Yogyakarta, 30 November 2020. The Master of Science and Doctoral Program at FEB UGM held a public lecture online via the Zoom Meeting platform with the title “Balance of Economic Fluctuations, Real Interest Rates, Inflation, Exchange Rates, and Domestic Capital Flows: Neoclassical Synthesis (Keynesian) Approach New Bastar”. In this public lecture, Prof. Insukindro, M.A., Ph.D., who is one of the senior professors at the Faculty of Economics and Business UGM, acted as a speaker accompanied by Mrs Sekar Utami Setiastuti, M.Sc., Ph.D. as moderator.
Also attending and giving remarks at the beginning of the event was the Dean of FEB UGM, Mr Eko Suwardi, M.Sc., Ph.D., and Mr. Rimawan Pradiptyo, M.Sc., Ph.D. as the Head of the Department of Economics, FEB UGM. The event for approximately two hours attracted the attention of at least 180 participants from inside and outside Yogyakarta. Likewise, with the background of participating institutions, ranging from undergraduate, postgraduate, doctoral students, as well as from government agencies.
The material given in this short public lecture is quite dense but profound. The discussion of the material begins with a glimpse of the material regarding the development of macroeconomic streams. Prof. Insukindro explained that economic analysis is influenced by two groups of flows when viewed from the property aspect, namely (1) economic standard flow and (2) non-standard economic flow. The discussion of the material then continues regarding new macroeconomics: new neoclassical (Keynesian) synthesis, new aggregate supply and demand and new macroeconomic equilibrium, and the new hybrid neoclassical (Keynesian) synthesis model.
The last material presented by the speaker was regarding general balance (combined), shocks of aggregate supply and demand (Covid-19 case) as well as proposals/evaluations of macroeconomic policies: assumptions of the Health protocol being implemented. It was also explained that in fact, there had been a recession that occurred from the first quarter of 2020 to the third quarter. And the deepest recession occurring in the second quarter.
In the end, the participants were given time to ask questions and discuss with the speakers about the material that had been given.
This public lecture material can be downloaded at the following link: materi