SPECIAL ISSUE CALL FOR PAPERS 'FINANCIAL ENGINEERING AND ITS IMPACT ON THE TEACHING, RESEARCH, AND PRACTICE OF ENGINEERING ECONOMICS'

摘要

While actively practiced for three decades since the introduction of the Black-Scholes options pricing model, "financial engineering" has recently generated considerable interest outside of traditional finance departments and is now attracting the attention of engineers, physicists, and mathematicians. This, of course, has resulted in financial engineering topics now being taught and researched within industrial engineering, engineering management, systems engineering, operations research, and mathematics departments. Specifically, this has created both opportunities and challenges as financial engineers explore ways to integrate financial engineering topics with engineering economics and project valuation. The current impact of these changes is unclear, but the forces of these changes have nonetheless been put in motion. It is therefore necessary to better define the relationship between financial engineering and engineering economics. Common links between the two areas include aspects of capital budgeting and risk and uncertainty, but both approach each area from different perspectives. The goal of this special issue is to explore the relationship between financial engineering and engineering economics, discussing not only the commonalities and differences, but also providing some direction on the impact that the increase of interest and use of financial engineering topics is having on the research and practice of engineering economics.