Introduction of Engineering

Economy

Session 1
TSI 475
 Snapshot look : Engineering
Economy
• Ekonomi rekayasa sangat dibutuhkan dalam ilmu
teknik sipil.
• Teknik sipil berhubungan erat dengan investasi.
• Investasi mendorong kegiatan di segala bidang,
diharapkan meningkatkan kesejahteraan dan
kemakmuran masyarakat.
• Investment is about time and risk
• Decisions are made routinely to choose one alternative
over another by individuals in everyday life; by engineers
on the job; by managers who supervise the activities of
others; by corporate presidents who operate a business;
and by government offi cials who work for the public
good.
• Most decisions involve money, called capital or capital
funds , which is usually limited in amount. The decision
of where and how to invest this limited capital is
motivated by a primary goal of adding value as future,
anticipated results of the selected alternative are
realized.
• The application of economic analysis techniques
in the comparison of engineering design
alternatives is referred to as Engineering
Economy
• Engineering economy involves formulating,
estimating, and evaluating the expected
economic outcomes of alternatives designed to
accomplish a defined purpose. Mathematical
techniques simplify the economic evaluation of
alternatives.
 Relation between Economic Analysis and
The Life Cycle of Project
• It’s important to introduce economic analysis
early in the life cycle as an integral component of
the decision-making process.
Definition phase
Design phase
Construction phase
Operation phase

• The integration of economic-based decision

making into development of a project help
accomplish a smooth transition from one life-
cycle step to the next.
• The more accurate the estimates, the better the
decision when the alternative is chosen.
Kompetensi Utama
• Mahasiswa
mampu untuk
menghitung
kelayakan
ekonomis dan
finansial sebuah
investasi di bidang
konstruksi
TSI 471 EKONOMI REKAYASA
Fundamental of Engineering Economy
 1. Time Value of Money

• There are several reason why “money has

a time value”
– Money has a potential earning power
– Money has a time value because a user
may have a different utility of
consumption of dollars/rupiahs
– Money has time value because the
buying power of a dollar changes
through time
Interest

• Interest is the manifestation of the time value of

money. Interest may be defined as the cost of
having money available for use.
• Computationally, interest is the difference
between an ending amount of money and the
beginning amount.
• There are always two perspectives to an amount
of interest—interest paid and interest earned.
• Interest paid on borrowed funds (a loan)
is determined using the original amount,
also called the principal
• An interest rate is expressed as a
percentage of the original amount per unit
time.
• Interest period : 1 year in common
Soal 1 :
Suatu kontraktor X berencana meminjam ke Bank sejumlah Rp.
200.000.000,- sebagai tambahan modal membeli suatu alat
berat Y dengan tingkat suku bunga 15% setahun. Lama
pinjaman adalah 1 tahun. Berapa total pinjaman yang harus
dibayarkan

Jawab :
Bunga = 15% x 200.000.000 x 1 tahun
= 30.000.000

Total pinjaman = Bunga + pinjaman awal

= 230.000.000
 2. Economic Equivalen
• Economic equivalence is a combination of
interest rate and time value of money to
determine the different amounts of money at
different points in time that are equal in
economic value.
• As an illustration, if the interest rate is 6% per year,
$100 today (present time) is equivalent to $106 one year
from today.
• Amount accrued =100 + 100(0.06) = $106
• If someone offered you a gift of $100 today or $106 one
year from today, it would make no difference which offer
you accepted from an economic perspective. In either
case you have $106 one year from today. However, the
two sums of money are equivalent to each other only
when the interest rate is 6% per year. At a higher or
lower interest rate, $100 today is not equivalent to $106
one year from today.
•
• In addition to future equivalence, we can apply the same
logic to determine equivalence for previous years. A total
of $100 now is equivalent to $100/1.06 = $94.34 one
year ago at an interest rate of 6% per year. From these
illustrations, we can state the following: $94.34 last year,
$100 now, and $106 one year from now are equivalent
at an interest rate of 6% per year.
 Simple Interest
• Bunga sederhana : penghitungan hanya
mempertimbangkan aspek principal. Dihitung secara
linier.
• Jumlah bunga yang diperoleh sebanding dengan modal
tanpa memperhitungkan bunga yang telah
diakumulasikan pada periode sebelumnya
• Interest = (principal)(number of periods)(interest rate)

I = P.i.n

Dimana I =jumlah bunga yang terjadi

P =jumlah modal (nilai sekarang)
i =tingkat bunga pada suatu periode
n =jumlah periode
 Compound Interest

• Compound interest calculated based on

the principal plus the total amount of
interest accumulated in previous period.
F1 = P ( 1 + i . 1 )

F2 = F1 ( 1 + i . 1 ) = P ( 1 + i . 1 ) ( 1 + i . 1 ) = P ( 1 + i )2

F3 = F2 ( 1 + i . 1 ) = P ( 1 + i . 1 )2 ( 1 + i . 1 ) = P ( 1 + i )3

F4 = F3 ( 1 + i . 1 ) = P ( 1 + i . 1 )3 ( 1 + i . 1 ) = P ( 1 + i )4

Fn= Fn-1 ( 1 + i . 1 ) = P ( 1 + i . 1 )n-1 ( 1 + i . 1 ) = P ( 1 + i )n

Fn = P ( 1 + i ) n
Soal 3 :
Uang sejumlah Rp. 6 juta dimasukkan ke Bank dengan
bunga 5%/tahun. Hitung jumlah dana terkumpul setelah 6
thn untuk bunga sederhana dan majemuk

Jumlah bunga (sederhana) = 6 jt x 5% x 6 th

= 1.8 jt
Total dana (bunga sederhana) = 6 jt + 1.8 jt = 7.8 jt
Jumlah bunga majemuk = 6 jt (1+5%)6
= 8.05 jt
Total dana (bunga majemuk) = 6 jt + 8.05 jt = 14.05 jt
majemuk

12

10

Bunga
8 majemuk

4
Bunga
sederhana

PV 3 2 1
1 3 5 7 Tahun

Sumber : Manajemen Proyek (Iman Soeharto)

Contoh soal
Suatu kontraktor meminjam uang uang Rp. 100 juta untuk pembangunan
suatu gedung pertokoan dengan bunga 10 % per tahun selama 4 tahun.
Berapa hutang yang harus dibayar oleh kontraktor tersebut jika dibayar
pada akhir periode pinjaman dengan bunga majemuk ?
Besarnya jumlah bunga untuk setiap tahun adalah :
Tahun 1 : F1 = 100 (1 + 10 %) = 110,00 juta
Tahun 2 : F2 = 110 (1 + 10 %) = 121,00 juta
Tahun 3 : F3 = 121 (1 + 10 %) = 133,10 juta
Tahun 4 : F4 = 133,1 (1 + 10%) = 146,41 juta
Tabel perhitungan jumlah hutang dengan konsep bunga
majemuk

Tahun Jumlah Bunga Jumlah Hutang Jumlah dibayar

dipinjam (juta) (juta) (juta)
(juta)
0 100 0 100 -
1 - 10 110 -
2 - 110 121 -
3 - 12,10 133,10 -
4 - 13,31 146,41 146,41

Bunga yang terjadi adalah : 146,41 – 100 = Rp. 46,1 juta