The establishment of the Faculty of Economics – Prilep in the education system of the Republic of Macedonia, the first stage of its development, began in 1960 with the establishment of the Specialised School of Accounting. Between 1976 and 1977 with the organisational restructure of the Ss. Cyril and Methodius University – Skopje, the Faculty of Economics – Prilep is integrated with the Institute of Economics and the Faculty of Economics – Skopje in one unit, Faculty of Economic Sciences, as part of the complex University Centre of Social Sciences – Skopje.
Since the foundation of the new University in Bitola, in 1979 the Faculty separated from the Ss. Cyril and Methodius University – Skopje and became a full member of the newly established University.
The new education paradigm of the Faculty is based on increasing the quality of studying, encouraging the creative potentials of the students, discovering the knowledge and experience, motivating, social interaction, assessing the changes, respecting the new ideas and creativity. The essential orientation today is mainly towards: preparing the students for successful involvement in the economic movements in the country and abroad; organising and adapting the study programmes towards the needs of the economy, the international business and the globalization processes; integration of the international dimensions in the scientific activities; school and out-of-school learning; modernising the teaching methodology and providing conditions for quality education which guarantee international accreditation of the institution.