The Faculty of Economics is associated with the revolutionary activities of the great leader Comrade Kim Jong Il, who took a politico-economic course in this faculty from September, 1960 to March, 1964.

The mission of the faculty of economics is to train competent specialists in the field of economics who have mastered the Juche-based theories of economy and are capable of solving problems arising in economic management.

With a strong research capability, the faculty of economics plays a central role in solving practical problems in economy.

It began as the department of economics at the time of foundation and developed into a separate faculty named the faculty of economics in September, Juche 38 (1949).

The faculty has ten departments, which include Department No.1 of Juche Political Economics, Department No.2 of Juche Political Economics, Department of National Economic Planning, Statistics Department, Department of Economic Informatics, Department Of International Trade, Department of International Investment & Tourist Economics, Department of Economic Management, Demography Department and Department of History of Economic Theories, and has two research units, which include Economic Information Research Unite and Economic Management Research Unit.

It offers courses in political economics, economic management and international economics.

The main subjects include political economics, History of Economic Theories, Stock Investment, Enterprise Resources Planning, IP Applied Statistics, International Trade, Fundamentals of Foreign Trade, Demography, Reproduction Theory, Statistics, Economic Statistics, Social Statistics and Overseas Marketing Strategy.

The faculty of economics has a staff of eighty lecturers and researchers including one academician, one candidate academician and thirty Doctors of Philosophy. Thirty of them have professorship or associate professorship.