The first name of the structural unit, which started functioning in 1991, was the Department of Economic Sciences. In different years, various departments such as General economy, Administrative Management, Finance, and economy operated in the university in the fields of finance and economy, and according to the structural changes carried out in 2022, the Department of Finance and accounting was established based on the Department of Finance and economy.
At the moment, the department is training 3 bachelor's degrees, 7 master’s degrees, and 2 specialty and direction economists in the programs of the Doctor of Philosophy in the Azerbaijani and English departments, and scientific research works are being carried out.