FEBUPNVJ – The Introduction to Economics lecture  in the third diploma accounting study program was held on Tuesday, October 31 2023, by Prof. Reed from the University of Kentucky. The material taught is macroeconomics in America and compared with Indonesian macroeconomics.

First, competitive ideas in a country are driven by several factors, namely product life cycle, nature competition, competition in price and quality, technological treadmill and dynamics, differentiated products and globalization.

Furthermore, a country that has high competitiveness in the global economy will bring that country a high income and this is usually followed by a high level of labor productivity in that country. For example, in America, a country that has high competitiveness, it can be seen that income is high.

A high level of competition will encourage each country to innovate, thus encouraging high innovation capital spending and also investment in several factors of production.

The role of government in the economy is very important, because it regulates economic flows between economic agents in the country. Some of the government’s roles are maintaining investment stability in production factors, policies that encourage a high level of competition, encouraging cooperation between economic agents at various levels (horizontally and vertically), and finally encouraging forward looking policies.

Before the lecture session ends, there is a question and answer session with students. Student asked what factors made America more advanced than Indonesia, and whether Indonesia could be like America.\