Engineering Economy Techniques
Karri Weston
All articles published by MDPI are made immediately available worldwide under an open access license. No special permission is required to reuse all or part of the article published by MDPI, including figures and tables. For articles published under an open access Creative Common CC BY license, any part of the article may be reused without permission provided that the original article is clearly cited. For more information, please refer to
Feature papers represent the most advanced research with significant potential for high impact in the field. A Feature Paper should be a substantial original Article that involves several techniques or approaches, provides an outlook for future research directions and describes possible research applications.
Abstract: Collaborative project-based learning aims to get students to take responsibility for their knowledge processes. The objective of this research is to analyze the viability of applying circular economy techniques for the design and development of products, through learning based on collaborative projects in industrial engineering. A survey was carried out between 2015 and 2019 on final year students of industrial engineering in Spain, from five different academic years. The responses obtained were analyzed statistically. The results indicate that the students who had more previous knowledge about the circular economy, valued its relevance for the design and development of products as well as for the practice of the profession more. In addition, it was demonstrated that the implementation of circular economy strategies in the design and development of products through collaborative projects allows the acquisition of different knowledge: eco-design, product planning and distribution, reuse, recycling, etc. Moreover, most of the students considered that the circular economy should be a complementary discipline and a transversal competence. Keywords: educational competences; project engineering; project management; higher education; competences; collaborative models; circular economy; SDG; project-based learning
Gonzlez-Domnguez J, Snchez-Barroso G, Zamora-Polo F, Garca-Sanz-Calcedo J. Application of Circular Economy Techniques for Design and Development of Products through Collaborative Project-Based Learning for Industrial Engineer Teaching. Sustainability. 2020; 12(11):4368.
Gonzlez-Domnguez, Jaime, Gonzalo Snchez-Barroso, Francisco Zamora-Polo, and Justo Garca-Sanz-Calcedo. 2020. "Application of Circular Economy Techniques for Design and Development of Products through Collaborative Project-Based Learning for Industrial Engineer Teaching" Sustainability 12, no. 11: 4368.
The purpose of the award is to recognize excellence in industry practice of engineering economy (EE) concepts. The objectives of the award are to show appreciation to the industry practitioners of IISE who are outstanding in implementing EE concepts and techniques, as well as encourage practitioners, via recognition possibility, to raise standards in the practice and dissemination of EE concepts in engineering.
The course aims to provide the students the advanced concepts of engineering economic analysis and various tools to solve the capital investment problems. The course will address how to model and solve the engineering economy problems in various practical situations. The topics cover cost/revenue estimating techniques, discounted cash flow analysis techniques, sensitivity and breakeven analysis, depreciation and after-tax analysis, decision making under uncertainty (the use of simulation, probability theory, decision rules/criteria) and formulation of capital investment problems using mathematical programming.
A study of methods and techniques used in determining comparative financial desirability of engineering alternatives. Includes time value of money (interest), depreciation methods and modern techniques for analysis of management decisions.
Time value of money; economic study techniques, depreciation, taxes, retirement, and replacement of engineering facilities. This course may be subject to Enforced Prerequisites that restrict registration into the course. Check the offerings below for more information.
Textbook list available at osubeaverstore.com
The OSU Beaver Store website contains the most up-to-date information currently available on the textbook(s) selected for this course (current term only). No textbooks will be listed if your instructor has not yet provided their textbook order to the bookstore.
IME 101 - Introduction to Industrial & Manufacturing Engr (1 hour)
Survey of industrial and manufacturing engineering. Introduction to IME and MFE techniques and tools. Not open to students with credit in any 200-level or above IME, IME, or MFE course.
IME 110 - Introduction to Computers & Computational Analysis (3 hours)
Use of various modern computing technologies, including numerical analysis software and Internet-based applications. Coding of numerical algorithms as applied to engineering functions. CoRequisite: MTH 115 or IMT 212 or consent of instructor
IME 200 - Engineering Co-Op (0 hours)
Core Curr. EL
Full-time cooperative education assignment for manufacturing engineering and industrial engineering students who alternate periods of full-time school with periods of full-time academic or career-related work in industry. Satisfactory/Unsatisfactory. Prerequisite: Sophomore standing in the College of Engineering and Technology, 2.0 overall grade point average at Bradley, approval of engineering and technology Co-op coordinator and Co-op faculty advisor.
IME 241 - Manufacturing Fundamentals (3 hours)
Fundamental knowledge and skills to work in the manufacturing field. The role, function and constraints of product design and process planning within a manufacturing system, and the basic principles of different manufacturing processes. The elements of physical manufacturing environment and the basic properties of different types of production materials. Not open to students with credits in any 300- or 400-level IME or IMT course. Prerequisite: IME 103 or consent of instructor
IME 300 - The World of Metals (3 hours)
Gen. Ed. TS
Designed for students concerned with metals and those with a general interest in the history of the metals upon which all civilization since the Stone Age has relied. Modern metallurgical technology, heat treatment, periodic table of elements, aspects of materials science and engineering, and history of technical procedures. Draws upon many modern and ancient texts. Not open to majors in engineering and technology.
IME 301 - Engineering Economy I (3 hours)
Analysis of economic aspects of engineering decisions. Effect of interest and other cost factors on evaluation of engineering alternatives. Roles of mathematical models and other techniques in economical design and test of products. Introduction to value engineering. Prerequisite: MTH 121 or IMT 212
IME 302 - Introduction to Quality Engineering (3 hours)
Definition of quality, need for quality in products and services, methods of assuring quality, fundamentals of probability and statistics, process control methods, acceptance sampling, designing experiments, a system for quality. Not open to IME majors. Prerequisite: One semester college calculus.
IME 311 - Introduction to Engineering Statistical Methods (3 hours)
Engineering data collection and analysis; discrete and continuous probability models; confidence intervals; tests of hypotheses; regression analysis; essentials of statistically designed experiments; engineering application of statistical methods. Extensive use of statistical computer software. Prerequisite: MTH 122.
IME 312 - Engineering Statistical Methods (3 hours)
Extension of IME 311: Probability models, multi-variable analysis, step-wise design of statistical experiments, multiple regression, response surface analysis, distribution of random vectors, function of random variable sample statistics. Required semester project. Extensive use of statistical computer software. Prerequisite: IME 311 with C or better.
IME 313 - Operations Research I (3 hours)
Philosophy and techniques of operations research. Emphasis on elementary model building and concepts of optimization, structure of problem solving; linear programming, transportation and assignment algorithms; game theory; network analysis, branch and bound theory; dynamic programming; decision theory involving one stage problems. Prerequisite: MTH 122
IME 341 - Introduction to Manufacturing Processes (3 hours)
A laboratory-intensive introduction to manufacturing machinery and processes, tooling, and safety. Product specification interpretation and associated planning for tooling and methods. Material removal; forming operations; casting and molding of metals and plastics; joining techniques. Prerequisite: IME 103
IME 385 - Introduction to Logistics and Supply Chain (3 hours)
Logistics terms and definitions; logistics demand forecast; transportation decision models; supply chain concepts, analyzing, designing, and implementing logistics systems. Prerequisite: IME 302 or equivalent or consent of the instructor