The "Economics" department started its activity after the establishment of Tashkent Institute of Finance in 1991, and has undergone structural changes several times. In 2004, the department, which was originally called "Economic Theory", became the "General Economic Theory and Economic Pedagogy" department, and in 2009, according to the permission of the Ministry of Higher and Secondary Special Education of the Republic of Uzbekistan and the decision of the Institute Council, the department was divided into two independent departments, i.e. " "Economic theory" and "Economic pedagogy and psychology" departments. In 2019, in accordance with the decision of the Council of the Institute, the "Economic Theory" and "Business and Entrepreneurship" departments merged and a new "Economics" department was established. In 2022, according to the decision of the Council of the Institute, it was divided into "Economy" and "Economic Security" departments. Today, the head of the "Economics" department, candidate of economic sciences, professor H.S. Asatullayev.

The "Economics" department is one of the first departments of the Tashkent Institute of Finance. In 1991-1996, professor E. Egamov, professor T.T. Jumakulov-candidate of economics, doctor of economics in 1996-2000, professor T.T. Joraev-doctor of economics in 2000-2012, associate professor D.S. Djumanov-candidate of economic sciences in 2012-2017 worked as a head of the department. Since 2017 to now professor H.S. Asatullayev-candidate of economic sciences has been working as a head of the department.