History of the faculty establishment

The Faculty of Economics and Business (FEB) Universitas Gadjah Mada (UGM) in Yogyakarta was established on September 19, 1955 by Decree of the Minister of Education and Culture No. 53759/Kab. Initially, economics education and teaching at Universitas Gadjah Mada was carried out by the Department of Economics, which was coordinated by the Legal Department, Faculty of Law, Economics, Social and Politics (faculty of HESP ). Starting from the 1952/1953 academic year, with the Decree of the Minister of Education and Culture No. 29512/Kab., the status of "Department" for teaching economics has been upgraded to "Section" at the Faculty of Law, Economics, Social and Politics (Faculty of HESP). In further developments, starting from the 1955/1956 academic year, the faculty of HESP was divided into 3 faculties, namely the Faculty of Law, Faculty of Economics, and Faculty of Social Politics, all of which occupied the Yogyakarta Palace Hall. After several years of occupying the Palace Hall, starting in 1958, the Faculty of Economics UGM moved to Bulaksumur and occupied part of the Universitas Gadjah Mada Central Administrative Building. In January 1989, the Faculty of Economics moved again and began to occupy a new building on Humanities street which continues to be used today.

The change in the name of the Faculty of Economics UGM to the Faculty of Economics and Business UGM is to fulfill the goal of going international. The faculty considers it necessary to use terms that apply internationally which make it easier for FEB to adapt in the international community, without any confusion between the name of the faculty and the study programs or departments under the faculty. This name change was stated in the Decree of the Rector of Universitas Gadjah Mada number 262/P/SK/HT/2007, dated 27 August 2007.

Along with this, the Faculty of Economics and Business UGM continues to strive to improve the quality standards of teaching, research and community service by becoming a member of a world-class business school. On March 10, 2006, the Faculty of Economics and Business UGM was registered as a member of the AACSB International - The Association to Advance Collegiate Schools of Business (AACSB). Until May 12 2014, the Faculty of Economics and Business UGM succeeded in obtaining AACSB International accreditation and became the first business school in Indonesia to be accredited.

Until now, FEB UGM organizes higher education in economics and business in 14 study programs under the auspices of 3 departments, including: (1) Bachelor in Accounting Study Program, Accountant Professional Program, Master in Accounting, Master of Science in Accounting, and Doctor in Accounting Science under the auspices of the Department Accountancy; (2) Bachelor in Economics Study Program, Masters in Development Economics, Masters of Science in Economics, and Doctor in Economics Science under the auspices of the Department of Economics; and (3) Bachelor in Management Study Programs, Masters in Management (MBA), Masters in Management (Jakarta Campus), Masters of Science in Management, and Doctor in Management Sciences under the auspices of the Department of Management.