Once again Kerry Wong has published details of a useful Arduino-based project - his LC meter with frequency measurement. To measure inductance or capacitance the frequency of an oscillator is measured, and the changes are relative to the component being measured. The theory and design of the meter has been explained in detail, and using his code you can reproduce the meter with a little effort.
Take note that Kerry has used Netbeans for the IDE, however there is a link to understand how to do this. For more design information, code and circuitry visit Kerry's detailed page here. When building your own rendition of this meter, consider using ourLCD Keypad shield, which offers the 16x2 character LCD and also five buttons for input: