Conference Session

New Topics in Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

Leslie Pagliari, East Carolina University; Gene Dixon, East Carolina University; Paul Kauffmann, East Carolina University; Merwan Mehta, East Carolina University

Tagged Divisions

Engineering Economy

them.Engineering Economy in Professional Master’s ProgramsProfessional masters students such as those in MS TS, MS OS, and MEM programs offer aunique perspective to educators. Since most of these students are working professionals in theDE program, they have strong opinions regarding the value of course topics for the near term inthe current job, and in the long term for their professional and personal development. As aresult, they judge the quality of course content, in large part, based on the likelihood ofapplication. For many students, these graduate programs will be the last formal educational step.Remaining career development will consist of non-credit and continuing education courses.Consequently, it becomes the instructor’s challenge to provide

Conference Session

Engineering Economy Division Technical Session

Collection

2013 ASEE Annual Conference & Exposition

Authors

Lizabeth T Schlemer, California Polytechnic State University

Tagged Divisions

Engineering Economy

Paper ID #6124Project based learning in engineering economics: Teaching advanced topicsusing a stock price prediction modelingDr. Lizabeth T Schlemer, California Polytechnic State University Page 23.991.1 c American Society for Engineering Education, 2013 Project based learning in engineering economics: Teaching advanced topics using a stock price prediction modelAbstract: A graduate level advanced engineering economics class taught at CaliforniaPolytechnic State University, San Luis Obispo, includes a thorough

Conference Session

Integrating Engineering Economy into Curricula

Collection

2014 ASEE Annual Conference & Exposition

Authors

Joseph Wilck IV, East Carolina University; Paul C. Lynch, The Pennsylvania State University, University Park, PA; Paul J. Kauffmann P.E., East Carolina University

Tagged Divisions

Engineering Economy

law.Motivation and IntroductionThere is enormous pressure on curricula at public universities from legislatures to reduce thenumber of credits for graduation, while increasing graduation and retention rates and maintaininga substantial level of general education (or similarly named programs, such as: core curriculum,foundation curriculum, etc.) for the graduate. A reduction in credit hours is particularly difficultfor engineering due to ABET accreditation requirements and employer expectations forengineering competency. Typically, the general education of a baccalaureate graduate includes anumber of credits in composition, humanities, social sciences, physical sciences, mathematics,and physical education. Engineering courses are not considered

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

students across various disciplines and levels. We confirmed our hypotheses that realoptions are not being taught at the undergraduate level due to the material being advanced andthat many engineering economy educators are not well prepared to teach the topic. We comparethese results with those that teach traditional sequential decision-making techniques, such asdecision-trees, and methods of dealing with uncertainty, such as sensitivity analysis andsimulation. A recommendation is made regarding what methods should be included inundergraduate and graduate coursework in engineering economy.IntroductionReal options analysis is a tool intended to value flexibility in future choices. The theoreticalfoundation for real options begins with options on

Conference Session

Engineering Economy Division Technical Session 1

Collection

2019 ASEE Annual Conference & Exposition

Authors

Priyadarshan A. Manohar, Robert Morris University; Fahad Saad Almutairi, King Fahd Security College

Tagged Divisions

Engineering Economy

College, SA Project Manager Master of Engi- neering Management, USA Bachelor of Mechanical Engineering, SA c American Society for Engineering Education, 2019Work In Progress: A Thesis Based Option for Enhancing Pedagogy in Engineering Economyat the Graduate LevelAbstractEngineering students typically learn the basics of engineering economics through an introductoryEngineering Economics course. Such courses do cover the basic financial modeling and analysistechniques, however they don’t provide an understanding of the complexity of economic analysisof real life situations. In particular, the financial analysis of public sector projects necessitatesfinancial modeling based on incomplete data and multiple selection

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

companies. Dr. White has over 20 journal publications and more than 50 articles in conference proceedings. Some of Dr. White’s journal publications include The Engineering Economist, Computers and Industrial Engineering, The International Journal of Modeling and Simulation, and The International Journal of Production Research. His professional affiliations include or have included IIE, ASEE, and SME. c American Society for Engineering Education, 2017 Using Programming and Simulation as a Research Tool in a Graduate Capital Budgeting CourseAbstract: Effectively incorporating research elements into the classroom continues to be animportant aspect of graduate engineering

Conference Session

Engineering Economy: Beyond the Classroom

Collection

2007 Annual Conference & Exposition

Authors

J. Cunha, University of Alberta

Tagged Divisions

Engineering Economy

AC 2007-2391: A CASE STUDY ON THE USE OF SEMINARS IN ENGINEERINGCOURSES - A COMPARISON BETWEEN A GRADUATE AND ANUNDERGRADUATE COURSEJ. Cunha, University of Alberta Page 12.11.1© American Society for Engineering Education, 2007 A Case Study on the Use of Seminars in Engineering Courses A Comparison Between a Graduate and an Undergraduate CourseAbstractThis paper presents comparison of results obtained in two distinct courses, one graduate andone undergraduate, where engineering economy was one of the main components of thecourse.The graduate course is the advanced version of the undergraduate course. In both it was usedthe same methodology of assigning projects that

Conference Session

Innovations in the IE Curriculum

Collection

2012 ASEE Annual Conference & Exposition

Authors

Jane M. Fraser, Colorado State University, Pueblo; Abhijit Gosavi, Missouri University of Science & Technology

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

topics? We will also present an analysis of howthese topics are related to the overall philosophy of systems engineering.We also analyze the content of Master’s degree programs in systems engineering, primarily inthe US, that offer degrees with the word ―systems‖ in the title, focusing on the 25 largestprograms, which accounted for 64% of the graduates of such programs in 2010. The programshave much in common, but differ in their focus on different industries and on different tools.Some programs seem to have been designed to meet the needs of specific industries and even ofspecific companies. We use these findings to support conclusions about the nature of systemsengineering education and to make recommendations to industrial engineering

Conference Session

Pedagogical Advancements in Engineering Management

Collection

2012 ASEE Annual Conference & Exposition

Authors

S. Jimmy Gandhi, Stevens Institute of Technology; Brian Sauser, Stevens Institute of Technology; Brian E. White, Complexity Are Us - Systems Engineering Strategies; Alex Gorod, Visiting Fellow, University of Adelaide; Vernon Ireland, University of Adelaide

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

management from Stevens Institute of Technology. Prior to his graduate studies, he held a research analyst position at Salomon Smith Barney. He is a former Robert Crooks Stanley Doctoral Fellow in engineering management at Stevens Institute of Technology, with research interests in the area of management of complex systems. He isthe founder of SystemicNet, LLC, in New York and a Visiting Fellow at the University of Adelaide inAustralia.Prof. Vernon Ireland, University of Adelaide Director of Project Management Page 25.191.1 c American Society for Engineering Education, 2012 Application of Case Studies to Engineering

Conference Session

Innovative IE Curricula

Collection

2013 ASEE Annual Conference & Exposition

Authors

Susan L. Murray, Missouri University of Science & Technology; Terri M. Lynch-Caris, Kettering University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

that is not captured in the FE Examtopic list. Additional domains and/or topics are often added at the discretion of the program.Such additional areas of expertise may offer a uniqueness that sets the program apart fromothers. However, if there is more uniqueness than foundational topics, the program may considerchanging the title of the program to something that more appropriately fits their unique offerings.The first step in the review is to identify all core and elective courses that reside within thedepartment. It may be appropriate to include core courses from other departments when they areprerequisite to the discipline-specific knowledge core. For example, a first course in probabilityand statistics may be part of the general education

Conference Session

Industrial Engineering Division Tech Session 2, IE-ing the Classroom

Collection

2017 ASEE Annual Conference & Exposition

Authors

Dia St. John, University of Arkansas; Eric Specking, University of Arkansas

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

postsurveys to measure the camp success. This resulted in a 10% increase in participant interest inindustrial engineering, a 50% increase in participant understanding of industrial engineering, anda 12% increase in participant excitement for industrial engineering.1. IntroductionThe National Center for Educational Statistics states that 10.7% of the 2009 U.S. degreesawarded were in STEM fields.[1] The U.S. News/Raytheon STEM Index demonstrated a recentupward trend in the number of STEM graduates, but a shortage of qualified local STEMapplicants for employers still exist.[2] Arkansas had the second lowest percentage of STEMdegrees awarded in 2009 (8.5%), and this percentage fell from 2001 levels by 20.7%.[1] InArkansas, the College of Engineering has

Conference Session

Engineering Economy Division Technical Session 1

Collection

2018 ASEE Annual Conference & Exposition

Authors

Erick Jones, University of Texas, Arlington; Billy Gray, Tarleton State University

Tagged Divisions

Engineering Economy

incurs negatively affects that student’s performance [2]. Students are forced tofind other means to augment their income so they often work, take out personal loans, andsometimes are forced to leave school for some time period to save money for school. Thisextends their stay in the university system and puts them at a greater risk of not graduating fromtheir programs [2], [14].Educators also care that their students do well. It affects the university’s prestige by having highperforming students who do not carry a high debt after completing their degree that arecompetitive and sought after in the work force. Having students with high debt impacts manyaspects of the university including recruiting, admissions, and the general perception of

Conference Session

Engineering Economy Division Technical Session 2

Collection

2016 ASEE Annual Conference & Exposition

Authors

Jerome P. Lavelle, North Carolina State University

Tagged Divisions

Engineering Economy

unquestioned, yet there exists no formal mechanism for programs to share data and information on processes for the purpose of improving engineering higher education and student learning on the aggregate. As programs look at the “cost versus effort” tradeoff of assembling data for inclusion in their self study reports (SSRs) it makes sense to create as system whereby programs can share and access data.  (2) Standardized, well understood and applied: ABET’s EC2000 general and program criteria are well vetted, articulated and utilized. For 20 years programs have produced evidence in support of compliance with the required criterion in program self-study reports2. These

Conference Session

Engineering Economy Education

Collection

2011 ASEE Annual Conference & Exposition

Authors

Heather Nachtmann, University of Arkansas; Kim LaScola Needy, University of Arkansas; Emily M. Evans, University of Arkansas

Tagged Divisions

Engineering Economy

is your academic rank? What is the discipline of your primary appointment? How many years have you been an educator at the college level? How many years of experience do you have teaching Engineering Economy? Check all of the areas below that you have Engineering Economy experience in: Do graduate students ever take full responsibility for teaching the Engineering Economy course in your department? Approximately what percent of the time do graduate students take full responsibility for teaching this course? What is the highest degree that your department awards? Course Description How many offerings of the Engineering Economy course are taught in your department each

Conference Session

Engineering Economy Division Technical Session 3

Collection

2017 ASEE Annual Conference & Exposition

Authors

Ted Eschenbach, TGE Consulting; Jerome P. Lavelle, North Carolina State University; Neal A Lewis, University of New Haven

Tagged Divisions

Engineering Economy

. Of particular value to students and recent graduates areeducation credits, deductible expenses (including student loan interest), and the after-tax cost ofa college education. Progressive income tax tables provide a mid-course reminder of how andwhen to use marginal and average rates.There are a number of topics that could be considered optional for a standard course. Budgetingmay seem simple, but it is a new concept for many students. Of interest to some will besubsidized loans (such as the Stafford and Perkins loans), how insurance works, and thedifference between term and whole life insurance. While time may not permit in-depthdiscussion of these topics, it is useful reading and supplemental material.Additional Considerations: Technology

Conference Session

Advances in Engineering Economy Pedagogy

Collection

2009 Annual Conference & Exposition

Authors

Abhijit Gosavi, Missouri University of Science and Technology

Tagged Divisions

Engineering Economy

AC 2009-242: TEACHING REVENUE MANAGEMENT IN AN ENGINEERINGDEPARTMENTAbhijit Gosavi, Missouri University of Science and Technology Page 14.1149.1© American Society for Engineering Education, 2009 Teaching Revenue Management in an Engineering DepartmentAbstract: Revenue management is one of the newly emerging topics inthe area of systems engineering, operations research, industrialengineering, and engineering management. While it is not expected tobecome a part of the core curriculum in any of these disciplines in the nearfuture, it is being taught in many universities in the business schools thathave programs in operations research. Since the ideas

Conference Session

Engineering Economy Division Technical Session 2

Collection

2017 ASEE Annual Conference & Exposition

Authors

Omar Ashour, The Pennsylvania State University, The Behrend College; Faisal Aqlan, Penn State Behrend; Paul C. Lynch, Penn State Erie, The Behrend College

Tagged Divisions

Engineering Economy

, and engineering education. Dr. Lynch has been recognized by Alpha Pi Mu, IISE, and the Pennsylvania State University for his scholarship, teaching, and advising. He received the Outstanding Industrial Engineering Faculty Award in 2011, 2013, and 2015, the Penn State Industrial & Manufacturing Engineering Alumni Faculty Appreciation Award in 2013, and the Outstanding Advising Award in the College of Engineering in 2014 for his work in undergraduate education at Penn State. Dr. Lynch worked as a regional production engineer for Universal Forest Products prior to pursuing his graduate degrees. He is currently an Assistant Professor of Industrial Engineering in the School of Engineering at Penn State Erie, The

Conference Session

Curricula Innovations in Engineering Economics

Collection

2015 ASEE Annual Conference & Exposition

Authors

Letitia M. Pohl, University of Arkansas; Shelly Walters, University of Arkansas

Tagged Divisions

Engineering Economy

provided.Introduction/BackgroundVideos are a standard instructional element for most online courses, and as online education hasgrown, there has been a greater emphasis on defining best practices for video usage in online,live and hybrid delivery modes. Videos are used to deliver course content, provide illustrationsof the topics discussed, or possibly feature external subject matter experts or supplemental filmclips. The videos can be produced by the instructor of the course, be professionally produced(e.g., by the textbook publisher), or be drawn from publically-available sources, such asYouTube, the news media, or other websites. This paper explores the use of instructor-developedvideos to deliver course content. We categorize these videos as either

Conference Session

Innovations in the IE Curriculum

Collection

2012 ASEE Annual Conference & Exposition

Authors

Denise H. Bauer, University of Idaho, Moscow; Jessica L. Heier Stamm, Kansas State University; Lesley Strawderman, Mississippi State University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

interested in the freshman engi- neering experience and student self-efficacy related to capstone courses. Bauer’s educational background centers around human factors and ergonomics, and she is particularly interested in issues that concern the safety and comfort of middle school students. Her research has also included topics such as design for the seeing impaired, backpack safety of college students, safety of pedestrians, and ergonomics of industrial tools.Dr. Jessica L. Heier Stamm, Kansas State UniversityDr. Lesley Strawderman, Mississippi State University Page 25.98.1 c American

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 Economics New Frontiers

Collection

2015 ASEE Annual Conference & Exposition

Authors

Paul C. Lynch, Pennsylvania State University, University Park; Cynthia Bober, Penn State University; Joseph Wilck, East Carolina University

Tagged Divisions

Engineering Economy

andfinancial statements if they choose to complete a minor in business/ liberal arts. Students wouldhave limited exposure to these topics if they completed an engineering entrepreneurship minor.All of the industrial engineering students at Penn State must complete either macroeconomics ormicroeconomics as part of their general education course work in their freshman or sophomoreyear. Page 26.191.2Simply adding additional lecture material in the engineering economy course to cover the linkbetween engineering economic decisions and business planning, financial statements, financialaccounting, and stock value was only one part of addressing the needs of

Conference Session

Methods, Cases, and Directions

Collection

2012 ASEE Annual Conference & Exposition

Authors

Joseph C. Hartman, University of Florida

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

AC 2012-4293: INCORPORATING AND ASSESSING RISK ANALYSIS INUNDERGRADUATE ENGINEERING ECONOMY COURSESDr. Joseph C. Hartman, University of Florida Joseph C. Hartman is professor and Chair of Industrial and Systems Engineering. He received his B.S. in general engineering from Illinois and M.S. and Ph.D. in industrial and systems engineering from Geor- gia Tech. His teaching and research interests are in economic decision analysis and applied operations research. He is currently Editor of the Engineering Economist and is author of the textbook Engineering Economy and the Decision-Making Process. Page 25.758.1

Conference Session

Technology and Equipment to Improve IE Instruction

Collection

2012 ASEE Annual Conference & Exposition

Authors

Richard A. Pitts Jr., Morgan State University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

STEMeducation4. New government programs such as the National Robotics Initiative also highlight theneed for improvements in STEM education and the extent to which such improvements are tiedto the nation’s economic competitiveness in an increasingly technological, global economy5.At MSU, Robotics and Automation is taught in a course to provide an impetus for allowingstudents to learn the basic concepts of the organization and operation of microcomputer-basedmanipulators (i.e., robots)6. Various assignments and lab projects which consider topics such ascontrol systems planning, design and implementation planning, trajectory planning, andprogramming are key elements for the Industrial Engineering (IE) students in the course. Whileutilizing the Industrial

Conference Session

Advances in Engineering Economy Pedagogy

Collection

2010 Annual Conference & Exposition

Authors

Paul Kauffmann, East Carolina University; Stephanie Sullivan, East Carolina University; Gene Dixon, East Carolina University; B.J. Kim, East Carolina University

Tagged Divisions

Engineering Economy

includes positions with Chicago Bridge and Westinghouse. General research interests focus on engineering management and related processes. Specific interests include the role of leaders and followers in the leadership process.B.J. Kim, East Carolina University BJ Kim is an assistant professor in the Department of Engineering at East Carolina University. He received a PhD in Industrial, Management Systems, and Manufacturing Engineering from the University of Nebraska – Lincoln. General research interests focus on decision support systems, information systems management, and human-machine interactions. Educational research interests include computer-aided interactive program development

Conference Session

Innovations in the IE Curriculum

Collection

2012 ASEE Annual Conference & Exposition

Authors

Heidi A. Taboada, University of Texas, El Paso; Jose F. Espiritu, University of Texas, El Paso

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

c American Society for Engineering Education, 2012 A Multi-Disciplinary and Multi-Institutional Approach to Prepare Industrial Engineers to Respond to Future Energy ChallengesAbstract There is a world-wide necessity to increase energy efficiency, finding new alternativesources of energy and assessing the environmental impacts of new renewable energytechnologies. Demand for professionals with sustainable energy knowledge is increasing, asemployers need graduates who can better respond to energy challenges in all professional andbusiness contexts. This demand will also create green-collar jobs in the industrial sector and innew technology fields. In light of these crucial needs

Conference Session

Innovation in Teaching Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

J. Cunha, University of Alberta

Tagged Divisions

Engineering Economy

on Monte Carlo simulation.ConclusionsA graduate course was developed with the main objective of allowing engineering graduate Page 11.398.7students, mainly the ones working in natural resource areas such as mining and petroleum, toincorporate in their education economic and decision analysis tools that are considered extremelyimportant for modern professionals.The course carries a review on the basics of engineering economy and an advanced treatment ofdecision analysis topics. An individual project developed by the student is the highlight of thecourse and allows a truly interface between the conventional technical knowledge and economicand

Conference Session

Frontiers in Engineering Economy

Collection

2010 Annual Conference & Exposition

Authors

Joseph Hartman, University of Florida; Jennifer Smith, University of Florida

Tagged Divisions

Engineering Economy

AC 2010-1113: DEVELOPING AN ONLINE UNDERGRADUATE ENGINEERINGECONOMY COURSEJoseph Hartman, University of Florida Joseph Hartman is Professor and Chair of Industrial and Systems Engineering at the University of Florida. He is a graduate of the University of Illinois and Georgia Institute of Technology and currently serves as Editor of The Engineering Economist.Jennifer Smith, University of Florida Jennifer Smith is an Instructional Designer in the Center for Instructional Technology and Training at the University of Florida. Page 15.383.1© American Society for Engineering Education, 2010

Conference Session

Innovations in Teaching Engineering Economy

Collection

2014 ASEE Annual Conference & Exposition

Authors

Gillian M. Nicholls, University of Alabama, Huntsville; Neal A Lewis, University of Bridgeport; Ted Eschenbach P.E., University of Alaska Anchorage

Tagged Divisions

Engineering Economy

. A student that struggles with these concepts is atan increasing disadvantage as the course progresses and new material builds upon these concepts.A student that is less skillful at parsing word problems is further disadvantaged.Success and progress through the engineering economy and other time value of money courses isthe focus of this paper. However many of our points are also relevant to the larger problem ofthe efficient progression of engineering students through the STEM pipeline which is of greatimportance to educators. The supply and quantity of STEM graduates has a direct impact on thecompetitiveness of a nation 1. Students that perform poorly in a course or must repeat it are at agreater risk of dropping off the STEM track and may

Conference Session

Pedagogical Advancements in Engineering Management

Collection

2012 ASEE Annual Conference & Exposition

Authors

Kathryn D. Abel, Stevens Institute of Technology; Anirban Ganguly, Stevens Institute of Technology

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

be run inSpring 2012, may not be exhaustive, nor even the best set. However, it is intended that weeklyfeedback will be sought from the students to determine if the students think they are learningimportant aspects about EM through each case study. Feedback will be reviewed andsummarized in Summer 2012, to ensure that the beta version of the Introductory EM course setfor spring 2013, is truly accomplishing the goal of educating, in an interesting and interactiveway, the next generation of Engineering Managers. Hopefully, the sophomores in spring 2013(and 2012 if we’ve done it right) will not only come to know the varied aspects of the EMdiscipline, but will understand there can often be alternative ways to solve a problem, and

Conference Session

Innovations in Teaching Engineering Economy

Collection

2014 ASEE Annual Conference & Exposition

Authors

Paul J. Kauffmann P.E., East Carolina University; Joseph Wilck IV, East Carolina University

Tagged Divisions

Engineering Economy

potentially helping to solve arange of higher education problems. Strategically, administrators see online courses as a costeffective learning environment, especially in comparison with large lecture-style courses.Politicians on the other hand see MOOCs or online courses in general as a solution toovercrowding and a potential tool to reduce the need for new buildings and facilities. 1The literature is full of studies which can support a variety of pro and con views on theimplications and effectiveness of online education. For example, a three-year field study ofseventeen courses in an undergraduate degree in information systems, compared the process andoutcomes of three modes of delivery: totally online via asynchronous learning networks,traditional