Universitas Gadjah Mada
Faculty of Economics and Business

Tuesday (09/19), the Faculty of Economics and Business, Universitas Gadjah Mada (FEB UGM) held an Open Senate Meeting 2023 at the 8th-floor Auditorium of the Learning Center Building of FEB UGM. As the culminating event of the 68th Dies Natalis celebration of the Faculty, this meeting aimed to report various activities and achievements within the Faculty. All members of the academic community of FEB UGM attended the meeting, including the Dean's Office, lecturers, educational staff, and student representatives. In addition, the meeting was attended by guests, alums, and representatives of Dharma Wanita.

The meeting began with singing of the Indonesian national anthem (Indonesia Raya) and the Universitas Gadjah Mada Hymn. Then, Prof. Ainun Na'im, M.B.A., Ph.D., the Chair of the Senate of FEB UGM, gave a few words of welcome. Following that, the agenda continued with a report from the Dean of FEB UGM, Prof. Dr. Didi Achjari, M.Com., Ak., CA. Prof. Didi discussed the accreditation tests that FEB UGM will face in 2024: AACSB (Association to Advance Collegiate Schools of Business) and LAMEMBA (Independent Accreditation Agency for Economics, Management, Business, and Accounting). Furthermore, he emphasized the formation of a Faculty Advisory Board consisting of experts and practitioners in the field of economics and business.

On the other hand, Prof. Didi also presented the achievements of FEB UGM. This year, FEB UGM improved the QS World Ranking, ranking 1st nationally and 201-250 globally for Business and Management Studies, 301-350 globally for Economics and Econometrics, and 151-200 globally for Accounting and Finance. He also mentioned some of the 92 achievements 187 FEB UGM students earned throughout 2023. Progress in the Faculty was also discussed, including financial reports, student welfare, information system development, infrastructure and facilities, publication grants, strategic partnerships, societal impact-oriented collaborations with partners, and the human resource conditions of faculty members.

One interesting point is related to the well-being of students and the facilities provided by the Faculty. This aligns with one of the Sustainable Development Goals (SDGs), goal number four, aiming to deliver quality, inclusive, and equitable education for all. FEB UGM has been developing various physical and non-physical infrastructures to support student learning. Furthermore, in the admission of new students in 2023, 15 percent of new students received scholarships such as the Kartu Indonesia Pintar (KIP-Kuliah) and Afirmasi Pendidikan (ADik), 59.67 percent received single tuition fee (UKT) scholarships, 20.28 percent received 100 percent UKT scholarships, and 692 regular undergraduate students received UKT discounts. FEB UGM consistently ensures that everyone can access education at this institution.

Additionally, the report mentioned faculty members who have attained the title of professor, promotions in the ranks of chief lecturers, senior lecturers, assistant professors, doctoral degrees, professional certifications, and teaching certifications. It also mentioned faculty members who have retired or passed away. In conclusion, the report noted that FEB UGM currently has 265 professional staff members with outstanding achievements.

The meeting continued with a keynote speech titled "Agency Theory Perspective in State Financial Management: Welfare Versus Corruption", delivered by Prof. Dr. Abdul Halim, M.B.B., Ak., CA., a professor from the Department of Accounting FEB UGM. Agency theory explains that interest differences between agents and principals (authorities) could lead to conflicts. Information asymmetry means that agents have information not known to principals. This can lead to moral hazard and adverse selection, explaining corruption in state financial management.

The event then proceeded with a speech by Prof. Dr. Ova Emilia, M.Med. Ed., Sp.OG (K), Ph.D., the rector of UGM. Next on the agenda was a congratulatory message from Perry Warjiyo, S.E., M.Sc., Ph.D., who is also the Chairman of the Central Family Alumni Board of FEB UGM (PP KAFEGAMA). As the event neared its end, the session continued with a prayer. Subsequently, a ceremonial "tumpeng" (rice cone) cutting and the group photo officially ended the meeting.

Reportage: Rizal Farizi 
See more events: Agenda Dies Natalis FEB UGM
Watch the full video at https://www.youtube.com/live/TGgrHUsNjQY