Engineering Department at Iowa State University. He teaches courses on pro- duction systems, closed-loop supply chains, and engineering valuation. His education research interests include outcome assessment and visualization aids, and his engineering research focuses on application of stochastic optimal control on engineering decision making. He has co-authored numerous papers in

Conference Session

Engineering Economy Division Technical Session 3

Collection

2017 ASEE Annual Conference & Exposition

Authors

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

Paper ID #18126Case Studies Under Your Nose: Using Campus Projects as Case Studies forEngineering EconomyAimee T Ulstad P.E., Ohio State University Aimee Ulstad, P.E is an Associate Professor of Practice in the Integrated Systems Engineering Department at The Ohio State University. Prior to joining the faculty at Ohio State, Aimee was an industry professional in various field in engineering for over 30 years. Aimee received her degrees in Mechanical Engineering and Masters in Business Administration from Ohio State. She began her career as a packaging equipment engineer at Procter and Gamble, then moved to Anheuser-Busch

Conference Session

Engineering Economy Division Technical Session 3

Collection

2017 ASEE Annual Conference & Exposition

Authors

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

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

education. In this paper, we present an overview of asemester-long research project for a graduate course in Capital Budgeting. At the core of theproject is a student-developed Capital Budgeting simulation model. This model is used both as atool for examining the effectiveness of existing capital project ranking methods such as IRR,NPV, and Payback, and also as a research platform for testing new ranking and selectionmethods. The project consists of three phases. The first phase is comprised of individual workwhere students design and program a basic Capital Budgeting simulation model using MicrosoftExcel and Visual Basic for Applications (VBA). During the second phase, students transitioninto small self-selected teams to validate and then expand

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

increasingcomplexity through initial exercises and subsequent assignments; they reported that studentsshowed significant gains in their abilities to perform the skills targeted with these assignments. 5Linder et al. used a modified version of the first approach and employed scaffolding inredesigning an introductory computer science course to keep students interested in their selectedmajors and better prepare them for higher-level classes. 6 Their scaffolding structure includedclassroom activities and short one-week assignments that target the skills needed in a largerassignment, which was the final class project. They observed that with the instructionalscaffolding approach followed in structuring and conducting assignments, the weaker studentswere able to

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

25 new courses. He has supervised over 35 Industrial Design Projects. He is a returned Peace Corps Volunteer. He is dedicated in helping his students to succeed.Dr. Otsebele E Nare, Hampton University Otsebele Nare is an Associate Professor of Electrical Engineering at Hampton University, VA. He received his electrical engineering doctorate from Morgan State University, Baltimore, MD, in 2005. His research interests include System Level Synthesis Techniques, Multi-Objective Optimization, Device Modeling and K-16 Integrative STEM education. American c Society for Engineering Education, 2020 Work in Progress: Engineering Economy Taught Across

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

, given principal, interest rate, and pay period. 5. Perform project evaluation, including cost/benefit analysis. 6. Articulate principles of taxation and depreciation. 7. Perform capital budgeting, cost comparisons, and replacement analyses. 8. Solve problems at a level consistent with expectations of the engineering economics portion of the Fundamentals of Engineering examEngineering is a global and interdisciplinary field. Accreditation boards and engineeringeducation institutions across the board have called for a more well-rounded engineeringeducation, expressing the need for engineers that are better equipped to understand the impact ofthe global economy on engineering solutions, as well as the social and global

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

decision to fund an engineering project, merger, acquisition, orto provide venture capital to an entrepreneur comes down to using the basic principles learned inengineering economy. This paper discusses the evolution of an engineering economy curriculumand the birth and success of a business and engineering student group that grew out of theengineering economy course that has grown from six to over 70 active members in just twoyears. All students in the student group completed the engineering economy course assophomore or junior engineering students and have gone on to serve as financial advisers for thecurrent engineering economy students, sponsor company case competitions, and most recentlyserve as consultants in the local community to help

Conference Session

Engineering Economics Teaching Tools

Collection

2015 ASEE Annual Conference & Exposition

Authors

Shervin Zoghi, California State University, Fresno

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

, teamwork-intensive activities, and group projects. Numerous studies show the positive influencecollaborative learning had on promoting higher levels of understanding and stronger retention ofmaterial6. As such, practices have been successfully established in engineering economicscourses. One such course is the University of Pennsylvania’s ESE 400/540 – EngineeringEconomics course. In conjunction with the aforementioned studies and ABET requirements, ESE400/540 mandates that the expected outcome is to “be able to work effectively in teams of 4 or 5to perform case study analyses and to present findings in written reports and verbalpresentations” [ABET Program Outcome D]. The professor integrated this by assigning teamcase study projects, whereby

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

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

the E-book and use the calculatorand interest tables to help themselves. This app has been developed for both Apple iOS andGoogle Android platforms, and they have been released in the Google Play and Apple App Store.The cross-platform app development allows easy deployment to multiple mobile platforms. Thisapp is intended to give students more opportunity to learn and practice concepts of EngineeringEconomics whenever and where they want using their mobile devices.* Acknowledgment: This project is partially supported by a grant from the National ScienceFoundation DUE-1140457 to Lamar University. Page 26.541.2 1. Introduction Engineering

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

Systems Engineering Research and the Fulbright International Science and Technology Award. Dr. Salado holds a BSc/MSc in electrical engineering from Polytechnic University of Valencia, an MSc in project management and a MSc in electronics engineering from Polytechnic University of Catalonia, the SpaceTech MEng in space systems engineering from Delft University of Technology, and a PhD in systems engineering from the Stevens Institute of Technology. He is a member of INCOSE and a senior member of IEEE and IIE.Mr. John Ray Morelock, Virginia Tech John Morelock is a doctoral candidate at Virginia Tech. His research interests include student motivation, game-based learning, and gamified classrooms. He received the NSF

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

incentivized the development of modules, lessons, or class projects that have a clearhumanities-based learning objective and have the potential to reach many students. The moduledescribed here was funded for development through an internal grant, and this paper presents asummary of the module’s content, the rationale for its approach, reflections on some of the keyassumptions of the rationale, and recommendations for others wanting to implement a similarly-styled ethics assignment.Most Engineering Economy instructors would probably agree that these courses are well-suitedfor reaching large numbers of students due to their cross-disciplinary nature and are also well-suited to discussing professional ethics because of their connection to the world of

Conference Session

Engineering Economics New Frontiers

Collection

2015 ASEE Annual Conference & Exposition

Authors

Simon Thomas Ghanat P.E., The Citadel; Kenneth Brannan, The Citadel; Ronald W. Welch, The Citadel; Kevin C Bower P.E., The Citadel

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

Page 26.377.6learners with the conceptual information, the verbal learners with explanations and derivations offormulas, and the sequential learners with the logical flow of engineering economy topics. Forthe global learners, the presented material was always linked to previous and future material inthe course and  to  the  students’  personal  experiences. Following the mini lecture, hands-on smallgroup problem solving was employed to assist both the active and sensing learners with theengineering economy concepts. The time value of money concept was applied to both real-lifeengineering projects and  student’s  personal  finance  decisions such as student loans, car loans,credit cards, etc. Daily quizzes (individual and team) were