Economic Concepts Research Articles

Padusan Pacet Mojokerto Tourism Object Development Strategy to Improve Community Welfare

Tourism development is the key to the success of Mojokerto Regency as a developing city, which is able to transform Mojokerto Regency as a tourism destination as well as a tourist destination. The development strategy in Mojokerto district which was developed based on tourism destinations is closely related to the concept of defense economics so that it places the community as the main actor. The problem that then arises is that tourism development has implications for the welfare of the people of Mojokerto Regency. The trend of increasing local original income over the last five years has enabled the potential of the Mojokerto Regency tourism sector as an alternative for alleviating poverty as well as increasing community welfare. The research aims to analyze new tourism objects in Mojokerto Regency as well as increasing new economic sectors through tourism activities in each sub-district in the Mojokerto City area. The research used qualitative methods through interviews and observations at Mojokerto Regency Government levels as a tourist destination as well as group discussions with residents. The research results show that the tourism sector contributes to the welfare of Mojokerto Regency, especially equal distribution of income as well as regional cash income, however the facilities and infrastructure as well as tourism infrastructure still need to continue to be improved so as to attract more visitors to Mojokerto Regency.

Prinsip – Prinsip Ekonomi Islam dalam Perspetif IPTEKS

The purpose of this research is to explore the principles of Islamic economics in adapting to the rapid developments in science, technology, and arts (STEM). Islamic economics focuses on several aspects, including material, spiritual, and moral dimensions. This illustrates that the principles of Islamic economics should be applied to a broader environment, including developments in science, technology, and arts (STEM). Islamic economics is a system that adheres to the principles of Islamic law (Sharia). The concept of Islamic economics includes: Balance, Justice, and Safety, which serve as the foundation for resource management. There are many opportunities within Islamic economics to establish a new financial system, such as reporting and recording based on Sharia and utilizing more optimal technology. The application of this new Sharia financial system plays an important role in strengthening the principles of Islamic economics, including the prohibition of usury (riba), uncertainty (gharar), unjust distribution of wealth, and investments that harm the community. Investment in Islamic economics is a means of placing funds with the aim of generating profit, while adhering to the principles of Islamic economics, making it a permissible activity that avoids elements of usury, gambling (maysir), and uncertainty (gharar). The implementation of these principles of Islamic economics will ultimately benefit the community and prevent any harm. People must pay more attention to the legal foundations set by Sharia, which provides clear guidelines for a prosperous and balanced life, covering both social and economic aspects as well as the environment.

On secondary recycling of high-density polyethylene with reinforcement of stubble powder by a material extrusion process for construction applications

In the past two decades, several studies have been reported using agricultural waste as reinforcement in thermoplastic matrices for lightweight and tunable mechanical properties. However, the recycling of thermoplastic with reinforcement of agricultural waste has constraints in the form of the volume of recycled material to support the concept of a circular economy. One of the solutions for bulk consumption of such agricultural and thermoplastic waste is its use in construction applications. In the present study, high-density polyethylene (HDPE) was secondary (2°) recycled by reinforcement of stubble waste powder (SWP) through the material extrusion (MEX) process for possible applications in the construction industry. The melt flow index (MFI) investigation suggested the maximum loading of 15% SWP with the recycled HDPE matrix in the present case study. Further, the filament was prepared by using the design of experiment (DoE) with input parameters (heat treatment (pre-heat treatment (PreHT) and post-heat treatment (PostHT), barrel temperature (170–180°C) and screw speed (3–5 RPM) on single screw extruder). The results suggest that the combination of PreHT, 170°C-barrel temperature and 4 RPM screws speed resulted in a maximum Young’s modulus (E) of 1386.57 MPa. The PreHT has promoted the recrystallization of the HDPE-SWP blend, which has significantly increased E. The differential scanning calorimetry (DSC) reveals that the HDPE-SWP composite was more thermally stable after each thermal cycle. In addition, the results of this study were also supported and correlated with the observation of scanning electron microscopy (SEM), energy dispersive X-ray spectroscopy (EDS), thermogravimetric analysis (TGA), X-ray diffraction (XRD), Fourier transform infrared spectroscopy (FTIR), surface profiling and 3D printability with MEX.

Features and directions of the creative economy development: Chinese experience

The article systematizes the basic concepts in the creative economy, key factors of its effectiveness and the importance of organizational approaches for the social development of the state. Using China as an example, it is shown that its success is due to the significant role of the state, the use of advanced world experience in the formation of a post-industrial economy and its adaptation to achieve national goals. There are analyzed the main features of cultural industries and the characteristic features of cultural production. The advantages of creative industries in promoting national economic transformations, stimulating economic growth and creating jobs are revealed.

Teori Penawaran dalam Ekonomi Islam

This research aims to describe the concept of supply from an Islamic economic perspective and what factors influence supply. This issue is important to study because economics in Islamic economics offers a more inclusive and just approach. And what factors influence the offer? This article's research method uses quantitative methods using literature review techniques. The results of this research show that in sharia supply analysis, maximum production efficiency is achieved when the sharia economic concept with profit sharing instruments is chosen compared to the use of interest instruments in conventional economics. This new discourse and discoveries that are much better both theoretically and practically will further strengthen the argument that Islamic economics is a better system.

Upcycled cosmetic ingredients: extraction process optimization via green solvents by the means of I-optimal and Box–Behnken designs

Current trends are shifting attention to the sustainable valorization of food bio-waste management and by-product utilization, as they are rich in nutrients and bioactive compounds, such as dietary fiber, polyphenols, and peptides. Upcycled ingredients and green cosmetics are becoming more and more appealing concepts in the nutraceutical and cosmetic industries encouraging them to invest and develop sustainable products aligning with the green concept of circular economy. In this research, we focused on the waste products (peels) of super exotic fruits Litchi chinensis and Selenicereus undatus, which are packed with antioxidants, fibers, vitamins, and minerals. Extraction of the peels with green solvent (propylene glycol) was performed and optimized by the means of an I-optimal and box-behnken designs with different independent variables for each design and total phenolic content (TPC) as a response. The resulted optimized extract of lychee peels propylene glycol extract (LPPG) was evaluated in terms of anti-tyrosinase activity, resulting in an (IC50 = 264.1 ± 16.9 µg/mL) with an average inhibition percentage of (92.33%), DPPH assay was performed, revealing antioxidant activity of (2666.7 ± 68.71 µmol ascorbic acid/mL) and (24,774.68 ± 834.67 µmol ascorbic acid/mL) using ABTS assay. As for dried dragonfruit propylene glycol extract (DDPG), the antioxidant activity was found to be (1299.82 ± 20.80 µmol Ascorbic acid/mL) using DPPH assay and (1510.506 ± 12.93 µmol Ascorbic acid/mL) using ABTS assay. In conclusion, optimization of the extraction process of food by-products using propylene glycol as a solvent may offer a valuable sustainable cosmetic ingredient.

Development of Biodegradable Substrates and Synaptic Transistors for Next‐Generation Transient Electronics

AbstractUbiquitous electronic gadgets in lives have led to an increase in electronic waste (e‐waste), posing a threat to the environment and ecology that must be addressed. This work demonstrates the use of gelatin, a natural protein, for development of flexible biodegradable substrates and synaptic transistors using the same material as gate dielectric. The fabricated p‐channel transistors exhibit high electrical stability and exceptional synaptic characteristics through spike timing dependent plasticity (STDP), spike voltage dependent plasticity (SVDP), and spike number dependent plasticity (SNDP), respectively upon variation of post‐synaptic current (PSC) with time, amplitude, and number of stimuli. These devices exhibit pulse paired facilitation (PPF) with relaxation time constants in the range of ≈10 ms and regulating modulation amplitude of 1 greatly resembling a biological synapse. Study on the variability among distinct devices and over multiple cycles demonstrate outstanding repeatability of synaptic plasticity. The devices showcase significant PSC values with almost linear SNDP, while consuming an ultralow power of ≈11.7 fJ. Excellent stability is observed when subjected to multiple bending sequences. Complete dissolution of these devices in aqueous environments in an hour without any alteration to temperature or pH confirms excellent biodegradability of these devices leading toward transient neuromorphic circuits and systems that adhere to the concepts of circular economy.

Work, affection, and moral economy among Albanian domestic workers in Greece

AbstractThe moral economy framework sheds light on how economic activities and workplace practices are influenced and structured by moral sentiments, norms, and social relations. The concept of the moral economy is particularly applicable to domestic laboring spheres, where employee‐employer exchanges and relations are not merely contractual, but are embedded in moral and cultural values. This article builds on moral economy theory to analyze informal relations and workplace practices among 19 Albanian domestic workers in Greece and their employers. The study reveals how social and economic relations are constructed and shaped through the emotional and intimate nature of domestic work, as well as through moral/ethical sentiments, norms, and behaviors. The everyday working practices and emotional attachments between the employers and the employees seemed to reproduce, construct, and rebuild home‐like settings, kin relations, and feelings. While such emotional affection impacted some women positively, other women considered it a burden because of their inability to claim their rights.

A Closed-Loop Economy in the Meat Industry for Generating Alternative Energy from Biogas Plants

This study deals with the concept of a closed-loop economy in the meat industry through the use of animal by-products in biogas plants for electricity generation processes. The purpose of the study was to identify the volume of by-products from the slaughter of cattle and pigs, how the by-products are managed, and the efficiency of their use in biogas plants for electricity production processes. The analyses used data from the Central Statistical Office, the Chief Veterinary Inspectorate, and information obtained from the Polish Agency for Enterprise Development. Studies from the literature on closed-loop economies and bioeconomies were also a valuable source of information. Based on case studies, this paper also presents examples of a closed-loop economy in meat companies. In the area of pork, poultry, and beef livestock production, the analysis covered the years 2004–2022, while in the area of the production and use of meat industry by-products, the data came from 2017–2022. The study shows that reducing the production of waste in the meat industry and the reuse and recycling of waste are important parts of a closed-loop economy. In meat companies, waste from slaughtering animals can be properly managed, either by processing it into animal feed or by using it in biogas plants to generate electricity or heat. Taking into account the number of by-products from cattle and pig slaughter in the country, biogas plants could produce approximately 95,232 MW of electricity per year, which constitutes approximately 4.3% of the energy intensity of the meat industry in Poland.

Digital economy’s role in shaping China’s outward investment in Belt and Road countries

Previous international investment-related literature is less likely to include host country digital economy as an influential factor in the analysis framework. Meanwhile digital economy-related literature mainly focuses on the concept and characteristics of digital economy, and few scholars explore the impact and mechanism of China’s OFDI in the context of digital economy. Based on the theory and mechanism analysis, this article first constructs a comprehensive digital economy indicator system using data from 46 B&R countries from 2004 to 2020 and then constructs extended investment gravity model, technological innovation intermediary impact and trade cost moderating effect to thoroughly investigate the effect and fundamental mechanism of digital economy on China’s OFDI. The conclusions are as follows: First, digital economy indicators’ computation reveals significant disparities among B&R countries. Second, baseline regression finds that B&R countries’ digital economy considerably boosts China’s OFDI. Third, regional heterogeneity reveals that digital economy in ASEAN countries plays a more visible role in boosting China’s OFDI. Fourth, mechanism analysis reveals that B&R countries’ digital economy can encourage China’s OFDI by improving technological innovation and reducing trade costs.

Industrial Carbonate Production with Ornamental Stone Quarry Waste: From the Waste Pile to Final Product

Objective: The objective of this study is to analyze the utilization of ornamental stone quarry waste and its transformation into industrial carbonate production, aiming to promote circular economy practices in mining. Theoretical Framework: This research is grounded in concepts of sustainable waste management and circular economy in the mining sector, emphasizing theories related to waste transformation into valuable industrial products. Method: The methodology included technical visits to a quarry and a processing plant, where extraction, storage, and processing practices of waste were observed and documented. Data collection involved interviews with production teams and 3D modeling of mining areas. Results and Discussion: The results revealed that quarry waste from ornamental rock production can be used to produce carbonates of various particle sizes, suitable for applications in the construction, thermoplastics, and other industries. The analysis highlighted the feasibility of converting mining waste into high-value materials, contributing to the sustainability of the sector. Research Implications: This research provides practical insights into how mining waste can be efficiently managed and repurposed, promoting a more sustainable approach to waste management. Originality/Value: The study contributes by demonstrating and documenting the utilization of waste materials, showcasing their applications across diverse sectors, and reinforcing the economic and environmental benefits of circular economy practices in mining.

Innovation and Quality of Business Scale Based on Blue Economy in the Coastal Area of Bilato, Indonesia

Abstract This study thoroughly examines and analyzes the potential of small and medium-sized enterprises (SMEs) involved in Nike fish (Ikan Nike) in the Bilato coastal area of Indonesia. Several aspects are used as indicators to assess the extent of this potential, including innovation, scale quality, and the application of the blue economy concept. The methodology employed is qualitative, also known as interpretative research, naturalistic research, or phenomenological research. The results of this study indicate a significant and positive improvement among the SMEs involved in Nike fish, particularly in terms of innovation, which encompasses product innovation, sales media innovation, and environmental innovation. Additionally, there has been notable development in scale quality, as evidenced by increases in income, sales, and business profits. Furthermore, the SMEs participating in the Nike fish group consistently implement the blue economy concept as a means of ensuring sustainability and balance in preserving the environment in the Bilato coastal area. This approach not only enhances economic value but also contributes to social and ecological benefits.

Perspektif Akuntansi dalam Ekonomi Islam

In several ways, the sharia accounting system is different from conventional accounting. However, there are axiomatic technical similarities between the two. By using descriptive qualitative methods, this research aims to provide the author with an understanding of accounting theory and practice in Islamic economics. The research results show that the perspective of accounting science in Islamic economic practice focuses on the use of an accounting system that is in accordance with sharia principles, which prioritizes truth, accuracy and fairness. Surah Al-Baqarah verse 282 emphasizes clear and accurate transaction recording, the use of honest writers, financial accountability, zakat, and transparency and fairness in accounting. The results of this research conclude that there are many ways to see the economic implications of Islam today. First, Islamic economics must adapt to technological changes because they have influenced the way people think and act. Second, the history of Islamic economics has changed in the modern era, and third, Islamic economics is now real and relevant with the development of digital technology. Fourth, the concept of Islamic economics is based on the Koran and Sunnah. Compared to Conventional Accounting: Sharia accounting systems differ from conventional accounting in several key aspects. However, there are axiomatic technical similarities between the two.

Introduction to the Special Issue

This special issue of the Journal of Benefit–Cost Analysis is dedicated to the memory of Jerry Ellig, a brilliant economist whose untimely death in 2021 cut short a productive and influential career in government and academia. Jerry was adept at applying economic concepts and empirical analysis to improve public policy, and he enjoyed not only studying real policy problems, but finding practical solutions to them. He was also a generous mentor, supporting and collaborating with graduate students and colleagues to publish prolifically in peer-reviewed economics, public administration, and political science journals, as well as law reviews and more popular outlets. He was a great communicator, able to take his academic work and translate it for different audiences, including through testimony, seminars, op-eds, short presentations, and classroom teaching. In addition to these immense talents, Jerry was genuinely kind and unpretentious; he wore Wal-Mart suits and garish ties. And he was laugh-out-loud funny, a master at diffusing difficult situations with a witty, but never mean, quip.

Circular Economy, Pengelolaan Sampah Organik melalui Budidaya Maggot dan Jamur Tiram di Kecamatan Sambikerep Surabaya

This project aims to manage organic waste in Sambikerep District, Surabaya, through the cultivation of maggots and oyster mushrooms as part of a circular economy concept. The activity is conducted by Master of Management students from Universitas Airlangga in a Creating Shared Value (CSV) program to support the achievement of Sustainable Development Goals (SDGs), particularly SDG 1 (No Poverty) and SDG 13 (Climate Action). This program provides economic opportunities for low-income communities, especially housewives, and promotes climate change adaptation and mitigation. The program’s success indicators include the number of participants, participant feedback, and the availability of supporting facilities, all of which were achieved successfully. A Social Return on Investment (SROI) analysis was also conducted to assess the program's impact on stakeholders, including students, local residents, and partners. The program results provide various skills and benefits, such as leadership, communication, and community relations, measured in monetary terms as a proxy for the training and resources provided.

Measuring economic graph competence

The ability to work with graphs is at the core of the economic domain and is also one of the central challenges for novices in the field. To accurately assess the graph competence of higher education students, we developed and tested an 18-item graph competence instrument with different economics graphs. The sample consisted of 579 students from multiple higher education institutions in southwestern Germany. Our findings reveal that while students generally perform well on basic graph operations, they struggle with complex tasks such as comparing quantities and understanding economic implications, particularly with supply and demand models and indifference curves. The results highlight the need for instructional focus on integrating graph reading with economic concepts and provide a diagnostic tool for further research. The study underscores the challenges faced by learners, especially those with limited economic background and female students, and offers insights for improving economic graph education.

Smart Circular Economy in healthcare – An introduction to the 9R framework

Abstract This contribution examines the concept of circular economy (CE) within the healthcare sector, introducing the 9R paradigm as a novel framework for the implementation of sustainable strategies. Given the significant CO2 emissions from the medical device sector and the heterogeneous digitalization across the industry, CE offers an avenue to minimize environmental impact while simultaneously enhancing patient care. Leveraging advanced data platforms and digital technology can help reduce resource waste and CO2 emissions, while also optimizing patient care by avoiding redundant diagnostics and treatments. The contribution provides a brief introduction for the application of the 9R paradigm in the healthcare sector and highlights the opportunities associated with the implementation of CE strategies. It outlines innovative data-driven business models based on CE and digital transformation principles. In conclusion, the strategic application of R-strategies can be described as a multi-layered approach requiring close collaboration among all stakeholders to shape a more sustainable and efficient future in healthcare and provide new digital business models.

Beyond Charity

Waqf and social-based healthcare institutions have existed for more than 150 years and were derived from the social economy concept, which emphasises social innovation in the economy. While Muslims are well-known for developing waqf, other religions, particularly Christianity, used philanthropic methods to create a diverse range of institutions that benefit the community. However, the three distinctive features prescribed by the Shariah law to prevent waqf assets from being sold or transferred to other parties have distinguished waqf from other institutions. The abundance of challenges in the economic and health sectors has threatened the sustainability of waqf and other social-based healthcare. Thus, this research aims to explore the philosophies underlying the establishment of each waqf and social-based healthcare institution through a qualitative methodology involving an in-depth investigation. Six of the fifteen identified waqf and social-based healthcare institutions participated in the interviews, and the transcripts were then analysed inductively using the NVivo software. Each code and theme produced is based on the conceptual framework that has been formed. The themes were compared to observe the similarities and differences in terms of the institutions’ background and philosophy of the establishment. The findings of this research reveal that despite the crucial roles of waqf healthcare institutions, the fact remains that they are still far behind in fulfilling the healthcare needs of the Muslim community. Meanwhile, the analysis of the institutions’ background philosophy revealed that the establishment of waqf and social-based healthcare is motivated by religion.

Finding Effective Factor for Circular Economy Using Uncertain MCDM Approach

The paper aims to analyze the efficiency of the related criterion for adopting the circular economy concepts. The five related criteria, namely sustainability, resource management, product lifespan, collaboration and partnerships, and technology-innovation, are considered to formulate the decision-making models. For methodology, interval-valued DEMATEL is considered. Multi expert’s data sets are taken to reach the final decision. Finally, analysis of the result in an uncertain environment and the scatter diagram to examine the dependency among the criteria.

Introduction to Creative Economy for Early Childhood in Beurandeh Village: Building a Creative and Independent Generation

Themed community service activities aim to introduce the basic concepts of creative economy to young children. This activity was implemented with interactive learning methods involving stories, games, and creative activities, such as making crafts and painting. The active participation of 20 children aged 5 to 8 years old showed high enthusiasm, which contributed to the improvement of children's understanding of creative economy concepts and practical skills. The results of the activity showed a significant increase in understanding and skills, with the percentage of basic understanding increasing from 70% to 85% and practical skills from 60% to 80%. In addition, this activity also succeeded in fostering children's independence and creativity, which is expected to be a provision for a more creative and innovative generation in the future. The main challenges in implementing this activity are the limited props and the lack of understanding of parents about the importance of the creative economy at an early age. The long-term impact of this activity is expected to improve community welfare through the development of an independent and innovative creative generation.