The Faculty was created on October 9, 1922 as part of the Division of Economics of the former Petrovskaya Academy per resolution of the Board of Chief Administration of professional education.  Professor A.V.Chayanov deserves greatly the credit for establishing and organizing the Faculty, and developing the economic science. At his suggestion the Division of Economics was open in 1920, and Faculty of Economics and the Scientific and Research Institute of Economics and Policy in Agriculture was established in 1922.

Professors G.Y. Gurov, G.S. Gordeev, and S.M. Dubrovsky took active part in establishing of the Faculty. Professor P.A. Mesyatsev, the member of the Board of the People’s Commissariat in Soil Management was appointed the first Dean of the Faculty.
Many world known scientists conducted researches and lectured at the Chairs of the Faculty, professor A.Y. Miroshkin, P.A.Vikhlyev, A.F. Fortunatov, P.I. Lyashenko, A.A. Ryibnikov, A.A. Bogolepov, N.P. Makarov, A.N. Chelintsev, A.A. Manuilov and N.P. Nazarov are among them.
The first large-scale graduation of economists took place in 1927. In the 1960s and 1970s the Faculty started training of economist-managers, economists in accounting and the analysis of economic activity, economist-mathematicians. Since 1995 training on the basis of non-residence and correspondence studies has been provided. The Faculty offers study programs of continuing education.
The considerable contribution to training of specialists, publishing of educational and methodical literature, and to research on the actual problems of agricultural and industrial complex of Russia was made by academicians of the VASHNIL V.S.Nemchinov, S.G.Kolesnev, G.M.Loza, M.I.Sinjukov, A.A.Nikonov, G.I.Budyilkin, S.S.Sergeev, V.A.Dobrinin, professors S.M.Putyato, F.S.Krokhalev, A.G.Shmakov, I.S.Kuvshinov, E.A.Rudakova, S.F.Demidov, P.P.Dunaev, P.A.Granditsky, V.M.Obukhovsky, I.M.Prokofjev, E.S.Tserlevskaya, R.G.Kravchenko, A.G.Pervushin, and M.N.Gromov.
The Faculty conducts training in the following specialties:
- Economics and Management in Agricultural and Industrial Complex (qualification of economist-manager) with specializations in entrepreneurship organization; organization and planning of foreign economic activity; antirecession management; strategic planning at an enterprise; property estimation, marketing management, organization of extension and information support in agricultural and industrial complex, organization and remuneration of labor.
- Mathematical Methods in Economics (qualification of economist-mathematician) with a specialization in mathematical methods in economics of agricultural and industrial complex.
Leading scientific and pedagogical schools have been formed in the above-mentioned branches of training. These schools function within the framework of leading Chairs.
Professional training of students is based on required courses in such disciplines as Humanities, Social and Economic Sciences, Mathematics and Basic Sciences, and general profession-oriented disciplines.  Graduate students study disciplines in the chosen area of concentration.
Since 1999 the Faculty offers a 2-year full-time graduate programs: Extension and Information Support in Agricultural and Industrial Complex, and Production Management, leading to the Master of Science degree.
Today, the Faculty comprises ten Chairs: Organization of Agricultural Production, Economics in Agriculture, Economic Cybernetics, Forecasting and Planning in Agroindustrial Complex, Management of Agricultural Production, Political Economy, World Agriculture and International Economic Relations, Marketing, Labor in Agriculture, and Information – Extension Technologies.
The Faculty has more than 150 faculty members, including 29 professors, nine academicians and corresponding members of the Russian Academy of Agricultural Sciences and other branch academies, and 130 associate professors. Well-known scientists conduct research and deliver lectures at the Faculty, including the corresponding members V.M. Bautin, A.M. Gataulin, E.B. Khlebutin, professors A.V. Belyaev, S.I. Gryadov, A.S.Ivanov, N.Y.Kovalenko, Yu.B. Korolev, K.P. Lichko, A.K. Pastukhov, A.V. Poshataev, M.P. Tushkanov, Yu.N. Shumakov, F.K. Shakirov and others.
At present, 2,200 students, 150 postgraduate students and candidates for Doctor’s Degree study at the Faculty. There are three Specialized Candidate and Doctor of Science Dissertation Committees at the Faculty.
In different years the Deans of the Faculties were V.N. Maksimovsky, S.M. Dubrovsky, P.Y. Gurov, I.N. Nekrasov, G.M. Loza, M.M. Sokolov, I.S. Kuvshinov, A.I. Stepanov, S.S. Sergeev, A.G. Shmakov, P.P. Dunaev, V.A. Dobrinin, M.P.Tushkanov, A.P.Zinchenko, V.A.Udalov, V.S.Filimonov, and V.I. Eremin. Since 2004 the Dean of the Faculty is a corresponding member of Russian Academy of Agricultural Sciences, professor A.M.Gataulin.
The Faculty has close relations with foreign scientists, in particular from Humboldt University (Berlin, Germany), University of Hohenheim (Stuttgart, Germany), Wageningen University (the Netherlands), the Institute of Agricultural Development in Central and Eastern Europe (IAMO in Halle, Germany), Bavarian Ministry of Agriculture and Forestry (Munich, Germany), and some US Universities.
Over the years of its existence the Faculty has trained more than 12,000 specialists, researchers and lecturers in economics, including 590 specialists and Candidates of Science for 65 foreign countries. Many Faculty graduates have become well-known leaders and specialists in agricultural industry, great scientists, as well as state and public leaders.
Quickly changing economic conditions require from specialists proficiency in the production and financial management, marketing, in building of economic models, and financial analysis of agribusiness. Under professional supervision the students acquire skills in production situation analysis, in creating a scenario of enterprise development, and master methods and instruments of operative and strategic management.
Training is provided with a flexible curriculum, considering students’ professional interests, demands of agricultural industry, and the latest achievements in science and technologies. Students receive good practical training at home and foreign enterprises and universities.

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