June 24, 2017
June 24, 2017
June 28, 2017
Economic analysis is critical to virtually every engineering and manufacturing decision. Economic analysis is typically taught in a traditional lecture environment, with application only in a senior-level capstone course. We conducted a study using a subjective test to simulate a capstone environment, wherein students were tasked with a new design and were instructed to include economic analyses in their decision making. Our results indicate that for the students who had previous coursework in economic analysis, the application of such analysis principles was less than effective. Based on feedback from students involved in the study and our industry partners, we assert that introducing the education intervention of “real-world repetition” would be more effective than the conventional approach. This research describes how the integration of this intervention with the principles of economic-analysis in many project-based courses can lead to students better understanding the concepts of economic analysis and a better grasp on how to better apply these concepts.
Gray, B., & Davis, D., & Jones, E. C. (2017, June), Integrating Costing into an Engineering Economics Course Paper presented at 2017 ASEE Annual Conference & Exposition, Columbus, Ohio. 10.18260/1-2--28550
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