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Integrating Economic Analysis into Capstone Design

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Conference

2014 ASEE Annual Conference & Exposition

Location

Indianapolis, Indiana

Publication Date

June 15, 2014

Start Date

June 15, 2014

End Date

June 18, 2014

ISSN

2153-5965

Conference Session

Integrating Engineering Economy into Curricula

Tagged Division

Engineering Economy

Page Count

9

Page Numbers

24.771.1 - 24.771.9

DOI

10.18260/1-2--20663

Permanent URL

https://peer.asee.org/20663

Download Count

342

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Paper Authors

biography

Gene Dixon East Carolina University

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Gene Dixon is an Associate Professor at East Carolina where he teaches aspiring engineers at the undergraduate level. Previously he has held positions of responsibility in industry with Union Carbide, Chicago Bridge & Iron, E.I. DuPont & deNemours, Westinghouse Electric, CBS, Viacom and Washington Group. Positions include project engineer, program assessor, senior shift manager, TQM coach, and production reactor outage planner. He received a Ph.D. in Industrial and Systems Engineering and Engineering Management from The University of Alabama in Huntsville, a Masters of Business Administration from Nova Southeastern University and a Bachelor of Science in Materials Engineering from Auburn University. He has served as newsletter editor/secretary, program chair, division chair and awards chair (or equivalent) in both the Engineering Management and Engineering Economy Divisions of ASEE. He is a fellow of the American Society of Engineering Management and serves as Secretary of the Society and will be president in 2015. Dixon also serves on the Eugene L. Grant Award Committee for the Engineering Economy Division of ASEE. He is President-elect of the American Society for Engineering Management.

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biography

Joseph Wilck IV East Carolina University

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Joseph Wilck received his PhD from Pennsylvania State University in Industrial Engineering and Operations Research, and a BS and MS from Virginia Tech in Industrial and Systems Engineering. Dr. Wilck is a registered Professional Engineer, former Vice President of Student Development for the Institute of Industrial Engineers (IIE), current newsletter editor for ASEE's Engineering Economy Division, and an active member of INFORMS, INCOSE, TRB, IEEE, and ASEM. Dr. Wilck’s research has been sponsored by NSF, DOE, ORNL, NCDOT, and industrial partners. Dr. Wilck has held a faculty position at the University of Tennessee, Knoxville. He is currently an Assistant Professor of Engineering at East Carolina University.

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Abstract

Integrating Economic Analysis into Capstone DesignThis paper presents the use of engineering economy methods as a design tool in a seniorcapstone design course sequence within a general undergraduate engineering curriculum. Thesenior capstone design course sequence includes two semesters, small project teams (i.e., 3-4students), and primarily industry sponsored projects. Results from the capstone work, including:results, papers, and presentations will be used to classify the state of engineering economymethods used in the design process. This work is significant since student teams are using theindustry sponsor’s preferred metrics and performance measures to determine economic success(or failure) of a design, rather than the classical methods provided by classroom instruction in thetraditional engineering economics course; which is generally taken before the senior capstonesequence begins.

Dixon, G., & Wilck, J. (2014, June), Integrating Economic Analysis into Capstone Design Paper presented at 2014 ASEE Annual Conference & Exposition, Indianapolis, Indiana. 10.18260/1-2--20663

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