Journal of Economicate Studies

Higher Education Financing and Curriculum Development in Indonesian Islamic Higher Education Institutions (IHEIs)

Neli Alawiah — 2026-06-11

Despite extensive discussions on higher education financing and curriculum reform, limited attention has been given to how financial capacity shapes curriculum development in Indonesian Islamic Higher Education Institutions (IHEIs). This study addresses this gap by examining the nexus between higher education financing and curriculum development within the context of Indonesian Islamic higher education. Employing a qualitative library research design, the study analyzes scholarly literature, policy documents, and relevant empirical studies to identify patterns, challenges, and policy implications associated with financing and curriculum practices. The findings reveal that the availability, diversity, and sustainability of funding significantly influence curriculum innovation through investments in academic infrastructure, faculty development, digital learning resources, and quality assurance systems. However, disparities in institutional resources and funding structures among IHEIs generate uneven capacities for curriculum renewal and implementation. This study contributes to the literature by providing an integrated perspective on the interaction between financial resources and curriculum development in Islamic higher education and by highlighting the importance of equitable and sustainable financing policies to strengthen institutional adaptability and educational quality in Indonesia.

Health Literacy, Socio-Cultural Capital, and Household Financial Resilience: Evidence from Indonesia

Cian Ibnu Sina — 2026-08-31

Rising living costs and economic uncertainty threaten household financial resilience in Indonesia. This study analyzes the influence of health literacy and socio-cultural capital on household financial resilience in Indonesia. Using cross-sectional data from the Indonesian Family Life Survey (IFLS) wave 5 conducted in 2014-2015 with 5,269 household observations, this research estimates Ordinary Least Squares (OLS) models with controls for household and head-of-household characteristics. Results indicate that health literacy has a positive and significant relationship with household financial resilience (β=0.142, p<0.01), suggesting that understanding health information contributes to financial planning and health risk management. Socio-cultural capital, proxied through participation in social activities and cultural asset ownership, also associates positively with financial resilience (β=0.098, p<0.05), supporting the role of social networks and mutual assistance norms in economic protection. Household income, head-of-household education, and access to formal healthcare services emerge as other important predictors. These findings extend the human capital and social capital frameworks in the household financial resilience literature in developing countries, with policy implications for integrating health literacy and revitalizing socio-cultural capital as strategies for enhancing household economic resilience in Indonesia.

The Concept of Money in Islamic Economics: A Synthesis of Classical Muslim Scholars' Thought and Its Contemporary Relevance

Siti Zayyini Hurun’in — 2026-08-10

Money serves as a fundamental instrument in economic activity, functioning as a medium of exchange, a unit of account, and a store of value. However, the evolution of conventional economic thought has transformed money into a tradable commodity, enabling interest-based transactions that contradict Islamic economic principles. This conceptual article synthesizes the perspectives of classical Muslim scholars—Abu Ubaid, al-Ghazali, Ibn Taimiyah, Ibn Khaldun, and al-Maqrizi—on the nature and function of money within an Islamic framework. Through a comprehensive literature review and qualitative analysis of primary and secondary sources, the study identifies three core characteristics of money in Islamic economics: money as a flow concept (rather than a stock), money as a public good, and money's primary function as a medium of exchange and unit of account. The findings reveal that Islamic economics fundamentally rejects money as a commodity due to its lack of intrinsic utility, its independence from quality differentiation, and its non-specificity in transactions. The study contributes to the literature by providing a systematic framework for understanding monetary policy from an Islamic perspective, distinguishing between Islamic and conventional approaches to money, and offering policy implications for contemporary Islamic financial institutions. The findings have significant implications for monetary policy formulation, the regulation of Islamic financial institutions, and the development of ethical financial systems that prioritize real economic activity over financial speculation.