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Faculty of Economics and Business (FEB), Universitas Sebelas Maret (UNS), in collaboration with Wageningen University & Research, organized the Using Evidence in Policy Making: Impact Evaluation Workshop on Tuesday, 2 December 2025, at UNS Tower. The activity featured Associate Professor Robert Sparrow from Wageningen University & Research as the main resource person. The workshop was attended by FEB UNS lecturers, postgraduate students from the Doctoral Program in Economics (PDIE), as well as undergraduate students with an interest in policy evaluation and social program impact analysis.

The event was opened by the Vice Dean for Academic and Research Affairs FEB UNS, Prof. Tri Mulyaningsih, S.E., M.Si., Ph.D., who expressed appreciation for the presence of Assoc. Prof. Robert Sparrow at FEB UNS. In her remarks, Prof. Tri emphasized that the workshop provided a valuable opportunity for the academic community to deepen their understanding of impact evaluation, particularly in supporting the formulation of public policies grounded in scientific evidence.

Previously, Assoc. Prof. Robert Sparrow had also contributed as a resource person in the Intensive Workshop on Applied Macroeconomics for Global Health. In the main session, Assoc. Prof. Robert Sparrow presented the fundamental concepts of impact evaluation, its objectives, and various methods commonly used to assess the impact of social policies. He explained that impact evaluation focuses on analyzing the causal effects of policies designed to address social problems or improve public welfare.

Several evaluation methods were introduced, including quasi-experiments, propensity score matching, instrumental variables, and difference-in-difference. In this workshop, Robert placed particular emphasis on the application of difference-in-difference and propensity score matching, which are frequently used in public policy research.

The workshop proceeded in an interactive manner through case study discussions, where participants were invited to analyze potential challenges in the evaluation design of social projects and to compare the application of two different impact evaluation methods.

Robert highlighted that the primary challenge in impact evaluation lies in identifying a credible control group. According to him, the presence of an appropriate comparison group is an essential prerequisite before conducting a scientific impact evaluation. “The main challenge in impact evaluation is related to the identification of a control group. The first question you need to answer before conducting an impact evaluation is whether you have a credible control group,” Robert explained.

Through this activity, FEB UNS expects to enhance the capacity of academics and students in understanding and applying evidence-based policy evaluation, thereby contributing to the formulation of more effective public policies with measurable impact.

This activity supports the achievement of the Sustainable Development Goals (SDGs), particularly SDG 4 (Quality Education) through the advancement of academic and research capacity, as well as SDG 16 (Peace, Justice, and Strong Institutions) by promoting public policies grounded in evidence and scientific evaluation.

The Center for Research and Community Engagement Development (P4M) of the Faculty of Economics and Business (FEB), Universitas Sebelas Maret (UNS), organized a workshop entitled Creativity and Innovation in Business on Thursday, 5 December 2025. The activity, held at the FEB UNS Teleconference Room, was attended by FEB UNS lecturers and students as part of efforts to strengthen academic and practical perspectives in the field of business innovation. The workshop featured Associate Professor Dr. Anuar Shah bin Bali Mahomed from the Faculty of Economics and Management, Universiti Putra Malaysia, as the main resource person.

On this occasion, Dr. Anuar delivered a presentation highlighting the importance of creative thinking in driving business innovation amid rapid changes in the economic environment and technological development. He emphasized that there are two key aspects that determine the success of business innovation, namely technology and culture.

According to him, current technological advancement has provided easier access and substantial benefits for both business actors and consumers. This condition has become one of the main factors causing traditional businesses to face increasing difficulty in competing with digital-based enterprises.

In his presentation, Dr. Anuar discuss the development of e-hailing services such as Grab, Uber, and Gojek in Malaysia as an example. Based on empirical studies conducted, the emergence of e-hailing services has been shown to reduce the income of traditional taxi drivers. However, at the same time, these digital business applications proved its impact in reducing service costs borne by customers.

“Let us observe the emergence of e-hailing applications. This technology aims to provide convenience for users while also reducing the cost of delivering services. A similar situation can be seen in the banking industry today, as more and more banks moved away from physical office, they no longer open branch offices, because all processes can be conducted through applications,” Dr. Anuar explained.

Aside from discussing technological aspects, Dr. Anuar also examined the importance of cultural factors in business innovation. Referring to the cultural dimensions proposed by Hofstede, he emphasized that understanding the cultural context of a particular region is essential for business actors. Cultural differences influence consumer behavior and preferences, requiring business strategies to be aligned with local cultural characteristics.

Concluding the workshop session, Dr. Anuar encouraged business actors and young generations who intend to enter the business sector to remain adaptive to change, particularly by understanding the consumption patterns of younger generations who will become the primary market in the future. “If businesses are unwilling to change and adjust to the preferences of younger generations, they will lose that market,” he stated.

Through this activity, FEB UNS contributes to the achievement of the Sustainable Development Goals (SDGs), particularly SDG 8 (Decent Work and Economic Growth) through strengthening business innovation capacity, as well as SDG 9 (Industry, Innovation, and Infrastructure) through the development of creative thinking and technological adaptation in the business sector.

Faculty of Economics and Business (FEB), Universitas Sebelas Maret (UNS), welcomed a visit from Grade XII students of SMA Islam Al Azhar 3 Jakarta at the Suhardi Building Auditorium, FEB UNS, on Thursday, 4 December 2025. This activity served as a forum for knowledge sharing for students who are preparing to enter higher education.

In his welcoming remarks, Pram Suryanadi, S.E., M.Si., stated that choosing to pursue higher education in Solo offers a valuable opportunity to become more familiar with Javanese culture. Solo and Yogyakarta have long been recognized as centers of Javanese culture and as meeting points for talents from various regions across Indonesia. This diversity, according to him, forms an important foundation for young generations as future leaders who uphold the values of Bhinneka Tunggal Ika.

He also emphasized that UNS is committed to deliver high-quality education. At present, Universitas Sebelas Maret (UNS) Surakarta continues to achieve notable accomplishments at both the national and global levels. Although FEB UNS was established in 1976 and is relatively younger compared to other major universities, Solo had long served as a center of intellectual activity well before that period. The city is known as a space where various intellectual movements emerged, including Sarekat Islam.

Pram further described Solo as an ideal city for students, characterized by an affordable cost of living, a conducive academic environment, a “slow living” atmosphere that remains modern, and easy access to natural destinations such as Tawangmangu and coastal areas in Yogyakarta.

“We invite you to take this opportunity as a room for learning and sharing inspiration,” he stated. He also quoted the Javanese proverb “Guru iku padang, murid iku laku,” emphasizing the importance of teachers’ guidance as a source of direction in the pursuit of knowledge and aspirations.

Meanwhile, the Principal of SMA Islam Al Azhar 3 Jakarta, Syamsudin, M.Pd., expressed appreciation for the warm reception from FEB UNS. He highlighted that the visit was important for students to gain a broader perspective on higher education options beyond the Jakarta area and its surroundings. “Indonesia has many excellent universities, and one of them is UNS,” he remarked.

Syamsudin also noted that the Management Study Program and the Business Study Program at FEB UNS are leading programs with strong reputations. He encouraged students to develop broad perspectives and strong determination in pursuing their aspirations. With extensive experience since 1976, FEB UNS is considered capable of providing strong academic guidance, particularly through its comprehensive range of study programs and international classes conducted in collaboration with various overseas institutions.

The session continued with presentations on study program profiles delivered by Adnan Effendi, S.E., M.Sc., representing the Management Study Program, and Muhammad Alif Nur Irvan, S.Ak., M.Acc., CPA., representing the Accounting Study Program. The event proceeded interactively, including a prize-based game session designed to assess students’ understanding on the material related to the international class at FEB UNS. Participants’ enthusiasm was reflected in the large number of students actively responding and engaging in discussions.

This visit is expected to broaden students’ understanding of the academic environment in higher education while strengthening their motivation in determining future study pathways. FEB UNS hopes that this activity will serve as a bridge for collaboration and inspiration for young generations preparing to enter university life.

This occasion aligns with SDG 4 (Quality Education), particularly in promoting access to information on higher education, expanding students’ academic perspectives, and strengthening collaboration between secondary schools and higher education institutions to improve the quality of learning.

Research team of Faculty of Economics and Business, Universitas Sebelas Maret (FEB UNS), conducts a public lecture entitled “FinTech and Monetary–Fiscal Policy Responses” as part of the dissemination of research findings. The activity takes place on Wednesday, 3 December 2025, at the Roedhiro Auditorium, Faculty of Economics and Business, Universitas Jenderal Soedirman (UNSOED), and is attended by more than 70 participants consisting of students from the Development Economics Study Program and academic staff.

The public lecture is motivated by the rapid growth of financial technology (FinTech), which increasingly encourages younger generations to conduct financial transactions digitally. Alongside the rising use of FinTech services and the diversification of digital financial products, the FEB UNS research team highlights the importance of aligning monetary and fiscal policy responses with the dynamics of the digital financial system. This activity is supported by funding from the 2025 DIKTI Fundamental Research Grant.

In his opening remarks, the Secretary of the Department of Development Economics, FEB UNSOED, Dr. Agus Arifin, expresses appreciation to the FEB UNS research team for organizing the public lecture. He highlights that the level of student literacy and academic engagement related to FinTech remains relatively behind the level of digital financial inclusion. This condition indicates that segments of society actively use digital financial services without adequate understanding.

During the main presentation session, Arif Rahman Hakim explains that various FinTech platforms are currently available for use by students and the broader public. However, users are advised to exercise caution by ensuring that FinTech providers are registered with and supervised by the Financial Services Authority (OJK).

He also explains that FinTech loan repayment rates remain at a relatively favorable level, reflecting users’ compliance in meeting their repayment obligations. In addition, paylater transactions and the use of QRIS show a significant upward trend within the digital payment system.

Furthermore, the FEB UNS research team emphasizes that monetary policy responses should be directed toward the formulation of a digital payment-based monetary policy framework. Such a framework can serve as guidance for interest rate and inflation control while ensuring systematic governance of the digital payment system that contributes to economic growth.

From the fiscal policy perspective, improvement can be achieved through the development of digital-based state and regional revenue and expenditure systems, both at the level of the State Budget (APBN) and the Regional Budget (APBD), thereby increasing the transparency and accountability of government financial transactions.

Specifically, Malik Cahyadin presents the results of a FinTech user behavior survey conducted in the Special Region of Yogyakarta and Central Java Province from July to early August 2025. In the Special Region of Yogyakarta, the survey involves 351 FinTech users, predominantly female (61.54%), with education levels mainly at senior high school (50.71%) and undergraduate degree (34.47%), predominantly Muslim (93.16%), and largely within their thirties. Meanwhile, in Central Java Province, the number of respondents reaches 585 individuals, also predominantly female (61.03%), mostly Muslim (83.42%), with senior high school education (55.41%), and primarily within the 18–22 age range.

The research findings indicate that key factors influencing FinTech transactions include technological adaptation and adoption capacity, perceived benefits of FinTech for personal needs and micro-enterprises, monthly expenditure levels, and user trust.

Based on these findings, the FEB UNS research team recommends that the Financial Services Authority (OJK) continue to promote digital financial literacy among the public, while FinTech service providers are expected to improve business governance and customer data security systems.

From a sustainable development perspective, this activity and its research outcomes contribute to the achievement of the Sustainable Development Goals (SDGs), particularly SDG 8 (Decent Work and Economic Growth) through inclusive financial system development, and SDG 9 (Industry, Innovation, and Infrastructure) through the development and application of technology within the financial sector.

Research team of Faculty of Economics and Business, Universitas Sebelas Maret (FEB UNS), organizes a public lecture entitled “FinTech and Financial System Stability” on Friday, 5 December 2025, at the Development Economics Study Program, Faculty of Economics, Universitas Negeri Semarang (UNNES). The activity is attended by more than 75 participants consisting of students and academic staff and is conducted in parallel sessions in Rooms 501 and 506 of the Faculty of Economics Building, UNNES.

This public lecture is part of the dissemination of research findings by the FEB UNS research team concerning developments in financial technology (FinTech) and their implications for national financial system stability.

In her presentation, Ayya Agmulia Asmarani Islam explains that the development of FinTech in Indonesia shows a notable increase, accompanied by the emergence of diverse digital financial service platforms. However, she notes that the contribution of FinTech lending transactions remains relatively limited when compared with the total volume of national banking credit transactions.

She further explains that the presence of FinTech offers several benefits to the financial stability ecosystem, including improved efficiency and transparency in digital financial transactions, transaction risk diversification, and expanded financial inclusion.

Nevertheless, FinTech also faces challenges, particularly related to data security vulnerabilities to cyber threats and digital financial governance practices that have not yet reached an optimal level. Therefore, FinTech development, according to the research team, should be positioned within a comprehensive framework of national financial system stability.

In the subsequent session, Malik Cahyadin presents the results of a FinTech user survey conducted in the Special Region of Yogyakarta, Central Java Province, and East Java Province. The survey is carried out from July to early August 2025 with support from the 2025 DIKTI Regular Research Grant. The research respondents consist of employees and micro-enterprise owners who use paylater services and peer-to-peer (P2P) lending platforms. The number of respondents reaches 351 individuals in the Special Region of Yogyakarta, 585 individuals in Central Java, and 738 individuals in East Java.

The survey results indicate varied respondent characteristics across provinces. In the Special Region of Yogyakarta, respondents are predominantly female (61.54%), Muslim (93.16%), with senior high school and undergraduate education backgrounds, and significant age groups in their thirties and fifties. In Central Java, respondents are also predominantly female (61.03%), mainly senior high school graduates (54.61%), predominantly Muslim (83.42%), and largely within the 18–22 age range. Meanwhile, respondents in East Java are predominantly female (65.45%), with education levels mainly at junior high school and undergraduate degree, predominantly Muslim (87.67%), and primarily within the 18–27 age range.

The research identifies several factors that significantly drive FinTech transactions across the three provinces, including technological adaptation and adoption capacity, positive perceptions of the impact of digital financial transactions for users, and the level of public trust in FinTech services.

Based on these findings, the FEB UNS research team recommends that financial authorities continue to promote financial literacy and inclusion, while FinTech service providers are expected to strengthen governance practices and the security of digital financial transactions.

From a global contribution perspective, the activity and its research outcomes align with the Sustainable Development Goals (SDGs), particularly SDG 8 (Decent Work and Economic Growth) through the strengthening of an inclusive financial ecosystem, and SDG 9 (Industry, Innovation, and Infrastructure) through the use of technological innovation in the financial sector.