The Economics and Business Landscape Analysis course in the MAB ITB includes two parts: microeconomics and macroeconomics. On Thursday (6/4), Bank Indonesia Financial Analyst, Rindawati Maulina, was present as a guest lecturer at the MBA ITB Bandung campus, explaining Indonesia’s macroeconomic system. Nineteen Entrepreneurship 67 students attended to study macroeconomics directly from one of the regulators in Indonesia.
Rindawati explained the monetary policy. In the initial session, she explained the IS/LM Model Graphic, where the IS chart represents an equilibrium in the goods market whose regulation is regulated by the government, namely fiscal policy. An example of fiscal policy is tax regulation.
The LM chart is the money market equilibrium, regulated by Bank Indonesia or called monetary policy. For example, the regulation of the money supply in society.
Meanwhile, the IS/LM Model graph is a combined graph of the two. The application of such graphs can be used to create mixed policies. The systematic work is like “gas and brakes” between the government and the central bank on economic conditions.
Students are then divided into three groups to play a role. Each group gets a case study to discuss from the perspective of four fields: government, workers, employers, and the central bank. After 30 minutes of discussion, students presented the results of their discussion. By taking this perspective, students could carry out a simulation directly deciding mixed policies for these conditions.
Rindawati gave a direct description of her dilemmatic role in determining policy. In the role play, students also experience the dilemma of deciding.
Rindawati also said that entrepreneurs are the spearhead of a country. She doesn’t worry that Indonesia will face a recession if many informal sector businesses are circulating. The class ended with the presentation of certificates and group photos.