The Faculty of Economic started initially as the Department of Economics and Agricultural Cooperative in Faculty of Agricultural Business in 1980. At that time, the department offered only the Bachelor of Economic program in Cooperative Economics. Since 20 March 2005, the department has promoted as Faculty of Economics.

The Faculty of Economics was established upon the approval of the University Council during its meeting (2/2548) on March 20, 2007. It offers 4 degree programs at the bachelor level (Economics, Agricultural Economics, Cooperative Economics and Environmental Economics) and 2 degree programs at an equivalent bachelor level (Cooperatives and Business Economics); 2 degree programs at the masters level (Agricultural Economics and Cooperative Economics) and 2 part-time masters degree programs (Agricultural Economics and Cooperative Economics – Bangkok Mobile Programs). At present, the Faculty of Economics is undergoing the quality assurance for education and management system for internal control based on regulations by the committee for financial assessment which has laid out the standards for internal control (2001).