Faculty of economics and management carries on the traditions of the economic faculty of 1930-1937. Then the university bore the name Leningrad institute of communal engineering and later Leningrad institute of communal construction engineers.

In its modern state the faculty was reestablished in 1999 due to the necessity in training specialists for the fast emerging industry in Russia. It consisted of the two chairs of graduation: one of the oldest is the chair of engineering economics, and a newly-formed chair of management. But higher education in economics and management is provided since 1994 (then there was only one chair of graduation - chair of engineering economics). Principal aim of economics and management is a reasonable distribution and efficient use of limited resources for the benefit of the society. Commercializing of Russia required new generation economists and managers able to adapt quickly, to analyze constantly changing economic and social environment, to predict possible effects of these changes and to make efficient managing and economic solutions, to plan production and commercial activity of their own companies, to assess efficiency of investments, to create a managing structure, to optimize production processes, to execute external economic activity and marketing investigations, to work with personnel.

There are 145 professors at the faculty specializing in economics, finance and credit, accounting and pricing, forming, tax assessment, engineering production management, common and functional management, information technologies in management and etc. 14 our professors have D.Sc. degrees and professor academic titles, 68 PhDs, associate professors, one corresponding member and one councilor of the state Russian academy of architecture and building sciences, three members of public academies. Nowadays we have 950 undergraduate students, 51 of whom are from abroad (15 students are from the CIS countries). Scientific research activity performed by the faculty of economics and management is aimed at studying efficiency of business management in modern conditions. This is possible due to regular various cooperation relations with the authorities of Saint Petersburg (in engineering, energetics and engineering support, urban land improvement and public road system, urban engineering and architecture), Department for state independent expertise, State architecture and engineering control of Saint Petersburg, Council of construction unions and organizations, engineering companies and city enterprises.