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Using Concepts From Statics And Mechanics Of Materials To Teach Engineering Economy

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Conference

2004 Annual Conference

Location

Salt Lake City, Utah

Publication Date

June 20, 2004

Start Date

June 20, 2004

End Date

June 23, 2004

ISSN

2153-5965

Conference Session

Interdisciplinary Approaches

Page Count

11

Page Numbers

9.1371.1 - 9.1371.11

Permanent URL

https://peer.asee.org/13794

Download Count

13

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Paper Authors

author page

Jessica Matson

author page

David Elizandro

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Abstract
NOTE: The first page of text has been automatically extracted and included below in lieu of an abstract

Session 2439

Using Concepts from Statics and Mechanics of Materials to Teach Engineering Economy David Elizandro, Jessica Matson Tennessee Technological University

Abstract

The spectrum of topical knowledge ranges from an awareness of a lack of knowledge to application of the knowledge without thought about the implied knowledge. The acquisition of knowledge can be facilitated when previous knowledge or experience can be applied to the learning process.

In Engineering Economy, the toolbox calculations are based on algebraic expressions for the relationship between present worth, future worth, or annual payments as a function of interest rate and number of compounding periods. For a basic toolbox equation with four parameters (e.g., P, A, F, i, or n), it is intuitive for engineering students that three of these parameters must be specified in order to solve for an unknown (i.e., one equation and one unknown). These problems may be solved without much thought about the implied knowledge.

After students become familiar with the basic toolbox calculations, the concept of Equivalence is introduced. This topic is based on a definition and is therefore not as intuitive. It is apparent that there is a different rate of learning and therefore ability to apply the concept. As students become familiar with the concept, errors as well as the time needed to solve an Equivalence problem decrease. The generally accepted approach is to teach the concept by presenting numerous applications of the definition. This paper presents an alternative by integrating the previously learned concept of moments from Statics and Mechanics of Materials. In this approach, students are able to perform the calculations with little understanding and then learn the concepts. The result is that much less time is allocated to learning these topics.

Introduction

In order to reduce the cost of higher education, engineering faculty are under pressure to reduce credit-hour requirements for their degree programs. For example, engineering programs in Tennessee recently were mandated to reduce engineering degree requirements to 128 credit hours. Faculty must carefully design degree programs that reflect these directives and at the same time minimize the potential effects of such directives on the public’s health and safety.

Elizandro and Matson1 have presented a systematic methodology for administering degree programs in this type of environment. That approach extends the ABET Criteria for Accrediting Engineering Programs2 by defining curriculum effectiveness and efficiency. Effectiveness refers to the achievement level of ABET Program Outcomes and Program Objectives, and efficiency measures the portion of the curriculum devoted to each Program Outcome and Program Objective.

An educational environment should be designed to move students from an awareness of a lack of knowledge to the application of the knowledge without thought about the implied knowledge.

Proceedings of the 2004 American Society for Engineering Education Annual Conference & Exposition Copyright © 2004, American Society for Engineering Education

Matson, J., & Elizandro, D. (2004, June), Using Concepts From Statics And Mechanics Of Materials To Teach Engineering Economy Paper presented at 2004 Annual Conference, Salt Lake City, Utah. https://peer.asee.org/13794

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