BUSINESS ECONOMICS

Contribution News

As a non finance/economic background, we might difficult to adjust into the business world after I
graduated from my bachelor degree. But at the end, every worker should be familiar with many
finance terms, such as revenue, profit & loss, etc. After working for several years, I grew as an
employee and I’ve learned so much about finance and finance/economic related courses at BLEMBA
are among those that excite me the most especially Business Economics class.

We started with Microeconomics that focuses on a firm, we revolve so much around supply and
demand topic. Who would’ve thought that starting this simple term, we could conduct a
comprehensive strategic decision-making process for our firm? We also studied about
Macroeconomics when we discovered so much concept for an economy as a whole. Understanding
its history, along with many theories on how to implement the right policies for a country in order to
achieve its goals (e.g Low Inflation, High Employment, and High Output/GDP) is very important in
this VUCA era.

Is a successful country a country whose currency is always experiencing strength? After studying
macroeconomics, we find an interesting fact that superpower countries tend to weaken their
currencies to open up export opportunities as wide as possible. Another interesting fact about
developed countries is that they control the economy through printing money (by the Fed), then
they buy their own domestic corporate bonds, while developing countries cannot progress because
the control of the currency is held by the Fed (through currency fluctuations), where The Fed
controls 30% of the world economy, so they are the ones who can raise / lower interest rates, so if
we see, when a country's economy will develop up, there must be a crisis faced (that's very
interesting, isn't it? 😊, but The positive side that we can learn from this is that every country must
have savings 😊 .

Other interesting issue about macroeconomics are, from agriculture to industry, from industry 1.0 to
4.0, as well as how civilization and technology are factors for economic growth and all of that needs
to be monitored and followed. Also focus on increasing the quantity and quality of the workforce
and bringing about technical changes. Which means strengthening human resources through
extensive health, education and training programs. However, as development progresses, most
countries experience improvements in the quality of their environment. The limits placed on a
country's growth based on its natural resources have been debated for several hundred years. A
growth strategy based on resource extraction can pose special challenges for a country's growth.
These are all phenomena that make studying macroeconomics so exciting. We talk about how the
economy grows, why the economy fails to thrive. We discussed the long term growth of a nation's
journey and tried to at least contribute by understanding and active participation in ideas.