In-House Courses

In-House Courses

“Economic Evaluation and Investment Decision Methods.”



IEC offers a 3, 4 or 5-day course. The 3-day course covers economic criteria on a before-tax basis. The 4 and 5-day course includes select tax material on an after tax basis. An “executive” 1-day or 2-dy review course of select material is also available. We are happy to tailor the course to your company’s specific needs.

For course details, see the course outline. For costs, available dates and course structure please contact us.


John M. Stermole
John M. Stermole, age 58, is currently President and has served as a Director of Investment Evaluations Corporation since 1984. He received a B.S.B.A. in Finance from the University of Denver and an M.S. in Mineral Economics from the Colorado School of Mines. In addition to co-authoring the textbook, “Economic Evaluation and Investment Decision Methods,” now in the 14th Edition, 2014, other publications by Mr. Stermole include; (1) “Mining Royalties, A Global Study of Their Impact on Investors, Government, and Civil Society, 2006, by The International Bank for Reconstruction and Development, The World Bank. (2) The Global Mining Taxation Comparative Study, 1997, published by the “Institute for Global Resources Policy & Management, Colorado School of Mines,” the (3) “Northwest Mining Association,” (4) “Heavy and Highway Construction” and (4) “The Business of Petroleum Exploration,” published by the American Association of Petroleum Geologists (AAPG),” 1992 and re-printed in 1993. Since 1986, John has presented the course “Economic Evaluation and Investment Decision Methods” more than 500 times to the companies and government agencies and institutions listed below.

John Stermole is an Associate Teaching Professor at Colorado School of Mines and teaches this subject for the Division of Economics and Business (Mineral Economics) and the Division of Chemical and Biological Engineering. Courses in “Engineering Economics,” or “Economic Evaluation and Investment Decision Methods” are presented to junior, senior and graduate level students. From 1996 thru 2010 and again in 2012, CSM graduating Senior’s recognized Mr. Stermole as one of the “Outstanding Faculty Members” at Colorado School of Mines. In 1997 John was appointed as a Fellow to the Institute for Global Resources Policy and Management at the Colorado School of Mines where his work focused on modeling mining taxation sensitivity for over 20 countries. From 1998 thru 2005 John also taught this subject matter as an Adjunct Professor at the University of Denver, Sturm College of Law, in their Natural Resource and Environmental Law Graduate Program.

John Stermole gained nearly four years of industry experience at Lowdermilk Construction Co. (also Tectonic Construction), applying the concepts of engineering economics to heavy construction projects including state and interstate highway projects, oil shale mine site development and equipment repair and replacement analyses.

Andrew H. Pederson
Andrew Pederson, age 30, has been working with Investment Evaluations Corporation since March of 2010. In 2007 he received his B.A. in Economics from Pacific Lutheran University and has a Masters degree in Taxation from Denver University in the College of Law, August 2012.

From 2012 thru 2015 Andy has worked as an Adjunct Professor in the Division of Economics and Business teaching Engineering Economics to undergraduate students at Colorado School of Mines (CSM). In 2011 Andy served as a Teaching Assistant for the academic courses taught in the Division of Economics and Business, and the Division of Chemical and Biological Engineering at CSM. As an Adjunct Professor, Andy lectured and worked in course development and assisting students in building their understanding of the concepts presented in class. More than 800 combined undergraduate and graduate students have taken this course in each of the last two years at CSM.

While working with Investment Evaluations Corporation, Andy has lectured in the Colorado School of Mines public short courses, as well as in-house courses for the companies listed below. During those courses he provided lecture and addressed questions during problem solving. Andy is also responsible for website support, course management and revision work leading in part to the 14th Edition of the course textbook.

Prior to working for Investment Evaluations Corporation Andy worked for the YMCA of Pierce and Kitsap County’s where Andy gained management and budgeting experience, managing a branch, writing the budget, and developing and teaching programs for adults as well as running youth development programs for inner city youth.

List of companies who have In-House Courses in the past

Access Midstream
Albian Sands
Alyeska Pipeline Service Co.
Amerada Hess Corporation
Amoco Oil Co.
Anadarko Petroleum Co.
Anglo Gold North America
Apache Corp.
Arch Coal
ARCO Oil and Gas Company
Australian Mineral Foundation
Barrick Gold Corporation
Basin Electric Co.
BHP Minerals
Burlington Resources
Cambior Inc.
Chaparral Resources
Chesapeake Energy
Cloud Peak
Colorado Interstate Gas
Continental Resources
Conoco Inc.
CuuLong Joint Operating Company
Cyprus Mineral Companies
Delta Airlines
Denbury Resources
Devon Energy
Diavik Mines Inc.
Dubai Petroleum Inc.
Duke Energy
Dow Chemical Co.
Echo Bay Minerals
E.I. DuPont Co.
Exxon (Intercor), Columbia
Greens Creek Mining
Hess Corporation
HighMount Exploration
Homestake Mining
INCO Limited
Kennecott Energy Company
Kerr McGee Corp.
Kinder Morgan CO2
Kinder Morgan
Korean National Oil Company
Kosmos Energy
Loyola University
Luscar Coal Co., Ltd.
Marathon Oil Company
Martin Marietta Co.
Merit Energy
Mibrag Coal
Midland College
Minera Escondida Ltd., Chile
Newmont Mining, Nevada
Newmont Mining, Batu Hijau
Newfield Exploration Corp.
North American Coal Co.
Occidental Petroleum
PanEnergy Corporation
Peabody Energy
PetroStar Energy Co.
Phillips 66
Pioneer Resources
Polish Academy of Sciences
P.T. Arutmin (BHP), Indonesia
Rio Tinto Energy
Rio Tinto Minerals
RMAG, (Division of AAPG)
Round Mountain Gold
Southern California Edison
Southern Natural Gas Co.
SPE, Bakersfield, CA
Stone and Webster Inc.
Suncor Inc., Oil Sands Group
Syncrude Canada Ltd.
Texaco, Inc.
The Coteau Properties, Inc.
U.S. Bureau of Land Mgmt
U.S. Bureau of Mines
Washington Gas
WPX Energy
Western Gas Resource