The department was established within the departments of the Faculty of Arts in 1965. Then he was transferred to the College of Administration and Economics when it was established in (1971-1972), where (50) batch of bachelor's degree holders graduated from economic sciences. Either postgraduate study opened in the academic year (1982-1983), where (6) students were accepted in the first batch to study a master's degree in the department, and to study a doctorate in the academic year (1986-1987) has been accepted (2) in the first batch. The study of the higher diploma was introduced – Energy Economics for the current academic year (2012-2013), and admission plan (20) students. First batch. In the academic year (2014-2015), three branches were opened, the student specializes in studying from the third stage:

1. General Economics Branch

2. Strategic Planning Branch

3. Oil Economics Branch

4. Transport Branch for the academic year (2016/2017)