Session 1139 Teaching Engineering Economy Principles Using a Web-Based, Interactive Simulation

A game simulating realistic economic decision-making was devised and integrated into a Rowan University course on engineering economics in 2001 and 2002. The activity was extremely well received and the NSF provided a CCLI grant for development of software that automates the game, making it suitable for widespread dissemination. In order to test this software, the game was integrated into an engineering economics course at the University of Kentucky during the fall 2003 semester. This paper will describe the game itself, the software, and their use in the classroom. 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 weekly throughout the semester. The required analysis grows in complexity as the students ’ knowledge base increases. The game is interactive; for example the owner of