The aim of the faculty is to train specialists for science, national economy, state administration, banking and financing institutions, providing competitive higher academic and professional education for Latvia and the EU labor market.
Since foundation of the higher education institution the number of students at the faculty has increased 6.2 times. Students come to study from all districts of Latvia. The faculty mostly trains specialists for Latgale region, taking into account the socio-economical situation and labor market requirements. The implemented study programs at the Faculty of Economics comply with Latgale region development plan and main guidelines of Latvia state development strategies aimed at promotion of development of economic sciences and research in Latvia regions.
Since November, 1999 the dean of the faculty is Iluta Arbidane. Strategic questions concerning the Faculty of Economics and Management are solved by the Faculty Council, where the elected representatives of students are actively involved as well.
Since 1999 the head of the Council was associated professor Vija Strazdina.
Since 2005 the head of the Council was professor Irēna Silineviča.