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: Operations Technology
Repeatable Credit: No
Offered Online: No

Prereqs: OPT 1198 AND MAT 1280 

Outcomes

  • 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, breakeven 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