Introducing Decision Making Under Uncertainty and Strategic Considerations in Engineering Design

Authors

  • Georgia Kosmopoulou The University of Oklahoma
  • Chintamani Jog The University of Oklahoma
  • Margaret Freeman The University of Oklahoma
  • Dimitrios V. Papavassiliou The University of Oklahoma

Abstract

Chemical Engineering graduates will face challenges at the workplace that even their peers who graduated a few years ago were not expected to face. One such major challenge is the management and operation of companies and plants under conditions of uncertainty and the need to make decisions in competitive situations. Modern developments in economics offer the tools to address this challenge with well-developed concepts, such as decision theory and financial risk analysis. In this work we describe our efforts to integrate modern economics concepts and techniques in the teaching of Engineering Design. In addition, we discuss the development of illustrative classroom experiments and case studies that can showcase such concepts.

Author Biographies

Georgia Kosmopoulou, The University of Oklahoma

Georgia Kosmopoulou is the Edith Kinney Gaylord Presidential Professor at the Department of Economics at the University of Oklahoma. She received a B.S. from the University of Piraeus and her M.S. and Ph.D. from the University of Illinois at Urbana-Champaign. Her research interests are in industrial organization, auction theory, and mechanism design.

Chintamani Jog, The University of Oklahoma

Chintamani Jog is a Ph.D. student in the Department of Economics at the University of Oklahoma. He received his B.A. degree in economics from the University of Mumbai and M.A. in economics from Gokhale Institute of Politics and Economics, Pune.

Margaret Freeman, The University of Oklahoma

Margaret Freeman is a junior in chemical engineering at the University of Oklahoma. She is also pursuing a minor in entrepreneurship for engineering majors and is the recipient of an NSF-REU fellowship at Oklahoma.

Dimitrios V. Papavassiliou, The University of Oklahoma

Dimitrios Papavassiliou is a Presidential Professor at the School of Chemical, Biological, and Materials Engineering at the University of Oklahoma. He received a Diploma from the Aristotle University of Thessaloniki, and M.S. and Ph.D. degrees from the University of Illinois at Urbana-Champaign. His research interests are in turbulent transport, transport in porous media, microfluidics, and computational transport. He has been teaching Design I during the past 10 years.

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Published

2010-09-01

Issue

Vol. 44 No. 4 (2010): Fall 2010

Section

Manuscripts