Conference Session

Using a Real-Options Analysis Tutorial in Teaching Undergraduate Students

Collection

2016 ASEE Annual Conference & Exposition

Authors

John A. White Jr., University of Arkansas

Tagged Divisions

Engineering Economy

values. In addition, discrete compounding or continuous compounding can be used. Finally, the BSM equations or the BS option table can be used. Shown below are solutions for all combinations of the alternatives, except using the BS option table. a) T = 24, discrete compounding, with rf = (1.04)1/12 -1 = 0.003274 and F = sqrt[(0.30)2/12)] = 8.6603%. S = $55.00, X = $58.50, d1 = {ln(55/58.50) + [ln(1.003274) + (0.086603)2/2](24)}/ [0.086603sqrt(24)] = 0.25161, d2 = 0.25161 - 0.086603sqrt(24) = -0.17266, N(d1) = 0.59933, N(d2) = 0.43146, and C = 55(0.59933) - 58.50(0.43146)/(1.04)2 = $9.63 b) T = 24, continuous compounding, with rf = ln(1.04)/12 = 0.0032684 and F = sqrt[(0.30)2/12) = 8.6603%. S = $55.00, X = $58.50, d1 = {ln(55

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

X Support of Faculty Prof Development XProgram Educational Objectives X PROGRAM CRITERIAConsistency PEOs w/ Mission X Compliance with X XProgram Constituencies X APPENDICESProcess for Review of PEOs X Appendix A – Course Syllabi XCRITERION 3. STUDENT OUTCOMES Appendix B – Faculty Vitae XStudent Outcomes X Appendix C – Equipment XRelationship Outcomes to PEOs X Appendix D – Institutional Summary XCRITERION 4. CONTINUOUS IMPROVE The Institution XProcess and Outcome Assesmnt

Conference Session

Engineering Economy Division Technical Session 2

Collection

2016 ASEE Annual Conference & Exposition

Authors

Ted Eschenbach P.E., TGE Consulting; Neal A Lewis, University of Bridgeport

Tagged Divisions

Engineering Economy

2. As a group these texts have includedmore coverage of spreadsheets than we had expected. We have not done a detailed analysis ofpre-proposition editions with the current editions, but we did see changes—sometimes verysignificant ones that represented using more spreadsheet functions or presenting them verydifferently. Table 2. Methods for TVM Calculated Examples TVM TVM Book # Exp. Factors SSht Formulas B&T 7th 121 72% 51% 27% B&T Basic 2nd 85 72% 31% 26% Newnan 12th 156 62% 53

Conference Session

Engineering Economy Division Technical Session 1

Collection

2016 ASEE Annual Conference & Exposition

Authors

Kellie Grasman, Missouri University of Science & Technology; Dan Cernusca, North Dakota State University

Tagged Divisions

Engineering Economy

Reading and graded Practice Problem assignments. b. Instructor-Created Modules, consisting of Introduction videos with learning objectives, Lessons in both PowerPoint™ and video form, and Example problem videos contained in the learning management system. 2. Classroom Activities a. Lessons, consisting of PowerPoint™ presentations with live annotation b. In-Class Problem Solving with polling, consisting of examples solved by students and/or the instructor with audience response 3. Support Resources a. Problem Solving Help, consisting of tutoring three afternoons per week by skilled undergraduate Learning Assistants in a computer lab setting b

Conference Session

Engineering Economy Division Technical Session 2

Collection

2016 ASEE Annual Conference & Exposition

Authors

Hector E. Medina, Liberty University; Benjamin T. Scoville, Liberty University

Tagged Divisions

Engineering Economy

, and marine aquaculture. c American Society for Engineering Education, 2016Implementation and Evaluation of Visual Algorithm to Teach Benefit-to-Cost Ratio AnalysisIn the recent past, we developed a novel, visual, simple algorithm to teach incremental benefit-to-cost ratio (BCR) analysis to first- and second-year engineering students. The impetus behindthat endeavor was twofold: (a) BCR analysis is the most used technique for economic analysisand decision making in the public sector, and (b) to accommodate to the visual learning stylethat dominates in the engineering student demographics. In the present follow-up work, we: (1)carried out statistical analysis to assess the reception and

Conference Session

Engineering Economy Division Technical Session 1

Collection

2016 ASEE Annual Conference & Exposition

Authors

K. Jo Min, Iowa State University; John Jackman, Iowa State University; Michelle Zugg, Iowa State University

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

on engineering projects.Under these circumstances, for such projects, it is essential that engineering students have: A. active decision making capabilities exploiting the aforementioned strategic flexibility as the uncertainties such as electric power prices or fossil fuel costs unfold over time. B. a useful framework for critical decision making that adds managerial insights and facilitates development of intuition behind decision making under uncertainties. For example, why does volatility increase the value of flexibility (when the flexibility is viewed as an option, its holders do not lose from increased uncertainties if things turn out wrong, but gain if they turn out right because the real

Conference Session

Engineering Economy Division Technical Session 3

Collection

2016 ASEE Annual Conference & Exposition

Authors

Paulina Z. Sidwell, McLennan Community College

Tagged Topics

ASEE Diversity Committee, Diversity

Tagged Divisions

Engineering Economy

students, in teams, were asked to answer questions about how to handle renovation expenses. The students had to write a report and do a presentation while abroad. b. Videologs: The students were tasked with recording 1 to 2 minute long educational videos of various locations we visited. The objective of this project was to encourage students to research the places we were going to in advance. They had to prepare and memorize a script prior to departure, and film at the location using a GoPro camera. The students were told to briefly comment on something interesting, engineering-wise and/or engineering-economics-wise. After the students

Conference Session

Engineering Economy Division Technical Session 3

Collection

2016 ASEE Annual Conference & Exposition

Authors

Deborah Ann Pedraza, Texas Tech University; Mario G. Beruvides P.E., Texas Tech University

Tagged Topics

ASEE Diversity Committee

Tagged Divisions

Engineering Economy

Paper ID #17478The Relationship Between Course Assignments and Academic Performance:An Analysis of Predictive Characteristics of Student PerformanceMrs. Deborah Ann Pedraza, Texas Tech University I am a Systems and Engineering doctoral student at Texas Tech University. I have Bachelor’s degree in the Mathematics from The University of Houston - Victoria, an MBA - The University of Houston - Vic- toria, and a Master’s Degree in Electrical and Computer Engineering - The University of Massachusetts- Amherst. I teach Mathematics, Engineering, and Computer Science at Cuero High School in Cuero, TX and adjunct for The Victoria

Conference Session

Engineering Economy Division Technical Session 3

Collection

2016 ASEE Annual Conference & Exposition

Authors

Corey Kiassat, PhD, MBA, PE P.E., Quinnipiac University; Xiaoyue Jiang, Quinnipiac University

Tagged Topics

ASEE Diversity Committee

Tagged Divisions

Engineering Economy

. (2009). Educating tomorrow’s engineering leaders. Materials Today, 12 (9), 6. 5. Ahn, B., Cox, M.F., London, J., Cekic, O., and Zhu, J. (2014). Creating an Instrument to Measure Leadership, Change, and Synthesis in Engineering Undergraduates, Journal of Engineering Education, 103 (1), 115–136 6. Harper, G.R., and Sullivan. M.V. (1996). Hope is not a method: What business leaders can learn from America's army. Broadway Books, New York. 7. Wilding, W.V., Knotts, T.A. IV, and Pitt, W.G. (2012). AC 2012-4462: Developing and Assessing Leadership in Engineering Students. age 25: 1. 8. Farr, J.V., Walesh, S.G., and Forsythe, G.B.(1997). Leadership development for engineering managers. Journal of Management

Conference Session

Engineering Economy Division Technical Session 1

Collection

2016 ASEE Annual Conference & Exposition

Authors

Paul C. Lynch, Penn State University Erie, The Behrend College; Joseph Wilck, United States Air Force Academy; Omar Ashour, Pennsylvania State University Erie, The Behrend College

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

?DisclaimerThe views expressed in this paper are those of the authors and do not necessarily reflect theofficial policy or position of the U.S. Air Force, the U.S. Department of Defense, or the U.S.Government.References 1. Lynch, P.C., Bober, C., Wilck, J.H., “An Integrated Approach to Developing Business Expertise in Industrial Engineering Students,” Proceedings of the 2015 ASEE Annual Conference & Exposition, 2015. 2. Barron, E., “Invent Penn State: Let’s turn great discoveries into a great economy, together” Penn State News, January 8th, 2015. 3. Archibald, M., Reuber, M., Allison, B., “Reconciling Well-defined Capstone Objectives and Criteria with Requirements for Industry Involvement,” Proceedings of the 2002 American

Conference Session

Engineering Economy Division Technical Session 3

Collection

2016 ASEE Annual Conference & Exposition

Authors

Jingjing Tong, Southeast Missouri State University; Heather Nachtmann, University of Arkansas

Tagged Topics

ASEE Diversity Committee

Tagged Divisions

Engineering Economy

3 $2,000,000 4 $2,200,000 5 $3,000,000(a) Computer the IRR for this investment using trial and error method.(b) Would you accept this investment at MARR = 20% (Show your work for why)?ConclusionsThe educational case study presented in this paper is designed to highly replicate a real-worldinland waterway disruption scenario. A solutions manual is available to engineering educators bysubmitting an email request to the authors. The significance of this developed case study istwofold. First, it provides the students with a real-world engineering problem to apply andpractice their engineering economy and decision analysis skills

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

identified in considering the most useful engagement of EE@SL. 1) Traditional engineering design focuses mainly on the acquisition phase of the system life cycle, with too little attention given to commitments that affect outcomes during operation. 2) Traditional capital budgeting does not fully accommodate evolving mutually exclusive design alternatives as capital investment opportunities incorporating design optimization.  Powerful approaches utilizing modeling and indirect experimentation (simulation) may be used to help narrow the undesirable gap between commitment and system specific knowledge within EE@SL. During design synthesis, A-A’ and B-B’ may be reduced by effective integration and adequate iteration

Conference Session

Engineering Economy Division Technical Session 2

Collection

2016 ASEE Annual Conference & Exposition

Authors

Paul C. Lynch, Penn State University Erie, The Behrend College; James F. Kimpel, University of Pittsburgh; Karen M. Bursic, University of Pittsburgh

Tagged Divisions

Engineering Economy

Paper ID #16061Developing Essential Business and Engineering Skills through Case Compe-titionsDr. Paul C. Lynch, Penn State University Erie, The Behrend College Paul C. Lynch received his Ph.D., M.S., and B.S. degrees in Industrial Engineering from the Pennsylvania State University. Dr. Lynch is a member of AFS, SME, IIE, and ASEE. Dr. Lynch’s primary research interests are in metal casting, manufacturing systems, and engineering education. Dr. Lynch has been recognized by Alpha Pi Mu, IIE, and the Pennsylvania State University for his scholarship, teaching, and advising. He received the Outstanding Industrial Engineering