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Engineering Economy Division

About the Division

Engineering Economy Division (EED) is part of the IISE. EED supports the mission of the institute, brings together members who are interested in all aspects related to engineering economy, provides member value, and promote the discipline. It also provides means to promote excellence in teaching and research for engineering economy. Focus areas include (but not limited to) asset management, capital investment analysis, financial engineering, cost/benefit analysis, prices and portfolios, real options, life-cycle cost assessment/management, energy and engineering economy, value chain management, technology replacement management, and engineering economy education. Members receive Engineering Economy Solutions, a periodic electronic newsletter containing information on important new cost reduction techniques.

Division Leadership 2018-2019

Omar Ashour President The Pennsylvania State University
Joe Wilck Immediate Past President William and Mary
Mehmet Bayram Yildirim Program Chair (President-Elect) Wichita State University
Cameron Mackenzie Communications Director Iowa State University
Karen Bursic Board Director University of Pittsburgh
Isaac Faber Board Director United States Army - Stanford, Calif.
John Jackman IISE Technical VP Iowa State University

The Wellington Award Committee:

  • Leland Blank (Chair) (2017 - 2019)
  • Ted Eschenbach (2016 - 2018)
  • James Luxhøj (2018 - 2020)
  • Joe Wilck (as immediate past president)

The Engineering Economist Editorial Board:

Three members of The Engineering Economist Editorial Board are appointed by IISE and three members are appointed by ASEE. Sarah Ryan (Iowa State University) is the editor of TEE. 

IISE’s Appointments:

  • Cameron Mackenzie (2018 – 2021)
  • Mingzhou Jin (2017 – 2019)
  • Joe Wilck (2018 – 2020)

ASEE’s Appointments:

  • Gene Dixon (2016 - 2018)
  • Jerome Lavelle (2017 - 2019)
  • Billy Gray (2018 - 2020)

The Engineering Economy Division Awards

The division currently hosts the following annual awards: 

Award Winners

At the IISE Annual Conference in May, the Engineering Economy Division presented the Wellington Award to Heather Nachtmann, Associate Dean for Research for the College of Engineering at the University of Arkansas. Dr. Nachtmann will deliver the Wellington lecture at the IISE Annual Conference in May 2019.

EED awarded Paul Lynch, Assistant Professor of Industrial Engineering at the Pennsylvania State University, Behrend College with the Engineering Economy Teaching Award. Zvikomborero Matenga at the Pennsylvania State University received the Best Student Paper Award for his paper "Pricing Dynamics of Electricity in Privatized Markets with Underdeveloped Networks."

Would Your Company Like to Sponsor One of the EED AWARDS?

Corporate sponsorship can be a great way to earn some positive publicity for your company and give back to the IISE community. If you think your company would be interested, please contact Bonnie Cameron for more information.

Submit an Article for EED Newsletter

We are continuously looking for new material to provide to our members. If you would like to contribute and want your article to be published in our newsletter, please submit your article to Bayram Yildirim, communications director of the EED Newsletter.

The article should be 2-3 pages, single-spaced, 12-point and in MS Word format. Images and figures should be sent as a JPEG format. Please include a small biography and contact information.

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 Joe Wilck 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.