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Teaching Time Value of Money: A Few Winning Strategies from the Front Lines

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2014 ASEE Annual Conference & Exposition


Indianapolis, Indiana

Publication Date

June 15, 2014

Start Date

June 15, 2014

End Date

June 18, 2014



Conference Session

Innovations in Teaching Engineering Economy

Tagged Division

Engineering Economy

Page Count


Page Numbers

24.1172.1 - 24.1172.14



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Paper Authors


Gillian M. Nicholls University of Alabama, Huntsville

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Dr. Gillian M. Nicholls is an assistant professor of industrial and systems engineering and engineering management and a 2009-2010 Gray Faculty Fellow at the University of Alabama in Huntsville. Her research interests are in applying statistical analysis and optimization to supply chain management, transportation management, and engineering education. She holds the B.S. in Industrial Engineering (Lehigh University), Masters in Business Administration (Penn State University), M.S. in Industrial Engineering (University of Pittsburgh.), and Ph.D. in Industrial Engineering (University of Pittsburgh). Prior to entering academia, Dr. Nicholls was a practicing industrial engineer in the freight transportation industry.

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Neal A Lewis University of Bridgeport

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Neal A. Lewis received his Ph.D. in engineering management in 2004 and B.S. in chemical engineering in 1974 from the University of Missouri Rolla, and his MBA in 2000 from the University of New Haven. He is an associate professor in the School of Engineering at University of Bridgeport. He has over 25 years of industrial experience, having worked at Procter & Gamble and Bayer. Previously he taught at UMR, UNH, and Marshall University.

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Ted Eschenbach P.E. University of Alaska Anchorage

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Dr. Ted Eschenbach, P.E. is the principal of TGE Consulting, an emeritus professor of engineering management at the University of Alaska Anchorage, and the founding editor emeritus of the Engineering Management Journal. He is the author or coauthor of over 250 publications and presentations, including 18 books. With his coauthors he has won best paper awards at ASEE, ASEM, ASCE, & IIE conferences, and the 2009 Grant award for the best article in The Engineering Economist. He earned his B.S. from Purdue in 1971, his doctorate in industrial engineering from Stanford University in 1975, and his masters in civil engineering from UAA in 1999.

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Teaching Engineering Economy and Finance: A Few Winning Strategies from the Front LinesLike most professors, we are constantly making changes to our classes by using new texts, tryingnew teaching techniques, and experimenting with new modes of instruction. Sometimes thesechanges do not work very well, and we discontinue or revise them until they work. Sometimesthey work so well that we would like to share our experience with others to repay the debt weowe to the many who have described what has or has not worked for them. This paper captures some of our more successful examples in teaching engineeringeconomics and finance courses. Each of the authors has tried to improve student engagement.We believe that this contributes to improved learning in subjects that many students considerboring. Each author teaches at a different university with varying class sizes and diverse studentgroups. Each of the three perspectives shared here is therefore unique, and each offers a differentset of ideas for engineering economics and finance instructors. Strategies include the use ofmemorable metaphors, spreadsheet based learning, clickers, online homework, and assignmentswith high relevance to students. Recommendations for application in a variety of settings arediscussed.

Nicholls, G. M., & Lewis, N. A., & Eschenbach, T. (2014, June), Teaching Time Value of Money: A Few Winning Strategies from the Front Lines Paper presented at 2014 ASEE Annual Conference & Exposition, Indianapolis, Indiana. 10.18260/1-2--23105

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