Teaching engineering economy in the context of design

Engineering economy is a subset of engineering that involves the application of technical and economic analysis, with the goal of deciding which course of action best meets performance criteria and simultaneously uses scarce capital in a prudent manner. The impact of engineering economy principles on an organization is maximized when introduced early in the process of designing a product, process or system. Here, the authors describe how coursework is being developed at the Georgia Institute of Technology and Virginia Polytechnic Institute and State University (USA) to introduce students to fundamental engineering economy subjects (e.g. statics/dynamics, thermodynamics, electromechanical systems and engineering economy) through the framework of design. It is hoped that sophomores and juniors will be drawn to an increased understanding of these important topics because of the realistic and exciting challenges of engineering design