The Faculty of Economics was founded on July 9, 1995 as a Faculty of Economics in the result of joining Faculty of Humanities of Urgench State University and Urgench Branch of the Tashkent State University of Economics.

        The head of the faculty is the doctor of economic sciences, professor Abdullaev Ilyos Sultanovich. There are 4 departments in the faculty, including the head of the department "Economy" Ph.D. Associate Professor Rahimov Tuxtabek Jumabaevich, the head of the department "Management and marketing" Ph.D. Associate Professor Ruzmetov Sherzodbek Bakhtiyarovich, the head of the department "Tourism and hotel Management", Ph.D. Associate Professor Ollanazarov Bekmurod Davlatmurodovich, the head of the department "Accounting and audit", Ph.D., Associate Professor Fayzullaev Nurulla Bahromovich.

        In the faculty there are 59 professor-teachers, including 4 doctors of sciences and professors, 16 candidates of sciences and associate professors, 13 senior lecturers and 20 assistant teachers.

        The faculty has established international relations with the leading universities of the USA, England, Germany, Spain, Great Britain, Czech Republic, Russia, Poland, Belgium, Slovenia, Italy, Japan and other countries. At the departments of the faculty below mentioned subjects are taught: Management, Marketing, Econometrics, Innovation Strategy, Labor Economics, Regional Economics, Agroeconomic Economy, Institutional Economics, Tourism: Theory and Practice, International Tourism, Restaurant Management, Service Basics, Ecological Tourism, Theory of economics, national economy, world economy and international economic relations, macroeconomic analysis and forecasting, statistics, audit, accounting theory, finance and taxation.