The Faculty of Economics and Management (FEM) is the 8th faculty of Bogor Agricultural University (Institut Pertanian Bogor/IPB). The founding of FEM IPB was based upon the philosophy that IPB is the only agricultural university in Indonesia given the mandate to holistically develop agricultural knowledge and technology, but it didn’t have a faculty whose mandate was to develop the economic and management science to support the development of agriculture, specifically, andIndonesia’s economic development in general. The formal foundation of the establishment of the Faculty of Economics and Management is inscribed on the plaque signed by the Vice President of Indonesia at that time, Megawati Soekarnoputri, on April 6, 2001. The inscription on the plaque says: “It is known that the main pilar of continuous economic development is the development of agriculture aimed to improve the welfare of the people and the country in a just way. Therefore, the presence of the Faculty of Economics and Management, Bogor Agricultural University, will strengthen Indonesia’s micro and macro agricultural economy. Bogor, April 6, 2001. Megawati Soekarnoputri – The Vice President of Indonesia”.
Legally FEM IPB was born on April 20, 2001 based upon the Rector’s decree number 059/K13.12.1/OT/2001. When it was first founded, FEM IPB had two programs, the Economics Program and the Management Program. The two programs were then declared as departments in 2007. In 2005, IPB went through a restructurization and FEM formed two new departments, the Department of Agribusiness and the Program of Resource and Environmental Economics.