The establishment of FEB, previously called the Faculty of Economics (FE), was initiated by the Governor of KDH NTB Province R. Ar. Moh. Ruslan Cakraningrat on November 17 1963 under the auspices of the Sangkareang Education Foundation. FE later became a new faculty after previously being formed by the Faculty of Law and Public Knowledge. Under the Sangkareang Education Foundation, FE first had 85 students. The Sangkareang Education Foundation then handed over the management of FE to the State (becoming a state university or PTN) on December 19 1963 under the name Mataram University. The inauguration of PTN Mataram University was carried out by the Minister of Higher Education and Science (PTIP) Prof. Dr. Ir. Toyib Hadiwijaya. FE was the only faculty managed by the University of Mataram until 1966. It was only on January 1 1967 that the University of Mataram had three faculties with the formation of the Faculty of Agriculture and the merger of the Sangkareang Faculty of Law and Community Knowledge to become the Faculty of Law (FH) of the University of Mataram.

The first FE lecture took place at Balai Kambang in the middle of the Mayura Park Cakranegara pond. Then in the second year, lectures took place in two places, first year students in the UNRAM building located in Karang Jangkong Cakranegara, while second year students’ lectures continued in Balai Kambang. With the completion of the construction of the FE campus building in 1969 on Jalan Pendidikan Mataram, all academic and administrative activities previously carried out in Karang Jangkong and Balai Kambang were moved to the new building.

During its development, FE received additional construction of a new campus building located at Jalan Majapahit 62 Mataram in 1997 and the construction was inaugurated by the Minister of Education and Culture at that time, Mr. Dr. Wardiman Djojonegoro. Since then, all administrative activities and academic services have been centralized in the new building. The physical area of ​​this building is around 3,500 m2 consisting of three floors. The number of rooms that can be used for teaching and learning process activities is 14 classes, while the others consist of four leadership element rooms, one room each for the IESP Department, Management Department and Accounting Department, one study area room, one room occupied by BP2EB (Badan Economic and Business Research and Development), three lecture rooms with a capacity of 15-30 people each, three computer laboratory rooms with a capacity of 20-30 people each, one main court room, four administrative service rooms, namely academic administration, administration finance and personnel, student administration and general administration and equipment under the coordination of the Head of Administration.

Currently, FE, which later changed its name to FEB[1], has shown positive development, both physically and in the number of study programs being developed. Until 2015, the number of study programs at FEB was recorded as nine study programs, including study programs at the Bachelor’s Degree (S1) level and postgraduate education at the Diploma Three (D III) level as well as the Master’s Degree (S2) Program.

The Level Three Diploma (D III) in Taxation and Diploma Three (D III) Accounting which were opened in accordance with the Chancellor’s Decree Number: 3831/J18.H/KH.01.11/1997, dated 6 May 1997 then received permission to implement it from the Director General of DIKTI with Decree Number : 146/DIKTI/Kep./2000, May 12 2000. Another program is the Diploma Three (D III) in Tourism which is held in accordance with the Decree. Director General of DIKTI Number: 2612/D/T/2001, dated 6 August 2001 with 3 concentrations including: Hotels and Restaurants (HR), Tourist Travel Business (UPW) and Tourism Business Development (BW). For the undergraduate level (S1) there is a Non-Regular Management Study Program which is organized based on the Decree of the Director General of DIKTI Number: 15/DIKTI/Kep/1997, dated 17 January 1997. Furthermore, at the undergraduate level (S2) a Masters in Management (MM) program is held. based on the Decree of the Director General of DIKTI Number: 153/DIKTI/Kep/1999, dated 19 April 1999, the Master of Accounting Program based on the Decree of the Director General of DIKTI Number 470/D/T/2009, dated 6 April 2009, and the Master of Economics Program which has received permission to administer based on Decree of the Director General of Higher Education Number: 1153/D/T/2009 dated 15 July 2009.