The Faculty of Economics and Business was established as an independent entity at the Tbilisi State University in 1931 on the basis of the Social-Economic Faculty founded in 1922. Development of the University as well as development of economic education in Georgia is associated with the name of Ivane Javakhishvili.  Until 1944, the Faculty of Economics was the first and the only educational and research center in our country. Currently, nearly all Georgian universities offer courses in economics, where lectures are delivered by the alumni of the Faculty of Economics.

Until 2005 four faculties of the Tbilisi State University (Faculty of Economics, Microeconomics and Management, Marketing and Commerce, International Business) were preparing specialists in the field of economic and business. Establishment of the Faculty of Economics and Business, which is the largest faculty at the Tbilisi State University, is the result of the reforms that have been carried out in Georgian educational system and in TSU in 2005.