June 24, 2017
June 24, 2017
June 28, 2017
Freshmen are usually considered to be lacking in mathematical skills and sophistication required to perform an economic analysis of an engineering proposal. However, operating under the theory that everyone is an economist of sorts, making shrewd economic choices daily in their personal lives, the teacher can pose a problem of sufficient complexity to introduce the students to the basic economic analysis thought processes that will be used throughout their careers as engineers.
The key to introducing the concepts of engineering economic analysis is to lay out the evaluation steps and lead the students through each step, in sequence, and develop the mathematical tools to complete each step. Although engineering economic analysis for public and private projects employ complicated analytical techniques to buttress the decision to proceed or to discard them, the underlying principles are easily understood and absorbed by freshmen.
I am now embarking on introducing my first semester freshmen to the art of engineering economic analysis of replacing high pressure sodium vapor street lights with LED street lights in a small town adjacent to our university. My paper will track the progress of the experiment and identify what worked and what did not.
Brunnhoeffer, G. C. (2017, June), Engineering Economics for Freshmen Engineers Paper presented at 2017 ASEE Annual Conference & Exposition, Columbus, Ohio. 10.18260/1-2--28249
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