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In 1979-1982 the Department of Corporate Governance was also known as the Department of Business Education. Then in 1982 the names and terms of the existing faculties were adjusted nationally, FKIS changed to the Faculty of Social Sciences Education (FPIPS). One of the existing majors is the Business World Education Department (PDU). The PDU Department is a combination of two departments, namely General Economics and Business Education. Starting in 1984, the Department of Business World Education (PDU) has study programs, namely: (1) Diploma III and S1 Cooperative Education Study Programs; (2) Diploma III and S1 Accounting Education Study Program; (3) Business Education Study Program Diploma III and S1; (4) Office Administration Education Study Program Diploma III and S1; and (5) Diploma II and Diploma III Service Skills Education Study Programs. Since 1990 the Service Skills Education Study Program does not accept new students, so the PDU Department has only four study programs, namely: S1 Cooperative Economic Education (EKOP); S1 Accounting Economics Education (AKT); S1 Trade Education (TTN); and S1 Office Administration Education (ADP).

Since 1996 based on the Decree of the Director General of Higher Education Number 246 / DIKTI / Kep / 1996 dated 11 July 1996 the PDU department has changed to the Department of Economic Education. The Department of Economic Education has 4 concentrations, namely; Economic Education and Cooperatives (KOP) Concentration, Accounting Education Concentration (AKT), Business Administration Education Concentration (TTN) and Office Administration Education Concentration (ADP).

Based on the Presidential Decree of the Republic of Indonesia Number 93 of 1999 concerning the Change of the Teaching and Education Institute, IKIP MALANG changed to Malang State University with the abbreviation (UM). The Presidential Decree was followed up by the issuance of the Decree of the Director General of Higher Education, Ministry of Education and Culture of the Republic of Indonesia Number 206 / DIKTI / Kep / 1999 dated May 6, 1999, concerning the Implementation of the Management Education Undergraduate Study Program at FPIPS IKIP MALANG, namely the Management Study Program at the Bachelor level ( S1). Graduates from the study program hold an academic degree in Economics, abbreviated as the Decree of the Director General of Higher Education, Depdikbud RI, Number 336 / DIKTI / Kep / 1999 dated July 12, 1999, concerning the Implementation of the Non-Educational Study Program Diploma in Accounting and Marketing Management at FPIPS IKIP MALANG, a Study Program has been held. Non Education Accounting and Marketing Management for Diploma III (D-III) level. Graduates from this study program are given the title Professional Associate Expert, abbreviated as A.Md.

Changes in the Economic Education Study Program are based on the Decree of the Director General of Higher Education Number 1791 / D / T / 2005 dated May 25, 2005. Initially there were four concentrations in the study program, namely: Economic Education with a concentration on Cooperatives, Economic Education with a concentration on Commerce, Economic Education with a concentration on Office Administration, and Economics Education with a concentration in Accounting. On the basis of the decree, the four study programs were separated. So, at this time in FE UM there are four educational study programs, namely the Economic Education Study Program, the Commerce Education Study Program, the Office Administration Education Study Program, and the Accounting Education Study Program.

Furthermore, based on the Decree of the Director General of Higher Education Number: 4857 / D / T / 2004 dated December 30, 2004 dated December 30, 2004, FE UM was granted a permit to organize a non-educational Accounting Study Program for the Undergraduate level (S1). After a year later, based on the Decree of the Director General of Higher Education Number 3144 / D / T / 2005 dated 26 September 2005 FE UM was granted a permit to organize a non-educational Development Economics Study Program for the undergraduate level (S1). Graduates from the two study programs hold an academic degree in Economics, abbreviated as SE

The existence of FE UM is getting stronger with the Decree of the Minister of Education and Culture of the Republic of Indonesia dated 14 October 1999 concerning the Organization and Work Procedure of the State University of Malang (OTK UM), and the Decree of the Minister of National Education of the Republic of Indonesia Number 170 / U / 2000, dated 21 September 2000 regarding the Statute State University of Malang, where FE is one of the five faculties in UM with three majors: Management, Accounting, and Development Economics (Decree of the Director General of Higher Education Number 143 / DIKTI / Kep / 2000 dated May 12, 2000 regarding Types and Number of Departments in Faculty within UM Article 5).

To complement the organization, it has been appointed through the Rector's Decree, the Head of the Faculty of Economics consists of the Dean, Assistant Deans, Head of the Department and Secretary of the Department. The inauguration of the aforementioned faculty leadership has been carried out by the Rector of the State University of Malang on November 3, 2000, so that since then the organizational elements of the Faculty of Economics have been completed. Furthermore, based on the decision of the Senate meeting of the Faculty of Economics, UM, November 3, 2000 was designated as the anniversary of the Faculty of Economics, UM.

Following up on the Decree of the Director General of Higher Education, the UM Rector's Decree Number 2423 / Kep / PT28.H / U / 2000 was issued on August 16, 2000 concerning a list of faculties, departments and study programs in UM. Followed by the issuance of the Decree of the Director General of Higher Education Number: 4857 / D / T / 2004 concerning the implementation of the Accounting Study Program (S1) and the Decree of the Director General of Higher Education Number: 3144 / D / T / 2005 concerning the implementation of the Development Economic Study Program (S1).

Based on the Decree of the Minister of Education and Culture Number 270 / U / 1999 and Regulation of the Minister of Education and Culture Number 30 of 2012 concerning Organization and Work Procedure (OTK) of State University of Malang. The number and names of Study Programs within the Faculty of Economics for each department are as follows:

  1. Department of Management, manages study programs Management (S1), Marketing Management (D-III), Commerce Education (S1), and Office Administration Education (S1).

  2. Department of Accounting, manages the Accounting Study Program (S1), Accounting (D-III), and Accounting Education (S1).

  3. Department of Development Economics, manages study programs of Economics Education (S1) and Economics, Development Studies (S1), Economic Education (S2), and Economic Education (S3).

Subsequent developments in 2011 based on the letter of the Director General of Higher Education number 303 / E / O / 2011, dated 21 December 2011, the Faculty of Economics obtained the mandate to organize the Master of Business Education and Management study program, 2012 based on the letter of the Director General of Higher Education number 62 / E / O / 2012, dated March 1, 2012, obtained the mandate to organize the Master of Business Education and Management study program, and in 2014 based on the letter of the Director General of Higher Education obtained the mandate to organize the Master of Accounting study program and the Master of Economics study program.