Personal Statement
Worst financial crisis hit Indonesia's economy in 1997 to 1998. It caused instability in currency values, resulting Indonesian Rupiah depreciated to lowest level at 82.9% and low-level of competitiveness. This crisis had me to devote my interest to take International Economics as my education at the Faculty of Economics and Business of University of Indonesia. At my university time, I identified that exchange rate variability had a negative effect on trade and intermediate goods was one of key solutions to boost international trade.
My interest on international economics more emerged when I did an internship at Central Bank of Indonesia as Researcher in June 2006. During the internship, I performed monetary, financial and banking researches and prepared papers using economic and statistical tools for preparing validation and recommendations to senior management. I utilized this opportunity to enrich my modality for writing Internship Report – equalled to thesis – which it had me been awarded as the best Faculty’s internship programme in 2007. At the same time, I was also an Assistant Lecturer at my faculty for the subjects of Statistics and Monetary Economics. The subject of Statistics had developed my logical and mathematical framework toward solving economic and financial problems. In addition, teaching Monetary Economics
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My long-term goal is to work in a position that enables me to direct and make strategic decisions in the public, private and non-profit sectors. These goals will lead me to bridge the gap between national competitiveness and international trade market within the changing trade and financial environments. I also dedicate myself to give significant contribution to Indonesian Government institutions, national and multinational enterprises in facing current globalization, trade openness and economic
As an employee of the World Bank, you have been asked to research 1 economic concern in a South American country and write a report on your findings.
Indonesia is now the 15th largest economy on the planet with a global output of just under 1.5% but is expected to rise in the coming years. Manufacturing is the largest single component of Indonesia’s economy with its main exports including crude petroleum and natural gas as well as rubber, coffee, cocoa and palm oil while Australia mostly benefits from exporting mineral fuels, gems, precious metals and meat. Indonesia received $187.3 billion USD from exports in 2012 ranking it 27th in profit from global exports but Australia placed 22nd and profited a total of $257.9 billion USD from its exports leaving Indonesia in the dust. Although Indonesia has showed significant growth recently their quality of life is still worse than Australia’s due to a lower Gross Domestic Product or GDP. GDP is the total value of goods produced and services provided within a country in the duration of a year and determines the strength of a countries currency.
An opportunity to study at the University of Alberta is an advancement to a career in academia and an achievement to my dreams of becoming an agricultural economist. My Economics undergraduate degree at Daystar University prepared me well for this master's program as I studied the core courses which include; Micro Economics, Macro Economics, Environmental and Resource Economics, Money and Banking, Development Economics and Financial Economics. In developing my honour’s thesis, I acquired hands-on experience in tackling research questions, writing research papers and presentation of findings to panels of researchers.
Since 1965, the president of Indonesia continued to provide continuity and stability. However, in order to define an effective and complex growth plan, a company wishing to be successful needed the president’s support to succeed in the plan.
Indonesia is the sixteenth largest economy, the largest economy in the South-east Asian economic region with the world's fourth largest population (263 million in 2017). It is an emerging economy that has increased its international integration, trade liberalisation and diverted from policies of import substitution towards export-led development. Indonesia is a member of the Group of 20 (G20) major economies and has been an active founding member of the World Trade Organisation (WTO). The impact of globalisation has benefited Indonesia as quality of life indicators and economic developments have improved but it also presents the challenge of improving regulations, building more competitive industries, increasing investment into education and infrastructure to remain competitive. Consequently, Indonesia has introduced numerous strategies to promote economic growth and development.
My parents left their home in Bulgaria and took me to America when I was only a month shy of turning two. They were searching for a more stable economy, something which I hope to help bring to Bulgaria after obtaining an Economics degree.
Which is cost difference determines the patterns of international trade. Absolute advantage is trade benefits when each country is at least cost producer of one of the goods being traded. In the 1800s, David Ricardo developed the theory of comparative advantage to measure gains from trades. This theory is based on comparative advantage and it states each nation should specialize in production of those goods for which its relatively more efficient with a lower opportunity cost.
Exchange rate represents the external value of a currency. Changes in exchange rates may affect the relative position of a country in the international trade. Politicians and economists concern about exchange rate variability for lots of reasons, among which that the exchange rate variability discourages trade comes first. However, a large empirical literature on this issue does not confirm a significant effect of exchange rate on the volume of trade [1]. Instead other variables such as employment should be much more important from a practical point of view, for it is closely related to people’s livelihood.
Coming from the general business background, I find economics the most influential and powerful social science in society's daily life. Good knowledge of economics leads to better decision-making and choices, understanding how people and countries interact with each other and can significantly improve the quality of life for individuals and in the larger scale to countries.
At his conclusion, he was to mention that Europe could play a similar role to
My interest in Economics goes back to the time I was in Grade 9. This interest has only grown through my years in school. As I have learnt more about the subject, it has helped me understand better many things we witness and experience in our daily lives.
Fast economic conversion that Turley experienced after 1980 has made a significant effect on country’s whole economy and especially removal of obstacles in front of capital movements and integration of the country with global economy has increased the importance of financial sector as a whole . But this fast conversion made the economy vulnerable to crisis and Turkish economy experienced two devastating economic crisis in post 1980 era. In this report I will describe most recent economic crisis that occurred in 1994 and 2001.
This paper was prepared for GD530 Economics and the International System, taught by Professor Snow
I successfully published a paper on “Labor Market Flexibility and the Impact of the Financial Crisis” in Kyklos, a high-quality journal in political economics. In addition, my paper on “Legal and Actual Central Bank Independence: A case study of Bank of Indonesia” was published in the SOM Research Report. Following these publications, another paper that I wrote entitled, “Financial Crises and the Dismissal of Central Bank Governors: New Evidence” was also published in the International Journal of Finance and Economics. In order to the increase the impact of my paper to the academics and policy makers, I presented my paper on financial crisis and central bank independence at the Forum Kebijakan Pembangunan (FKP) held by the ANU Indonesia Project. I was also invited by the Asian Economic Panel (AEP) Conference to present my paper on Bank Indonesia’s legal and actual
When I was first given this assignment I was extremely perplexed at how I would even begin to finish it. I had no idea how economics related to my life in anyway. I hadn’t thought about it critically and I struggling terribly. Thanks to some much needed help from a fellow classmate, he allowed me to get an idea of things from his own essay. After reading not one, but two other essays, I was so surprised at how oblivious I had been. I never realized that just about everything that goes on in my daily life is, in fact, economics. I never realized that from the things I buy to the money I earn from working is all economics. The things I miss out of while working or going to school is a complete opportunity cost. Or even