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The history of the Faculty started with the establishment of the Department of Economics within the Faculty of Arts, University of Malaya in 1959. The Faculty of Economics and Administration (FEA) was founded in May 1966 to meet the nation's growing demand for a professional workforce. Beginning with just 14 students and three academic personnel, headed by Royal Professor Ungku Aziz, FEA has evolved into a flourishing academic community of 1109 students, and 67 academic staff, among them professors and lecturers with international reputation in their respective fields.
Drawing the strength of four departments; Economics, Administrative Studies and Politics, Development Studies and Applied Statistics, FEA currently offers the Bachelor of Economics degree, and four programmes at the postgraduate level, Master of Economics, Master of Public Administration, Master of Applied Statistics and Doctor of Philosophy. Of the 1109 students, 761 are enrolled in the undergraduate programme while the rest are postgraduate students, including 53 international students from various countries such as South Korea, Gambia, Indonesia, Iran, China, Nigeria, Vietnam, Pakistan, Myanmar, Tanzania, Palestin and Sri Lanka.
The FEA also administers the Population Studies Unit (PSU) that was set up in 1979 as part of the Population and Family Health Project funded by the World Bank and the United Nations Fund for Population Activities. Research and training on population related issues are conducted under the auspices of the PSU.
The FEA is intensively engaged in enhancing academic excellence in the field of monetary and financial economics through the Tun Ismail Chair, established in August 2000. As of 31st October 2006, there have been three distinguished holders of the Chair, Professor Ronald Mc Kinnon, Professor Dr. Yilmaz Akyuz and Dato' Seri Panglima Andrew L.T. Sheng. Professor Dr. Takatoshi Ito is the current chair holder of Tun Ismail Ali Chair.
In November 2006, the Royal Professor Ungku Aziz Chair was established to honour the contributions of Royal Professor Ungku Aziz in the fields of education and economic development. In conjunction with the establishment of the Chair, the Centre for Poverty and Development Studies was set up at the Faculty to serve as a focal point for academic work, research, consultancy and technical assistance in areas related to poverty and development.
In upholding it's research stance, the FEA collaborates wth the Malaysian Economic Association in the publication of an international journal, the Malaysian Journal of Economic Studies.
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