June 15, 2019
June 15, 2019
June 19, 2019
Engineering students typically learn the basics of engineering economics through an introductory Engineering Economics course. Such courses do cover the basic financial modeling and analysis techniques, however they don’t provide an understanding of the complexity of economic analysis of real life situations. In particular, the financial analysis of public sector projects necessitates financial modeling based on incomplete data and multiple selection criteria along with flexible or diffuse financial frameworks. The costs in these projects are real while the benefits may be tangible and/or intangible which makes decision making very difficult. Teaching such topics in a traditional class room lecture setting may not be best suited to achieve the desired educational outcomes. We propose that adding economic analysis to a thesis-based project is a better way to learn engineering economics. This is demonstrated by a case study involving analysis of a public sector project that offers sufficient flexibility to the students and allows them to come up with viable economic solutions. The student research effort is expected to enhance and enrich the guided learning process. This paper presents some important results from this thesis research work. Preliminary results support the hypothesis that including economic analysis in a thesis option constitutes a better way to engage students in their learning process, and for enhancing their comprehension and interest in engineering economics of government projects.
Manohar, P. A., & Almutairi, F. S. (2019, June), A Thesis-based Option for Enhancing Pedagogy in Engineering Economy at the Graduate Level Paper presented at 2019 ASEE Annual Conference & Exposition , Tampa, Florida. https://peer.asee.org/32013
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