Economics is a social science that study how people choose to use resources and how the economy works. Economics includes the study of labour, land, and investments, of money, income, and production, and of taxes and government expenditures. Therefore the aim of economics is to gain better understanding about incentives and how it can be used to improve welfare.
The origin of the Department of Economics can be traced since 1952 when it was still a division under the Faculty of Law, Economics, Social and Politics. In 1983 the Department of Economics and Development Studies was established and then changed to the Department of Economics in 2005.
Before 1983, economic studies were considered as “concentration” or “major” under the Faculty of Economics, Universitas Gadjah Mada. However, in 1983 the Department of Economics and Development Studies was formally established and then later changed to the Department of Economics in 2005 (Appendix 1.C.3: SK Rektor UGM nomor 15/P/SK/HT/2005). The program is renamed, to adapt to the dynamics of the science. This transformation is expected to lead to better quality teaching and research. The UPE, is a program under the management of the Department of Economics, and is one of the leading programs in the FEB UGM along with Management and Accounting.
As an innovative and dynamic program, the Department of Economics FEB UGM launches its vision, "Being a respected undergraduate economics program in Indonesia as well as in South-East Asia for promoting teaching and knowledge, particularly in the field of economics."
The vision is followed by the synergistic mission, "to develop leaders with advanced knowledge and strong integrity so as to promote the betterment of society through providing qualified education, research and community services related to economics."
Today, Department of Economics hosts five study program from various degrees:
- Bachelor (Undergraduate) in Economics, Regular Program
- Bachelor (Undergraduate) in Economics, International Undergraduate Program
- Master of Development Economics
- Master of Science in Economics
- Doctoral (PhD) in Economics
The quality of the program is reflected by the availability of qualified lecturers and staff (see: http://economics.feb.ugm.ac.id/people/academic-staff.html). Lecturers are qualified by their backgrounds of having studied at some of the top universities around the world. Most have completed doctoral degrees in the linear scientific field. Meanwhile, staffs that serve the program have the appropriate educational qualifications coupled with the skills, experience and a good work ethic.
The research work done by our lecturers and professors is exceptionally leading. Numerous researches and studies have been published in international journals or used as a reference in formulating economic policy by government and private institutions. Research or study documents can be accessed from a variety of agencies that have the authority to publish.