Conference Session

Advances in Engineering Economy Pedagogy

Collection

2010 Annual Conference & Exposition

Authors

Emily Evans, University of Arkansas; Heather Nachtmann, University of Arkansas; Kim Needy, University of Arkansas

Tagged Divisions

Engineering Economy

engineering economy is beingtaught in undergraduate engineering classrooms and to uncover new and innovative methods forimproving how the curriculum is conducted.Bibliography1. Bafna, K. and B. Aller, “Enhancing the Learning of Engineering Economy with Innovative Technology and Teaching,” American Society for Engineering Education Annual Conference Proceedings, 2007.2. Elizandro, D. W. and J. O. Matson, “Taking a Moment to Teach Engineering Economics Education,” The Page 15.50.6 Engineering Economist, Vol. 52, No. 2, 2007, pp. 97-116.3. Hartman, J. C., “Suggestions For Teaching Engineering Economy at the Undergraduate Level,” The

Conference Session

Advances in Engineering Economy Pedagogy

Collection

2010 Annual Conference & Exposition

Authors

Christopher Jablonowski, University of Texas, Austin

Tagged Divisions

Engineering Economy

example, when simulating sequential intervalson an individual well, one must specify whether the outcome for a deeper interval is conditionalon the outcome of a shallower interval, or if they are independent of each other. In mostempirical studies, the simulated variables are often assumed to be statistically independent tosimplify the analysis, that is, Prob(A|B)=Prob(A). In many cases, this assumption is reasonable.That is, even in cases where one interval has significant problems, the next interval can beassumed to be independent after the previous interval is secured (with steel casing and cement).However, this is not always an appropriate assumption. For example, problems in a shallowinterval may lead to an early casing setting depth and

Conference Session

Including Engineering Economy in All Curricula

Collection

2010 Annual Conference & Exposition

Authors

Leland Blank, Texas A&M University

Tagged Divisions

Engineering Economy

AC 2010-241: PANEL DISCUSSION: HOW CAN ENGINEERING ECONOMYCONCEPTS AND TECHNIQUES BE INCLUDED IN ALL ENGINEERINGCURRICULA?Leland Blank, Texas A&M University Leland Blank, PhD, PE, is Dean Emeritus of Engineering at the American University of Sharjah (AUS), United Arab Emirates, and Professor Emeritus of Industrial and Systems Engineering at Texas A&M University. While serving at AUS, all undergraduate and graduate programs were accredited by UAE and US agencies, including full ABET accreditation. Lee is currently a Visiting Professor at Texas A&M University at Qatar in Doha. He is a Past President and Fellow of the Institute of Industrial Engineers. He has served higher

Conference Session

Frontiers in Engineering Economy

Collection

2010 Annual Conference & Exposition

Authors

John White, University of Arkansas; Kenneth Case, Oklahoma State University; David Pratt, Oklahoma State University

Tagged Divisions

Engineering Economy

recipient of numerous prestigious awards and has published numerous papers and books. A consultant to a wide variety of organizations, his primary professional interests are in quality and reliability engineering and economic analysis. Active in scouting, he has received the Distinguished Eagle Scout and Silver Bear medals.David Pratt, Oklahoma State University David B. Pratt, PhD, PE, is Associate Professor and Director of the Undergraduate Program in the School of Industrial Engineering and Management at Oklahoma State University. An APICS Certified Fellow in Production and Inventory Management and an ASQ Certified Quality Engineer, he held technical and managerial positions in the aerospace

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

. Theinstructor must supply all content. This year, a course is being developed for EngineeringEconomy – the first engineering course to be developed under the program.Engineering Economy is taught in three departments in the College of Engineering, includingCivil Engineering, Chemical Engineering and Industrial Engineering, at the University ofFlorida. The course taught in Industrial and Systems Engineering generally has the highestenrollments, with roughly 400 students from Industrial, Mechanical, Electrical, Computer,Computer Science and Materials Science enrolling annually (170 in each fall and spring semesterand 60 in the summer).The course was chosen for development because (a) it impacts a large number of engineeringstudents; (b) development could

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

XC. Analyses (e.g., breakeven, benefit-cost) X XD. Uncertainty (e.g., expected value and risk) X X XAfternoon- Chemical: Process Design and Economic Optimization 10%A. Process flow diagrams (PFD)B. Piping and instrumentation diagrams (P&ID)C. Scale-up X XD. Comparison of economic alternatives (e.g., NPV, discounted cash flow, rate of return) X XE. Cost estimation

Conference Session

Frontiers in Engineering Economy

Collection

2010 Annual Conference & Exposition

Authors

Ted Eschenbach, TGE Consulting

Tagged Divisions

Engineering Economy

University in 1975, and his masters in civil engineering from UAA in 1999. Page 15.1375.1© American Society for Engineering Education, 2010 Why Engineering Economy Professors Should Teach Introductory Corporate FinanceAbstractBoth engineering economy and finance focus their introductory courses on the time value ofmoney. Yet, in spite of this shared foundation, those courses are very different. This paperdiscusses what these differences are, why they occur, and what the disciplines can offer eachother. The goal is to help textbook authors and classroom teachers in each field to do a better jobof

Conference Session

Frontiers in Engineering Economy

Collection

2010 Annual Conference & Exposition

Authors

Arup Maji, University of New Mexico

Tagged Divisions

Engineering Economy

AC 2010-2191: EFFECTIVENESS OF TEXTBOOK AND OUTSIDE SOURCES INTEACHING ENGINEERING ECONOMICSArup Maji, University of New Mexico Page 15.443.1© American Society for Engineering Education, 2010 Effectiveness of Textbook and Outside Sources in Teaching Engineering EconomicsAbstractThe paper will discuss changes made in the teaching of Engineering Economics, a requiredsophomore undergraduate class. The first change was the inclusion of relevant economic andfinancial news to complement subject matter covered in class. This new material coveredapproximately 25% of the required contact hours and allowed the course to be used to assess twoABET

Conference Session

Frontiers in Engineering Economy

Collection

2010 Annual Conference & Exposition

Authors

Neal Lewis, University of Bridgeport; Ted Eschenbach, TGE Consulting; Joseph Hartman, University of Florida

Tagged Divisions

Engineering Economy

operations research and his doctorate in industrial engineering are from Stanford University. He is the principal of TGE Consulting, an emeritus professor of engineering management at UAA, and the founding editor emeritus of the Engineering Management Journal. His engineering economy texts are published by Oxford University Press.Joseph Hartman, University of Florida Dr. Joseph C. Hartman, P.E. received his Ph.D. in 1996 and M.S. in 1994 in industrial engineering from the Georgia Institute of Technology and his B.S. in general engineering from the University of Illinois at Urbana-Champaign in 1992. He is a professor in the Department of Industrial and Systems Engineering at the University of Florida