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UNIVERSIDAD NACIONAL DE INGENIERIAUNIVERSIDAD NACIONAL DE INGENIERIA
FACULTAD DE INGENIERIA INDUSTRIAL Y DE SISTEMAS
AREA DE GESTION DE LA PRODUCCION
Curso:Curso:
ANALISISANALISISECONOMICO DEECONOMICO DE
INGENIERIAINGENIERIA
(GP234-W)(GP234-W)Profesor: MBA Wii!" Ori! C#!$!rr%!Profesor: MBA Wii!" Ori! C#!$!rr%!
ESCUELA DE INGENIERIA INDUSTRIALESCUELA DE INGENIERIA INDUSTRIAL
Ciclo: 2006-01 2!"0#"2006
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2Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
Sesi.+ No/ 2Sesi.+ No/ 2EL VALOR DEL DINERO ENEL VALOR DEL DINERO EN
EL 0IEMPOEL 0IEMPO
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#Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
E $!or *e *i+ero e+ e 0ie"1oE $!or *e *i+ero e+ e 0ie"1o
El i$(ro 3rouc( i$(ro 4 (l i$(ro 5u( (l i$(ro
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Di+ero: '(io (c+'++;
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?Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
E $!or *e *i+ero e+ e 0ie"1oE $!or *e *i+ero e+ e 0ie"1o
El ,+c=or =i('3o 8u()+ u$ 3+3(l (cisio + l+ /or+ (
,i8+r (l +lor (l i$(ro;
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($=ro ( u$ +@o 4+ 5u( (l i$(ro s( + (3r(ci+$o
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( 3r(cios ( l+ (co$o'*+
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!Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
E $!or *e *i+ero e+ e 0ie"1oE $!or *e *i+ero e+ e 0ie"1o
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(5ui+l($=( + 1 'ill&$ ( sol(s '%s u$+ c+$=i++icio$+l ($=ro ( u$ +@o; Es=+ c+$=i+ +icio$+l (s
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6Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
E $!or *e *i+ero e+ e 0ie"1oE $!or *e *i+ero e+ e 0ie"1o
D( l+ 'is'+ '+$(r+ 5u( (s=+'os is3u(s=os +
)+s=+rlo 3+r+ s+=is,+c(r u$+ $(c(si+ (s=+r('osis3u(s=os + i$(r=ir si('3r( 4 cu+$o l+
co'3($s+ci&$ (co$&'ic+ $os r(sul=( su,ici($=(;
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'o'($=os s( 3r(,(rir*+ +5u(l 5u( s(+ '%s
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Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
&i+!+5!s&i+!+5!sEs (l co$8u$=o ( +c=ii+(s r(l+cio$++s co$ l+
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Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
&6os *e Efe'i$o e+re ! E"1res!&6os *e Efe'i$o e+re ! E"1res! os Mer'!*os &i+!+'ieros os Mer'!*os &i+!+'ieros
L+ ('3r(s+L+ ('3r(s+i$i(r=(i$i(r=(
($ +c=ios 7($ +c=ios 7
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circul+$=(scircul+$=(s
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reinvertidos (E)
Im
puestos
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P!,o *e *i$i*e+*os *e*! (&)
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Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
I; Fu$cio$(s (l G(r($=(Fi$+$ci(ro;
II; R(s3o$s+>o$;
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10Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
A; P!+e!"ie+o &i+!+'ieroB For'ul+ci&$ ( O
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11Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
B D(=(r'i$+r (l olu'($ =o=+l( ,o$os 5u( (+r l+ ('3r(s+
B Dis=ri
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12Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
1; D(cisi&$ ( I$(rsi&$A; L+r)o Pl+>o
B E+lu+ci&$ ( Pro4(c=os
; Cor=o Pl+>o
B I$(rsi&$ ($ +c=ios corri($=(s
2; D(cisi&$ ( Fi$+$ci+'i($=oEs 3osi
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1#Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
&i+!+5!s E"1res!ri!es: Pri"eros&i+!+5!s E"1res!ri!es: Pri"erosCo+'e1osCo+'e1os
M!8i"i5!r e $!or *e ! e"1res!
0!s! *eCore
(++ K(u+ 4"o
c+3i=+l;
Re+!ii*!*(>o$;
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1?Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
E I+er;sE I+er;sB Es l+ '+$i,(s=+ci&$ (l +lor (l i$(ro ($ (l =i('3o;B Di,(r($ci+ ($=r( u$+ c+$=i+ ,i$+l ( i$(ro 4 l+
c+$=i+ ori)i$+l;B Pr(cio 5u( s( 3+)+ 3or (l uso ( ,o$os 3r(s=++ci&$
3i( i$(ro 3r(s=+o 7o+ci&$
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1!Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
E I+er;s *e Pres!!rioE I+er;s *e Pres!!rioEl i$=(rs 5u( s( 3+)+ 3or ,o$os 5u( s( 3i($
3r(s=+os 73rs=+'os s( (=(r'i$+$ '(i+$=( l+
r(l+ci&$:
I+er;s < C!+i*!* e se *ee !#or! = C!+i*!*Ori,i+!
0!s! *e I+er;s0!s! *e I+er;sI$=(rs 3+)+o co$ r(s3(c=o + u$+ u$i+ ( =i('3o
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3orc($=+8( ( l+ c+$=i+ ori)i$+l 73ri$ci3+l;
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16Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
0i1s0i1s
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,i8+r u$+ =+s+ ( i$=(rs (s ( u$ +@o;BEs 3osi
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1Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
E I+er;s *e Pres!"is!E I+er;s *e Pres!"is!D(s( l+ 3(rs3(c=i+ ( u$ +/orr+or u$ 3r(s=+'is=+ o
u$ i$(rsio$is=+ (l i$=(rs )+$+o (s l+ c+$=i+ ,i$+l
'($os l+ c+$=i+ i$ici+l o 3ri$ci3+l;
I+er;s < C!+i*!* o! !'! = C!+i*!* Ori,i+!
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1Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
E6e"1oE6e"1o
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1Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
Ei$!e+'i!Ei$!e+'i!
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u=ili>+os si'ul=%$(+'($=( )($(r+$ (l co$c(3=o ((5ui+l($ci+ lo 5u( si)$i,ic+ 5u( su'+s i,(r($=(s (
i$(ro +l =r'i$os i,(r($=(s ( =i('3o 3u(($ s(r
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20Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
L!s M!e"i'!s &i+!+'ier!sL!s M!e"i'!s &i+!+'ier!sCo$8u$=o ( /(rr+'i($=+s 5u( 3(r'i=($
3ri$ci3+l'($=( (l +(cu+o c%lculo (
(5ui+l($ci+s ($=r( 'o$=os ( i$(ro(s3(r+os o (8(cu=+os ($ 'o'($=os
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Los 3ro
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21Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
L!s M!e"i'!s &i+!+'ier!sL!s M!e"i'!s &i+!+'ier!sC!"1os *e A1i'!'i.+:C'o Co"er'i!:s( +=i($( + r()l+s ( uso co'$ 4
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22Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
L!s M!e"i'!s &i+!+'ier!sL!s M!e"i'!s &i+!+'ier!s
C!"1os *e A1i'!'i.+:
E$!!'i.+ &i+!+'ier! *eDe'isio+es: E$ (s=( c+so=oos los c%lculos (+rs( co$si(r+$o (l
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l+ 'is'+
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2#Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
Co+si*er!'io+esCo+si*er!'io+es
B P+r+ (i=+r is3u=+s ($=r(
(uor(s 4 +cr((or(s 3or (,(c=o( l+s irr()ul+ri+(s (l
c+l($+rio 3u(s =oos los '(s(s
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2?Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
0i1s0i1s
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2!Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
I+er;s Si"1eI+er;s Si"1eEs l+ )+$+$ci+ (l c+3i=+l 3ri$ci3+l o s=oc9 ( (,(c=io
i)$or+$o cu+l5ui(r i$=(rs 5u( s( /+4+ +cu'ul+o ($ los
3(rioos +$=(rior(s;
El i$=(rs si'3l( =o=+l ur+$=( +rios 3(rioos s( c+lcul+
( l+ si)ui($=( '+$(r+:
I+er;s (I) < (1ri+'i1!)(+"ero *e 1erio*os)(!s! *ei+er;s)
I < P 8 i 8 +I < P 8 i 8 +Do$(:
I I$=(rs )+$+$ci+ cri=o o (($)+o;
P Pri$ci3+l c+3i=+l o s=oc9 i$ici+l ( (,(c=io;
i T+s+s ( i$=(rs 3or 3(r*oos co$si(r+o;
$ N'(ro ( 3(r*oos;
I ; Si I ; Si
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&!'()!**eI+
,e+ier%!I+*(s)ri!-*eSis)e"!s
&!'()!**eI+
,e+ier%!I+*(s)ri!-*eSis)e"!s
Are!*e
Ges)i.+*e!Pr
o*(''i.+
Are!*e
Ges)i.+*e!Pr
o*(''i.+
26Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
I+er;s Si"1eI+er;s Si"1eEl =+'+@o (l 3(r*oo 3u(( s(r: u$ *+ u$+ s('+$+ u$
'(s;
Si (l i$=(rs 7I s( +)r()+ +l 3ri$ci3+l 7P (l r(sul=+o s(
($o'i$+ 'o$=o 7F o s=oc9 ,i$+l;
& < P I& < P I
&+ < P (I+/i)&+ < P (I+/i)
F$ Mo$=o o +lor ,u=uro lu()o ( $ 3(rioos
E6 E6
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&!'()!**eI+
,e+ier%!I+*(s)ri!-*eSis)e"!s
&!'()!**eI+
,e+ier%!I+*(s)ri!-*eSis)e"!s
Are!*e
Ges)i.+*e!Pr
o*(''i.+
Are!*e
Ges)i.+*e!Pr
o*(''i.+
2Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
E6e"1oE6e"1o
D(=(r'i$+r (l i$=(rs so
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28/30
&!'()!**eI+
,e+ier%!I+*(s)ri!-*eSis)e"!s
&!'()!**eI+
,e+ier%!I+*(s)ri!-*eSis)e"!s
Are!*e
Ges)i.+*e!Pr
o*(''i.+
Are!*e
Ges)i.+*e!Pr
o*(''i.+
2Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
I+er;s Co"1esoI+er;s Co"1esoEs l+ su'+ ( l+ )+$+$ci+ (l c+3i=+l 4 ( los i$=(r(s(s
+cu'ul+os ($ 3(rioos +$=(rior(s; El i$=(rs (l 3(rioo
s( i$cr('($=+ +l c+3i=+l 7c+3i=+li>+ci&$ ( i$=(r(s(s:
I+er;s (I) < (1ri+'i1! o*os os i+ereses!'"!*os)(!s! *e i+er;s)
++& < P( i)& < P( i) ++
Do$(:
F +lor Fu=uro;P +lor Pr(s($=( o Pri$ci3+l c+3i=+l o s=oc9 i$ici+l (
(,(c=io;
i T+s+s ( i$=(rs;
$ =i('3o ($=r( P 4 F;
E6 E6
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&!'()!**eI+
,e+ier%!I+*(s)ri!-*eSis)e"!s
&!'()!**eI+
,e+ier%!I+*(s)ri!-*eSis)e"!s
Are!*e
Ges)i.+*e!Pr
o*(''i.+
Are!*e
Ges)i.+*e!Pr
o*(''i.+
2Curso: A$%lisis Eco$&'ico ($ I$)($i(r*+ Pro,(sor: MA .illi+' Ori+ C/++rr*+
E6e"1oE6e"1oC+lcul+r (l 'o$=o =o=+l +(u+o +l c+
7/25/2019 Ses 02 GP234W 2006 01.ppt
30/30
&!'()!**eI+
,e+ier%!I+*(s)ri!-*eSis)e"!s
&!'()!**eI+
,e+ier%!I+*(s)ri!-*eSis)e"!s
Are!*e
Ges)i.+*e!Pr
o*(''i.+
Are!*e
Ges)i.+*e!Pro*(''i.+
#0
Difere+'i!s e+re I+er;s Si"1e Co"1esoDifere+'i!s e+re I+er;s Si"1e Co"1eso
Fu($=(: A3u$=(s ( M+=('+=ic+s Fi$+$ci(r+s R($( Cor$(8o M+ri=+ C/+$) ESAN