It was established in 1947, but its name was economic business college. In 1963 it was splitted into two colleges, the college business and college economic political sciences. These aforementioned sections became departments in 1987. The aim of this college is to prepare specialists in the fields of administration and economy to occupy related positions in the state and private sectors. It consisted of five departments (Economics,Statistic,Business Administration,Public Administration, Industrial Management, and Accounting).