The Faculty, as an independent structural unit of the Institute, was founded in 1966 with the purpose of training the highly qualified personnel in economics for road transport companies and was called the Faculty of Engineering and Economics. The faculty includes the following departments: Management, Economics and Entrepreneurship, Accounting and Taxation, Physical Education and Sports.

Graduates of the faculty are being trained to work at enterprises of different industries and forms of ownership. After gaining practical skills, they can hold the positions of heads of enterprises, departments, units, and services. The faculty constantly improves the educational process, introduces modern methods of teaching using advanced information and computer technologies, enhances the methodological support of academic disciplines, develops scientific and industrial relations. Practical training is carried out at advanced industrial, motor transport and road-building enterprises and organizations with the involvement of highly qualified specialists-manufacturers. Practical training in far abroad is organized individually.