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This research aims to analyze the influence of exchange rate, exports, and  imports on Indonesia's foreign exchange reserves in the period of 1992-2021. The dependent variable is foreign exchange reserves, whereas the independent variables consist of exchange rate, exports, and imports. The research uses secondary data in time series obtained from Indonesia’s World Bank Data. Data are analyzed with VAR (Vector Auto Regression), those analyzed use E-Views 10 apss by including analysis method, which includes stationary tests, stability tests, optimum lag tests, cointegration tests, VAR estimation tests, Engle Granger causality tests, Impulse Response Function (IRF) tests, and Variance Decomposition (VD) tests. The results of the study show that exchange rate variables have a large influence on foreign exchange reserves, while export and import variables have a small effect on foreign exchange reserves.

Consumer behavior is the study of how individuals, groups, and organizations select, purchase, use, and use goods, services, ideas, or experiences to satisfy their needs and wants. In Islamic economics, the goal of consumption is to maximize maslahah. Maslahah includes the integration of physical benefits and elements of blessing. In consumption, Islam positions it as part of economic activity that aims to collect rewards towards falah (happiness in the world and the hereafter). The motive for consumption in Islam is basically maslahah (public interest or general human good) for needs and obligations. In Islam, consumption cannot be separated from the role of faith. The role of faith is an important benchmark because faith provides a perspective that tends to influence human behavior and personality. Therefore, consumption is important because it fulfills the needs of human life. Without consumption, humans will not survive. What's more, consumption during the COVID-19 pandemic is in violation of the rules and other consumer rights.

This study aims to determine the integration level of Southeast Asian stock market with the world stock market using an international capital asset pricing model. The countries that were sampled in this study were Indonesia, Malaysia, Philippines, Singapore and Thailand. The sample period starts from January 2000 until August 2016. This study uses an partially-segmented international capital asset pricing model by including the assumption of residual that were correlated between asset pricing equations. Because of this assumption, the seemingly unrelated regression (SUR) estimation method is more appropriately compared to the ordinary least square (OLS) method. The results of this study indicate that the integration level of Southeast Asian stock market varies. The Singapore and Thailand stock markets are fully integrated with the world stock market, the Indonesian and Malaysian stock markets are partially integrated with the world stock market, while the Philippine stock market is segmented with the world stock market. This finding shows the difference in the effectiveness of the stock market liberalization process in Southeast Asia