Conference Session

Engineering Economy Division (EED) Technical Session

Collection

2023 ASEE Annual Conference & Exposition

Authors

Neal A. Lewis, University of Nebraska - Lincoln; Ted Eschenbach, TGE Consulting

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Diversity

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Engineering Economy Division (EED)

, period of retirement, and averageage at death (career and retirement planning).Mortality data from the National Vital Statistics System show large differences in the“expectation of life at age x.” The tabulated value at age 22 for a male American Indian orAlaska Native is 65.3 years and for a female Asian it is 21.1 years longer at 86.4 years.Differences like these are substantial, of major social importance, and highly relevant forpersonal financial planning by students—now and as retirement nears.We assert that engineering economy courses should include the use of relevant demographicbased information for personal financial decision making. Students will begin making financialdecisions regarding insurance, investing, and retirement planning

Conference Session

Engineering Economy Division (EED) Technical Session 1

Collection

2024 ASEE Annual Conference & Exposition

Authors

Ted Eschenbach, University of Alaska ; Neal A. Lewis, University of Nebraska

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Diversity

Tagged Divisions

Engineering Economy Division (EED)

pension. Socialsecurity is the centerpiece of retirement planning for most Americans. Engineering economystudents have the tools to analyze this aspect of their futures. Engineering economy professorshave the responsibility for helping students to achieve mastery of the basics for retirementfinancial planning. The rate of return on our tax investment is demonstrated as a real example oftime value of money and personal financial planning.While the analysis is applicable to the U.S. social security system as it is defined today, ourmethodology is applicable to other defined benefit systems. The approach is also applicableinternationally, as most countries have some form of public pension system.IntroductionEngineering economy texts and courses

Conference Session

Engineering Economy Division (EED) Technical Session 1

Collection

2023 ASEE Annual Conference & Exposition

Authors

Kate D. Abel, Stevens Institute of Technology (School of Engineering and Science)

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Diversity

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Engineering Economy Division (EED)

(50 to 100 mins) Assignments Week PM - Project Initiation, Integration and Change Management – 1 fundamental management Understanding and incorporating steps Stakeholder needs analysis, etc Week PM - Managing Systems and Trends and Benefits in Project Management HW -1 PM 2 IT Projects – Less rework and Improved productivity through defined roles and responsibilities and resource management Week PM – Strategic Planning, Project Life Cycles – Improved Project Cost HW 2 - PM 3 Project

Conference Session

Engineering Economy Division (EED) Technical Session 1

Collection

2024 ASEE Annual Conference & Exposition

Authors

Tamara R. Etmannski, University of British Columbia

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Diversity

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Engineering Economy Division (EED)

thisanalysis is presented here along with representative student comments, and discussed. The fulllist of survey responses and coding notes can be made available to any interested party.3. Results3.1 Material DevelopmentThe early planning stages of the project included rethinking the traditional textbook format, andopting instead to produce annotated and comprehensive slides designed to function as both studyaids for students and instructional tools for educators. The foundational concepts of engineeringeconomics were systematically organized into twelve distinct chapters, each represented by aPowerPoint slide deck. The size of these decks varied, spanning from 20 to 40 slides, with anaverage of 30 slides and a median of 29. Each deck included a title

Conference Session

Engineering Economy Division (EED) Technical Session 1

Collection

2023 ASEE Annual Conference & Exposition

Authors

Robert P. Leland, Oral Roberts University

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy Division (EED)

more about the role of technology. Both the internet and wirelesscommunication have been enabling technologies, especially in funds transfers. Students alsorequested fewer restrictions on the choice of loans. This might be accomplished by removing therequirement that they complete the loan amount. That would enable them to invest in largerloans.Future PlansIn the future I plan to start this project earlier in the semester, so the students can get morefeedback on the repayment of their loans. It would also be helpful for the students to conductsome research on the borrower’s country, especially with regard to the economic conditionsaffecting potential borrowers. I also plan to include more connections to cash flow analysis.DiscussionThis