Factors affecting K-economy readiness: a study in higher education





career readiness; entrepreneurial thinking; ICT skills; k-economy readiness; social and cross-cultural skills


Introduction: Higher education plays a crucial role in the innovation system of the K-economy by generating substantial scientific and technical advancements and fostering innovative individuals. It is essential to investigate the K-economy readiness of the education sector, as past studies have mostly focused on this topic in the industrial sector.

Objective: To determine the effect of entrepreneurial thinking, ICT skills, social and cross-cultural skills, and career readiness on the K-economy readiness of undergraduate students.

Methods: This research question was answered using multiple regression analysis of survey data collected from 578 undergraduate students of Economics Education at six teacher-based universities on the island of Java, Indonesia.

Results: This study found that entrepreneurial thinking, ICT skills, social and cross-cultural skills, and career readiness all positively and significantly affect the K-economy readiness of undergraduate students.

Conclusion: Implementing education policy adjustments based on this study's findings can enhance student knowledge and skill development in higher education to increase competitiveness in the K-economy. Higher education needs to rely on information and innovation to effectively contribute to economic and social growth sustainably through the K-economy.


Download data is not yet available.


Abrantes, J. L., Cunha, M., Amante, M. J., Correia, P., & Santos, P. (2021). Digital Education. Millenium-Journal of Education, Technologies, and Health, 2, 5–6. https://doi.org/https://doi.org/ 10.29352/mill029e.25943

ACT (2019). The Condition of College & Career Readiness 2019. In The Condition of College & Career Readiness 2019. http://www.act.org/research/policymakers/cccr13/pdf/CCCR13-NationalReadinessRpt.pdf

Aryani, M. (2020). The Prospect of Indonesian Knowledge-Based Economy: Lessons from Taiwan. Global and Policy Journal of International Relations, 7(2), 202–215. https://doi.org/10.33005/jgp.v7i02.1835

Bacigalupo, M., Kampylis, P., Punie, Y., & Brande, L. Van den. (2016). EntreComp: The Entrepreneurship Competence Framework (EAC-2014-0517 JRC; Issue 2).

Bican, G. (2021). Enhancing the Cross-Cultural Competence of Prospective Language Teachers. Journal of Curriculum and Teaching, 10(3), 47–57. https://doi.org/10.5430/jct.v10n3p47

Bougie, R., & Sekaran, U. (2020). Research Methods for Business: A Skill-building Approach. In Encyclopedia of Quality of Life and Well-Being Research (8th Editio). Wiley. https://doi.org/10.1007/978-94-007-0753-5_102084

BPS Indonesia. (2022). Statistik Indonesia 2022. In Statistik Indonesia 2022.

Davis, M. H., Hall, J. A., & Mayer, P. S. (2015). Developing A New Measure of Entrepreneurial Mindset: Reliability, Validity, and Implications for Practitioners. Consulting Psychology Journal: Practice and Research, October, 1–30. https://doi.org/10.1037/cpb0000045

Deming, D. J., & Noray, K. (2020). A vast body of work in economics finds that technological change increases the relative demand for educated workers, which leads to rising wage inequality when the supply of skills grows more slowly (e.g.., Katz and Murphy 1992). Berman, Bound, and Grill. The Quarterly Journal of Economics, 1965–2005. https://doi.org/10.1093/qje/qjaa021

Direktorat Jenderal Pendidikan Tinggi. (2020). Statistik Pendidikan Tinggi (Higer Education Statistic) 2020. In Setditjen Dikti, Kemendikbud. https://doi.org/2528 - 0252

Ghozali, I. (2018). Aplikasi Analisis Multivariate dengan Program IBM SPSS 25 (9th ed.). Badan Penerbit Universita Diponogoro.

Hope, D., & Limberg, J. (2021). The Knowledge Economy and Taxes on the Rich. Journal of European Public Policy, 0(0), 1–20. https://doi.org/10.1080/13501763.2021.1992483

Nuraini, U., Sahid, S., & Hussin, M. (2023). A Systematic Literature on K-Economy Readiness in Higher Education. Educacion y Humanismo, 25(45), 161–183. https://doi.org/10.17081/eduhum.25.45.6471

Olatoye, O. I. O., Nekhwevha, F., & Muchaonyerwa, N. (2021). ICT Literacy Skills Proficiency and Experience on the Use of Electronic Resources Amongst Undergraduate Students in Selected Eastern Cape Universities, South Africa. Library Management, 42(6–7), 471–479. https://doi.org/10.1108/LM-08-2020-0118

Parveen, S., Mahmood, B., Siddiqui, S., Ch., A., & Mushtaq, M. (2021). Role of Higher Education in Creation of Knowledge Economy in Punjab, Pakistan. Revista Amazonia Investiga, 9(36), 38–50. https://doi.org/10.34069/ai/2020.36.12.3

Perera, M. A., Fernandes, T., & Paniker, P. (2018). Career Readiness: A Survey on Effectiveness of Learning. International Journal of Engineering Technologies and Management Research, 5(11), 1–21. https://doi.org/10.5281/zenodo.2281404

Prelipcean, G., & Bejinaru, R. (2018). University Agenda for Developing Students’ Skills in The Knowledge Economy. Strategica Challenging The Status Quo in Management and Economics, 6th International Academic Conference on Strategica-Challenging the Status Quo in Management and Economics, 587–598. https://strategica-conference.ro/wp-content/uploads/2022/05/52.pdf

Rifa’i, Achmad, N. E. T. (2019). Rencana Strategi dalam Menerapkan Pendidikan Kewirausahaan di Perguruan Tinggi melalui Proses Pembelajaran yang Berkelanjutan. Jumanis-Baja: Jurnal Manajemen Dan Bisnis Baja, 1(2), 71–90.

Rohimah. (2021). Knowledge-Based Economy As Human Capital Investment to Drive The Nation’s Economic Growth. Tahdzib Al-Akhlaq: Jurnal Pendidikan Islam, 4(1), 29–46. https://doi.org/https://doi.org/10.34005/ tahdzib.v4i1.1303

Safitri, & Syofyan. (2023). Pengaruh Pengalaman Magang dan Future Time Perspective terhadap Kesiapan Kerja Mahasiswa Fakultas Ekonomi Universitas Negeri Padang. Jurnal Pendidikan Tambusai, 7(1), 3857–3865. https://doi.org/10.31004/jptam.v7i1.5851

Stam, E., & Garnsey, E. W. (2018). Entrepreneurship in the Knowledge Economy 1 Erik Stam & Elizabeth Garnsey University of Cambridge. April 2007. https://doi.org/10.2139/ssrn.1923098

Trilling, B., & Fadel, C. (2009). 21st Century Skills: Learning for Life in Our Times (First Edition). Jossey-Bass.

Vlasov, M., Polbitsyn, S. N., Olumekor, M., & Oke, A. (2022). The Influence of Socio-Cultural Factors on Knowledge-Based Innovation and the Digital Economy. Journal of Open Innovation: Technology, Market, and Complexity, 8, 1–13. https://doi.org/https://doi.org/10.3390/ joitmc8040194

World Bank Institute. (2009). Measuring Knowledge in the World’s Economies. http://siteresources.worldbank.org/Intunikam/ Resources/Kam_v4.pdf

Zou, L., & Zhu, Y. W. (2021). Universities’ Scientific and Technological Transformation in China: Its Efficiency and Influencing Factors in the Yangtze River Economic Belt. PLoS ONE, 16(12 December), 1–18. https://doi.org/10.1371/journal.pone.0261343




How to Cite

Nuraini, U., Sahid, S., & Hussin, M. (2024). Factors affecting K-economy readiness: a study in higher education . Millenium - Journal of Education, Technologies, and Health, 2(24), e34723. https://doi.org/10.29352/mill0224.34723



Engineering, Technology, Management and Tourism