The purpose of this research is to study the existing work in the field of applications of Game Theory in engineering. The project was undertaken to comprehend the basics of Game Theory and then infer how it can be applied to solve practical problems. Initially the nuances of Game Theory were explored through standard texts and then they are followed by four problem statements to study how they can be modeled using Gaming Theory. We interpreted the work to develop an understanding of the modeling techniques. All the problems could be modeled into similarly structured games where there were players, strategies, sets of outcomes and an optimal solution for each. Hence, it could be said that, with some primary assumptions, Game Theory is an efficient medium to analyze and optimally solve practical problems in the field of engineering.