History of the Institute begins with the creation of the “Faculty of Economics and Management” in 1993. It consisted of three producing departments: Economics and Management in Construction “(EMC),” Economics and Management in Engineering “(EMM), “Economics and Management in Mining (EMGG) ” and two general education department: “Economic theory” and “Applied Mathematics”. The first dean of the faculty was Associate Professor, Ph.D. Jusko V.S

Since November 1995 professor, Ph.D. Togaybaev K.B. became a Dean of the Faculty.

In accordance with the decision of the Academic Board of KSTU in February 1, 1997, three producing departments were merged into two separate issuing departments: “Economics of the Enterprise” and “Management in the Enterprise” while maintaining the Department of “Economic Theory”.
In April 2001 was appointed the Dean of the Faculty, assistant professor of “Economics of the enterprise” department, Alpysbayeva N.A.
In 2009, after the restructuring of departments of the faculty established the department of “Production organization” (former MP).

In September 2010, Faculty of “Economics and Management” was transformed into the Institute of “Economics and business” and from 26 November 2010 by decision of the Academic Board of KSTU renamed the Institute of “Economics” of KSTU.
Director of the Institute is Professor Alpysbayeva N.A.

Currently, the Institute of “Economics” prepares the following specialties:
– 5V050600 “Economics”
– 5V050700 “Management”
– 5V050800 “Accounting and Auditing”
– 5V051000 “State and Local Management”

– 5V051100 “Marketing”
– 5V090400 “Socio-cultural service”
– 5V090800 “Assess”
Since 2010 specialty “Consumer Services and the service” was renamed to the “Socio-cultural service.”

Institute of “Economics” prepares masters in: 6M051000 «State and Local Management», 6M050600 «Economics».

06/29/2015 – September 2017 of the year, the Dean of FIEM was Ph.D. Associate Professor Davletbaeva N.B.

Since September 2017 and up to now The Acting Dean of FIEM is the Doctor of Economics, Associate Professor Biryukov V.V.