Factors influencing economic behavior among university students

Factors influencing economic behavior among university studentsIntroduction.Economic behavior has a crucial role in understanding and forecasting patterns in the economic decisionmaking of individuals, groups, and society.Understanding consumer behavior is vital in designing effective economic policies.This study aims to understand and analyze patterns in economic decision-making by individuals, groups, and communities by identifying factors that influence economic behavior, both psychological, social, and financial.By understanding these factors, the research can provide deep insight into why people make certain economic decisions, which can be used to design more effective economic policies.Study participants and methods.The type of research used is a quantitative descriptive approach that aims to determine how much economic literacy, family economic education, socioeconomic status of parents, and economic rationality affect the economic behavior of State University in east Java students partially or simultaneously.The population in this study was 1545 students, while the sample taken was 384.Sampling in this study used a two-stage sampling technique.The first selection stage in this research used a regional sampling technique (cluster sampling); in the second stage, the piece was carried out randomly (random sampling).The data used quantitative data using questionnaires.While the analysis technique used in this study uses multiple linear regression.The results.The results of this study indicate that partially and simultaneously the independent variables have a significant relationship and influence on the dependent variable, simultaneously it can be seen from the R2 value of 0.361, meaning that the independent variable can explain or predict the value of the dependent variable by 36.1%, the remaining 63.9% is explained by factors other than the variables intended in this study.The calculated F value is obtained at 50,580 with a test significance of 0.000 because the test significance value is smaller than 0.05, it can be concluded that the linear equation form Y = a + bx can be used properly.In partial influence, the results obtained show that all independent variables have a significant influence on the dependent variable with the following results, on the effect of economic literacy on economic behavior obtained a regression coefficient value of (b) 0.397 at a significance level of 5% with a t value of 3.905 with a significance value of 0.00.The effect of Family Economic Education on Economic Behavior obtained a regression coefficient value of (b) 0.448 based on the calculation results with a t value of 4.913.On the effect of parents' socioeconomic status on economic behavior, a regression coefficient value of (b) 0.321 is obtained based on the calculation results with a t value of 4,480 and on the effect of economic rationality on economic behavior, a regression coefficient value of (b) 0.453 is found based on the calculation results with a t value of 6,506.Conclusions.This research examines the influence of economic literacy, economic education in the family, family socioeconomic status and rationalization on students' economic behavior.The results of this study provide valuable insights for policy researchers and higher education institutions on how to involve aspects of economic literacy, the importance of economic education in families, and socioeconomic status to encourage better economic behavior among students.