Conference Session

Engineering Economy Division (EED) Technical Session

Collection

2023 ASEE Annual Conference & Exposition

Authors

Robert A. Baffour, University of Georgia; Nathaniel Hunsu, University of Georgia; Eliza A Banu, University of Georgia; Adel W. Al Weshah, University of Georgia; Barbara Norton McCord P.E., University of Georgia; Marguerite Carol Brickman, University of Georgia

Tagged Divisions

Engineering Economy Division (EED)

-assessment, such as offering extra credit orincorporating self-assessment results into the overall grading scheme as used in this study.A we continue to work on this topic, the following future works are in the pipeline: 1) investigatehow different teaching approaches affect self-assessment accuracy, 2) investigate the effect of self-assessment on overall performance, and 3) analyze how different groups of students (such as poorand good students) assess themselves.AcknowledgementsThis project is based upon work supported by the National Science Foundation under Grant No.DUE 1821023. Any opinions, findings, and conclusions or recommendations expressed in thismaterial are those of the author(s) and do not necessarily reflect the views of the

Conference Session

Elements of decision making in engineering economics education

Collection

2025 ASEE Annual Conference & Exposition

Authors

Hartanto Wibowo, Iowa State University of Science and Technology; Jon Matthews Rouse

Tagged Divisions

Engineering Economy Division (EED)

those who responded. However, the survey wasadministered by a third-party faculty member (not the instructor-of-record and never participatedin class activities) so that students’ remarks could be decoupled from their names when sharedwith the course instructor. Survey participants were informed of this anonymization, so thestudents could express their thoughts freely and possible bias in grading could be minimized.The methodology is illustrated in Figure 2. Figure 2. Methodology flowchartTerminology Inventory QuizEngineering students are generally not highly familiar with common jargon and terminologies ineconomics if they have not taken elective, introductory-level economics or business course(s).Most students

Conference Session

AI Integration in Engineering Economy Course

Collection

2025 ASEE Annual Conference & Exposition

Authors

Hamed Samandari, University of Massachusetts Dartmouth

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Diversity

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Engineering Economy Division (EED)

assignment and a study guide before the final exam.Examples of these materials are provided in the appendix and discussed in the results section ofthe study. The design of this study aimed to explore whether simply informing students about AIand allowing them to use it without specific training or structured guidance could enhance theirunderstanding of the course topics. This approach was particularly relevant as our institution, likemany others, is debating whether to limit student use of AI tools.ResultsWe started the study with the soft introduction phase. Examples are selected from the coursetextbook(s) and are solved using Chat GPT-4o and AP- Microeconomics bot. We created a newpaid account and used it only for the study. This was done since

Conference Session

Engineering Economy Division (EED) Technical Session

Collection

2023 ASEE Annual Conference & Exposition

Authors

Neal A. Lewis, University of Nebraska - Lincoln; Ted Eschenbach, TGE Consulting

Tagged Topics

Diversity

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Engineering Economy Division (EED)

-of-u-s-elderly/. [Accessed December29, 2022].[12] “Disparities in Life Expectancy Persist among Racial and Ethnic Groups across the US,” The Lancet, June 16,2022. [Online]. Available: https://www.healthdata.org/news-release/lancet-disparities-life-expectancy-persist-among-racial-and-ethnic-groups-across-us. [Accessed December 29, 2022].[13] National Institutes of Health, “Life Expectancy in the U.S. Increased Between 2000-2019, but WidespreadGaps Among Racial and Ethnic Groups Exist,” June 16, 2022. [Online]. Available: https://www.nih.gov/news-events/news-releases/life-expectancy-us-increased-between-2000-2019-widespread-gaps-among-racial-ethnic-groups-exist. [Accessed December 29, 2022].[14] Sanghi, S., and A. Smaldone, “The Evolution of

Conference Session

Elements of decision making in engineering economics education

Collection

2025 ASEE Annual Conference & Exposition

Authors

Gbetonmasse B Somasse, Worcester Polytechnic Institute

Tagged Divisions

Engineering Economy Division (EED)

. Future work can consider more quantitative analysis of the effectivenessof the learning module in promoting economic literacy in engineering education.Conflict of Interest There is no conflict of interest to the authors’ knowledge.AcknowledgmentsThis work was supported by the Kern Family Foundation through an Engineering Unleashedfellowship received by the author.References[1] “civil-engineering-program-criteria-commentary---feb-2024.pdf.” Accessed: Feb. 19, 2025. [Online]. Available: https://www.asce.org/-/media/asce-images-and-files/career-and- growth/educators/documents/civil-engineering-program-criteria-commentary---feb-2024.pdf[2] S. Zoghi, “Engineering economics and its role in the engineering curricula,” in 2015 ASEE Annual

Conference Session

AI Integration in Engineering Economy Course

Collection

2025 ASEE Annual Conference & Exposition

Authors

Katie Leanne Basinger, University of Florida; Andrew Benjamin McGrath, University of Florida; Henry Maxwell Gonzalez, University of Florida

Tagged Divisions

Engineering Economy Division (EED)

of students in correlation with their group.Figure 2. Average of each exam based on group and semester.In the analysis of course evaluations, we focused on three key questions that provided the mostrelevant feedback regarding the active learning modules: (1) “Please identify the instructor’sstrengths that contributed to your learning in the course,” (2) “What additional constructivefeedback can you offer the instructor that might help improve the course?”, and (3) “Whatconstructive suggestion(s) do you have for improving the course materials, organization, andassignments?” Student comments included both positive and negative perspectives. For example,a positive comment noted, I think having more active videos would help the students interact

Conference Session

AI Integration in Engineering Economy Course

Collection

2025 ASEE Annual Conference & Exposition

Authors

Billy Gray, Tarleton State University; Gloria Margarita Fragoso-Diaz

Tagged Divisions

Engineering Economy Division (EED)

thestudent’s education. One practical use is that of automation in grading essays. Utilizing computerfeedback on essays has been discussed and researched since at least the 1960’s. AutomatedEssay Scoring (AES) has been used to provide quick feedback on student work. It is focusedmore on the technical and mechanical aspects of writing and seeks to replicate a human grader[7]. AES is generally more holistic in its assessment [2].AI use in reviewing and grading students’ assignments have been viewed as beneficial andpotentially more accurate than human-based review [1]. More recent uses of AI involve the useof Natural Language Processing (NLP) to aide in these tasks. NLP utilizes different machinelearning models and algorithms, with two common methods

Conference Session

Engineering Economy Division (EED) Technical Session

Collection

2023 ASEE Annual Conference & Exposition

Authors

Ming Li, Beijing Foreign Studies University; Min Zhao, Graduate School of Education, Beijing Foreign Studies University

Tagged Divisions

Engineering Economy Division (EED)

development of engineering educationgoals and student learning outcomes, and carrying out engineering programassessment and continuous improvement. Among them, participating in theassessment and continuous improvement of engineering programs is the biggestchallenge for teacher. According to the findings of Engineering Change, the potentialimpact of EC2000 on student learning includes three aspects - curriculum, teachingmethods, and teacher culture. [15] These are actually important aspects of academicpower participating in the quality assurance in engineering education. EC2000’s 7emphasis on student learning outcome and continuous improvement assessmentrequires teacher to actively improve the educational

Conference Session

Engineering Economy Division (EED) Technical Session 1

Collection

2023 ASEE Annual Conference & Exposition

Authors

Daniel B. Oerther, Missouri University of Science and Technology

Tagged Divisions

Engineering Economy Division (EED)

of states 3. Including a pictorial representation of the system with explicit notation for states and relationships 4. Listing assumptions 5. Using the assumptions to reduce the model to a solvable sub-model 6. Creating a mathematical representation of the sub-model 7. Implementing a solution to the mathematical representation 8. Interpreting the results of the solution 9. Conducting a sensitivity analysis of the solution 10. Describing the lesson/s learned in the overall exerciseGrading Rubric 1. Providing a narrative of the overall problem and identifying important states and relationships a. Less than 500 words total b. Identify 3-5 states c. Identify 5-10

Conference Session

Engineering Economy Division (EED) Technical Session 1

Collection

2023 ASEE Annual Conference & Exposition

Authors

Huseyin Sarper, Old Dominion University; Nebojsa I Jaksic P.E., Colorado State University - Pueblo

Tagged Divisions

Engineering Economy Division (EED)

Development of Environmental Data Acquisition System Enhances Student Learning in Undergraduate Engineering Courses,”, 2015 ASEE Annual Conference Proceedings, Seattle, WA, 2015. Paper No. 11520. [4] D. A. Kolb, Experiential Learning: Experience as the Source of Learning and Development, Prentice Hall, Englewood Cliffs, NJ, 1984. [5] J. N. Harb, S. O. Durrant, and R. E. Terry, “Use of the Kolb Learning Cycle and the 4MAT System in Engineering Education,” Journal of Engineering Education, 82, 70-77, 1993. [6] J. N. Harb, R. E. Terry, P. K. Hurt, and K. J. Williamson, Teaching Through the Cycle: Application of Learning Style Theory to Engineering Education at Brigham Young University, 2nd Edition, Brigham Young

Conference Session

Engineering Economy Division (EED) Technical Session 1

Collection

2023 ASEE Annual Conference & Exposition

Authors

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

Tagged Topics

Diversity

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Engineering Economy Division (EED)

instruction on the activities involved in, and the benefits of, projectmanagement in order to increase functionality within Capstone Design Teams.PopulationThe current study takes place at Stevens Institute of Technology, a small, private, urban campusacross the Hudson River from Manhattan in New Jersey. Approximately 4000 undergraduatestudents are enrolled, of whom over 2000 are engineering students. The Engineering ManagementProgram housed in the School of Systems and Enterprises at Stevens has been ABET accreditedsince the early 1990’s and has been responsible for teaching the junior level EngineeringEconomics course at Stevens for decades.Course Re-Design and InstructionAs could be discerned, there needed to be major differences between the old

Conference Session

Elements of decision making in engineering economics education

Collection

2025 ASEE Annual Conference & Exposition

Authors

Tamara R Etmannski, University of British Columbia, Vancouver; Mohosina Jabin Toma, University of British Columbia, Vancouver; Johan Foster, University of British Columbia, Vancouver

Tagged Divisions

Engineering Economy Division (EED)

coherence. Future work will include gathering andanalysing student feedback, refining materials based on recommendations, planning a morerigorous study comparing OER-using sections with textbook using sections, and expanding thepilot to additional departments to expand on annual student savings.6. EthicsAs confirmed by the UBC Behavioural Research Ethics Board (BREB) office, the work isconsidered “Quality Improvement and Assurance and Program Evaluation”, which under Article2.5 of the Tri Council Policy Statement is exempt from institutional ethics review requirements.This work therefore does not require ethics review for its performance or dissemination.7. References[1] T. R. Etmannski, S. Song, J. Sandhu, L. Kim, & A. Wang, “Online Open

Conference Session

AI Integration in Engineering Economy Course

Collection

2025 ASEE Annual Conference & Exposition

Authors

Raymond L. Smith III, East Carolina University; Ricky T Castles, East Carolina University; Emily Fuller Sondergard

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Diversity

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Engineering Economy Division (EED)

Conferences, Jun. 2024, p. 47796. doi: 10.18260/1-2--47796.[12] H. Halaburda, J. Prince, D. Daniel Sokol, and F. Zhu, “The business revolution: Economy‐wide impacts of artificial intelligence and digital platforms,” Economics Manag Strategy, vol. 33, no. 2, pp. 269–275, Mar. 2024, doi: 10.1111/jems.12581.[13] J. Tu, “Learn to Speak Like A Native: AI-powered Chatbot Simulating Natural Conversation for Language Tutoring,” J. Phys.: Conf. Ser., vol. 1693, no. 1, p. 012216, Dec. 2020, doi: 10.1088/1742-6596/1693/1/012216.[14] C.-Y. Chang, S. Kuo, and G.-H. Hwang, “Chatbot-facilitated Nursing Education: Incorporating a Knowledge-Based Chatbot System into a Nursing Training Program,” Educational Technology &

Conference Session

Engineering Economy Division (EED) Technical Session

Collection

2023 ASEE Annual Conference & Exposition

Authors

Neal A Lewis, University of Nebraska - Lincoln; Jena Shafai Asgarpoor, University of Nebraska - Lincoln; Ipek Bozkurt

Tagged Divisions

Engineering Economy Division (EED)

, “Reclaiming Engineering Management’s Position among EngineeringDisciplines,” 2022 International Conference, American Society for Engineering Education, Minneapolis, MN, June2022.[4] R. L. Morgan, E. S. Hunt, J. M. Carpenter, “Classification of Instructional Programs, 1990 edition.” [Online].Available: nces.ed.gov/pubs91/91396.pdf. [Accessed January 15, 2023].[5] Morgan, R.L., and E.S. Hunt, “Classification of Instructional Programs – 2000; Public Comment Draft,”communication from AskaLibrarian, AskaLibrarian@ed.gov, October 20, 2022.[6] National Center for Education Statistics, “CIP: The Classification of Instructional Programs.” [Online].Available: https://nces.ed.gov/ipeds/cipcode/cipdetail.aspx?y=55&cip=15.1501. [Accessed January 15, 2023].[7

Conference Session

Engineering Economy Division (EED) Technical Session 1

Collection

2023 ASEE Annual Conference & Exposition

Authors

Robert P. Leland, Oral Roberts University

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Diversity

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Engineering Economy Division (EED)

.[2] Grameen Bank, “About Grameen Bank,” [Online]. Available:https://grameenbank.org/about/introduction, 2023.[3] M. Yunus, “Social Business and Microfinance: Building Partnerships with Corporations andOther Entities to Speed the End of Poverty,” in New Pathways Out of Poverty, S. Daley-Harris,A. Awlimbo Eds. Sterling, VA: Kumarian Press, 2011, pp. 121-141.[4] Accion, “Accion Our History,” [Online]. Available: https://www.accion.org/about/history,2023.[5] J. Kagan, “Microfinance Definition: Benefits, History, and How It Works,” Investopedia, Jan4, 2022. [Online]. Available: https://www.investopedia.com/terms/m/microfinance.asp .[6] G. Bull, “Small but Mighty: CGAP and the future of Financial Inclusion,” ConsultativeGroup to Assist the Poor

Conference Session

Engineering Economy Division (EED) Technical Session 1

Collection

2024 ASEE Annual Conference & Exposition

Authors

Ted Eschenbach, University of Alaska ; Neal A. Lewis, University of Nebraska

Tagged Topics

Diversity

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Engineering Economy Division (EED)

, American Society forEngineering Education, June 25-28, 2023, Baltimore, MD.19. “Policy Basics: Top Ten Facts about Social Security,” Center on Budget and Policy Priorities,April 17, 2023. [Online]. Available: https://www.cbpp.org/research/policy-basics-top-ten-facts-about-social-security. [Accessed 1/23/2024].20. M. Anderson, H. Yamagata, and S. Tuljapurkar, “Stochastic Rates of Return for SocialSecurity Under Various Policy Scenarios,” University of Michigan Retirement Research Center,Working Paper WP 2001-010. May 2001. [Online]. Available:https://deepblue.lib.umich.edu/handle/2027.42/50610. [Accessed 1/29/2024].21. M. Morrissey, “Social Security is Looking Like a Pretty Good Investment these Days,”Economic Policy Institute, Apil 23, 2018