ISE 2208 Engineering Technology Economics & Cost Analysis
Learn the types of costs such as Direct Labor, Materials and Outside Services, Overhead, and Selling, General and Administrative expenses (SG&A) that are used to determine the pricing and profitability of products and services. Apply basic economic cost concepts, decisions, analysis and evaluations as applied to engineering design, production, maintenance and quality control.
Division: Science, Technology, Engineering and Mathematics
Department: Industrial & Systems Engineering Technology
Repeatable Credit: No
Offered Online: No
Prereqs: ISE 1101 and MAT 1470 or MAT 1580
Outcomes
- Explain how the types of costs, including direct labor, direct material, and overhead costs can be used to develop the pricing and understand the profitability of products and services.
- Demonstrate an understanding of several cost analysis and control tools, including budgets, break-even points, and cost-volume-profit relationships.
- Apply economic analysis methods to assess the Return on Investment (ROI) and Cash Flows on capital projects.
Credit Hours: 3
Classroom Hours: 3