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

cost-related MHS problems Handling Systems (MHS) 2009  Apply computer programming skills in the development of MHS applications  Develop ability to determine which robots and other automated equipment are best for specific industrial applications  Program industrial robots for solving engineering-related problems IEGR 470 – Offered efficiently Industrial Robotics Spring  Develop knowledge to design basic robotic control systems and Automation 2010

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

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

Society for Engineering Education, 2012 A Review of Capstone Course Designs Used in Industrial Engineering ProgramsIntroductionWithin engineering curricula, capstone courses are an essential element of the undergraduateexperience. In capstone (or senior design) courses, seniors are able to use the knowledge gainedthroughout their studies to analyze a design problem. The capstone course is critical in ensuringthat students have the requisite knowledge and can integrate it effectively before embarking intothe field as engineering professionals. As such, the course also serves as an importantbenchmarking tool for engineering programs to ensure they are meeting program outcomes. Notonly are capstone courses

Conference Session

Innovative IE Curricula

Collection

2013 ASEE Annual Conference & Exposition

Authors

David Paul Sly, Iowa State University; Daniel P Bumblauskas, University of Missouri Harvard University; Adam R Carberry, Arizona State University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

Tech- nology & Innovation’s Department of Engineering. He earned a B.S. in Materials Science Engineering from Alfred University, and received his M.S. and Ph.D., both from Tufts University, in Chemistry and Engineering Education respectively. Dr. Carberry was previously an employee of the Tufts’ Center for Engineering Education & Outreach and manager of the Student Teacher Outreach Mentorship Program (STOMP). Page 23.553.1 c American Society for Engineering Education, 2013 Evaluation of Perceptual Changes in an Engineering Sales ProgramAbstractThis study presents

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

course. We outline currentinstructional techniques, discuss assignments given within each phase, and review the evaluationcriteria for each phase and assignment. We also discuss particular instructional challenges wehave observed that stem from the varied programming skills, comfort levels with EngineeringEconomy concepts, industry experiences, academic concentrations, and nationalities we find inthe classroom. Finally, we present a preliminary comparison of outcomes related to the qualityof simulation models observed after specific instructional techniques related to programmingwith VBA were modified.IntroductionIn this paper we discuss our approach to administering a semester-long project in a graduatecourse that focuses on Engineering Economy

Conference Session

Assessment and Accreditation in Engineering Management

Collection

2012 ASEE Annual Conference & Exposition

Authors

Amy K. Zander, Clarkson University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

one program area. This paper compares and contrasts the curricula in the sevenprograms that are ABET EAC accredited in the Engineering Management area alone in theUnited States and internationally, and relates those to the 2010-2011 ABET EngineeringManagement Program Criteria.Institutions with ABET EAC Engineering Management ProgramsThere are thirteen engineering management programs in the world that are currently accreditedby the Engineering Accreditation Commission (EAC) of ABET, Inc.2 These programs alongwith the year of their first accreditation are given in Table 12. The programs are at institutions infour different countries. The addition of programs outside of the United States has happenedonly recently, only announced since 2008. (A

Conference Session

Innovative IE Curricula

Collection

2013 ASEE Annual Conference & Exposition

Authors

Saylisse Davila, University of Puerto Rico, Mayaguez Campus; Viviana I. Cesani, University of Puerto Rico, Mayaguez Campus; Alexandra Medina-Borja, University of Puerto Rico at Mayaguez

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

Distinguished IE professor in 2003 and 2010, and as Distinguished Industrial Engineer for the Year 2010 by the College of Engineers and Land Surveyors of Puerto Rico.Dr. Alexandra Medina-Borja, University of Puerto Rico at Mayaguez Alexandra Medina-Borja earned her Ph.D. and M.S. in Industrial and Systems Engineering from Virginia Tech. and holds a Production Engineering degree from the Federal University of S˜ao Carlos in S˜ao Paulo, Brazil. Medina-Borja has concentrated her work in areas related to the effective design and analysis of service delivery systems. Her main research contribution has been to advance a model for the performance evaluation of nonprofit social services by adapting Data Envelopment Analysis formulations

Conference Session

Student Development and Assessment in IE Programs

Collection

2012 ASEE Annual Conference & Exposition

Authors

Terri M. Lynch-Caris, Kettering University; Jonathan Weaver, University of Detroit Mercy; Darrell K. Kleinke, University of Detroit Mercy

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

industry experience in the design and development of electro- mechanical systems. As a tenure-track faculty member of the UDM Mechanical Engineering Department, he has adopted a program of instruction that UDM has branded ”Faces on Design,” in which student project work is made more meaningful as students have the opportunity to see and experience the faces of real live clients. In the series of design courses he teaches, students design mechanical devices for use by disabled clients. In addition to academic work, Kleinke is a registered Professional Engineer and conducts seminars on innovation that are tailored to the needs of automotive engineers. Kleinke’s recent publication, ”Capstones Lessons to Prepare Students

Conference Session

Student Development and Assessment in IE Programs

Collection

2012 ASEE Annual Conference & Exposition

Authors

Yaseen Mahmud, Morgan State University; Masud Salimian, Morgan State University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

AC 2012-4172: ASSESSMENT OF STUDENT PERFORMANCES IN OP-ERATIONS RESEARCH CLASS DELIVERED BY AN INNOVATIVE AP-PROACHMr. Yaseen Mahmud, Morgan State University Yaseen Mahmud is a doctoral candidate in the Industrial and Systems Engineering Department at Morgan State University’s School of Engineering.Dr. Masud Salimian, Morgan State University Masud Salimian is a faculty member in the Industrial Engineering Department at Morgan State Univer- sity. He is the Interim Director of the Advanced Engineering Design lab and Center for Multimedia In- structional Design and Technology. His research interests are in optimization, simulation, manufacturing systems and processes, and engineering education

Conference Session

Student Development and Assessment in IE Programs

Collection

2012 ASEE Annual Conference & Exposition

Authors

Mahesh C. Aggarwal, Gannon University; Karinna M. Vernaza, Gannon University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

programs. He has been ME evaluator for ABET over the last 12 years.Dr. Karinna M. Vernaza, Gannon University Karinna Vernaza joined Gannon University in 2003, and she is currently an Associate Professor in the Mechanical Engineering Department. She earned her Ph.D. and M.S. in mechanical engineering from the University of Notre Dame. Her B.S. is in Marine Systems Engineering from the U.S. Merchant Ma- rine Academy. Her primary teaching responsibilities are in the solid mechanics and materials areas. She was awarded the 2012 ASEE NCS Outstanding Teacher Award. Vernaza consults for GE Transporta- tion and does research in the area of alternative fuels (biodiesel), engineering education (active learning techniques

Conference Session

Engineering Economy -- Outside the Introductory Course

Collection

2008 Annual Conference & Exposition

Authors

Peter Boerger, Engineering Economic Associates, LLC

Tagged Divisions

Engineering Economy

anddiscussion of the ten approaches listed above.Collaboration, of course, requires two parties, both of which want interaction, and if Swann isright collaboration may be difficult. But that need not stop engineering economists fromthinking through a research and scholastic program that would begin to develop a storehouse ofinformation useful to solving economics-related public policy problems. And there surely willbe some avenues for immediate interaction with the work of economists.8. Examples for Helping to Think Through an Engineering Economic Research AgendaThe work of Chenery was targeted toward building better models of the American economy andits industries. That is an important task for improving overall economic public policy decision-making

Conference Session

Innovative IE Curricula

Collection

2013 ASEE Annual Conference & Exposition

Authors

Masud Salimian, Morgan State University; Yaseen Mahmud, Morgan State University; Avis L. Ransom, Morgan State University School of Engineering

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

includes facilities related to industrial and manufacturing plantsthat are major sources of inefficient energy use.There is a wide distribution of job types and skill levels required to support the projected growthpotential. Meeting the growing needs of the EESS will require 2-year and 4-year collegeeducation, on-the-job training, apprenticeship programs, certificate programs and workshops. Inaddition to the jobs that require energy engineers, the trainers for most of the other jobs willrequire personnel with 4-year degrees. However in 2008 only 28 four-year colleges anduniversities stood out that offered programs in architecture, engineering, policy, planning orinterdisciplinary programs that were directly relevant to EESS. At that time they were

Conference Session

Improving IE Course Content

Collection

2012 ASEE Annual Conference & Exposition

Authors

Victoria C. P. Chen, University of Texas, Arlington; K.J. Rogers, University of Texas, Arlington; Andrea M. Graham, University of Texas, Arlington; John F. Dickson, University of Texas, Arlington; Stephen P. Mattingly, University of Texas, Arlington; Melanie L. Sattler, University of Texas, Arlington; Yvette Pearson Weatherton, University of Texas, Arlington

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

Professor at the University of Texas, Arlington, where she teaches courses and conducts research related to air quality and sustainable energy. Her research has been spon- sored by the National Science Foundation, Texas Commission on Environmental Quality, Luminant Power, and the Defense Advanced Research Projects Agency. She has published more than 60 peer- reviewed papers and conference proceedings. In 2010, she received UT Arlington’s Lockheed Martin Excellence in Engineering Teaching Award. She is a registered Professional Engineer in the state of Texas.Dr. Yvette Pearson Weatherton, University of Texas, Arlington Yvette Pearson Weatherton received her Ph.D. in engineering and applied science (environmental engi

Conference Session

Engineering Economy Division Technical Session 2

Collection

2017 ASEE Annual Conference & Exposition

Authors

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

Tagged Divisions

Engineering Economy

Paper ID #19204Does Knowing a Study’s Outcome Further Impact It’s Conclusion: A Class-room StudyDr. Kate D. Abel, Stevens Institute of Technology (School of Engineering and Science) Kate Abel serves as the as the Director of the Bachelor of Engineering in Engineering Management Program in the School of Systems and Enterprises at Stevens Institute of Technology. She holds a Ph.D. in Technology Management and Applied Psychology. She has held several professional service positions, including the President of the Engineering Management Division of the American Society for Engineering Education and the President of Epsilon Mu Eta

Conference Session

The Evolution of Engineering Economy

Collection

2007 Annual Conference & Exposition

Authors

Joseph Hartman, Lehigh University; David Enke, University of Missouri

Tagged Divisions

Engineering Economy

in financial engineering (e.g., Columbia,Cornell, Michigan, California-Berkeley, among others) or related areas such as analytical financeor computational finance. Numerous programs are also beginning to offer graduate certificates infinancial engineering (e.g., Missouri-Rolla, Stevens Institute of Technology), thereby testing thewaters for this growing field. These programs can be housed in an engineering school orprovided jointly with finance and mathematics departments. While financial engineeringeducation has generally been restricted to the graduate level, as it relies on higher-levelmathematics (stochastic calculus, partial differential equations, and stochastic programming, forexample), there are programs at the undergraduate level

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

Assessment and Accreditation in Engineering Management

Collection

2012 ASEE Annual Conference & Exposition

Authors

Maxwell Reid, Auckland University of Technology

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

knowledge and skills related to the ideas, principles, concepts, chief research methods and problem-solving techniques of a recognised major subject (or subjects, in the case of a double degree or a double major). 2. Demonstrate the skills needed to acquire, understand and assess information from a range of sources. 3. Demonstrate intellectual independence, critical thinking and analytic rigour.At the International Engineering Alliance workshops in Canada in June 2009, WashingtonAccord signatories affirmed that in all future reviews of Washington Accord (WA)signatories for compliance with the Accord, the exemplar graduate profile developed andapproved in 2009 would be applied and it was formally incorporated into the WA

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

education.Examples of How Case Studies Can Benefit Engineering Management EducationA simple Google search yields sources to numerous examples of case studies already utilized inengineering education. For example, MIT’s Engineering Systems Division is on the forefront ofeducating graduate students in complex and enterprise systems engineering. Many of their casestudies efforts are publically available.8 In addition, MIT’s System Design and Management(SDM) master’s degree program produces case studies.9 Similarly, doing a Google search forcase studies in engineering management yields another publically available resource.10 The Ste-vens Institute of Technology hosts a plethora of case studies and related material.11 There is moreon engineering case studies at

Conference Session

Engineering Economics Teaching Tools

Collection

2015 ASEE Annual Conference & Exposition

Authors

Shervin Zoghi, California State University, Fresno

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

able to understand. A survey by Lavelle, et al.1 displayed that fewerthan half of participants used effective educational practices (i.e. collaborative grouping) whenteaching engineering economics. By promoting a more engaging and holistic learning approach,students can have the opportunity to become better problem solvers.Accordingly, ABET (Accreditation Board for Engineering and Technology) has published strictcourse outcome requirements for accredited programs. It is the intent of this paper to highlightvarious methods of teaching engineering economics to students in ways that maximize learning,as well as emphasize its importance for the modern engineer. Through the vigilantimplementation of various teaching styles, experiential learning

Conference Session

Engineering Economy Division Technical Session 1

Collection

2020 ASEE Virtual Annual Conference Content Access

Authors

Brian Aufderheide, Hampton University; Otsebele E. Nare, Hampton University

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

Paper ID #31339Engineering Economy Taught Across Engineering Disciplines: Work inProgressDr. Brian Aufderheide , Hampton University Dr. Brian Aufderheide is Chairperson in Chemical Engineering at Hampton University. He completed his PhD in Chemical Engineering at Rensselaer Polytechnic Institute. His areas of expertise are in advanced control, design, and modeling of biomedical, chemical, and biological processes. He has consulted for both medical device and biotechnology companies. He was sole engineer and QC supervisor of a 40MM lb/yr custom extrusion company. He has over 15 years of experience in education developing over

Conference Session

Engineering Economy Division Technical Session 1

Collection

2019 ASEE Annual Conference & Exposition

Authors

Joseph Wilck, College of William & Mary; Paul C. Lynch, Penn State Erie, The Behrend College

Tagged Divisions

Engineering Economy

provide details on an Engineering Economy course offered to apart-time (evening) MBA program at William & Mary. The students included engineers andnon-engineers. All students had taken multiple courses in accounting and finance prior to takingEngineering Economy. Thus, the focus of the course was on relevant applications of engineeringeconomy through journal paper reviews, public media, traditional homework assignments, andthe creation of a Social Security tool. The course was not focused primarily on typical timevalue of money concepts, since those concepts were well known from the finance courses.The course included a project, which was completed in pieces. The project was to build anindividual Social Security tool in Microsoft Excel. The

Conference Session

Engineering Economy Division Technical Session 2

Collection

2017 ASEE Annual Conference & Exposition

Authors

Robert P. Leland, Oral Roberts University

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

Paper ID #20213Enriching the Engineering Economics ClassProf. Robert P. Leland, Oral Roberts University Robert Leland has taught engineering at Oral Roberts University since 2005. Prior to that he served on the faculty at the University of Alabama from 1990 - 2005. His interests are in control systems, engineering education and stochastic processes. He has participated in engineering education research through the NSF Foundation Coalition, NSF CCLI and NSF Department Level Reform programs. c American Society for Engineering Education, 2017 Enriching the Engineering Economics

Conference Session

Improving course effectiveness

Collection

2013 ASEE Annual Conference & Exposition

Authors

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

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

Paper ID #6397Problem-Based Learning and Industrial EngineeringDr. Abhijit Gosavi, Missouri University of Science & Technology Abhijit Gosavi obtained a Ph.D. in Industrial Engineering from the University of South Florida in 1999. He also has a B.S. and a master’s degree in Mechanical Engineering (both degrees were from India). His research interests include simulation-based optimization, engineering education, Markov decision processes, revenue management, and productive maintenance. He has published in numerous journals in areas related to his research. He is currently an Assistant Professor in the Department of

Conference Session

Engineering Economy Division Technical Session 1

Collection

2016 ASEE Annual Conference & Exposition

Authors

Wolter J. Fabrycky P.E., Virginia Tech

Tagged Divisions

Engineering Economy

Paper ID #16313Engineering Economy at the System LevelDr. Wolter J. Fabrycky P.E., Virginia Tech Wolter J. Fabrycky is Lawrence Professor Emeritus of Industrial and Systems Engineering at Virginia Tech and Chairman, Academic Applications International, Inc. He is a registered Professional Engineer in Arkansas (1960) and Virginia (1965). He received a Ph.D. in Engineering, Oklahoma State University (1962); M.S. in Industrial Engineering, University of Arkansas (1958); B.S. in Industrial Engineering, Wichita State University (1957). He taught at Arkansas (1957-60) and Oklahoma State (1962-65) and then joined Virginia Tech

Conference Session

Engineering Management Applications

Collection

2012 ASEE Annual Conference & Exposition

Authors

Gene Dixon, East Carolina University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

define discipline-specificopportunities for leadership development and practice. It is preferred that the leadershipdevelopment be an accommodative platform for other purposes such as program assessment andassessment of student learning outcomes.2According to Malzahn, Whitman and Toro-Ramos3 a lack of effective leadership exists acrossindustry, government and academe. This lack is attributed to confusion as to what/who is aleader and how leadership is related to management. Dixon4 points out that leadership is aprocess that relates leader, follower and purpose. The role of followers in the process ofleadership is often neglected, adding to the confusion. Malzahn, et. al.3, also suggest thatleadership development within engineering programs may

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

Engineering Higher Education  Jerome P. Lavelle, Ph.D. College of Engineering, NC State University  Abstract: This paper describes a new proposed model and way of thinking about the process of assessing and evaluating engineering higher education programs for accreditation, and the way that data is used and shared. Proposed is a new construct for formatting and using data collected on the program self study report. In addition, it is suggested that now, 20 years after EC2000 was first designed, it is time to re-design, re-configure and re-engineer our current accreditation processes in light of new technologies and all that we’ve learned in these

Conference Session

Engineering Management Applications

Collection

2012 ASEE Annual Conference & Exposition

Authors

S. Jimmy Gandhi, Stevens Institute of Technology; Alex Gorod, Visiting Fellow, University of Adelaide

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

Development Activities which include, but not be limited to: Page 25.1314.6 1) Successful completion of a college or university course in the area of professional engineering, related sciences and engineering ethics. The dedicated course on systemic risk that the authors suggest can serve as one of the courses to be completed at the college or university level in the area of professional engineering. 2) Active participation and successful completion of professional engineering programs, seminars, tutorials, workshops, short courses, on-line or in-house courses. Credit will be given for self-study courses

Conference Session

Engineering Economy Division Technical Session 1

Collection

2020 ASEE Virtual Annual Conference Content Access

Authors

Bradley James Schmid, University of Saskatchewan

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

development of the open textbook, funding was made available to the projectthat allowed the primary authors to hire two undergraduate students and one graduate student tohelp in the development of the textbook. The two undergraduate students had previously takenthe engineering economics course while the graduate student was in a graduate program ineconomics. This strategy was extremely beneficial to both the instructors as primary authors andthe students as contributors.For the student contributors, their work on the open textbook allowed them to more fullyunderstand the course concepts and apply them to examples and cases for the textbook. For theprimary authors this work arrangement reduced their workload and provided feedback related toclarity of

Conference Session

Engineering Management Applications

Collection

2012 ASEE Annual Conference & Exposition

Authors

Syed Athar Masood, National University of Sciences & Technology, Rawalpindi, Pakistan

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

necessary ingredient for successful engineeringproject completion?Does any project team member non-commitment 131 6can affect successful completion of engineeringproject?Do you think project manager’s close relations with 134 3his/her project team members contribute towardssuccessful engineering project?Does project management team;s loyalty towards 132 5hid/her project can cause projects overrun in termsof time and cost?Do you think project manager’s promoting a clan 131 6type (family) project culture can contributestowards successful engineering projectcompletion?Data AnalysisIt is evident from the results of the data collected

Conference Session

Engineering Economy Education

Collection

2011 ASEE Annual Conference & Exposition

Authors

Bruce V. Mutter, Bluefield State College

Tagged Divisions

Engineering Economy

review for tests and quizzes; (7) providestudents with a ready-made, savable, printable, portfolio useful for Fundamentals of Engineering(FE) review and exam preparation, and (8) work more high-quality problem examples due tothese increased course delivery efficiencies.BackgroundENGR 315 -Engineering Economics is a three credit hour course that does not incorporate aformal laboratory (3-0-3). At our college it is described as the study of the relative economy ofengineering alternatives, compound interest in relation to calculation of annual costs, presentworth and prospective rates of returns on investments, methods of depreciation, sinking cost,increment cost, general studies with emphasis on retirement and replacement of equipment