Faculty of Economics and Business had been facing many challenges, but we are still able positioned our self as a leading economic and business school in Indonesia. The challenges we will face in the future must be very different with those in the past. In the past, the main challenge was to build a public institution in the midst of society that the institutional system not yet complete.
An advantage that we still can benefit further is that the competition in education environment is still considerably moderate. The challenge in the future is how to improve competitiveness between educational institutions and to shift the paradigm in science related to economic and business.
Faculty of Economics and Business still last as the Center of Excellence that provide quality of human resources for Indonesia on various capacities – as government decision makers, business professionals, intellectual communities and non-educational research institution in Indonesia.
Our vision is to be the leading economic and business school in Southeast Asia and East Asia, and also to be a home and career place for teaching staff and to produce graduates that are competitive both in home country and abroad. To fulfill this vision, the competent teaching staffs and supporting staffs are required.
Nowadays, sciences related to economics and business, i.e., economics, management and accounting, are conceptually changing approaches toward the study of motivations and incentive behind human behavior. Within this new approach, the sciences try to incorporate socio-economic, political and culture that was once ignored. Meanwhile, in term of empirical economics, it has shifted towards policy recommendations based on experiments. Although not changing drastically, this shifts need adjustment to curriculum so that the educational program at FEB UI stay relevant to its society.
Undergraduate program is still the basis for FEB UI to produce productive alumni who make a real contribution to the life of the nation. This fact can also be observed at the university level. Although UI’s long-term vision is as a research university supported by postgraduate programs that produce high-quality studies, until now regular undergraduate programs are still considered a good university base so as to produce quality graduates.
In general, the aim of undergraduate programs for the next four years is to obtain a perfect-fit balance of emphasize between theories and its application in empirical or case studies, with a reduction in the portion of theories and concepts that lead to certain specializations and additional time of core courses for real world analysis (i.e., deep core generalist with limited specialization). Emphasis is placed on analyzing practical problems that require the creation of reports or short papers.
This reflects the paradox of the globalization process, when demand becomes increasingly changing and diverse so that to keep human resources with high adaptability, mastery of basic sciences needs to be deepened, excessive specialization at the initial level will only make obsolescence happen fast.
Talented students who wish to continue to a higher level of education, to become a faculty member or to obtain higher knowledge, they can attend honored programs which will lead to a scientific paper or essay. In this honored program, conceptual or theoretical aspect will be further strengthened. This program will also equip students with a number of advanced courses that will improve survivability if those concerned continue their education to the best universities in the US, Europe, Australia, Japan and others.
The international program is a direct answer to the high demand of the community for international education services. This market segment consists of parents who wish send their children to study abroad. The key to the success of the program is collaboration with prominent universities. The selection of lecturers is very selective where they are not only able to speak English, but also to understand both popular culture and academic culture at partner universities. This needs to get attention because often students who register are cosmopolitan who have had foreign experience either because of joining parents or other causes. The curriculum is emphasized in core courses that enable them not only to survive but to graduate well in foreign countries who are partners.
The graduate program at FEB UI for the master level can be differentiated into professional and academic pathways. Although in practice the differences between the two are often gray in principle, the academic path is more focused on producing key persons in economic and business entities who are reliable and have analytical skills to conduct economic and business research. In the meantime, the profession path is more emphasized on the application of economic and business theories in the world of practice including decision making. The programs included in the profession are Masters in Management (MM), Masters in Accounting and Professionalism (MAKSI-PPAk.), Masters in Planning and Public Policy (MPKP), whereas, those in academic pathways are Masters of Economics (M.E.), Masters of Science programs in Management (M.S.M) and Master of Science program in Accounting (M.S.Ak).
The market situation shows that the professional pathway program is the most desirable program which has very high demand. In accordance with the rules of economics and business, this shows the situation of normal excess profits. It is common for this situation to invite the development of professional pathway programs from other economic faculties from both public and private universities. In terms of location, this competition is not a problem for FEB UI. What needs attention is the presence of classes far from other state universities outside Jakarta. As long as this phenomenon shows the excess demand for professional path education, the position of the FEB UI professional pathway is still not very influential. The advantages of the far-reaching class of other state universities are probably in terms of pricing. We maintain the quality of programs with appropriate curriculum planning, selection of qualified lecturers as well as maintaining discipline in college. FEB UI also organizes reputational building activities such as national and international seminars.
Decentralization opens opportunity to expand the market for magister program, especially Magister of Economic Planning and Development Policy (MPKP). The decentralization in district level, require a qualified economic planners to make a local government policy that consider local competitiveness. For now, FEB UI has not yet opened distance-programs. However, with the advancement of technology, it is made possible for FEB UI to open distance learning programs in the near future, in order to expand market with minimizing physical infrastructures.
According to regulations, master programs in theoretical science place more emphasis on developing the ability to conduct research at the intermediate stage in addition to the emphasis on conceptual or theoretical understanding. In practice, boundaries between the master program in theoretical science and the master programs in applied science have become blurred because the master programs in theoretical sciences are also in demand by professionals and practitioners. Tuition fees for the master programs in academic path are also considerably lower compare to the professional path. In general, this is not become too problematic since the distinction between programs that carry out the task of developing science, as well as professionally oriented programs is more the task of the education program at the doctorate level. At FEB UI officially all doctoral programs are emphasizing on theoretical science.
It must be admitted that until this moment there is no basic research produced by doctoral program. The research is still limited to testing the theories developed by the foreign economist with the data from Indonesia. It is a long journey to reach an ideal research university level where the main curriculum is the research of post-graduate faculty members and/or students, both theoretically and empirically. The challenges are in resources and mathematical abstraction skills. Possibly, only few that have a great interest to fund basic researches. A synergy through the special class, where the lecturer for the core research can present the result of on doctoral program, will help the cross-fertilization process of both parties.
Our main principle is to maintain the competitive advantage of FEB UI as an educational institution in the midst of global competition — from within and outside the country — without forgetting self-actualization through a transparent career path that leads to the welfare of its stakeholders. We strive not to become second-class institutions that only produce second-class mass products, but we will strive to become a qualified and calculated institution at the Asian level. Personally, I believe that until now FEB UI is still the number one faculty of economics and business in the country, as supported by statistics from the REPEC website. But looking at the experiences of many educational institutions and the intense competition, and understanding that, what is called excellence is always dynamic. If it is not well maintained, it can change. Therefore, we always maintain and continuously make improvements.