Engineering Economy Division
August 2014

Message from the Division President

Mingzhou Jin

For the upcoming year, the EED aims to continue to be your world-renowned, preferred knowledge society for engineering economy and transformation for practitioners and academics. We will launch a new award to promote engineering economic analysis in undergraduate senior designs and have our second-year Best Engineering Economy Teaching Award. In addition, we are planning several webinars. To make our division the best, we need volunteers from our members, especially from the industry and students. If you are interested, please contact me at

Division leadership 2014-2015

Mingzhou Jin,  University of Tennessee  
Immediate Past President  
Gillian Nicholls, University of Alabama in Huntsville

Program Chair
MAJ Isaac Faber, United States Military Academy

Communications Director
Guiping Hu, Iowa State University

Board Members
M. Affan Badar, Indiana State University
Gene Dixon, East Carolina University
Steve Hsueh Ming Wang, University of Alaska Anchorage

Wellington Award Committee
Leland Blank, 2014-2017, 2011-2014, Chair
Joseph Hartman (2013-2016)
Richard Bernhard (2012-2015)
Gillian Nicholls 2015 (as Past-President)
Natalie Scala 2014 (as Past-President)

Best Engineering Economy Teacher Award 2014 Winner - Dr. Kailash Bafna

The Engineering Economy Division of IIE is pleased to announce that the inaugural winner of its annual award recognizing excellence in teaching Engineering Economy is Dr. Kailash Bafna, professor in the Department of Industrial and Manufacturing Engineering at Western Michigan University. Dr. Bafna has taught engineering economy for more than three decades. For the past ten years, he has experimented with new instructional methods to meet the learning needs of our evolving student population. Through his continually evolving methodology of integrating media, technology, and peer mentoring techniques into his courses, Dr. Bafna is helping to define a new approach to effectively teach this subject area to today's computer-driven generation. This work has resulted in a significantly lower failure rate in his courses and an increase in his overall course grade-point average. He has enthusiastically helped to train his colleagues by sharing his adapted techniques through publications and presentations.
(l to r) Mingzhou Jin, Division President; Dr. Kailash Bafna, Award Winner; Gillian Nicholls, Division Past-President

Dr. Bafna presented his paper of "Using Elearning for On-line and Hybrid Delivery of Engineering Economy" and took part in the discussion at the session of "Round Table Discussion: Engineering Economy Education in the 21st Century" in the Engineering Economy Track at the IIE Annual Conference & Expo 2014 in Montreal, Canada.  

Best Paper Award



"Is the MIRR a Suitable Indicator for Projects with Multiple Outflows?"


  •  Nikolay Yu. Kulakov (The Moscow Institute of Physics and Technology, Moscow, Russia) 
  • Anastasia N. Kulakova (The Higher School of Economics, Moscow, Russia)
Wellington Award
Dr. John A. White Jr., Industrial Engineering, University of Arkansas
Dr. White was recognized at the Honors & Awards Banquet at the IIE Annual Conference & Expo in Montreal, Canada, May 31 - June 3.
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. Log in here to join the Division.

Contribute to the newsletter

If you have announcements, know people who have been honored in our field, or have news or articles that you feel will be interesting to our division members- please submit to:
Guiping Hu
Newsletter Editor

Volunteers are welcome for various division activities. Please contact Mingzhou Jin to express your interest.