Devised to be a source of knowledge, skills and competences in the field of economics and arising from consideration of current and future needs of Central Serbia’s social and economic life, the Faculty of Economics in Kragujevac was established in 1960 as a department of the Faculty of Economics, University of Belgrade. On December 16th 1975, after fifteen years of intensive development, the Faculty grew into an independent institution. Since May 21st 1975 the Faculty of Economics has been, along with eleven other faculties, a constituent part of the University of Kragujevac. The first postgraduate studies were established in academic year 1977/1978. According to the Decree of Accreditation and Quality Assurance Commission of Higher Education Institutions from January 30th 2009, the Faculty of Economics, University of Kragujevac has been given the Certificate of accreditation of the institution and study programs for all three cycles of studies.