Universitas Gadjah Mada
Faculty of Economics and Business

The Faculty of Economics and Business of Universitas Gadjah Mada (FEB UGM) held a culminating event to commemorate its 69th Anniversary, which included an Open Senate Meeting, the presentation of the Senate Report, the Dean's Annual Report, and a Scientific Address. The culmination of the anniversary celebration took place on Thursday, September 19, 2024, on the 8th floor of the FEB UGM Learning Building, in the presence of UGM Rector Prof. Dr. Ova Emilia, M.Med.Ed, Sp.OG., Ph.D., along with the Deans of the various Faculties and Schools, members of the FEB Faculty Senate, faculty, professional staff, and students.

FEB UGM Dean, Prof. Dr. Didi Achjari, M.Com., Ak., CA., emphasized that this year's Dies Natalis serves as a reminder of FEB UGM's mission: "We Nurture Future-Ready Leaders in Economics and Business to Foster Sustainability." This mission is reflected in the theme of the 69th Dies Natalis, "Embracing Inclusivity and Diversity in Economics and Business Education," which underscores FEB UGM's commitment to creating an educational environment that is open to all, including those with disabilities, to ensure equal access to economics and business education.

In line with UGM's motto, "Rooted Strong and Soaring High," FEB UGM continues to expand opportunities for the nation's brightest children from all regions of Indonesia, regardless of their background or physical and economic conditions. FEB UGM also upholds the values of objectivity and fairness, respecting every member of the academic community without discrimination based on race, ethnicity, gender, or religion," he explained on Thursday (September 19).

Didi reported that FEB UGM maintains a rigorous selection process to ensure the quality of its admitted students. For the 2024/2025 academic year, FEB UGM admitted 608 new students, including 161 international students (IUP) and 447 regular students. Admission selectivity is exceptionally high, with an acceptance rate of 4% for the Accounting Bachelor's program, 5% for the Economics Bachelor's program, and 3% for the Management Bachelor's program.

"The master's and doctoral programs also admit students each semester while maintaining the quality of the students accepted," he added.

While continuing to maintain a rigorous selection process, FEB UGM is firmly committed to increasing inclusivity by supporting greater access to education for all members of society through various scholarship programs offered by FEB UGM, including tuition fee reductions and various scholarship support from the government, foundations, corporations, and alums.

Didi explained that 438 active undergraduate students at FEB UGM are scholarship recipients, of which 235 are Kartu Indonesia Pintar Kuliah (KIP-K) scholarship recipients. In addition, 50.12% of new regular undergraduate students are Uang Kuliah Tunggal (UKT) scholarship recipients, with discounts ranging from 25% to 100%. Of this group, 13.32% receive the 100% subsidized Excellent Education UKT Scholarship or UKT 0.

"This aid has been granted to 241 students with a total value of IDR 606.250 million," he explained.

Apart from these programs, students have also received various scholarships from Bank Indonesia (both regular and outstanding programs), KAFEGAMA 1982, KAFEGAMA 1989, and programs from Bakti BCA, BNI Early Recruitment Program, and Mitsubishi UFJ.

Didi mentioned that FEB UGM is committed to achieving the best results locally, nationally, and internationally. On the global front, FEB UGM successfully maintained its accreditation from the Association to Advance Collegiate Schools of Business (AACSB) in 2024. Initial certification was achieved in 2014, followed by reaccreditation in 2019. The 2024 reaccreditation covers all 13 undergraduate, master's, and doctoral programs in the Department of Accounting, Economics, and Management.

In addition to the international recognition from AACSB, FEB UGM has also achieved the highest national accreditation, receiving the "Excellent" rating from the Independent Accreditation Agency for Economics, Management, Business and Accounting (LAMEMBA) for 12 programs. Meanwhile, two other programs, the Master's Program in Economics and the Doctoral Program in Economics, are still "A" accredited by BAN PT and will be reaccredited by LAMEMBA in 2025.

Regarding global reputation, Didi noted that FEB UGM has maintained a solid position in the QS World University Rankings (WUR) 2024. For Accounting and Finance, FEB UGM remains in the 151-200 range worldwide; for Business and Management Studies, it is ranked 201-250; and encouragingly, for Economics and Econometrics, FEB UGM has improved to the 201-250 range, from 301-350 previously.

During the event, Didi also presented various achievements of FEB UGM, including developing students' soft skills, academic innovations, partnerships, human resources, research, publications, and infrastructure and facilities.

Following the Dean's report, a speech titled "A Brief Anthology of UGM Economists' Thoughts on Agricultural Development in Indonesia" was delivered by Prof. Dr. Catur Sugiyanto, M.A. In his remarks, Catur discussed agricultural development in Indonesia in detail, from how farmers responded to the Green Revolution policy changes in the early 1960s to analyzing farmers' behavior after rice self-sufficiency in 1984. The speech concluded with a summary of agriculture-based development strategies.

Reportage: Kurnia Ekaptiningrum

Sustainable Development Goals