Economic, Accounting, and English Language Literacy as the Foundation of Student Competitiveness in the Global Labor Market

Sri Martina, Djuli Sjafei Purba

Abstract


The competitiveness of higher education graduates in the global labor market is no longer determined solely by academic achievement, but increasingly by the mastery of multidimensional literacy aligned with international industry demands. In response to this shift, this study investigates the role of economic literacy, accounting literacy, and English language proficiency as strategic foundations for enhancing students’ employability and professional competitiveness at the global level. This study adopts a qualitative literature review approach with descriptive analysis. Data were collected from Google Scholar and other reputable academic databases by reviewing scholarly publications released between 2010 and 2026. An initial pool of 70 articles was identified, from which 50 studies were selected through a systematic screening process based on relevance to the research focus, methodological quality, and the significance of their findings. The analysis reveals that economic literacy, accounting literacy, and English proficiency are closely interconnected and should not be developed in isolation. A lack of integrated literacy development contributes to skill mismatch, weak analytical abilities in contextual economic and financial situations, and limited professional communication skills among graduates in global workplace settings. Furthermore, evidence from case studies indicates that insufficient mastery of these integrated literacies often becomes a critical barrier in recruitment processes and professional performance within multinational companies. Based on these findings, this study emphasizes the importance of cross-disciplinary curriculum integration in higher education. It also recommends the implementation of project-based learning, global simulation activities, and strengthened collaboration between higher education institutions and international industries as sustainable strategies to enhance graduate competitiveness and better prepare students for the challenges of the global labor market.


Keywords


Economic Literacy, Accounting Literacy, English Language, Student Competitiveness, Global Labor Market

Full Text:

PDF

References


Açıkgöz, T., & Babadoğan, M. C. (2021). Competency-Based Education: Theory and Practice. Psycho-Educational Research Reviews, 10(3), 67–95. https://doi.org/10.52963/PERR_Biruni_V10.N3.06

Aizawa, I., Rose, H., Thompson, G., & Curle, S. (2023). Beyond the threshold: Exploring English language proficiency, linguistic challenges, and academic language skills of Japanese students in an English medium instruction programme. Language Teaching Research, 27(4), 837–861. https://doi.org/10.1177/1362168820965510

Al Khateeb, A. A., Aldosemani, T. I., Abu-Dawood, S., & Algarni, S. (2024). Alignment of University Competencies With Global Skill Measures. International Journal of Information and Communication Technology Education, 20(1), 1–16. https://doi.org/10.4018/IJICTE.336559

Al Shuaili, A. S. T. (2025). Bridging the skills gap: Technical and vocational education and training student competencies and labor market alignment in Oman. Vocation, Technology & Education, 2(3), 1–11. https://doi.org/10.54844/vte.2025.0991

ASEAN CPA. (2020). Building the Profession through Accountancy Education: An Indonesian Perspective. Sseancpa.Org. https://aseancpa.org/2020/07/23/building-the-profession-through-accountancy-education-an-indonesian-perspective

Azman, A., Ambiyar, Wakhinuddin Simatupang, Arwizet Karudin, & Oskah Dakhi. (2020). Link and Match Policy in Vocational Education to Address the Problem of Unemployment. International Journal of Multi Science, 1(6), 76–85.

Betakan, M. B., Owusu, A. A., & Tufuor Kwarteng, J. (2024). Determinants of learning strategies among undergraduate accounting students: a study in an emerging economy. Cogent Education, 11(1). https://doi.org/10.1080/2331186X.2024.2432738

Bucci, A., Calcagno, R., Marsiglio, S., & Sequeira, T. N. (2025). Financial literacy, human capital and long-run economic growth. The North American Journal of Economics and Finance, 80, 102468. https://doi.org/10.1016/j.najef.2025.102468

Chelsya, C. (2025). The Importance of Cash and Bank Management and Inspection: An Education. Advances in Community Services Research, 4(1), 1–9. https://doi.org/10.60079/acsr.v4i1.641

Daud, K. A. M. (2021). Employability skills: What do employers need? Nucleation and Atmospheric Aerosols. Academia, 1.

Devetter, F.-X., & Puissant, E. (2020). Economic Mechanisms Explaining Low Wages in the Personal Services Sector. Travail et Emploi, (Hors-série), 53–84. https://doi.org/10.4000/travailemploi.10026

Dumas, G., & Quemener, Y. (2025). Changing Students Views of Accounting: The Effect of Teaching Through Business Simulation. Finance Contrôle Stratégie, NS-17, 1–30. https://doi.org/10.4000/1411x

Elshaiekh, N. E., Shehata, A., & Al Hosni, N. (2024). Enhancing Students’ Knowledge-Based Economy Skills at Sultan Qaboos University. Education Sciences, 14(11), 1141. https://doi.org/10.3390/educsci14111141

Esangbedo, C. O., Zhang, J., Esangbedo, M. O., Kone, S. D., & Xu, L. (2023). The role of industry-academia collaboration in enhancing educational opportunities and outcomes under the digital driven Industry 4.0. Journal of Infrastructure Policy and Development, 8(1), 2569. https://doi.org/10.24294/jipd.v8i1.2569

Fauzi, N. I., & Ridwan, R. (2025). The Impact of Communicative Language Teaching on English Speaking Skills. Dinasti International Journal of Education Management And Social Science, 6(3), 1774–1781. https://doi.org/10.38035/dijemss.v6i3.3819

Fitria, T. N. (2025). The Role of English in Multidisciplinary Informatics Education: Preparing Students for Global Tech Communication. International Conference of ITB AAS Indonesia, 1(1), 374–406.

Guo, M. (2023). A Study on the Problems Faced by Graduates’Employability and Strategies for Improvement. Scientific and Social Research, 5(11), 65–69. https://doi.org/10.26689/ssr.v5i11.5614

Hasrina, C. D., Yusri, Y., & Azlim, A. (2016). Efforts of Accounting Graduates to Improve Their Quality in Asean Economic Community (AEC) Era. Proceeding International Conference (SBC-MEA) 2016, 1(1), 60–65.

Hossain, K. I. (2024). Literature-based language learning: Challenges, and opportunities for English learners. Ampersand, 13, 100201. https://doi.org/10.1016/j.amper.2024.100201

Katnic, I., Katnic, M., Orlandic, M., Radunovic, M., & Mugosa, I. (2024). Understanding the Role of Financial Literacy in Enhancing Economic Stability and Resilience in Montenegro: A Data-Driven Approach. Sustainability, 16(24), 11065. https://doi.org/10.3390/su162411065

Khan, I. M., Edwards, E., Ianicelli, B. M., Ahmed, W., Hardey, M., & Eremionkhale, G. (2025). University-industry collaboration for academic success and employability: a connectivist perspective. Studies in Higher Education, 1–21. https://doi.org/10.1080/03075079.2025.2545606

Kho, M. G.-W., & Ting, S.-H. (2024). Overcoming obstacles: Insights into the English language proficiency of diploma students in a Malaysian polytechnic. Al-Azkiyaa - International Journal of Language and Education, 3(1), 76–97. https://doi.org/10.33102/alazkiyaa92

Larios, S. O. A., Mendoza Ibarra, V., Moscoso Cuaresma, J. R., Urdanegui Sibina, R., Stone, D., Huamani Cerrón, A., & Pretell Pintado, E. A. (2025). Transforming accounting education: integrating technological, soft and research skills in education. Cogent Education, 12(1), 1–26. https://doi.org/10.1080/2331186X.2025.2478304

Mahardhani, A. J., Bernadetha Nadeak, Ita Musfirowati Hanika, Izlan Sentryo, & Rosmalina Kemala. (2023). A New Approach to Curriculum Development: The Relevance of the Higher Education Curriculum to Industry Needs. International Journal of Educational Research Excellence (IJERE), 2(2), 501–509. https://doi.org/10.55299/ijere.v2i2.620

Maksan, N. I., & Sukri, H. I. M. (2025). The Importance of English Language Proficiency on Employability in Malaysia among Non-English Major Students. International Journal of Research and Innovation in Social Science (IJRISS), ix(xxiv), 770–781.

Merter, A. K., & Balcıoğlu, Y. S. (2025). Financial literacy and decision-making: The impact of knowledge gaps on financial outcomes. Borsa Istanbul Review, 25, 101–108. https://doi.org/10.1016/j.bir.2025.07.010

Muflihin, M. H., Arif Budi Raharjo, Hanif Cahyo Adi Kistoro, & Khairul Ummah Mohamad Jodi. (2024). Competence Strengthening of Hard Skills and Soft Skills of Prospective Religious Education Teacher Students through the Introduction to School Field Program (PLP) in Indonesia. Jurnal Pendidikan Agama Islam, 21(1), 60–73. https://doi.org/10.14421/jpai.v21i1.8554

Nguyen, L. T., Wisassinthu, B., Chaikhambung, J., Kwiecien, K., Jitsaeng, K., Suthiprapa, K., Hunsapun, N., Junlabuddee, S., Hoaihongthong, S., Chaichuay, V., Chansanam, W., & Tuamsuk, K. (2025). Competency-based curriculum design for a Master of Information Science Program. Journal of Librarianship and Information Science. https://doi.org/10.1177/09610006251367456

Otermans, P., Small, S., Pereira, M., Sridharan, P., & Aditya, D. (2025). Students’ and graduates’ perspectives on skill development in higher education. Journal of Education and Work, 38(1–4), 84–112. https://doi.org/10.1080/13639080.2025.2576858

Petrov, G. (2025). Enhancing employability skills through project-based learning in business education: addressing the needs of widening participation students. Journal of Learning Development in Higher Education, (34), 1–14. https://doi.org/10.47408/jldhe.vi34.1391

Phan, D., Yapa, P., & Nguyen, H. T. (2021). Accounting graduate readiness for work: a case study of South East Asia. Education + Training, 63(3), 392–416. https://doi.org/10.1108/ET-02-2019-0036

Pratama, N. R., Wahyu, & Riya Rahmadani. (2024). Economic Literacy and Human Development through Technology-Based Economic Education for Generation Z Students. Journal of Economic Education and Entrepreneurship Studies, 5(4), 656–671. https://doi.org/10.62794/je3s.v5i4.4392

Puspitaningtyas, Z. (2010). Decision Usefulness Approach Of Accounting Information: Bagaimana Informasi Akuntansi Menjadi Useful ? AKRUAL: Jurnal Akuntansi, 2(1), 92. https://doi.org/10.26740/jaj.v2n1.p92-108

Rahman, T., Nurul Fitria, Evi Nurhidayah, & Ika Yuliandani. (2023). Effects of Project-Based Learning on Employability Skills. Review of Islamic Studies, 2(1), 1–10. https://doi.org/10.35316/ris.v2i1.473

Rahmi, W. (2024). Analytical Study of Experiential Learning: Experiential Learning Theory in Learning Activities. EDUKASIA: Jurnal Pendidikan Dan Pembelajaran, 5(2), 115–126. https://doi.org/10.62775/edukasia.v5i2.1113

Römgens, I., Scoupe, R., & Beausaert, S. (2020). Unraveling the concept of employability, bringing together research on employability in higher education and the workplace. Studies in Higher Education, 45(12), 2588–2603. https://doi.org/10.1080/03075079.2019.1623770

Saryadi, S., Maksum, I. R., & Juwono, V. (2024). Implementation of link and match policy to enhance employment of graduates: A case study in vocational high schools. Journal of Infrastructure Policy and Development, 8(8), 5601. https://doi.org/10.24294/jipd.v8i8.5601

Shuhidan, S. M., Mastuki, N., & Nori, W. M. N. W. M. (2015). Accounting Information System and Decision Useful Information Fit Towards Cost Conscious Strategy in Malaysian Higher Education Institutions. Procedia Economics and Finance, 31, 885–895. https://doi.org/10.1016/S2212-5671(15)01186-7

Supriadi, S. (2024). Analysis Of Basic Understanding Of Economics For New Students Of The Economic Education Study Program University Of Jambi. Journal of Economic Education, 3(2), 31–36.

Surya, B., Menne, F., Sabhan, H., Suriani, S., Abubakar, H., & Idris, M. (2021). Economic Growth, Increasing Productivity of SMEs, and Open Innovation. Journal of Open Innovation: Technology, Market, and Complexity, 7(1), 20. https://doi.org/10.3390/joitmc7010020

Tettamanzi, P., Minutiello, V., & Murgolo, M. (2023). Accounting education and digitalization: A new perspective after the pandemic. The International Journal of Management Education, 21(3), 100847. https://doi.org/10.1016/j.ijme.2023.100847

Ting, S.-H., Marzuki, E., Chuah, K.-M., Misieng, J., & Jerome, C. (2017). Employers’ Views on Importance of English Proficiency and Communication Skill for Employability in Malaysia. Indonesian Journal of Applied Linguistics, 7(2), 77. https://doi.org/10.17509/ijal.v7i2.8132

Tushar, H., & Sooraksa, N. (2023). Global employability skills in the 21st century workplace: A semi-systematic literature review. Heliyon, 9(11), e21023. https://doi.org/10.1016/j.heliyon.2023.e21023

Ulaini, N., & Fitrisia, A. (2025). Enhancing Vocational Education in Egypt: The Role of Project-Based Learning in Developing 21st-Century Skills. AL-ISHLAH: Jurnal Pendidikan, 17(1), 331–343. https://doi.org/10.35445/alishlah.v17i1.6051

Wahyuni, E. S., Putri Mauliza, & Sri Yanti. (2024). Literature: Comparison Financial Literacy In The World Milenial VS Gen Z. Digital Innovation : International Journal of Management, 1(3), 156–273.

Wang, Y., Yue, Y., Wang, W., & Zhang, G. (2025). Uncovering Non-native Speakers’ Experiences in Global Software Development Teams——a Bourdieusian Perspective. Computer Supported Cooperative Work (CSCW), 34(1), 41–76. https://doi.org/10.1007/s10606-024-09504-y

Wikipedia. (2026). Skills-based hiring. Wikipedia. https://en.wikipedia.org/wiki/Skills-based_hiring

Yanto, H., Fam, S.-F., Baroroh, N., & Jati, K. W. (2018). Graduates’ accounting competencies in global business: Perceptions Of Indonesian practitioners and academics. Academy of Accounting and Financial Studies Journal, 22(3), 1–17.

Yen, W. T. M., Yen, Y. Y., Choy, C. S., Nee, T. W., & Ming-Li, T. (2023). Perspectives of employers on graduate employability skills: A case of Malaysia. Asian Development Policy Review, 11(4), 229–243. https://doi.org/10.55493/5008.v11i4.4946

Zhou, A., & Luo, Y. (2025). Exploring the impact of generative AI on student learning in accounting. Journal of Accounting Education, 72, 100982. https://doi.org/10.1016/j.jaccedu.2025.100982




DOI: https://doi.org/10.31004/jele.v11i1.2154

Refbacks

  • There are currently no refbacks.


Copyright (c) 2026 Sri Martina, Djuli Sjafei Purba

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.