OPT 2208 Engineering Technology Economics & Cost Analysis
Basic economic cost concepts, decisions, analysis and evaluations as applied to engineering design, production, maintenance and quality control.
Division: Science, Mathematics and Engineering
Department: Industrial & Systems Engineering Technology
Repeatable Credit: No
Offered Online: No
Prereqs: MET 1131 or MAT 0600 OR MAT 0100 OR MAT 1110 OR MAT 1460
- Describe the various types of costs and how they react to different types of business situations, including standard costs and overhead costs.
- Demonstrate an understanding of several cost analysis and control tools, including budgets, break even points and cost-volume-profit relationships.
- Describe and demonstrate an understanding of the concept of the time value of money.
- Apply economic analysis methods related to the time value of money and investment capital spending cash flows to a real world or simulated situation.
Credit Hours: 3
Classroom Hours: 3