Conference Session

Engineering Economy -- The Introductory Course

Collection

2008 Annual Conference & Exposition

Authors

Joseph Hartman, University of Florida

Tagged Divisions

Engineering Economy

of tactics in order to be efficient with my large class, as well as trying to promote alearning environment. From that information, I found the following to be most useful whenteaching the large class: • Detailed syllabus: The entire course was laid out on the syllabus, including daily lectures, dates of exams, and project due dates. This is clearly the benefit of having taught the course numerous times. It helped alleviate problems with absences before they were to occur (i.e., student travel for job interviews). • Homework: Homework was assigned weekly. From this set of problems, a subset was collected and a further subset (often only one problem) was graded (and the others were merely checked to

Conference Session

Engineering Economy -- Outside the Introductory Course

Collection

2008 Annual Conference & Exposition

Authors

William Peterson, Arizona State University

Tagged Divisions

Engineering Economy

involved in project analysisand justifications since graduating with a BIE degree in 1970. Since 1993, the author has beenteaching engineering economy on a regular basis in a variety of programs and for a variety ofaudiences at both the undergraduate and graduate level. During this time the author of this paperlist 58 different courses on his cv in programs as diverse as industrial engineering, engineeringmanagement, manufacturing engineering, industrial management, and technology management.During the past thirteen years, the author has regularly attended the annual ASEE conferencesand attended countless sessions. These sessions have been eye-opening and thought provokingand well worth the time to attend. At the same time it has educated this

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

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

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

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

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 Economy -- Outside the Introductory Course

Collection

2008 Annual Conference & Exposition

Authors

Peter Boerger, Engineering Economic Associates, LLC

Tagged Divisions

Engineering Economy

book in 19515. This model for the first time provided a completeworking model of the economy that could be used to explain how changes in one sector of theeconomy (e.g. growth in output or changes in productivity) would impact other sectors. To fitwith the analysis technique he was using, Leontief used linear relationships between inputs andoutputs (“production functions”) in each industry.Chenery, part of Leontief’s Harvard Economic Research Project created in 1948 to extend thework of his earlier input-output efforts, took on the task of producing better empirical productionfunctions using an engineering understanding of how inputs are transformed into outputs. For

Conference Session

Engineering Economy -- The Introductory Course

Collection

2008 Annual Conference & Exposition

Authors

Rajkamal Kesharwani, Virginia Polytechnic Institute and State University; Xiaomeng Chang, Virginia Polytechnic Institute and State University; Janis Terpenny, Virginia Polytechnic Institute and State University; william sullivan, Virginia Polytechnic Institute and State University

Tagged Divisions

Engineering Economy

expect that they will remember, integrate, synthesize andassimilate topics that have been ‘poured into their heads’ over the prior 3-4 years as they take ona capstone design project. Faculty teaching capstone design may introduce or reinforce a varietyof topics, such as engineering economy, that will support the design process and other learningobjectives that have not been covered earlier in the curriculum. The review of topics inpreparation for the FE exam may also be a priority in the senior year.While there are a number of excellent textbooks1-5 on engineering economy, and authors makeevery effort to improve these textbooks over time with added examples and exercises and newways of conveying concepts, these updates come every few years and