The Department of economics is one of the oldest scientific departments of the Libyan Academy, which was established in 1988 under the name of the Institute of Economic Studies and was then composed of the Departments of Economics, Management, and accounting. Since that time, the Department of Economics has continued to achieve the goals for which it was established, primarily the graduation of qualified cadres in the economic field with the necessary knowledge and skills at a level consistent with the needs of the labor market and society.

The department believes that the department should prepare a generation of graduates with high skills of economists that enable them to take responsibility for their country and maintain its gains in various economic fields, and that the Department of economics at the Academy of graduate studies should be the leading Department of the Libyan economy.

Work to promote the goals set by the Libyan Academy for higher studies to serve its goals and directions, and prepare cadres who combine different economic sciences to meet the needs of the local market. 

The Department of economics is one of the scientific departments at the school of administrative and financial sciences at the Academy, which works to achieve a number of goals that can be presented as follows:

1. Qualifying students and providing them with scientific and academic foundations to enable them to work in Libyan institutions, universities and higher institutes.
2. Developing the scientific, practical and research capabilities of students to keep abreast of technological developments and encourage the use of information technology, computers and the internet in various economic fields.
3. Meet the requirements of the labor market and society in general of specialists in the field of Economic Sciences.
4. Contribute to conducting scientific and Applied Studies and research in the field of Economics in an attempt to link the department with society and its various institutions.