Yogyakarta, November 5, 2025 – The UGM Agricultural Economics and Agribusiness Study Program held a guest lecture for the Regional Economics course. The lecture carried the theme “Structural Changes in the Irish Economy 1926-2020: An Input-Output Analysis” with Prof. Cathal O’Donoghue, Professor of Public and Social Policy, University of Galway, Ireland, as the guest speaker.
In this guest lecture, Prof. Cathal began by introducing the basic concepts of value chains and input-output analysis. The value chain begins with the provision of raw materials, production, distribution, and sales services, to generate added value for consumers. In today’s economy, the value chain involves interactions between various sectors, giving rise to input-output relationships. Prof. Cathal explained the input-output (IO) model, which shows the multiplier effect when demand for inputs in a sector increases and involves inter-regional interactions.