Fourteen study programs under the three departments of Universitas Gadjah Mada’s Faculty of Economics and Business (FEB UGM), comprising three undergraduate programs, seven master’s programs, three doctoral programs, and one professional program, have officially received national ‘Excellent’ accreditation status.
This milestone follows the recent accreditation of the Master of Science in Economics program, which was officially awarded ‘Excellent’ status by the Independent Accreditation Institute for Economics, Management, Business, and Accounting (LAMEMBA).
“This ‘Excellent’ accreditation is certainly great news for FEB. We are grateful that the Master of Science in Economics program has finally received the highest rating from the national accrediting body, LAMEMBA,” said Dr. Bayu Sutikno, Vice Dean for Academic and Student Affairs at FEB UGM, on Thursday (May 8, 2025).
According to Dr. Sutikno, this achievement completes a series of accomplishments by FEB UGM. Since 2014, the Association to Advance Collegiate Schools of Business (AACSB) has internationally accredited all faculty programs, and this year marks the third AACSB accreditation cycle.
“Now, it’s complete; 100 percent of the fourteen programs at FEB UGM, from undergraduate to professional, master’s, and doctoral levels, have received ‘Excellent’ accreditation from LAMEMBA for the next five years,” he explained.
Dr. Sutikno emphasized that these accomplishments result from the strong foundation of quality and professionalism established by the faculty’s founders and predecessors. He expressed hope that future generations of faculty leadership and academic communities will sustain and further these achievements.
“These results would not have been possible without the support of our lecturers, students, alumni, professional staff, and industry partners,” he added.
He also stressed that accreditation should not be viewed as an endpoint but rather as a driving force for continuous improvement. The FEB UGM academic community, he said, must not become complacent but continue to embrace ginong prati dino, the Javanese principle of continuous daily progress, to deliver the best education in economics and business.
Professor Indra Wijaya Kusuma, Head of UGM’s Quality Assurance and Reputation Unit (SPMRU UGM), also conveyed his appreciation.
He praised FEB UGM’s strong commitment to maintaining both the quality and outcomes of its academic programs. Professor Kusuma noted that FEB UGM was the first and remains the only economics faculty in Indonesia to have earned AACSB accreditation since 2014.
“We all know AACSB is the world’s most prestigious business school accrediting body. It took tremendous effort to earn that recognition, and FEB UGM is now entering its third AACSB reaccreditation cycle,” he said.
Although already internationally accredited by AACSB, FEB UGM has also pursued national accreditation through LAMEMBA. Professor Kusuma expressed pride in this dual approach and congratulated the faculty for securing the highest national rating across all 14 of its programs.
He explained that ‘Excellent’ is the highest rating awarded in the national accreditation system. With both international and national recognitions, FEB UGM is now positioned among the world’s top business schools.
“Hopefully, FEB UGM won’t become complacent with this achievement. It’s essential to continue monitoring and conducting internal assessments to maintain this excellent standard. Congratulations once again to the deans, departments, program leaders, faculty, staff, and all students for this accomplishment,” he added.
Dr. Aprilia Beta Suandi, Head of the Quality Assurance and Accreditation Unit (UPMA), emphasized FEB UGM’s ongoing commitment to enhancing the quality and outcomes of its education.
She noted that the faculty must ensure its academic processes align with national and international standards.
FEB UGM is expected to uphold the National Higher Education Standards, UGM’s internal benchmarks, and the AACSB Business Accreditation Standards to maintain educational excellence. This process, she added, must involve faculty leadership, department and program heads, and lecturers.
“Equally important are monitoring, evaluation, and audit processes. Feedback from external assessors during accreditation must serve as a valuable foundation for continuous quality improvement at FEB UGM,” Dr. Suandi concluded.
Reporters: FEB UGM/Kurnia Ekaptiningrum and Shofi Hawa Anjani
Author: Agung Nugroho
Post-editor: Lintang Andwyna
Photographer: Donnie