economics project and need support to help me learn.
Goal: Analyze an aspect of a Grand Challenge from an environmental and societal context with emphasis on global application. In addition, apply your engineering economics knowledge to this aspect of a Grand Challenge.
Topic: Examine an aspect of the Grand Challenge of “Making Solar Energy Economical.” The topic is too broad to consider in full, but a “piece” of this challenge will be more accessible. The final choice on the aspect is yours, but it needs to be an issue of sufficient complexity that you can apply the principles from this course in your analysis of the issue.
Analysis Methods: Pick at least 1 economic analysis method from class to include in your project. These could include the following, though there are many more (if you choose others, they must be of equal rigor):
Rate of return analysis (MARR’s for comparison: 8% return in the stock market, 4% return in public sector projects)
Uncertainty analysis (must be combined with another method, for example present worth analysis)
Sensitivity analysis (must be combined with another method, for example present worth analysis)
Taxation consequences, if you do some work ahead (must be combined with another method, for example present worth analysis)
You will use this method to develop an Excel spreadsheet addressing your chosen problem.
Paper/project due November 17:
You will produce a 3-5 page, 12 pt Times New Roman, single spaced report covering the aspect of Making Solar Energy Economical that you have selected, along with a spreadsheet containing your economic analysis. The report must be well cited and be logical. Your final grade on each portion of the analysis will be based on the ABET rubric listed below. To receive an A you must be “exemplary.” To receive a B you must be “accomplished.” To receive a C or a D you must show that you are “Developing.” If your analysis or report is “beginning”, you will fail.
For formatting questions, follow the format listed below.
Late reports will receive a 0.
Understand environmental effects of engineering solutions.
Is aware of possible impacts of engineering solutions on the environment, but does not believe that it is relevant to engineering design.
Understands the impact of engineering solutions on the environment. Does not understand how these impacts can be considered in engineering design.
Understands in general the impacts of engineering solutions on the environment. Can incorporate environmental impact issues into the design process.
Can recall in global context the impact of several engineering solutions on the environment. Can judge the acceptability of the environmental impacts of an engineering solution.
Understand societal impacts of engineering solutions
Is aware of possible impacts of engineering solutions on society, but does not believe that it is relevant to engineering design.
Understands the impacts of engineering solutions on society. Does not understand how these impacts can be considered in engineering design.
Understands in general the impacts of engineering solutions on society. Can incorporate societal impact issues into the design process.
Can recall in global context the impacts of several engineering solutions on society. Can judge the acceptability of societal impacts of an engineering solution.
Understand economic effects of engineering solutions.
Is aware of some economic impacts of engineering but not in the global context. Cannot relate the impacts to engineering solutions.
Understands the economic impacts of engineering but not in the global context. Cannot relate the impacts to engineering solutions.
Understands the economic impact of engineering on civilization and people. Can identify potential economic impacts of an engineering solution currently being proposed.
Understands the influence of engineering on civilization and the way it has improved living conditions for many people all over the world. Can identify groups of people that need to be considered when evaluating the economic impacts of an engineering solution.
Final Paper Format (SINGLE SPACED)
Title of Topic
Introduction (0.5-1 page): Provide brief introduction and background to this topic. Why are there environmental, societal, and/or economic issues? What are the different sides of these issues? Are there any current events or widely known instances of this event occurring?
You need to cite at least 10 sources, at least 5 of which must be scholarly articles or books. References need to be as unbiased as possible. They can come from news media or scholarly articles. MAKE SURE YOU CITE!
Here’s a chart that can help you. If you want to look at different angles or opinions when analyzing your topic, choose one from either side and evaluate the differences as fairly as possible.
Environmental Analysis (1-1.5 pages):
Analyze your topic from an environmental impact perspective.
Societal Analysis (1-1.5 pages):
Analyze your topic from a societal impact perspective.
Economic Analysis (0.5-1 page):
Outline your findings from your economic analysis, which will be included as a separate Excel spreadsheet.
Conclusion/Summary (0.5-1 page)
Briefly state your findings of your analysis from the different sides of the analysis. You do not have to write what side you agree with, if this is one on which you could conceivably take sides. If you want to, go for it, but the purpose of this paper is to analyze an ethical issue, not choose sides. This is not a persuasive paper.
Use whatever citations style you prefer. You must have sources – this is not an opinion piece. I prefer APA. However, any professional format will be accepted. Only providing URL’s will result in point deductions.
Introduces topic and explains what the issues are
Outline of economic analysis findings
References, properly formatted – at least 5 of which are scholarly books/articles, not including your textbook
Economic Analysis Spreadsheet (25)
Well organized and neatly formatted