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ENGINEERING ECONOMY EKONOMI TEKNIK
Dr. Ir. Manerep Pasaribu
zDig
i tal S t rat eg i e s t
o t
h e C
orez
Em
pErism .c
om
EmpEr
ism.com
Digital Strategies
to
the
Core
2
Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
o t
h e C
orez
Em
pErism .c
om
EmpEr
ism.com
Digital Strategies
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the
Core
Learning Objective Diharapkan peserta memiliki kompetensi dan kemampuan memahami dan menerapkann konsep-konsep ekonomi yang diperlukan di bidang teknik.
“An engineer who is unprepared to excel at engineering economy is not properly equipped for his or her job” (Sullivan, 2012)
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
o t
h e C
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Em
pErism .c
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Goal of the Firm 1. Profit Maximization 2. Maximization of
Shareholder Wealth
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
o t
h e C
orez
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Foundation of Financial Management
• The2 Risk-Return Trade-off –We won’t take on additional risk unless we expect to be compesated with additional return
• The time value of money —a dollar received today is worth more than a dollar received in the future
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
o t
h e C
orez
Em
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Life Cycle Step E
xpec
ted
Ret
urn
Risk
Expected return for delaying consumption
Expected return for taking added risk
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
o t
h e C
orez
Em
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Principles of Money—Time Relationship The Following topics to be discussed is :
• Return to Capital • Origin of Interest • Simple Interest • The concept of equivalence • Cash flow diagrams/tables • Interest formulas
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
o t
h e C
orez
Em
pErism .c
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Introduction • Capital berkaitan dengan kekayaan (wealth) dalam
bentuk uang atau property(milik) yang dapat digunakan untuk menghasilkan lebih besar kekayaan
• “Uang memancing Uang”. Dan engineering economy mempelajari tentang komitmen capital dalam periode yang panjang
• Uang satu dollar saat sekarang lebih berharga dari satu dollar pada waktu satu atau dua tahun yang akan datang karena ada bunga(laba) yang dapat dihasilkan
• Uang memiliki suatu nilai waktu (time value)
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
o t
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Mengapa mempertimbangkan pengembalian terhadap modal? (1) • Capital (modal) dalam bentuk uang untuk orang, mesin,
material, energi dan yang lainnya yang diperlukan dalam operasi dapat dikategorikan dalam 2 kategori yaitu : • Modal ekuitas (equity capital) yang dimiliki individu yang
telah diinvestasikan uangnya dalam proyek atau joint venture (usaha) seharusnya menerima laba.
• Modal hutang (debt capital), yang disebut juga modal pinjaman (borrowed capital), yang diperoleh dari pemberi pinjaman (lender), misalnya melalui surat-surat berharga atau pinjaman dari bank untuk investasi. Sebagai pengembaliannya seharusnya pemberi pinjaman menerima bunga (interest) dari peminjam.
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
o t
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Mengapa mempertimbangkan pengembalian terhadap modal? (2) • Terdapat hal yang sangat fundamental mengapa
pengembalian modal dalam bentuk bunga (interest) dan keuntungan (profit) yang menjadi bahan penting Ekonomi Teknik
• Bunga (interest) dan laba (profit) terus menerus memberikan penghasilan pada pemberi modal selama modal digunakan.
• Pengembalian terhadap modal sebagai suatu “incentives” dan merupakan penghasilan yang diberikan untuk resiko (risk) yang diambil oleh para investor dan pemberi pinjaman.
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
o t
h e C
orez
Em
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Interest rate Rate of return
Interest earned Interest paid
Interest Rate interest accrued per time unit Interest Rate (%) = x 100%
original amount
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
o t
h e C
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Asal mula bunga (interest) • Seperti pajak (tax),maka bunga telah ada dalam
catatan sejarah manusia 2000 SM di Babilonia • Tahun 575 SM gagasan bunga sudah begitu mapan di
Babilonia dengan kantor yang resmi dalam penggunaan uang untuk perdagangan internasional
• Sejarah mencatat sudah ada tingkat suku bunga berkisar (6-25%) per tahun. Pengenaan tingkat suku bunga yang berlebih disebut dengan riba (usury)
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
o t
h e C
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Em
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Bunga Sederhana (Simple Interest)
Dimana : I : Bunga Total P : Banyaknya Pinjaman N : Banyaknya periode Bunga i : tingkat biaya pa per periode bunga
I = (P) (N) (i)
Sistem bunga hanya didasarkan atas besarnya pinjaman semula dan bunga periode sebelumnya yang belum dibayar tidak termasuk faktor pengali bunga
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
o t
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Em
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Bunga sederhana (Simple Interest)
Jumlah yang dipinjam P = $1,000 dalam N = 3 tahun dan tingkat suku bunga sebesar 10% per tahun, maka bunga yang didapat adalah ;
I = $,1000 x 3 x 0.10 = $300
Jadi, total hutang pada akhir tahun ketiga sebesar $1,000 + $300 = $1300
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
o t
h e C
orez
Em
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Bunga Majemuk (Compund Interest)
Apabila bunga yang dibebankan untuk setiap periode (misalnya 1 tahun) didasarkan pada sisa pinjaman pokok ditambah setiap beban biaya yang terakumulasi sampai pada awal periode itu, seperti contoh pada pinjaman $1,000 selama 3 tahun pada tingkat biaya 10% per tahun. Perhitungan majemuk dapat dilihat pada contoh berikut ini......
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
o t
h e C
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Em
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Digital Strategies
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Bunga Majemuk (Compound Interest)
(1) (2) = (1) x 10% (3) = (1) + (2)
Amount Owed at Interest Amount Amount Owed Period Beginning of Period for Period at End of Period
1 $1,000 $100 $1,100 2 $1,100 $110 $1,210 3 $1,210 $121 $1,331
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
o t
h e C
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Em
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Simple Interest Vs Compound Interest
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
o t
h e C
orez
Em
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KONSEP KEINVALENAN (THE CONCEPT OF EQUIVALENCE)
• Plan 1 : At End of Each Year Pay $2,000 Principles Plus Interest Due
• Plan 2 : Pay Interest Due at End of Each Year and Principal at End of Four Year
• Plan 3: Pay in Equal End-‐of-‐Year Payments • Plan 4: Pay Principal and interest in One Payment of Four Year
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
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Four Plans for repayment of $8000 in four years with interest at 10% Per Year
(1) (2) (3) = 10% x (1) (4) = (2) + (3) (5) (6) = (3) + (5) Amount Owed at Interest Accrued Amount Owed Principal Total End of Year
Year Beginning of Year for Year at End of Period Payment Payment (Cash Flow) Plan 1 : At End of Each Year Pay $2,000 Principles Plus Interest Due
1 $8.000 $800 $8.800 $2.000 $2.800 2 $6.000 $600 $6.600 $2.000 $2.600 3 $4.000 $400 $4.400 $2.000 $2.400 4 $2.000 $200 $2.200 $2.000 $2.200
$20.000 $2.000 $8.000 $10.000 (total interest) (total amount repaid)
Plan 2 : Pay Interest Due at End of Each Year and Principal at End of Four Year 1 $8.000 $800 $8.800 $0 $800 2 $8.000 $800 $8.800 $0 $800 3 $8.000 $800 $8.800 $0 $800 4 $8.000 $800 $8.800 $8.000 $8.800
$32.000 $3.200 $8.000 $11.200 (total interest) (total amount repaid)
Plan 3: Pay in Equal End-‐of-‐Year Payments 1 $8.000 $800 $8.800 $1.724 $2.524 2 $6.276 $628 $6.904 $1.896 $2.524 3 $4.380 $438 $4.818 $2.086 $2.524 4 $2.294 $229 $2.523 $2.294 $2.524
$20.960 $2.096 $8.000 $10.096 (total interest) (total amount repaid)
Plan 4: Pay Principal and interest in One Payment of Four Year 1 $8.000 $800 $8.800 $0 $0 2 $8.800 $880 $9.680 $0 $0 3 $9.680 $968 $10.648 $0 $0 4 $10.648 $1.065 $11.713 $8.000 $11.713
$37.128 $3.713 $8.000 $11.713 (total interest) (total amount repaid)
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
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0
2000
4000
6000
8000
1 2 3 4
8000 6000
4000 2000
Years
Am
ount
Ow
ed ($
)
From Col. 2 of Table 3-1 for plan 1
Total Dollar-Years = 20,000
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
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h e C
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The Sum of coloumn 3
Plan
Area Under Curve (Dollar-‐Years) (Sum of Col. 2 In table 3-‐1)
Total Interest Pain (Sum of Col. 3 In table 3-‐1)
Ratio of total interest to Dollar-‐Years
1 20,000 2,000 0.10 2 32,000 3,200 0.10 3 20,960 2,096 0.10 4 37,130 3.,713 0.10
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
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Notation and Cash Flow Diagrams/ Tables i = effective interest rate per interest period
N = number of compounding periods
P = present sum of money; the equivalent value of one or more cash flows at a reference point in time called the present
F = future sum of money; the equivalent value of one or more cash flows at a reference point in time called the present future
A = end-of-period cash flows (or equivalent end-of-period values) in a uniform series continuing for a specified number of periods, starting at the end of the first periods and continuing trough the last period
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
i tal S t rat eg i e s t
o t
h e C
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Em
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Four Plans for repayment of $8000 in four years with interest at 10% Per Year (1) (2) (3) = 10% x (1) (4) = (2) + (3) (5) (6) = (3) + (5)
Amount Owed at Interest Accrued Amount Owed Principal Total End of Year Year Beginning of Year for Year at End of Period Payment Payment (Cash Flow)
Plan 1 : At End of Each Year Pay $2,000 Principles Plus Interest Due 1 $8.000 $800 $8.800 $2.000 $2.800 2 $6.000 $600 $6.600 $2.000 $2.600 3 $4.000 $400 $4.400 $2.000 $2.400 4 $2.000 $200 $2.200 $2.000 $2.200
$20.000 $2.000 $8.000 $10.000 (total interest) (total amount repaid)
Plan 2 : Pay Interest Due at End of Each Year and Principal at End of Four Year 1 $8.000 $800 $8.800 $0 $800 2 $8.000 $800 $8.800 $0 $800 3 $8.000 $800 $8.800 $0 $800 4 $8.000 $800 $8.800 $8.000 $8.800
$32.000 $3.200 $8.000 $11.200 (total interest) (total amount repaid)
Plan 3: Pay in Equal End-‐of-‐Year Payments 1 $8.000 $800 $8.800 $1.724 $2.524 2 $6.276 $628 $6.904 $1.896 $2.524 3 $4.380 $438 $4.818 $2.086 $2.524 4 $2.294 $229 $2.523 $2.294 $2.524
$20.960 $2.096 $8.000 $10.096 (total interest) (total amount repaid)
Plan 4: Pay Principal and interest in One Payment of Four Year 1 $8.000 $800 $8.800 $0 $0 2 $8.800 $880 $9.680 $0 $0 3 $9.680 $968 $10.648 $0 $0 4 $10.648 $1.065 $11.713 $8.000 $11.713
$37.128 $3.713 $8.000 $11.713 (total interest) (total amount repaid)
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
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Years i = 10% per year
Beginning of year 1
End of year 1
P = $8,000
F = $11,713
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Ekonomi Teknik (Engineering Economy) Sesi 3
Dr. Ir. Manerep Pasaribu zDig
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Figure 4-3
Years i = 10% per year
P = $8,000
A = $2524