Period 1974 – 1986: 11/1974, the Ministry of Higher and Secondary School decided to establish Faculty of Political Economy under University of Hanoi management. The early days of establishment, the Faculty faced numerous difficulties, especially in workforce, conditions of physical facilities for teaching and learning. However under the leadership of enthusiastic Deans, who have rich experience in management and high scientific reputation; with young, enthusiastic and solidarity staffs and Students, who are carefully selected according to the provisions of Central Board of Science and Education and University of Hanoi, are engrossed in learning and training; Faculty of Political Economy, University of Hanoi became a leading educational and research center in political economics of Vietnam. confirming the position of the Faculty in the system of higher education, set solid foundations for the development of the Faculty in the next stage.

Ten early years of Innovation (1986-1995): Faculty of Political Economy, University of Hanoi grown and firmly asserted it’s position in society. During 21 years of operation, Faculty created many positive and practical contributions to the development and the glorious tradition of the University of Hanoi.

1995 - 2007 was the period that the Faculty has the comprehensive and profound renovations. Characteristic of this stage is the process of innovation and diversifying forms of training. Scientific research activities and international corporation was a top priority. At the same time the Faculty has the specialization, go deep in training for staffs and experts researching domestic and international political economy.

On 6th March 2007, The University of Economics and Business was established in accordance with Decision No. 290/QD-TTg by the Prime Minister of the Socialist Republic of Vietnam. Faculty of Economics Political, which established in a long time ago and was the predecessor of university, has confirmed it's position.

From 2007 to present, Faculty of Political Economy has grown with many new subjects are gotten into curriculum. For nearly 40 years, the Faculty of Political Economy has trained thousands of bachelor, master, doctoral for country. Faculty of Political Economy has become the leading educational institutions in the country on Political Economy.

From 2007 to now, Faculty is more and more developmental with new subjects have been being taught. Over 40 years, Faculty of Political Economy have been training thousands of bachelors, masters, Ph.Ds. for Viet Nam. Faculty of Political Economy became the best training facility for political economics in Viet Nam.

Faculty of Political Economy has strength in providing learners with basic knowledge, systems and update management economic problems, political economy of Vietnam and the world.

Period 2012 – 2013, Faculty trained about 1000 economic management postgraduate students who are holding leadership positions in provinces throughout the country such as Hanoi, Ho Chi Minh City, Ninh Binh, Ha Nam and Vinh Phuc, Phu Tho, Nghe An, Ha Tinh, Quang Binh, Ha Giang, Hai Duong, Vung Tau, ... In the future, Faculty of Political Economy is going to strive to become the prestige training and research facility in both domestic and foreign.