In 1944, the Department of Political Economy was established within the Central Asian State University. To the department in 1944-1949 i. f. d., Professor Aminov Olim Mominovich, in 1949-1959 i. f. n., associate professor Stolyarov D. D., in 1959-1963 i. f. n., docent Tarasyuk I. A. led. In 1964, the department was divided into two, namely the Department of Political Economy of the Humanities Faculties and the Department of Political Economy of the Natural Faculties.
    The Department of Economic Theory was established in 1968 under the name of the Department of Political Economy within the Faculty of History. In 1968-1974, this department was attended by professor, prof. Ibragimov Alikhan Ibragimovich, Ph.D. in 1975, Assoc. Led by Kasimov Narimon Azizovich. In 1975, this department joined the Department of Political Economy of the Humanities Faculties, and in 1975-1988, this department was joined by prof. Fedor Stepanovich Natochiev was the director.
    In 1979, the Faculty of Philosophy and Economics was established, and a separate Department of Political Economy was formed within it. To this department in 1979-1990 i. f. d. , prof. Rasulov Mukhtar Rasulovich was in charge. In 1991, the Faculty of Economics was established, and the Department of Economic Theory began to function within it. To this department in 1991-1992 i. f. d. , prof. Zaynutdinov Sayfutdin Mukhiddinovich, in 1993-1996 i. f. d. , prof. Abduganiev Abduvahid Abduganievich, in 1997-2002 i. f. n. , Assoc. Hoshimov Pazliddin Zuhurovich, in 2003 i. f. n. , Assoc. Tolametova Zilola Abdujabborovna, in 2004 i. f. d, prof. Khamraev Odil Khamzaevich, in 2005 i. f. d. , prof. Karimov Rakhmonkul Karimovich, in 2005-2012 i. f. n. , Assoc. Umarov Kamal Yusupovich, in 2013-2015 i. f. d. Shodmonov Erkin Sherkulovich was the director. From 2015 to the present, the department i. f. n. , prof. Muminov Nozim Gaffarovich is leading.
    Since the establishment of the Department of Economic Theory, our country has been preparing teachers of economic sciences and highly qualified personnel for various fields and sectors of the economy.
    The department of economic theory is a department that prepares bachelors in the field of 60310100-Economics (by sectors and industries) and masters in the specialty of 70310102 Economics (by sectors and industries).
    Professors and teachers, doctoral students, independent researchers, masters and talented students of the Department of Economic Theory are conducting scientific research work based on fundamental and practical grants of the Ministry of Innovative Development of the Republic of Uzbekistan.