Ekonomi Teknik. Bab 1. Pengantar Ekonomi Teknik (Pengertian dan Ruang Lingkup Ekonomi Teknik)

Summary

This video lecture on Engineering Economics introduces the concept of economic analysis in technical fields. It covers the definition and scope of engineering economics, focusing on the relationship between costs and benefits in decision-making processes. The lecture explains how engineers need to manage both physical and economic environments, emphasizing the importance of optimizing costs and maximizing efficiency. Key topics include cost-benefit analysis, decision-making processes, and factors influencing economic evaluation in engineering projects, all aimed at achieving the most efficient and profitable outcomes in technical endeavors.

Takeaways

• 😀 Economics Engineering is the study of the relationship between costs and benefits to help make optimal decisions in technical activities.
• 😀 The core of economics engineering lies in analyzing the trade-off between physical aspects and economic aspects in engineering projects.
• 😀 A key challenge in engineering economics is choosing between different alternatives, with the goal of achieving the most efficient and cost-effective solution.
• 😀 There are two main environments for engineers: the physical environment (involving physics, mechanics, and technology) and the economic environment (involving costs, benefits, and management).
• 😀 The physical environment includes applied physics, machinery, and infrastructure necessary for technical operations, while the economic environment focuses on business management and cost analysis.
• 😀 Efficiency in engineering can be divided into two types: physical efficiency (related to energy or resource input) and economic efficiency (related to financial returns and costs).
• 😀 Economic efficiency aims to achieve returns greater than 100%, meaning a project or process should generate profits exceeding its investment and operational costs.
• 😀 Decision-making in engineering involves identifying factors that can affect project success, evaluating alternative methods, and selecting the most economically viable option.
• 😀 When faced with engineering challenges, identifying and overcoming limiting factors is crucial. For example, adjusting dimensions of machinery or tools to fit specific requirements.
• 😀 The engineering decision-making process involves several stages: identifying objectives, analyzing strategic factors, evaluating alternatives, and making decisions based on economic analysis and technical considerations.

Q & A

What is the general definition of Engineering Economics?

Engineering economics is the analysis that studies the relationship between costs and benefits in engineering activities. It focuses on maximizing the economic value of engineering decisions by evaluating the costs and potential returns from technical activities.

What is the role of alternative choices in engineering economics?

Alternative choices play a key role in engineering economics as they are evaluated to make the most economically optimal decision. These alternatives allow engineers to compare different options and select the one that offers the best value or return on investment.

How do physical and economic environments affect engineers?

Engineers are confronted with two environments: the physical environment, which includes aspects like physics, mechanics, and thermodynamics, and the economic environment, which involves business factors such as cost analysis, project evaluation, and decision-making. Successful engineering decisions require balancing both of these factors.

What is the concept of 'efficiency' in engineering economics?

In engineering economics, efficiency refers to the effective use of resources to maximize output while minimizing costs. Physical efficiency measures output per unit of input, while economic efficiency focuses on maximizing returns relative to investment. A key aspect is that physical efficiency is never 100%, but economic efficiency can exceed 100%.

How does 'time value of money' impact engineering decisions?

The time value of money indicates that the value of money decreases over time due to factors like inflation or opportunity cost. In engineering economics, this concept helps in evaluating projects by adjusting for the time period over which investments or returns occur.

What is the significance of depreciation in engineering economics?

Depreciation refers to the reduction in value of assets such as machinery over time. In engineering economics, it is critical to consider the depreciation rate when evaluating the life cycle costs and financial feasibility of equipment and projects.

What factors are considered when evaluating the feasibility of a project?

When evaluating a project, engineers must consider factors such as initial investment, operating costs, potential returns, time factors (e.g., interest rates and inflation), and the depreciation of equipment. These elements help in determining whether a project is financially viable.

How does one identify strategic factors in engineering projects?

Identifying strategic factors involves recognizing the limitations or constraints that may impact the execution of a project. These could include technical challenges, regulatory constraints, resource availability, or market demand. Addressing these factors ensures that the project can achieve its goals effectively.

What is the role of decision-making in engineering economics?

Decision-making in engineering economics involves evaluating all available alternatives and choosing the option that provides the highest value considering both technical and economic aspects. The decision-making process must also anticipate long-term impacts and risks associated with each choice.

Why is cost analysis crucial in engineering economics?

Cost analysis is vital in engineering economics as it helps to determine the most cost-effective methods and solutions for a project. By analyzing the costs of resources, labor, and technology, engineers can make informed decisions that ensure projects stay within budget while maximizing profitability.