History
The Faculty of Economics and Business, Universitas Gadjah Mada (FEB UGM), has a distinguished history marked by remarkable achievements, innovation, and contributions to education, business, and public policy. From its early establishment to its recognition as a leading faculty at both the national and international levels, every stage of FEB UGM’s development reflects a steadfast commitment to creating a positive impact on society.
This historical timeline highlights key milestones, institutional transformations, and strategic achievements that have shaped FEB UGM’s journey toward realizing its vision of becoming a world-class institution in economics and business education.
1955
September 19, 1955
The Faculty of Economics (FE) of Universitas Gadjah Mada was established as part of the reorganization of the Faculty of Law, Economics, Social and Political Sciences (HESP). During its early and distinguished years, all academic activities and lectures were conducted within the historic grounds of the Yogyakarta Palace.
1958
This year marked a new chapter for Universitas Gadjah Mada, including the Faculty of Economics, with its relocation from the Yogyakarta Palace to the Bulaksumur Campus. Academic activities were held in the Balairung of UGM’s Central Administration Building, marking a new era of academic autonomy and innovation for the higher education community.
1980
September 29, 1980
The establishment of the Master of Science Program marked an important milestone in graduate education, featuring three key areas of specialization: Science in Accounting, Science in Economics and Development Studies, and Science in Management.
1988
July 2, 1988
The Master in Management (Master of Business Administration – MBA) Program was established. Since its inception, the program has been dedicated to developing business leaders with integrity and the capability to compete in the global marketplace.
1988
September 19, 1988
The Faculty of Economics at Universitas Gadjah Mada embarked on a new chapter with its move to the building now situated on Jalan Sosio Humaniora. Since then, the building has been more than a center for learning; it has served as a symbol of decades of commitment to nurturing future leaders and thinkers in economics and business, while generating a positive impact on society.
1995
June 3, 1995
The Master in Development Economics (MEP) Program was officially established, marking the Faculty’s commitment to preparing future leaders in development from diverse regions throughout Indonesia.
1996
September 23, 1996
The Faculty of Economics at Universitas Gadjah Mada launched doctoral programs in three disciplines. Since their establishment, these programs have produced distinguished academics, researchers, and scholars whose contributions have had a lasting impact on society, national development, and the advancement of knowledge.
2001
April 23, 2001
The Master in Management (Matre of Business Administration – MBA) Program was launched at the Jakarta Campus, located in Gondangdia, Menteng, Central Jakarta. The establishment of the program further broadened the Faculty’s presence and enhanced its impact on management education and professional development.
2002
June 24, 2002
The Master in Accounting Program was established with a commitment to cultivating future leaders in accounting through five specialized concentrations. Through its comprehensive and industry-relevant offerings, the program has emerged as one of the leading graduate accounting programs in meeting the needs of the profession and society.
2003
July 2, 2003
The Faculty of Economics at Universitas Gadjah Mada broadened its professional ecosystem by establishing MM UGM Hotel. As a strategic hospitality and convention facility, it was designed to support academic activities and provide a premier venue for conferences, seminars, and other events across the university community.
2003
July 9, 2003
The Accounting Professional Education Program (PPAk) was established to prepare highly qualified accountants who combine professional competence with the highest standards of ethics and integrity. Since its inception, the program has been dedicated to fostering the fundamental values at the heart of the accounting profession.
2005
The Faculty of Economics at Universitas Gadjah Mada (FEB UGM) introduced the International Undergraduate Program (IUP) in Accounting, Economics, and Management. This milestone reflected the Faculty’s strategic commitment to internationalization and to advancing globally recognized educational standards.
2007
August 27, 2007
The Faculty of Economics at Universitas Gadjah Mada was renamed the Faculty of Economics and Business (FEB UGM) as part of a strategic initiative to advance its internationalization vision. This transformation also reflected the Faculty’s academic evolution by formally recognizing its three well-established departments, Accounting, Management, and Economics, as fundamental pillars of contemporary business education.
2010
August 1, 2010
Universitas Gadjah Mada officially inaugurated the UGM Jakarta Campus at UGM Samator Pendidikan, Jl. Dr. Saharjo No. 83, Tebet, South Jakarta. The inauguration represented a significant milestone in advancing UGM’s commitment to graduate education and professional engagement in Indonesia’s capital city. At the same time, the Master of Management Program was relocated and commenced operations at the new campus.
2011
December 20, 2011
The inauguration of Pertamina Tower marked a significant milestone, providing a state-of-the-art facility to support academic and research activities for students and faculty members.
2014
May 12, 2014
Earn accreditation from the Association to Advance Collegiate Schools of Business (AACSB) International, making it the first business school in Indonesia to earn this prestigious accreditation.
2018
August 4, 2018
The inauguration of the Learning Center Building marked the establishment of a dedicated hub for learning, collaboration, and academic development.
2019
April 4, 2019
Successfully earned its first AACSB reaccreditation, reaffirming its commitment to maintaining the highest standards of excellence in business education.
2024
July 3, 2024
Successfully achieved its second AACSB reaccreditation, encompassing all 13 undergraduate and graduate programs offered by the Departments of Accounting, Economics, and Management, further demonstrating its sustained commitment to institutional excellence and continuous quality improvement.
2025
All academic programs at the Faculty of Economics and Business, Universitas Gadjah Mada (FEB UGM), were awarded the highest accreditation rating, “Excellent” (Unggul), by the Independent Accreditation Agency for Economics, Management, Business, and Accounting (LAMEMBA), reaffirming the Faculty’s commitment to academic excellence and quality assurance.
2025
The Faculty of Economics and Business at Universitas Gadjah Mada introduced the International Doctorate in Business (IDB), an innovative doctoral program tailored for senior executives and business leaders with substantial professional experience. Designed to connect academic scholarship with practical business challenges, the program fosters interdisciplinary research that generates meaningful impact. The inaugural cohort officially began on February 11, 2026, marking a significant milestone in advancing leadership and business transformation through doctoral education.