**Abstract**

Internationalization is unevitable in the midst of globalization era. Higher education, not exception, must welcome the internationalization agenda by setting up some strategic programs and approaches through various and innovative internationalization activities. Universitas Muhammadiyah Yogyakarta (UMY) is one of premier universities in Indonesia which is continuously committed to promote internationalization agenda, shown by the setting up the long term roadmap to internationalization. Technically, the internationalization process is executed by some international programs, such as International Program for Islamic Economics and Finance (IPIEF) which structurally is under department of economics, faculty of economics and business. In consonant with internationalization, IPIEF refers to stipulated vision and mission by department of economics, which is in line with university's road map, namely to move as a reputable international program. Practically, IPIEF has set some programs which indicate some serious efforts and commitments which is based on integration between Islamic and conventional values in its curriculum. Surely, the integration intends to cover the notion that internationalization is not merely to equip students and staffs with pragmatic-based aspect, but also value-based aspect. A set of international instruments are developed which are divided into five separated pillars and buffered by some activities within its respective pillars. Finally, IPIEF proposes a masterplan as a raw model consists of standardized business models, including input, process, and output, tied with solid vision and mission. In turn, internationalization agenda is expected not only as a showcase of university agenda as part of international community, but also as a tool to promote impacts in community at large.

**Keywords:** internationalization, UMY, IPIEF, yogyakarta, Indonesia
