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

MS TS programs. Page 11.42.7Bibliography1. Kauffmann, Paul and William Peterson. “Assignment of Importance to Engineering Economy Topics by Master of Engineering Management Students.” Proceedings of the American Society of Engineering Education Annual Conference, 2001.2. Farragher, Edward J., Robert T. Kleiman, and Anandi P. Sahu, “Current Capital Investment Practices,” The Engineering Economist, Vol. 44, No.2, 1999, (pp. 137-150).3. Klammer, T., B. Koch, and N. Wilner, “Capital Budgeting Practices – A Survey of Corporate Use,” Journal of Management Accounting Research, Fall 1991, (pp. 113-130

Conference Session

New Topics in Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

Charles Nippert, Widener University

Tagged Divisions

Engineering Economy

2006-594: COMPARING STUDENT PERFORMANCE USING CALCULATORSWITH PERFORMANCE USING EXCEL (MUST YOU KNOW HOW TO RIDE AHORSE IF YOU WANT TO DRIVE A CAR?)Charles Nippert, Widener University Page 11.338.1© American Society for Engineering Education, 2006 Comparing Student Performance Using Calculators with Performance Using Excel (Must You Know How to Ride a Horse If You Want to Drive a Car?)AbstractOur school offers a senior year course in engineering economics. For several years students havebeen allowed to take routine tests in this course by using either computers with (and) spreadsheetprograms(s) or conventional interest tables and calculators. The tests are the same

Conference Session

New Topics in Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

John Ristroph, University of Louisiana-Lafayette

Tagged Divisions

Engineering Economy

thatessentially has the same questions, but with different numbers. Please read the followingalternatives carefully and indicate whether you think that this is a good idea IF: a. No answers or solutions are available. b. Answers are provided for some of each student's problems, but no solutions. c. Answers are provided for some of all of each student's problems, but no solutions. d. Answers are provided for some of each student's problems, and solutions are provided for some of each student's problems(before the homework's due date). e. Answers are provided for all of each student's problems, and olutions are provided for each problem, but the solution uses ifferent numbers than the student's problem. f. Answers are provided for all of

Conference Session

Innovation in Teaching Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

Karen Bursic, University of Pittsburgh

Tagged Divisions

Engineering Economy

projects.Overall the students did well on the project; however a closer look at the grading does reveal thatthe majority of points were lost for a weak analysis of the non-economic issues such as theglobal and societal impacts of the two decisions situations. Thus while students did an admirablejob on the economic analysis techniques (including gathering appropriate data, identifyingalternatives, developing potential outcomes and differences in cash flows, applying presentworth analysis, rate of return, or B/C ratios, and making a decision), they did not do a good jobwhen it came to considering the non-economic impacts of their decisions. Such issues as publicconcern over privacy (in the RFID case) and poor public relations for a company as a result ofjob

Conference Session

Innovation in Teaching Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

Joseph Hartman, Lehigh University

Tagged Divisions

Engineering Economy

. Page 11.1247.1© American Society for Engineering Education, 2006 Testing the “Art” of Engineering Economic Decision-MakingAbstractMaking an economic decision involves both science and art. The “science” is comprised of theanalyses applied in the process, such as discounted cash flow analysis, sensitivity analysis, orbreakeven analysis. The “art” involves defining the problem, identifying relevant parameters,synthesizing information, trading off multi-attributes, and considering non-economic influences.While traditional quizzes can test whether students understand the science, testing the art is moredifficult. We utilize a single question, open-ended final exam for this purpose. Students aregiven a problem scenario, data, and

Conference Session

Innovation in Teaching Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

J. Cunha, University of Alberta

Tagged Divisions

Engineering Economy

syllabusThe main points discussed in classroom were: 1) The Decision Making Process 2) Review on Economic Engineering 3) Risk Analysis a. Definition; b. Decision tree analysis; c. Uncertainty analysis; d. Review on probability and statistics; e. Sensitivity analysis. Page 11.398.3 4) Implementation of Risk Analysis a. Petroleum Engineering applications. 5) Error and Uncertainty 6) Case Studies 7) Government Policies and RegulationsIn items 3, 4 and 5 various examples available in the current literature were discussed4,5,6,7,8. Acomputer software for Monte Carlo simulation of simple problems was distributed

Conference Session

Innovation in Teaching Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

Ahmad Sarfaraz, California State University-Northridge; Tarek Shraibati, California State University-Northridge

Tagged Divisions

Engineering Economy

student learning in an engineeringeconomy course. Student attendance, student achievement, maintaining pace with the class andstudent learning were the four factors that were measured in this study.IntroductionA number of reports show that there are dramatic differences between today’s students and thoseof a few years ago1. Nowadays, we see a general decrease in student preparedness, an increase innumber of employed students, an increase in number of part-time students, and an increase in theage of students. Although there are some factors that cannot be influenced by instructors, we canenhance students’ success rate by increasing student engagement. By engaging students weexpect students to move from memorizing concepts, to explaining those same