The Department of Economics is the first department of the Faculty of Economics and Administrative Sciences which was founded in 1992. The department received first students for the evening education in the academic year of 1993-1994. In the following academic year normal education started. These two programs are currently in function. The department granted first undergraduate degrees in 1997.
In the establishment process, the department used the Çukursaray and Agavat buildings of the Yıldız Central Campus. In February 2000, the department is moved to the historical faculty building in the entrance of the same campus. In September 2016, it is moved to the faculty building in Davutpaşa Campus in which it currently operates.
Undergraduate education in the Department of Economics has an English and a Turkish program. In addition, the department maintains masters, non-thesis masters (Modern Monetary Economics) and PhD programs under Institute of Social Sciences as the sub-department of economics.