Conference Session

Elements of decision making in engineering economics education

Collection

2025 ASEE Annual Conference & Exposition

Authors

Robert J. Rabb P.E., Pennsylvania State University; Paul Mittan, Pennsylvania State University; Ted Graef, Pennsylvania State University

Tagged Divisions

Engineering Economy Division (EED)

Paper ID #48463Professional Skill Development in Engineering Economics and Project ManagementDr. Robert J. Rabb P.E., Pennsylvania State University Robert Rabb is the associate dean for education in the College of Engineering at Penn State. He previously served as a professor and the Mechanical Engineering Department Chair at The Citadel. He previously taught mechanical engineering at the United States Military Academy at West Point. He received his B.S. in Mechanical Engineering from the United Military Academy and his M.S. and PhD in Mechanical Engineering from the University of Texas at Austin. His research and

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)

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy Division (EED)

topics and over the decades there have been changes to what facultyconsider important. As such, Stevens Institute of Technology recently modified its curriculumfrom a 4 credit engineering economics course to a 2 credit engineering economics course, whichmust also instruct Project Management. This new 2 credit course will be taught for the first timein the 23-24 academic year. This article discusses the modifications undertaken to make this newcourse a reality.Background – Engineering EconomicsEngineering Economics has been part of the Fundamentals of Engineering Exam, the precursorto the Professional Engineers Exam, for decades and currently comprises between 3 to 12questions on the exam (NCEES for current information and Lavelle for historical

Conference Session

Engineering Economy Division (EED) Technical Session 1

Collection

2023 ASEE Annual Conference & Exposition

Authors

Huseyin Sarper, Old Dominion University; Nebojsa I Jaksic P.E., Colorado State University - Pueblo

Tagged Divisions

Engineering Economy Division (EED)

), the M.S. in industrial engineering (1992), and the Ph.D. in industrial engineering from The Ohio State University (2000). Currently, he is a Professor at Colorado State University-Pueblo. Dr. Jaksic has over 100 publications and holds two patents. His interests include robotics, automation, and nanotechnology. He is a licensed PE in the State of Colorado, a member of ASEE, and a senior member of IEEE and SME. ©American Society for Engineering Education, 2023 Investment Exercise for First-Year Engineering StudentsAbstractThis paper describes a long running individual student project aimed to teach basic engineeringeconomy concepts to the first-year engineering students. Engineering

Conference Session

AI Integration in Engineering Economy Course

Collection

2025 ASEE Annual Conference & Exposition

Authors

Hamed Samandari, University of Massachusetts Dartmouth

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy Division (EED)

(UMD) is 3credit hour course designed to equip students with the knowledge and tools to evaluateengineering projects using economic principles. The course includes two 1 hour and 15 minuteslectures each week. The course emphasizes time value of money, rate of return evaluation, anddecision-making techniques such as present worth analysis and breakeven analysis similar tomicro economic courses. In addition to satisfy university study requirements at UMD, it includestopics on the global considerations on engineering decisions and introduces students to thefundamentals of international trade, with a focus on trade policies, exchange rates, and globalmarket dynamics. Students engage in active learning, including quizzes, problem-solvingassignments

Conference Session

Engineering Economy Division (EED) Technical Session 1

Collection

2024 ASEE Annual Conference & Exposition

Authors

Tamara R. Etmannski, University of British Columbia

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy Division (EED)

learning, team-projects and writing-based assignments, with special focus on learning through real-world applications ©American Society for Engineering Education, 2024 Creation of Open-Source Course Materials for Engineering Economics Course with Help from a Team of Students - Lessons Learned Tamara R. Etmannski Assistant Professor of Teaching, Department of Civil Engineering, The University of British Columbia, Vancouver, BC, Canada tamara.etmannski@ubc.ca1. IntroductionIn accordance with program accreditation prerequisites [1], engineering students across Canadaare mandated to undertake an Engineering

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)

demonstrated as a way to combat poverty and elevate the status of women byMuhammed Yunus and the Grameen Bank. Yunus was awarded the Nobel Prize for his efforts.Since then a large number of microfinance organizations have arisen. More recently, internetbased microfinance has broadened the participation of both borrowers, who may live in remoteareas, and lenders, who may now be private individuals, investing through organizations such asKiva or Zidisha.History of MicrofinanceMicrofinance was practiced as early as 1720 as a means to alleviate poverty in Ireland, includingbefore and after the famine [1]. Microfinance proliferated after the success of the Grameen Bankin Bangladesh. Started as a project in 1976 by Yunus, the Grameen bank has grown to

Conference Session

AI Integration in Engineering Economy Course

Collection

2025 ASEE Annual Conference & Exposition

Authors

Raymond L. Smith III, East Carolina University; Ricky T Castles, East Carolina University; Emily Fuller Sondergard

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy Division (EED)

the judgment, adaptability, and professional integrity needed to navigate complex,real-world decisions.Engineering Economy offers a unique platform for introducing students to the ethical dimensions ofprofessional practice, as it naturally integrates technical, financial, and societal trade-offs. Embeddingtools like the Engineering Ethics Coach in such foundational courses not only supports students’ ethicaldevelopment early in their education but also models how AI can be responsibly leveraged to enhancecritical thinking. This approach may be extended to other contexts—such as design courses, sustainability,or capstone projects—where ethics and decision-making intersect in meaningful ways.References[1] Institute of Electrical and

Conference Session

Elements of decision making in engineering economics education

Collection

2025 ASEE Annual Conference & Exposition

Authors

Tamara R Etmannski, University of British Columbia, Vancouver; Mohosina Jabin Toma, University of British Columbia, Vancouver; Johan Foster, University of British Columbia, Vancouver

Tagged Divisions

Engineering Economy Division (EED)

, especially considering the relatively static nature of the content. In response, educatorsare increasingly exploring OER as a viable alternative to improve access and learning equity.Despite growing awareness of OER, their adoption in engineering remains limited. This paperpresents the design, implementation, and evaluation of an open-source instructional packagedeveloped to support Engineering Economics instruction at UBC. The project aimed to increaseaccessibility, enhance student engagement, and reduce instructional inconsistencies acrossdepartments. The study builds on prior pilot work and aimed to evaluate both the instructionalefficacy and institutional viability of the OER materials by looking at how instructors perceiveuse of OER in

Conference Session

Engineering Economy Division (EED) Technical Session

Collection

2023 ASEE Annual Conference & Exposition

Authors

Neal A Lewis, University of Nebraska - Lincoln; Jena Shafai Asgarpoor, University of Nebraska - Lincoln; Ipek Bozkurt

Tagged Divisions

Engineering Economy Division (EED)

changesnor do they recommend additional CIP codes. [12]Action Items in ProcessSuccessful completion of this project will require time, patience, and strategy. Our research hasmade it apparent that the Federal agencies are not used to dealing with faculty members. As anexample, in our correspondences, the current NCES Survey Director for CIP codes wrote, “SinceI have been involved the with CIP (2007), no one has expressed concern over EngineerManagement being included in Series 15” [7]. Neither are we, as faculty, accustomed tointeracting with NCES.The following is a list of action items that we believe are necessary to see this project to asuccessful completion.Desired OutcomeThe goal of this initiative is to reverse the CIP 2000 decision and return

Conference Session

Elements of decision making in engineering economics education

Collection

2025 ASEE Annual Conference & Exposition

Authors

Gbetonmasse B Somasse, Worcester Polytechnic Institute

Tagged Divisions

Engineering Economy Division (EED)

education, accreditationbodies like the Accreditation Board for Engineering and Technology (ABET) encourage theintegration of economic considerations throughout the engineering curriculum, suggesting thateconomic principles and analysis may be incorporated into various courses and projects forengineering students. Programs such as civil engineering include an explanation of concepts andprinciples in project management and engineering economics in student outcomes [1]. Thecurriculum must explain some, but not necessarily all, of the key concepts and principles, andthere is no obligation to assess students’ ability to explain the key concepts and principles.Most undergraduate engineering programs introduce economics through a complete course

Conference Session

Engineering Economy Division (EED) Technical Session

Collection

2023 ASEE Annual Conference & Exposition

Authors

Ming Li, Beijing Foreign Studies University; Min Zhao, Graduate School of Education, Beijing Foreign Studies University

Tagged Divisions

Engineering Economy Division (EED)

teachers always are expert in theirfields, can develop research projects, and can design courses based on knowledge inthe subject area. However, this organizational culture is difficult to effectively satisfythe EC2000. Under the background of program accreditation, engineering teacherbegin to pay more attention to student learning outcome at the program level.Teachers must work together as a team more than ever. A successful program willhelp shape an inclusive and equitable environment. In small programs, teachers canwork as a whole. In larger programs, the dialogue between teachers will becomeincreasingly complex. However, with sufficient and diverse teacher participation,guided by an evaluation committee, this dialogue can be effective and have

Conference Session

Elements of decision making in engineering economics education

Collection

2025 ASEE Annual Conference & Exposition

Authors

Hartanto Wibowo, Iowa State University of Science and Technology; Jon Matthews Rouse

Tagged Divisions

Engineering Economy Division (EED)

coursework,and broadening the students’ perspective.IntroductionAlthough the course title might vary, engineering economics is a common component of manyengineering curricula across the United States. The topics in engineering economics aresometimes combined with topics in professional ethics and licensure in a semester-long courseoffering. In the ABET accreditation criteria, two of the seven student outcomes are related toeconomic issues [1]. Furthermore, for a civil engineering program, the curriculum must includebasic concepts in project management and business [1], and engineering economics is typicallythe first course to introduce the principles of microeconomics to civil engineering students if theyhave not taken an introductory course in

Conference Session

AI Integration in Engineering Economy Course

Collection

2025 ASEE Annual Conference & Exposition

Authors

Dani Fadda, University of Texas at Dallas; Oziel Rios, University of Texas at Dallas; P.l.stephan Thamban

Tagged Divisions

Engineering Economy Division (EED)

Teaching Excellence Award, the Outstanding Undergraduate Teaching Award from UTD’s Jonsson School, and the UT System Regent’s Outstanding Teaching Award.Dr. P.l.stephan Thamban, Dr. Thamban is an associate professor of instruction in the Mechanical Engineering department at the University of Texas at Dallas who contributes to the teaching mission of the department. He brings with him more than a decade long teaching experience and teaches foundational, introductory ME undergraduate courses and advanced mathematics courses for undergraduate and graduate students. He values and incorporates project-based learning components in undergraduate courses. ©American Society for Engineering

Conference Session

AI Integration in Engineering Economy Course

Collection

2025 ASEE Annual Conference & Exposition

Authors

Billy Gray, Tarleton State University; Gloria Margarita Fragoso-Diaz

Tagged Divisions

Engineering Economy Division (EED)

assessment intoChatGPT that contains the student’s name, UIN, and/or other personally identifiable information,is this a FERPA violation? Since it is not always clear about what information is beingdatabased, could someone in the future tie the assignment information to an IP address and beginputting together how specific people think on specific topics? Privacy risks with ChatGPT havealready been noted [23, 24]. In a recent study, [23] found that in addition to user informationprovided upon creating an account, “information that users type into the chatbot itself; andidentifying data it pulls from users’ devices or browsers, like IP addresses and locations” are keptby the service.Methodology:The methodology for this project is broken up into

Conference Session

Engineering Economy Division (EED) Technical Session 1

Collection

2023 ASEE Annual Conference & Exposition

Authors

Daniel B. Oerther, Missouri University of Science and Technology

Tagged Divisions

Engineering Economy Division (EED)

engineers toexpand professional practice into areas such as financial instruments – like insurance or bonds –that may be leveraged to offer a layer of financial security to support increased risks in physicalsecurity [8]. Similarly, environmental engineers who work on humanitarian projects such asimproving access to drinking water and sanitation in developing countries benefit from animproved understanding of return on investment as they partner with communities who need tomake difficult decisions about the types of infrastructure that should be selected to supportcommunity health [9].Lessons learnedThe lessons learned through this study include: 1) integrating economics into the environmentalengineering classroom provides an authentic context to

Conference Session

Engineering Economy Division (EED) Technical Session

Collection

2023 ASEE Annual Conference & Exposition

Authors

Robert A. Baffour, University of Georgia; Nathaniel Hunsu, University of Georgia; Eliza A Banu, University of Georgia; Adel W. Al Weshah, University of Georgia; Barbara Norton McCord P.E., University of Georgia; Marguerite Carol Brickman, University of Georgia

Tagged Divisions

Engineering Economy Division (EED)

-assessment, such as offering extra credit orincorporating self-assessment results into the overall grading scheme as used in this study.A we continue to work on this topic, the following future works are in the pipeline: 1) investigatehow different teaching approaches affect self-assessment accuracy, 2) investigate the effect of self-assessment on overall performance, and 3) analyze how different groups of students (such as poorand good students) assess themselves.AcknowledgementsThis project is based upon work supported by the National Science Foundation under Grant No.DUE 1821023. Any opinions, findings, and conclusions or recommendations expressed in thismaterial are those of the author(s) and do not necessarily reflect the views of the

Conference Session

Elements of decision making in engineering economics education

Collection

2025 ASEE Annual Conference & Exposition

Authors

Matt Gordon, University of Denver; Daniel D Auger, University of Denver

Tagged Divisions

Engineering Economy Division (EED)

University of Waterloo in Canada. His background is primarily in biomechanics, tribology, mechanical design, materials and Systems Design. He is a former Vice President of R&D and Distinguished Engineering Fellow from DePuy Synthes, Johnson and Johnson where he worked for over 28 years both in the USA and the United Kingdom. Throughout his career Dan has architected multigenerational product platforms, lead projects, built strategy and delivered multiple medical device innovations from research and concept through to the market. He is an inventor with 30+ patents and an author on some 50+ publications. ©American Society for Engineering Education, 2025 When to Start Taking Social