In-House Courses

In-House Courses

Economic Evaluation and Investment Decision Methods


Asynchronous Online Courses

New for 2021

Economic Evaluation and Investment Decision Methods is delivered in an asynchronous online format through Colorado School of Mines. This course is completed at your own pace, and participants will have access to John Stermole and Andy Pederson for questions during the course.

Group discounts are available for 10 or more participants.

Register for the course here.

Synchronous Online Courses

Investment Evaluation Corp (IEC) offers a 2.5 or 4-day course. The 2.5-day course covers economic criteria on a before-tax basis. The 4-day course includes select tax material on an after tax basis.

In addition to in-person in-house courses we are now offering an online asynchronous course option as well.

Finally, if the in-person or online courses do now suit your needs 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 with any questions.


Mr. John M. Stermole

John M. Stermole, age 63, 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 16th Edition, 2019, 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 (5) “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 670 times to the companies and government agencies and institutions listed below.

John Stermole was an Associate Teaching Professor at Colorado School of Mines and taught this subject for the Division of Economics and Business (Mineral Economics) and the Division of Chemical and Biological Engineering.  The courses “Engineering Economics,” or “Economic Evaluation and Investment Decision Methods” were presented to junior, senior, and graduate level students. From 1996 thru 2010, 2012, 2015 and again in 2016, 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 issues for over 20 different countries. John officially retired from teaching at Colorado School of Mines in 2017.  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 35, 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. In 2017 Andy was added as an author on the course textbook “Economic Evaluations and Investment Decision Methods” 15th Edition.

In 2016 Andy was promoted to Teaching Associate Professor at Colorado School of Mines in the Division of Economics and Business. 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 a Teaching Associate Professor, Andy lectures and works on 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.  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 15th and 16th editions 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.

ARCO Oil and Gas Company

Arch Coal Inc.

Australian Mineral Foundation

Barr Engineering

Barrick Gold Corporation

Basin Electric Co.

BHP Minerals

Burlington Resources

Cambior Inc.

Chaparral Resources

Chesapeake Energy



Cloud Peak

Colorado Interstate Gas

Conoco Inc.

CuuLong Joint Operating Company

Cyprus Mineral Companies

Delta Airlines

Denbury Resources

Devon Energy

Diavik Mines Inc.

Dow Chemical Co.

Doyon Utilities


Dubai Petroleum Inc.

Duke Energy

Dyno Nobel

Echo Bay Minerals

E.I. DuPont Co.




Exxon (Intercor), Columbia

FERC (Federal Energy Regulatory Commission)

Fleur de Lis Energy

Freeport McMoran

Greens Creek Mining

Hecla Mining

Hess Corporation

HighMount Exploration

Homestake Mining

INCO Limited

Kennecott Energy Company

Kerr McGee Corp.

Kinder Morgan

Kinder Morgan CO2

Kinross Gold

Kosmos Energy

Korean National Oil Company

Loyola University

Luscar Coal Co., Ltd.

Marathon Oil Company

Martin Marietta Co.

Merit Energy

Mibrag Coal

Midland College


Minera Escondida Ltd., Chile

Newfield Exploration

Newmont Mining, Nevada

Newmont Mining, Batu Hijau

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

SSR Mining

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

Western Gas Resources

WPX Energy