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.
Division Leadership 2013-2014
Gillian Nicholls, University of Alabama in Huntsville
Immediate Past President
Natalie Scala, Towson University
Mingzhou Jin, University of Tennessee
Major Isaac J. Faber, United States Military Academy
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 ‘Outstanding Teacher’ Nominations
Best Engineering Economy Teacher Award
This year will be the first in which the division offers recognition to an outstanding teacher of engineering economy. Nominations must include the following:
- 3 semesters of experience
- Course syllabus
- Letter from a student
- Letter from the nominee’s chair
This is an excellent opportunity to recognize those who are working tirelessly to ensure the discipline of engineering economy is preserved for future generations. If you have a nomination please contact Mingzhou Jin at firstname.lastname@example.org by March 15. This award will be given at the 2014 ISERC. Teaching engineering economic principles is important. Engineers must learn to evaluate engineering design alternatives to select the best option. It’s also critical to making sound financial decisions in other arenas. For example, the NY Federal Reserve Bank’s third quarter report of household debt and credit indicates that student loan balances increased to a record high of $1.027 trillion as of Sept. 30, 2013. The 90+ day delinquency rate rose to 11.8 percent. This has sobering implications for the future. Students need to understand how loan decisions affect their education and career prospects.
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.
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.
Volunteer leadership is the heart of IIE and its technical divisions.