Enhancing The Learning Of Engineering Economy With Innovative Technology And Teaching

As one migrates from the traditional classroom instruction using black or white boards to the use of computers, many other forms of technology have become available—both as hardware and software—that can enhance teaching and learning. This paper discusses the incorporation of several such innovations, including information transfer, application of spreadsheets (Excel) as a problem-solving tool, and pedagogical adaptation to current needs, into the teaching of engineering economy, a course required in many engineering programs. During the last decade, engineering economy text books have gradually introduced the use of Excel in solving these problems. However, most solved examples shown in these books still use formulas or factors and interest tables. Over the semester, the course discussed in this paper moves gradually from solving problems using a combination of traditional methods and Excel to using only Excel. By the end of the semester, students take exams and solve even complex problems using Excel only. This approach should prove to be valuable to the students when they enter the working world, where finding textbooks and business calculators are an exception for the engineer, but having computers with Excel or any other spreadsheet software is common place. With an eye toward the needs of a changing student population, presentation and delivery of course materials have also been redesigned to enhance interest and learning, and to make course materials more accessible than previously possible. This paper discusses the need for change in the teaching of engineering economy, specific technological and pedagogical methods used, the quantitative and qualitative testing and results of changes, plans for ongoing research, and recommendations.