1 Research Proposal

1.1 Title of Research

A Study on Economic Challenges Faced by Students: An Implementation in University of

Malaya.

1.2 Nature and Background of the Research

This research was carried out by Madihah binti Hilmy Mujahid, Luqman Hafizi bin Mohd

Zawawi and Ahmad Aiman bin Ahmad in March and April 2016 to study economic challenges faced by

students in the University of Malaya. The research covers economic challenges and financial management

among students.

Financial problems are not a new problem faced by almost every student particularly for those

who are in undergraduate studies. Money worries are part and parcel of university life. Unlike other

student success area such as motivation, faith and time management, students have a little control over

their financial aid and support. Financial concerns often shift once a student enters university. The initial

fear of paying for university is over since they got a loans. Now, the student experiences the freedom of

university life and the desire to maintain or gain a certain lifestyle. On the surface, it may appear that

college students living on campus should have little or no expenses. However, many students struggle to

pay for the wants of college life. Recent events in world of finance, not to mention about the rising foods

and beverages prices in almost all places in Malaysia and University of Malaya specifically. Financial

responsibility is one of the many skills students need if they are to be successful in university and life.

Students may not openly admit to financial concerns. Sometimes students do not realize that the decisions

they make have an impact on their academics. Like time management and career decisions, making good

financial decisions in university will help students make the transition into the working world. Bad

financial decisions in university can impact a students life for many years afterward.
1.3 Research Objectives

The aims of the work undertaken and reported here were to:

To study how the students allocate their budget in managing their financial matters.
To examine the economic challenges the students faced.
To investigate the relationship between the total amount of allowance the

students receive and the amount spent for each period.

To give out suggestions for the students to keep up with the challenges.

1.4 Significance of Research

The research study could provide information on the issues of economic and financial particularly

on the challenges and problems that are faced by students. Further, this study would also be a review on

the financial management during their university life particularly in University of Malaya. This study

hopefully would be beneficial to the other students in the university as this study enhance the knowledge

of about the issues of financial management among students and also solution and suggestion for the

students to keep up with the challenges. Furthermore, this study would be beneficial to the official

university management as this study would provide the necessary information on the different aspect

about financial management and economic challenges that are faced by students. This would expectedly

heighten the awareness of the university management and the society to equip a fresh solution for the

upcoming challenges. To the future researchers, this study can provide baseline information on the recent

status about economic and financial problems.