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Session 1526

Web-Based, Interactive Software for Engineering Economy Courses

Kevin D. Dahm and Ravi P. Ramachandran Rowan University

David L. Silverstein University of Kentucky

Abstract

A game simulating practical economic decision-making has been devised and integrated into a Rowan University course on engineering economics. Web-based software that administers the game was then developed with the support of an NSF-CCLI grant. During the fall 2003 semester, the software was used in a classroom setting for the first time as part of a course at the University of Kentucky.

The game itself challenges students to not only learn engineering economic principles such as present worth, but also to use them to make realistic economic decisions in a competitive setting. Each student starts with $10,000, and is presented with a list of investment opportunities. Students apply the principles learned in class to the possible investments and make decisions, such as how much to bid on a particular item in an auction. Additional investment opportunities are introduced throughout the semester. The required analysis grows in complexity as the students’ knowledge base increases. The game is interactive; for example the owner of a factory must negotiate the price of raw materials he/she needs with the owner of a mine.

The software is web based, written using a combination of standard HTML and Active Server Pages with a Microsoft Access Database. Students use the software to manage their company, taking such actions as placing bids in an auction, borrowing money from a bank, purchasing raw materials, and setting production rates for mines and factories. Students can also use the software to access reports on the current status of their company- lists of assets, current bank balance, etc. Finally, students can propose transactions with other students using the software. Administration of the game in its current form requires very little effort on the instructor’s part; he or she only needs to run one script approximately weekly to process student’s actions.

This paper will describe the capabilities and functionality of the software in detail and discuss revisions resulting from the classroom test.

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

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Ramachandran, R., & Silverstein, D., & Dahm, K. (2004, June), Web Based, Interactive Software For Engineering Economy Courses Paper presented at 2004 Annual Conference, Salt Lake City, Utah. 10.18260/1-2--13964