Accreditation Results 2018

I. ABEST21 Accreditation System

1. Purpose of the ABEST21 Accreditation

The mission of a business school is to nurture world-class management professionals who can compete in the age of advanced technology, social, economic, and cultural globalization, and accelerated communication. To achieve the mission, it is indispensable to develop an education system at an internationally recognized level, accompanied by educational quality assurance. Therefore, quality assurance by a third party has been requested for ensuring not only the educational quality that the school is expected to provide, but also educational quality enhancement to the stakeholders of the school.
In order to respond to these needs, ABEST21 was founded on July 1, 2005, as an accreditation institution aiming to assure not only the educational quality but also educational quality enhancement expected from the school. ABEST21 is involved in not only the quality assurance of education but in building the education system which will be the base for enhancement of education quality in response to the change of environment.
In the age of globalization, business schools are responsible for nurturing capable management professionals who can contribute to world peace and prosperity, and the quality of business education is indispensable for achieving this aim. ABEST21 as an accreditation institution has to support business schools in realizing their mission by assessing the quality of their educational and research activities in a fair and objective manner. And we have to recognize our role for supporting the establishment of education system which provides enhancement of educational quality through promotion of PDCA cycle operation toward the future.
Thus ABEST21 Quality Assurance System aims to assess the system of management education quality enhancement in response to the changes of educational and research environment, in addition to education quality assurance.
On Tuesday, March 5, 2018, ABEST21 held the Accreditation Committee and the Peer Review Committee at Shinagawa Season Terrace Conference and accredited 8 schools as follows:

A: Professional Graduate School of Business in Japan

“Management”

• Department of Business Administration, SBI Graduate School, Japan

B: Management Accreditation in Asia

1. Program-based Accreditation System

“Master Program in Management”

• Faculty of Economics, Universitas Andalas, Indonesia
• Faculty of Economics and Business, Universitas Indonesia, Indonesia
• Faculty of Economics and Business, Universitas Kristen Satya Wacana, Indonesia
• Faculty of Business and Economics, Universitas Surabaya, Indonesia

“Master Program in Applied Economics”

• Faculty of Economics and Business, Universitas Padjadjaran, Indonesia

“Master Program in Accounting”

• Faculty of Economics and Business, Universitas Padjadjaran, Indonesia

2. Academic unit-based Accreditation System

• School of Business and Management, Institut Teknologi Bandung, Indonesia

2. The ABEST21 Peer Review System

The ABEST21 Peer Review System consists of three components.

1) Accreditation Committee

Chair

• Sudarso Kaderi Wiryono
  Dean, School of Business and Management, Institut Teknologi Bandung, Indonesia

Vice Chair

• Yasunaga Wakabayashi
  Dean, Graduate School of Management, Kyoto University, Japan
• Mohd Ridzuan Darun
  Dean, Faculty of Industrial Management, Universiti Malaysia Pahang, Malaysia
• Takeshi Hibiya
  Advisor, Fuji Xerox Co., Ltd., Japan

Members

• Candra Fajri Ananda
  Professor, Faculty of Economics and Business, Universitas Brawijaya, Indonesia
• Mutsuhiro Arinobu
  Executive Director, RIKEN, Japan
• Ilker Baybars
  Dean and CEO Emeritus, Carnegie Mellon University-Qatar
  Deputy Dean Emeritus, Tepper School of Business, Carnegie Mellon University, USA
• Ming Yu Cheng
  Professor, Faculty of Accountancy & Management, Universiti Tunku Abdul Rahman, Malaysia
• AAhad Osman Gani
  Dean, Graduate School of Management, International Islamic University Malaysia, Malaysia
• Jun Kanai
  Former President, Toshiba Human Resources Development Corporation, Japan
• Mika Kumahira
  President, Atech Kumahira Co., Ltd., Japan
• Katsufumi Mizuno
  Patent Attorney and President, Hikari Patent Office, Japan
• Hisatsugu Kitajima
  General Manager, Corporate Human Resources Division
  Sony Corporate Services (Japan) Corporation, Japan
• Tadashi Okamura
  Honorary Advisor, Toshiba Corporation, Japan
• Robert S. Sullivan
  Dean, Rady School of Management, University of California San Diego, USA
• Oleg Vikhanskiy
  Dean, Lomonosov Moscow State University Business School, Lomonosov Moscow State University, Russia

2) Peer Review Committee

Chair

• Mohd Ridzuan Darun
  Dean, Faculty of Industrial Management, Universiti Malaysia Pahang, Malaysia

Vice Chair

• Qinhai Ma
  Dean, School of Business Administration, Northeastern University, China
• Ari Kuncoro
  Dean, Faculty of Economics and Business, Universitas Indonesia, Indonesia
• Yasunaga Wakabayashi
  Dean, Graduate School of Management, Kyoto University, Japan
• Azlan Amran
  Dean, Graduate School of Business, Universiti Sains Malaysia, Malaysia

Members

• Ir. Noer Azam Achsani
  Dean, School of Business, Institut Pertanian Bogor, Indonesia
• Shigeru Asaba
  Dean, Graduate School of Business and Finance, Waseda University, Japan
• Siriwut Buranapin
  Dean, Faculty of Business Administration, Chiang Mai University, Thailand
• Yudi Azis
  Dean, Faculty of Economics and Business, Universitas Padjadjaran, Indonesia
• Hiroshi Fujiwara
  Dean, Department of Business Administration, SBI Graduate School, Japan
• AAhad Osman Gani
  Dean, Graduate School of Management, International Islamic University Malaysia, Malaysia
• Kazuo Ichijo
  Dean, Graduate School of International Corporate Strategy, Hitotsubashi University, Japan
• Chiaki Iwai
  Dean, Graduate School of International Management, Aoyama Gakuin University, Japan
• Abdul Rahman Kadir
  Dean, Faculty of Economics and Business, Universitas Hasanuddin, Indonesia
• Ali Khatibi
  Dean, Graduate School of Management, Management & Science University, Malaysia
• Nurkholis
  Dean, Faculty of Economics and Business, Universitas Brawijaya, Indonesia
• Nor’Azam Mastuki
  Dean, Arshad Ayub Graduate Business School, Universiti Teknologi MARA, Malaysia
• Vichayanan Rattanawiboonsom
  Dean, Faculty of Business, Economics and Communications, Naresuan University, Thailand
• Arumugam Seetharaman
  Dean for Academic Affairs, S P Jain School of Global Management, Singapore
• Zeljko Sevic
  Dean, Othman Yeop Abdullah Graduate School of Business, Universiti Utara Malaysia, Malaysia
• Suharnomo
  Dean, Faculty of Economics and Business, Universitas Diponegoro, Indonesia
• Eko Suwardi
  Dean, Faculty of Economics and Business, Universitas Gadjah Mada, Indonesia
• Sudarso Kaderi Wiryono
  Dean, School of Business and Management, Institut Teknologi Bandung, Indonesia
• Hua Xu
  Program Chair, MBA Program in International Business, Graduate School of Business
  Sciences, University of Tsukuba, Japan
• Zulkornain bin Yusop
  CEO & President, Putra Business School, Malaysia
• Mohd Zaher Mohd Zain
  Dean, Graduate School of Business, Universiti Kebangsaan, Malaysia

3) Peer Review Team

• Dr. Agus Fredy Maradona
  Master of Management, Universitas Pendidikan Nasional, Indonesia
• Prof. Dr. Ali Khatibi
  Graduate School of Management, Management & Science University, Malaysia
• Dr. Anis Chariri
  Faculty of Economics and Business, Universitas Diponegoro, Indonesia
• Principal Director Arfah Salleh, Ph.D.
  Human Governance Institute INC., Malaysia
• Dean Prof. Dr. Arumugam Seetharaman
  S P Jain School of Global Management, Singapore
• Dean Dr. Azlan Arman
  Graduate School of Business, Universiti Sains Malaysia, Malaysia
• Prof. Dr. Badri Munir Sukoco
  Faculty of Economics and Business, Universitas Airlangga, Indonesia
• Dr. Bernardinus Maria Purwanto
  Faculty of Economics and Business, Universitas Gadjah Mada, Indonesia
• Dr. Budiono
  Faculty of Economics and Business, Universias Padjadjaran, Indonesia
• Dr. Bukhshtaber Natalia
  Lomonosov Moscow State University Business School, Lomonosov Moscow State University, Russia
• Prof. Dr. Candra Fajri Ananda
  Faculty of Economics and Business, Universitas Brawijaya, Indonesia
• Prof. Dr. Christantius Dwiatmadja
  Faculty of Economics and Business, Universitas Kristen Satya Wacana, Indonesia
• Dr. Danaipong Chetchotsak
  College of Graduate Study in Management, Khon Kaen University, Thailand
• Dr. David Methé
  Institute of Business and Accounting, Kwansei Gakuin University, Japan
• Prof. Dr. David Paul Elia Saerang
  Faculty of Economics and Business, Universitas Sam Ratulangi, Indonesia
• Dr. Devika Nadarajah
  Putra Business School, Universiti Putra Malaysia, Malaysia
• Dr. Dodi Wirawan Irawanto
  Faculty of Economics and Business, Universitas Brawijaya, Indonesia
• Dean Dodie Tricahyono, Ph.D.
  School of Economics and Business, Universitas Telkom, Indonesia
• Prof. Dr. Eko Ganis Sukoharsono
  Faculty of Economics and Business, Universitas Brawijaya, Indonesia
• Dr. Fathyah Hashim
  Graduate School of Business, Universiti Sains Malaysia, Malaysia
• Prof. Dr. Gagaring Pagalung
  Faculty of Economics and Business, Universitas Hasanuddin, Indonesia
• Dr. Gunalan Nadarajah
  Othman Yeop Abdullah Graduate School of Business, Universiti Utara Malaysia, Malaysia
• Dr. Harryadin Mahardika
  Faculty of Economics and Business, Universitas Indonesia
• Dr. Harryanto bin Nyoto
  Faculty of Economics and Business, Universitas Hasanuddin, Indonesia
• Dr. Hen Kai Wah
  Faculty of Accountancy and Management, Universiti Tunk Abdul Rahman, Malaysia
• Prof. Hideki Ishikawa
  Department of Business Administration, SBI Graduate School, Japan
• Prof. Dr. Hirotaka Kawano
  Graduate School of Management, Kyoto University, Japan
• Prof. Hiroshi Takamori, Ph.D.
  School of Accounting, LEC Graduate University, Japan
• Prof. Dr. Huang Lin
  Graduate School of Business Administration, Kobe University, Japan
• Prof. Dr. Ibrahim Kamal Abdul Rahman
  Universiti Kuala Lumpur Business School, Universiti Kuala Lumpur, Malaysia
• Dr. Ida Binti MD Yasin
  Purta Business School, Universiti Putra Malaysia, Malaysia
• Dr. Idqan Fahmi
  School of Business, Institut Pertanian Bogor, Indonesia
• Dr. Irwan Trinugroho
  Faculty of Economics and Business, Universitas Sebelas Maret, Indonesia
• Dr. Irina Petrovskaya
  Lomonosov Moscow State University Business School, Lomonosov Moscow State University, Russia
• Dr. Jaafar Pyeman
  Arshad Ayub Graduate Business School, Universiti Teknologi MARA, Malaysia
• Prof. Hirotaka Kawano
  Graduate School of Management, Kyoto University, Japan
• Dr. Prof. Lizar Alfansi
  Faculty of Economics and Business, Universitas Bengkulu, Indonesia
• Dr. Masyhuri Hamidi
  Faculty of Economics, Universitas Andalas, Indonesia
• Prof. Dr. Ming Yu Cheng
  Faculty of Accountancy and Management, Universiti Tunku Abdul Rahman, Malaysia
• Dean Dr. Mohd Ridzuan Darun
  Faculty of Industrial Management, Universiti Malaysia Pahang, Malaysia
• Dr. Mohd Zaher Mohd Zain
  Graduate School of Business, Universiti Kebangsaan Malaysia, Malaysia
• Dr. Nisful Laila
  Faculty of Economics and Business, Universitas Airlangga, Indonesia
• Dr. Noorihsan Bin Mohamad
  Faculty of Economics and Management Sciences, International Islamic University Malaysia, Malaysia
• Dean Dr. Norazam Bin Mastuki
  Arshad Ayub Graduate Business School, Universiti Teknologi MARA, Malaysia
• Dr. Noryati Ahmad
  Arshad Ayub Graduate Business School, Universiti Teknologi MARA, Malaysia
• Dr. Pichayalak Pichayakul
  Faculty of Business Administration, Chiang Mai University, Thailand
• Dr. Popy Rufaidah
  Faculty of Economics and Business, Universitas Padjadjaran, Indonesia
• Dr. Putu Anom Mahadwartha
  Faculty of Business and Economics, Universitas Surabaya, Indonesia
• Dean Prof. Dr. Qinahi Ma
  School of Business Administration, Northeastern University, China
• Dr. Rapeeporn Srijumpa
  Graduate School of Commerce, Burapha University, Thailand
• Dr. Remy Magnier Watanabe
  MBA Program in International Business, Graduate School of Business Sciences,
  University of Tsukuba. Japan
• Prof. Emeritus Dr. Richard Taggart Murphy
  University of Tsukuba. Japan
• Dr. Reza Nasution
  School of Business and Management, Institut Teknologi Bandung, Indonesia
• Dr. Sahid Susilo Nugroho
  Faculty of Economics and Business, Universitas Gadjah Mada, Indoensia
• Prof. Dr. Shahizan Bin Hassan
  Othman Yeop Abdullah Graduate School of Business, Universiti Utara Malaysia, Malaysia
• Dean Dr. Sia Bee Chuan
  Faculty of Accountancy and Management, Universiti Tunk Abdul Rahman, Malaysia
• Prof. Shigeki Sadato
  Institute of Business and Accounting, Kwansei Gakuin University, Japan
• Dean Dr. Siriwut Buranapin
  Faculty of Business Administration, Chiang Mai University, Thailand
• Dr. Siti Zahela Sahak
  Arshad Ayub Graduate Business School, Universiti Teknologi MARA, Malaysia
• Dr. Sri Gunawan
  Faculty of Economics and Business, Universitas Airlangga, Indonesia
• Dean Prof. Dr. Sudarso Kaderi Wiryono
  School of Business and Management, Institut Teknologi Bandung, Indonesia
• Dean Dr. Suharnomo
  Faculty of Economics and Business, Universitas Diponegoro, Indonesia
• Dr. Sujinda Chemsripong
  Faculty of Business, Economics and Communications, Naresuan University, Thailand
• Prof. Takao Shigeta
  Department of Business Administration, SBI Graduate School, Japan
• Prof. Dr.Takayuki Asada
  Faculty of Business Administration, Ritsumeikan University, Japan
• Prof. Tatsuyuki Negoro
  Graduate School of Business and Finance, Waseda University, Japan
• Dean Prof. Dr. Taufiq Marwa Rahmat
  Faculty of Economics, Universitas Sriwijaya, Indonesia
• Dr. Tee Keng Kok
  School of Business, Monash University Malaysia Sdn. Bhd., Malaysia
• Dr. Tengku Ezni Balqiah
  Faculty of Economics and Business, Universitas Indonesia, Indonesia
• Prof. Dr. Utomo Sarjono Putro
  School of Business and Management, Institut teknologi Bandung, Indonesia
• Prof. Dr. Ujang Sumarwan
  School of Business, Institut Pertanian Bogor, Indonesia
• Dean Dr. Yudi Azis
  Faculty of Economics and Business, Universitas Padjadjaran, Indonesia
• Prof. Dr. Yutaka Kakeda
  School of Cultural and Creative Studies, Aoyama Gakuin University, Japan
• Dr. Zabeda Bt. Abdul Hamid
  Graduate School of Management, IIUM Academy, Malaysia
• Dean Prof. Dr. Yasunaga Wakabayashi
  Graduate School of Management, Kyoto University, Japan
• Dr. Yasmine Nasution
  Faculty of Economics and Business, Universitas Indonesia, Indonesia

3. The ABEST21 Accreditation Process

Step A: Applying to the ABEST21 Accreditation.

• Step A1: Application for the “ABEST21 School Membership”
  The School has to become a full-school member of ABEST21 when it applies for the ABEST21 Accreditation.
• Step A2: Application for the “ABEST21 Accreditation Eligibility”
  When the School applies for ABEST21 Accreditation, it has to obtain a qualification for the ABEST21 Accreditation Application. The School submits the completed Accreditation Eligibility
  Application to the ABEST21.
• Step A3: Submission of the “ABEST21 Accreditation Application”
  The School submits the ABEST21 Accreditation Application to the ABEST21. Upon receiving the application, the School has to prepare to submit the “Quality Improvement Plan” immediately.

Step B: Reviewing the “Quality Improvement Plan (QIP)”

The School submits its QIP. If the QIP is successful, the School will proceed to preparation of Self-Check/Self-Evaluation Report, and the unsuccessful School will resubmit the QIP.

Step C: Reviewing the “Self-Check/Self-Evaluation Report (SCR)”

The School submits its SCR. In preparing the Report, the School conducts the self-check based on the basic and detailed perspectives of the accreditation standards with the support of the advisory team.

• Step C2: “Desk Review” and “Peer Review Visit”
  The Peer Review Committee entrusts the Peer Review Team (PRT) of the School with the review of the Self-Check/Self-Evaluation Report. The PRT conducts the Desk Review and the Peer Review Visit.
• Step C3: Informal announcement of the Draft of the PRT Review Report
  The PRT informally announces the Draft of the PRT Review Report to the School, providing an opportunity for the School to give its comments or objections. If any objection
  is raised by the School, the Peer Review Team shall conduct a factual survey and coordinate the statement.
• Step C4: Ratification by the PRT Review Report
  Based on the coordination of opinions between the School and the PRT, the PRT reports the Draft to the Peer Review Committee. The Committee reviews it and decides on the recommendation to the Accreditation Committee.
• Step C5: Ratification of the ABEST21 Accreditation
  The Accreditation Committee shall examine the Draft Recommendation for accreditation submitted by the Peer Review Committee and deicide by vote whether to submit it to the Board of Trustees.
  Based on the recommendation of the Accreditation Committee, the Board of Trustees reviews the recommendation and finalizes the accreditation. The accreditation result is reported to the stakeholders after the ratification by the Board of Trustees.

Step D: Reviewing the Kaizen Report

• Step D1: Submission of the Kaizen Report
  The accredited School submits the Kaizen Report for the previous school year by the end of June every year. The Report clarifies the progress achieved in resolving the Kaizen issues based on the action
  plans analyzed in the SCR.
• Step D2: Reviewing the Kaizen Report
  ABEST21 will have the School’s Peer Review Team review the Kaizen Report and its correspondence with the action plan, and prepare the Kaizen Review Report. The Peer Review Committee entrusts the Peer Review
  Team (PRT) of the School with the review of the Kaizen Report. PRT conducts document review and peer review visit and informally announces the draft of the recommendation to the School, providing an opportunity for the School to give its comments
  or objections. If any objection is raised by the School, the Peer Review Team shall conduct a factual survey and coordinate the statement.
• Step D3: Informal Announcement of the Draft of the Kaizen Review Report to the School
  The PRT submits the Kaizen Review Report to the Peer Review Committee. The Peer Review Committee examines the coordinated Draft Recommendation based on the
  feasibility of the action plan and the effectiveness of the quality maintenance and improvement of education. The result is reported to the stakeholders.
• Step D4: Ratification of the Kaizen Report
  The PRT submits the Kaizen Review Report to the Peer Review Committee. The Peer Review Committee examines the coordinated Draft Recommendation based on the feasibility of the action plan and the effectiveness of the quality maintenance and improvement of education. The result is reported to the Accreditation Committee.
  Accreditation Committee shall examine the Draft Recommendation submitted by the Peer Review Committee and decide whether to submit it to the Board of Trustees. And, based on the recommendation of the Accreditation Committee, the Board of Trustees reviews the recommendation and ratifies the report. The Kaizen Review Report is reported to the stakeholders after the ratification
  by the Board of Trustees.

4. ABEST21 Economics Accreditation Standards
CHAPTER ONE: MISSION STATEMENT

Standard 1-MISSION STATEMENT

“Any School which applies for management accreditation by ABEST21 (hereinafter called “the School”) must define a mission statement for its educational and research activities that provides a framework for how decisions are made by the School’s management.

• “The School must stipulate a mission statement.”
• “The School must develop its mission statement with the aim of nurturing highly skilled professionals in economics who are able to play an active role in the arena of a globalized competition.”
• “The School’s mission statement must be a statement that reflects the views of its stakeholders.”
• “The School must publish itsmission statement in brochures, such as its School code, student admission materials, syllabi, and program outlines, and post its mission and goals on the School’s website.”
• “The School’s mission statement must be a statement which
  includes developing expert knowledge, fundamental knowledge and sophisticated expertise in the realm of management.”

Standard 2-MISSION IMPERATIVES

“The School’s mission statement must imply nurturing highly skilled professionals in economics and bear part of the larger mission of the parent university.”

• “The School’s mission statement must imply nurturing highly skilled economics professionals who plays an active role in the globalized competition.”
• “The School’s mission statement must bear part of the larger mission of the parent university.”
• “The School’s mission statement must be a statement
  which includes developing expert knowledge, fundamental knowledge and sophisticated expertise in the realm of economics.”
• “The School’s mission statement must be a statement that indicates the support of the students’ career development.”
• “The School’s mission statement must be a statement that indicates contribution to the development of the educational and research activities of its faculty members.”

Standard 3-OBJECTIVES FOR CONTINUOUS IMPROVEMENT

“The School must review its mission statement periodically based on the defined processes which ensure continuous improvement of its mission statement in response to the changes in its educational and research environment.”

• “The School must have systematic decision-making processes for reviewing its mission statement.”
• “The School must review its mission statement periodically based on the defined processes.”
• “The School must form an operational control framework to gather and file relevant information and data in order to review its mission statement on a regular basis.”
• “The School must establish the framework for seeking the opinions of stakeholders on reviewing its mission statement continuously.”

Standard 4-FINANCIAL STRATEGIES

“The School must have both short-term and long-term financial strategies to raise necessary funds to realize its mission statement.”

• “The School must have a financial basis necessary for realizing its mission statement.”
• “The School must develop financial strategies for raising the funds necessary for realizing its mission statement.”
• “The School must take appropriate action to secure adequate budgets necessary for realizing its mission statement.”

CHAPTER TWO: EDUCATIONAL PROGRAMS

Standard 5-LEARNING GOALS

“The School must define its learning goals which imply innovation and discovery, global engagement, and diffusion of technology for realizing its mission statement.”

• “The School must define its learning goals for its educational programs.”
• “The School must publish its learning goals in brochures, such as its School code, student admission materials, syllabi, and program outlines, and publicize them to its students.”
• “The School must provide academic assistance to students in choosing the courses in line with their learning objectives, in accordance with the course registration guidelines defined by the School.”
• “The School must build a system to enhance communication among students, faculty,
  and staff, and provide academic assistance to students to help them achieve their goals.”

Standard 6-MANAGEMENT OF CURRICULA

“The School must design its curriculum systematically to realize its mission statement.”

• “In designing its curriculum, the School must include core courses to provide a foundation necessary for economics education and research.”
• “In designing its curriculum, the School must aim at helping students acquire expertise, advanced professional skills, advanced levels of scholarship, high ethical standards, and a broad international perspective which are necessary for economics professionals.”
• “In designing its curriculum, the School must pay attention to combining theory and practice effectively in line with its mission statement and following the current trends in economics education and research.”
• “The School must set a process to review its curriculum systematically and update its curriculum periodically.”
• “The School must design a system which enables its students to take related courses in other departments at the same university and at other universities, a credit transfer system with other schools, and a system to allow students to receive academic credit by completing an internship program.”
• “The School must utilize appropriate educational methods, including case studies, site surveys, debates, discussions, and question and answer sessions between faculty members and students and / or among students.”
• “When the School provides distance education, it must aim to maximize its educational effect by utilizing various media.”

Standard 7-EDUCATIONAL LEVEL

“The School must set the quality level of educational content so as to enable students to achieve their learning goals.”

• “The School must provide an environment and a guidance system that is conducive to learning and teaching in order
  to maintain the quality level of educational content.”
• “The School must secure adequate classroom hours necessary for completing one credit of each course in order to maintain the quality level of educational content.”
• “The School must design adequate time schedules and set a limit to the number of credits which students can take to assure students’ learning efficiency in order to maintain the quality level of educational content.”
• “The School must establish clearly defined standards for calculating grades and for evaluating the academic performance of its students, state them in its School code, and inform the students of them in order to maintain the quality level of educational content.”
• “The School must take measures that ensure that the completion of the program and the academic performance of students are evaluated fairly, and that grades are calculated in an objective and standardized way in order to maintain the
  quality level of educational content.”
• “The School must set a quota on the number of students registered to a course in accordance with its educational methods, the availability and condition of its facilities, and other educational considerations in order to maintain the quality level of educational content.”
• “The School must provide adequate registration guidance, learning guidance and academic and career guidance to respond to the needs of diversified student body including foreign students in order to maintain the quality level of educational content.”
• “The School’s faculty members should share information about students’ course records, attendance rates for each program, total credits earned and academic grades, and develop initiatives to improve students’ learning in order to maintain the quality level of educational content.”
• “In case of providing shortened programs, the School must ensure that the educational methods and time schedules enable the students to achieve its learning goals in order to maintain quality level of education.”
• “The School must provide sufficient support for the students taking distance education programs in order to maintain the quality level of educational content.”

Standard 8-MEASURES TO IMPROVE EDUCATIONAL QUALITY

“The School must improve its educational program quality in a systematic manner to realize its mission statement.”

• “The School must review its learning outcome systematically and periodically in order to improve its educational program quality.”
• “The School must prepare syllabi which state its educational goals, course contents, course plans, educational methods, class materials, faculty office hours, and standards for evaluating academic performance, and disclose the syllabi.”
• “The School must review the contents and practices of its syllabi in a systematic manner.”
• “The School must review its curriculum quality by both examining students’ course records, total credits earned, academic grades and career options, and reviewing opinions from stakeholders.”
• “The School must do periodic self-check/self-evaluations and publicize the results.”
• “The School must conduct faculty development/staff development in a systematic manner in order to improve its educational program quality.”
• “The School should establish a system for awarding faculty members who achieve distinguished teaching and research results in order to ensure
  high quality of education and research.”

CHAPTER THREE: STUDENTS

Standard 9-STUDENT PROFILEY

“The School must specify the target student population and profile of its students to realize its mission statement.”

• “The School must specify the target student population and profile of its students.”
• “The School must make efforts to secure students with target profiles through its selection processes.”
• “The School must provide opportunities for the candidates to take entrance examinations in a fair and unbiased way.”
• “The School must update its target student profile periodically to meet the requirements of the School’s admission policy.”
• “The School must take measures to attract a diverse student body that possesses a variety of backgrounds and values to meet the needs of globalization.”

Standard 10-STUDENT ADMISSION

“The School must clearly stipulate its admission policy in its selection processes.”

• “The School’s admission policy must be a policy to accept students with target profiles.”
• “The School must clearly articulate its admission policy and selection criteria in brochures such as student admission materials and show them to all prospective candidates.”
• “The School must evaluate the scholastic abilities and aptitudes of candidates in a consistent and objective fashion through its selection processes.”
• “The School must match the actual number of student enrollment with the required enrollment through its selection processes.”
• “The School must review the needs of its target student profile periodically to secure the necessary number of students.”

Standard 11-STUDENT SUPPORT

“The School must have appropriate student support systems that help students concentrate on their academic work.”

• “The School must take various measures to provide financial support to students who need it.”
• “The
  School must have administrative offices which collect and process relevant information and provide consultation for the students concerning academic guidance and career development.”
• “The School must establish support systems to provide academic counseling and any other support that students require.”
• “The School must provide appropriate academic support and lifestyle support to international students and disabled students.”

Standard 12-STUDENT INCENTIVE

“The School must take measures to enhance the academic progression of its students to realize its mission statement.”

• “The School must have a system that rewards students who achieve excellent academic results.”
• “The
  School must have a system for providing academic support to the students who face difficulties with continuing their studies.”
• “The School must hold orientation programs at the time students enter the School, before the new academic year begins, or when the curriculum is updated, to provide incentives for students to achieve high standards of academic work.”

CHAPTER FOUR: FACULTY

Standard 13-FACULTY SUFFICIENCY

“The School must maintain an adequate faculty organization to realize its mission statement.”

• “The School must have a number of participating faculty members that is adequate for its educational programs.”
• “The School must maintain a sufficient number of full-time Professors and/or Associate Professors for the courses in the educational programs.”
• “The School must secure adequate number of practically qualified faculty members.”
• “The School must ensure that the ratio of full-time and part-time faculty members in its faculty organization is appropriate.”
• “The School must maintain faculty diversity in terms of age and gender.”
• “The School must maintain faculty diversity to meet the needs in the age of globalization.”

Standard 14 –FACULTY QUALIFICATIONSY

“The School must hire faculty members who possess intellectual qualifications, relevant expertise and teaching skills necessary for realizing its mission statement.”

• “The School must maintain qualified participating faculty members for each of the majors it offers in accordance with the following criteria:
  • Faculty members recognized as possessing outstanding accomplishments in research or education;
  • Faculty members recognized as possessing outstanding skills
    in their field of study;
  • Faculty members recognized as possessing outstanding knowledge and experience in their field of study.”
• “The School must set rules and standards for recruiting and promotion of faculty members.”
• “The School must have a promotion system for faculty members and evaluate each faculty member fairly and objectively through this system.”
• “The School must periodically assess its faculty members by reviewing their
  educational and research performance during the last five years.”
• “The School must disclose information about the educational and research performance of participating faculty members during the previous five years.”
• “The School must evaluate academic performance of professional faculty members periodically, and assign the courses which they teach appropriately.”

Standard 15-FACULTY SUPPORT

“The School must have an educational and research environment necessary for promoting educational and research activities of its faculty members.”

• “The School must limit the number of courses its faculty members teach so that faculty members can secure time to develop their educational and research activities.”
• “The School must have a support system to secure the research funds necessary for promoting faculty members’ educational and research activities.”
• “The School must have a support system including administrative and technical support staff necessary for promoting faculty members’ educational and research activities.”
• “The School must take appropriate steps to vitalize its educational programs so as to promote the educational and research activities of its faculty.”

Standard 16-RESPONSIBILITIES OF FACULTY MEMBERS

“The School must ensure that the faculty members strive to communicate with its stakeholders and that their research and teaching activities are aimed at achieving the School’s mission statement.”

• “The School must ensure systematically that the faculty members continuously develop and improve their course contents, materials used in their courses, and teaching methods based on the results of the self-check/self-evaluation and the student evaluation.”
• “The School must ensure systematically that the faculty members strive to teach cutting-edge expertise and specialized knowledge in their respective fields of study in order to achieve the learning goals.”
• “The School must ensure systematically that the faculty members set office hours and actively communicate with the students through e-mail in order to help them to achieve their learning goals.”

CHAPTER FIVE: SUPPORTING STAFF AND INFRASTRUCTURE

Standard 17-EDUCATIONAL RESPONSIBILITIES OF STAFF

“The School must have an appropriate administrative system to support educational and research activities of its faculty members in order to realize its mission statement.”

• “The School must institute management systems, including faculty meetings and executive committees, to discuss administrative issues and to make and enforce the decisions required to achieve its mission statement.”
• “The School must institute administrative systems which are in an appropriate
  proportion to its size and status.”
• “The School must institute administrative systems which are able to respond to the needs of globalization.”
• “The School must institute administrative systems that adequately support
  the educational and research activities of its faculty members.”

Standard 18-INFRASTRUCTURE SUPPORT

“The School must maintain educational and research facilities and other infrastructure needed to achieve its mission statement.”

• “The School must maintain an appropriate number and quality of its facilities, such as classrooms, seminar rooms, and study rooms, in order to enhance the efficiency of its educational programs.”
• “The School must provide an office for faculty members to prepare for class, especially an individual office for each full-time member.”
• “The School must systematically maintain a collection of books, academic journals, and audiovisual materials necessary for the educational and research activities of both students and faculty.”
• “The School must effectively utilize and maintain facilities and equipment appropriate for its educational and research activities and the delivery of its educational programs.”
• “The School must provide study environments which enable students to engage in self-study, and encourage students to make use of these environments.”

II. The Peer Review Team Comprehensive Evaluation

1.PRT Quality Assurance Evaluation

1) The School’s Mission Statement

Being aware that there is increasing need in many government institutions and industries for the human resources possessing sufficient knowledge or theoretical background to solve various problems, the School sees its mission in bridging the gap between theory and practice and transform academic wisdom into better community development. This general mission is translated into three practical missions as follows:

• Master Program of Applied Economics produces graduates in applied economics with strong skills in economic analysis and quantitative analytical tools such as macroeconometrics and microeconometrics.;
• Master Program of Applied Economics produces graduates in applied economics that are capable of using and implementing economics methods of analysis to solve various problems in both micro and macroeconomic perspectives;
• Master Program of Applied Economics contributes to the solution of the problems facing local and national governments, business entities and the society in general.

The first mission is based on the understanding that economics as a branch of science is built and developed on the assumption that human rational behavior aims to attain private as well as social welfare. Economics also developed using both qualitative and quantitative methodological approaches that have been proved scientifically to improve welfare. Nobel prize that has been given to economists annually tells much about the nature of economics. MET (Magister Ekonomi Terapan) as a study program that is backed up by human resources with strong economics foundation and quantitative analytical tools has the mission to share these capabilities with the society by teaching and producing graduates who potentially will make important decisions in their institutions or organizations.
The second mission is related to the first mission. MET aims to develop the ability of graduates to use and implement what they acquired in the program to solve ever-existing problems they face, using the methodology of applied economics. Students are taught to identify the problem, find relevant data, map out possible solutions, carry out quantitative and qualitative analysis, develop conclusions, and formulate relevant policy implications. This process of training is integrated in the curriculum and the learning process. At the end of this learning process the student is required to produce a thesis and defend it before examination committee to prove whether they are capable of using and implementing applied economics methods to solve the problem.
The third mission is derived from the School’s willingness, as an institution having sufficient resources and experiences, to contribute directly to the society by helping to find the solutions to the problems they face. This mission is carried out by extending collaboration and/or cooperation between MET and its faculty members acting on behalf of MET, and other institutions in working on relevant projects. Collaboration with Pusbindiklatren Bappenas, BPKP, Ministry of Finance to provide training are examples where MET has made a direct contribution to human resource development in these institutions. Some activities that conducted by MET’s lecturers under Tri Dharma – consultations, seminars and publications are another example of implementing this mission.

2) The School’s Educational System

i. Learning Goals

MET developed its learning goals based on its mission of “Bridging the gap between theory and practice and transforming academic wisdom into better community development”. Thus the learning goals are focused on creating and nurturing highly qualified professionals by strengthening their expertise in applied economics and ability to implement their skills in their institution/working place so that they are able to contibute to better development of the society. Furthermore, the existence of MET is expected institutionally to contribute to the development of applied economics as well as development of human resources at the local and national level.
MET graduates are expected to have (1) Personality that enables them to understand and uphold academic ethics and academic integrity; (2) Knowledge and Skills which are scientific knowledge and ability to bridge the knowing-doing gap as well as sharp economic intuition; (3) Ability to work in terms of policy analysis and evaluation using appropriate analytical tools both qualitative and quantitative. In addition, the graduates should be able to perform comprehensive and effective problem-solving process and have the awareness of practical economic problems, especially in their respective areas of specialization; (4) Attitude and behavior in work as an the ability to work independently and use adequate inter-personal skills, hard and soft skills, and also having sense of confidence and communication ability; (5) Understanding rules in social interaction trough the ability to develop a professional career and pursue higher studies. They need to demonstrate self-reliance, proactivity, high adaptability, broad-mindedness and have a high sense of social responsibility.
The learning goals are represented in several areas of concentration. Special emphasis of the learning goals is put on the mastery of fundamental theories, technical ability to use specific software such as Eviews and Stata for data analysis, and the ability to identify the problems, to analyze relevant data, to map possible solutions, and finally to draw conclusions from data analysis and policy implications.

ii. Curriculum

The curriculum in MET is developed based upon two requirements: national standard work load (national standard of higher education) of master program that ranges from 36 credits to 50 credits for the whole program, and market demands that can be met with MET’s expertise.
To conform to all the requirements, MET requires students to accomplish a minimum of 41 credits and gives the students an opportunity to take additional credits from elective courses according to their needs. These 41 credits are divided into three categories:

• 22 credits of core (compulsory) courses
• 12 credits of optional (concentration) courses, where 6 credits are obligatory and another 6 credits are electives within the concentration courses
• 7 credits of seminar and thesis writing.

The normal duration for the study in MET is 18-24 months. According to national regulations, maximum duration of study is 8 semesters (new regulation, previously maximum was 10 semesters), including thesis examination.
All of 22 credits of compulsory courses are delivered in the first two semesters. In each semester, there are four courses as follows:
First Semester:

• Macroeconomic Analysis (3 credits)
• Microeconomic Analysis (3 credits)
• Applied econometrics (3 credits)
• Philosophy of Science (2 credits)

Second Semester:

• Political economics and regulation (3 credits)
• Research methods for economics and business (3 credits)
• Analysis of Indonesian economy and business (3 credits)
• Special topics on public management and planning (3 credits)

Students can choose any specialization (concentration) from the following alternatives:

• Economics of Development and Planning
• Finance and Banking
• Economics of State and Local Finance
• Natural Resources and Environmental Economics
• Business Economics
• Energy Economics
• Public Management and Policy Analysis (for Linkage Program).

The objective of each specialization or concentration and its specialized courses are explained below.
v Economics of Development and Planning
The objective of this specialization is to train the students to comprehend the nature of development and its planning using various tools in development economics, to solve relevant economic problems. These tools of analysis range from simple to advanced. Therefore, it is expected that graduates from this specialization can do planning for better economic development both in the local, national, and even international context.
Students of this specialization must take four out of 6 offered specialization courses, namely:

• Analysis of project evaluation
• Economic growth and development
• Analysis of economic development policy
• Economic development planning technique
• Regional economic development planning technique
• Urban and rural economic and development technique.

v Finance and Banking
By taking this specialization, students are guided to critically think about issues and problems in the finance and banking sectors in the national and global context. Further, they are taught to be experts in using banking-and-finance-related tools such as market measurement, risk, and financial institutional practices.
There are 7 specialization courses offered, and four of them must be taken by students in economics of banking and finance concentration. These 7 courses are:

• Economics of banking sector
• Financial economics
• International banking system
• Asset valuation and portfolio
• Market and financial institution
• Policy making technique
• International finance.

v Economics of State and Local Finance
This specialization focuses on systematical problem-solving in a public policy process and its potential issues. Students in this specialization are provided with knowledge on the role of economic and political factors in decision making process, cost benefit analysis, policy choice, issues of resource allocation, and choice modeling.
Students have to take four of the five courses offered in this specialization, i.e.:

• Public finance
• Fiscal decentralization and regional finance
• Urban and regional planning technique
• Public finance and budget planning
• Analysis of project evaluation.

v Natural Resources and Environmental Economics
Students who are taking this specialization are expected to have ability in quantitative analysis and modeling in order to cope with challenges of natural resources overexploitation and environment degradation. Knowledge and skills provided by this specialization can be applied in developing policy on natural resources allocation and pollution control, which is conductive to sustainable development. Graduates of this specialization can pursue various careers at government or non-profit institutions, private businesses, and educational institutions.
There are six specialization courses, namely:

• Economics of natural resources and environment
• Environment asset valuation
• Development economics
• Environmental management
• Economic analysis of public policy
• Analysis of project evaluation.

v Business Economics
Within this specialization, students are introduced to analysis of business’ environment based on market competition and are trained to formulate relevant strategies to face market competition.
MET offers five specialization/concentration courses as follows, students have to take four courses.

• Analysis of industrial organization behavior
• Economics of strategy
• Managerial economics
• Application of game theory
• Econometrics for business and finance.

v Energy Economics
Students who take this specialization are expected to conduct an analysis of and to develop energy policy innovations, and to map energy risk in the future. By taking this specialization, students develop deep understanding of energy sustainability policy, energy finance and geopolitics of energy as one of prominent issues on the world’s energy management, including in Indonesia.
Among 7 specialization courses below, students are required to take four courses. The offered courses are:

• Economics of energy
• Policies on energy
• Economics of oil
• Economics of energy and climate change
• Financial economics for energy sector
• Risk management of energy sector
• Quantitative method for energy sector.

v Public Management and Policy Analysis (linkage program)
Students in this specialization accumulate 28 credits in MET during two semesters and 20 credits in Japan, including thesis writing. There are four collaborating universities, i.e. GRIPS, International University of Japan, Takushoku University and Ritsumeikan University.
For the linkage program between MET and IUJ, courses to be taken in MET are:
First Semester:

• Macroeconomic Analysis (3 credits)
• Microeconomic Analysis (3 credits)
• Applied econometrics (3 credits)
• Philosophy of Science (2 credits)
• Analysis of Indonesia’s Economy and Business

Second Semester:

• Economics of politics and regulation (3 credits)
• Research methods for economics and business (3 credits)
• Economics of entrepreneurship (3 credits)
• Public finance and public planning (3 credits)
• Special topics on public management and planning (3 credits)

Courses offered by IUJ (International University of Japan) for the third and fourth semester are:
Third Semester:

• Public administration (2 credits)
• Public management (2 credits)
• Public policy modeling and management (2 credits)
• Public policy process
• Elective courses (at least 8 credits)

Fourth semester:

• Thesis writing (4 credits).

iii. Development of MET Curriculum

Continuous improvement of curriculum is essential to capture the dynamic gap between theories and practice.
Besides, developments in market demand anticipated due to the changes in national standard and the development of human resources in MET and FEB in general also affect the decision to improve our curriculum.
Since the establishment of the study program in 2003, MET has improved its curriculum 3 times. The latest change took place in 2013 and was presented at FEB workshop held in the city of Garut. The following table shows the development of MET curriculum:

Note: name of concentration in italic is a new (name of) concentration

3) The School’s Educational Degree Programs

MET is a part of national education system, and its learning environment and grading system are regulated by Universitas Padjadjaran. However, characteristics and advantages of each study program create specific learning environment. Since 2012, grading system for all study programs in the University must use the same classification as follows:

Another national standard that the study program should conform to is the duration and work load per credit. One credit is equivalent to 50 minutes class meeting, 50 minutes of structured assignment, and 50 minutes of independent activity. Therefore, a course with 3 credits is equivalent with 150 minutes of the above activities. This means that for a normal weekly workload, a full-time student can take 12-15 credits per semester.
In MET, for a student to graduate from the master program, she/he must pass all the courses she/he takes with minimum GPA of 3,0. Besides, the student must pass the seminar on thesis proposal, and thesis examination. Both seminar and thesis defense are examined by 5 lecturers including 2 supervisors. There are cases where the students did not pass either seminar or thesis defense satisfactorily. These cases occur usually when the students are not satisfactorily defending their thesis, especially in terms of framework analysis and the methodology used. Although the case has been rare, we consider it an issue to be improved.

4) The School’s Scope of Accreditation

Faculty of Economics and Business (FEB) is one of the biggest faculties in Universitas Padjadjaran. Currently, FEB has 18 study programs ranging from vocational to doctoral. There are 5 vocational (diploma) programs, 4 undergraduate programs, 1 professional program, 6 master programs, and 3 doctoral programs. Out of six master programs, there are 3 programs that have been accredited with an (A) degree from BAN-PT. One of these master programs (i.e Master Program of Management) has been accredited by ABEST21 in 2014.
The scope of the current accreditation will include only one master program: Master of Applied Economics (MAE or MET in Bahasa Indonesia). MET earned the highest degree (A) accreditation from BAN-PT in 2013. In accordance with vision of FEB and Universitas Padjadjaran, the program would extend its scope of accreditation to international level. The university and the faculty have strong commitment to support the internationalization of their study program.

5) The Peer Review Team

6) The Peer Review Schedule

7) The Peer Review Result

i. Comprehensive Review

“ABEST21 certifies that the School’s educational and research activities generally satisfy accreditation standards. The School’s KAIZEN plans are good and quality maintenance and prospects for the improvement of education and research are promising and goods.”
Overall, Master of Applied Economics is a prospective program as can be seen from its aim to develop so-called quantitative analysis and to build the scientific capacity of its graduates. However, it is still not clear how the School plans to penetrate the wider global world.

ii. The Period of Quality Assurance

Accreditation commences April 1, 2018 for a five-year period. After the accreditation, the School must implement the yearly plan according to its action plan, and respond to the expectations of the social stakeholders. Therefore, the School is required to submit the progress report (KAIZEN Report) by the end of June at the 3rd year after being accredited.

2. Good Practice in Management Education

“Management Education in Applied Economics”
The emphasis of the School in the application of economic theories and solving real economic problems, as well as the nature of students’ population who are in the position to actually apply what they learned in the workplace, are acknowledged by the PRT as a good practice.

3. Matter to be noted

Comprehensive planning will provide an overview and future direction that will be taken by MET. Similarly, issues to be improved require attention and need to be accompanied by tactics and achievement strategies so that the realization of the mission is more effective and efficient.