Engineering Economy Division

Members are involved in economic and investment analysis. The key concern of these industrial engineers is to improve productivity and quality through public and private sector decision making about the economic feasibility and justification of investments in technological innovations. Members receive Engineering Economy Solutions, a periodic electronic newsletter containing information on important new cost reduction techniques. As of October 2013 the division has 3,408 members, including 2,295 students and 1,113 professionals.

The Engineering Economist

This referred journal includes articles, case studies, surveys, book and software reviews, and reader comments that represent current research, practice, and teaching involving capital investment. It is published quarterly by a joint partnership of the Engineering Economy Divisions of the American Society of Engineering Education and the Institute of Industrial Engineers.

2014 Wellington Award Recipient Announced - John White

Congratulations to John White, recipient of the 2014 Wellington Award. The Wellington Award recognizes outstanding contributions in the field of engineering economy. The award is named after Arthur M. Wellington, author of the 1887 book The Economic Theory of Railroad Location. Click here to view past winners of the award.

Best Engineering Economy Teacher Award 2014 Winner - Dr. Kailash Bafna

The Engineering Economy Division of IIE is pleased to announce that the inaugural winner of its annual award recognizing excellence in teaching Engineering Economy is Dr. Kailash Bafna, professor in the Department of Industrial and Manufacturing Engineering at Western Michigan University. Dr. Bafna has taught engineering economy for more than three decades. For the past ten years, he has experimented with new instructional methods to meet the learning needs of our evolving student population. Through his continually evolving methodology of integrating media, technology, and peer mentoring techniques into his courses, Dr. Bafna is helping to define a new approach to effectively teach this subject area to today’s computer-driven generation. This work has resulted in a significantly lower failure rate in his courses and an increase in his overall course grade-point average (GPA). He has enthusiastically helped to train his colleagues by sharing his adapted techniques through publications and presentations.

Dr. Bafna will present his paper of "Using Elearning for On-line and Hybrid Delivery of Engineering Economy" and join the discussion at the session of "Round Table Discussion: Engineering Economy Education in the 21st Century" in the Engineering Economy Track at the IIE Annual Conference & Expo in Montreal, Canada, May 31 - June 3.

Division Leadership 2013-2014

Gillian Nicholls, University of Alabama in Huntsville 

Immediate Past President
Natalie Scala, Towson University

Program Chair
Mingzhou Jin, University of Tennessee

Communications Director
Major Isaac J. Faber, United States Military Academy

Board Members
M. Affan Badar, Indiana State University
Steve Hsueh Ming Wang, University of Alaska-Anchorage

Wellington Award Committee Chair
Leland Blank, Professor Emeritus, Texas A&M University; currently in United Arab Emirates at American University of Sharjah 

Wellington Award Committee Member
Joseph Hartman, University of Massachusetts-Lowell 

2014 ISERC Conference

ISERC 2014, May 31 – June 3, Montreal Canada
Join the division at the ISERC and Applied Solutions conference in Montreal this year. There has been a great response this year: 45 total submissions including 39 research abstracts. This is a historic high water mark for the division!

The Engineering Economy Track will cover the breadth and depth of various Engineering Economy disciplines. The track attracts papers and abstracts in the general areas of productivity and quality improvement through decision making regarding the economic feasibility and justification of investments. Topics may include investment analysis, technology innovation, financial engineering, life-cycle cost analysis and management, engineering economy education, and prices and portfolios. If you have any further questions about the track, please contact track chairs Mingzhou Jin or Guiping Hu.

We are also excited about finding a best paper, which will be awarded during the conference.

Call for Webinars

Fall 2013 – Spring 2014
Do you have a paper, topic, or idea that you want to socialize? Do you want to showcase techniques in the classroom or novel approaches to research? If so then a webinar on behalf of the EE division might be for you. This is a great opportunity to reach out to the entire IIE membership with important topics and interesting presentations.

This past year the division held three webinars on risk in economic choices and had an average signup of 100 participants. Volunteers are welcome for various division activities. Please contact Gillian Nicholls to express your interest.

Call for Student Volunteers

Fall 2013 – Spring 2014
We are looking for one or more undergraduate or graduate students to get involved with the division. We have a very large student population and want to be able to connect with them better. In particular we could use some help with social networking! If you are a LinkedIn or Facebook pro then let us know. This is a great opportunity to expand your own network and build your CV.

Join us!

If you are not a current member of the division, please join us! We are an active group with a dedicated leadership board and welcome your input. For more information, visit our website or log in here to join the division!

Volunteers are welcome for various division activities. Please contact Natalie Scala to express your interest.

Division Bylaws updated

The updated division bylaws were approved by the Engineering Economy Professional members on April 26, 2011. To view the division bylaws, click here.

Engineering Economy Division Board

Volunteer leadership is the heart of IIE and its technical divisions.