2026 ASEE Annual Conference & Exposition

This work-in-progress paper presents the design, implementation, and ongoing evaluation of a scaffolded, project-based module developed for an undergraduate Engineering Economic Analysis course. The instructional innovation aims to cultivate the entrepreneurial mindset (EM) through economic decision-making that explicitly integrates Curiosity, Connections, and Creating Value, the three foundational dimensions of EM. Students engage in authentic, team-based decision challenges that mirror professional engineering contexts, where technical feasibility alone does not determine success. Each team defines a real-world economic problem, investigates multiple alternatives, and applies key engineering economy techniques including present worth, equivalent uniform annual worth, and internal rate of return to identify and justify the most value-generating alternatives.
The project embeds stakeholder perspectives such as market, sustainability, and ethical considerations at every phase. Structured deliverables, rubrics, and feedback loops guide students from proposal development through data analysis and presentation, emphasizing communication and reflection as integral to technical rigor. Assessment follows a mixed-methods approach, combining quantitative pre/post surveys with qualitative data from written reports, presentations, and interviews to evaluate growth in EM attributes. Preliminary findings suggest the module enhances students’ ability to formulate high-quality economic questions, integrate multidisciplinary evidence, and articulate recommendations that optimize both financial and societal value.
The paper contributes a research-informed model for embedding entrepreneurial mindset development in engineering economy instruction through scaffolded experiential learning. Insights from this study will inform iterative improvements to the module and future cross-institutional collaborations on evidence-based strategies for aligning engineering economic education with professional decision-making practice.