The Faculty of Economics and Business of Universitas Pembangunan Nasional “Veteran” Yogyakarta (FEB UPNVY) is located at Jl. Padjadjaran, Condongcatur, Depok District, Sleman Regency, Special Region of Yogyakarta (55283). The faculty buildings are situated on the western side, directly behind the Auditorium, and consist of the Dean’s Office building, the Accounting Study Program building, the Economics Study Program building, and the Management Study Program building.

The establishment of FEB UPNVY dates back to 1959 under the name Department of Business Leadership, which was one of three departments within the National Development Academy (APN) “Veteran.” APN “Veteran” was a government-affiliated higher education institution under the Junior Minister for Veterans Affairs of the Republic of Indonesia. The department was established based on the Decree of the Junior Minister for Veterans Affairs No. 157/Kpts/1959 dated October 26, 1959, with the first lectures commencing on November 26, 1959.

On July 30, 1965, based on a joint decree of the Junior Minister for Veterans Affairs and Demobilization and the Minister of Higher Education and Science No. 140/Kpts/1965, APN “Veteran” was upgraded to National Development University (PTPN) “Veteran” Yogyakarta. At the same time, the Department of Business Leadership was elevated to the Faculty of Economics with the Department of Business Management.

On November 30, 1977, through the Decree of the Minister of Defense and Security of the Republic of Indonesia No. Skep/1555/XI/1977, PTPN “Veteran” Yogyakarta was officially transformed into Universitas Pembangunan Nasional (UPN) “Veteran” Yogyakarta. At that time, the Faculty of Economics still had only one department, namely the Department of Business Management.

Further development occurred on February 27, 1993, based on the Decree of the Minister of Defense and Security No. Kep/01/II/1993, when the Faculty of Economics expanded by opening two new departments: the Department of Development Economics and the Department of Accounting, in addition to the Department of Management. Academic activities for these new departments began on September 6, 1993.

On April 1, 1995, UPN “Veteran” Yogyakarta, along with all its faculties and departments, changed its status from a government-affiliated higher education institution (PTK) to a private university (PTS). This transition was formalized through a joint decree between the Minister of Education and Culture and the Minister of Defense and Security dated November 29, 1994, No. 0307/0/1994/Kep/10/XI/1994.

As of October 6, 2014, UPN “Veteran” Yogyakarta was officially designated as a state university (PTN) based on Presidential Regulation No. 121 of 2014. Furthermore, through the Regulation of the Minister of Research, Technology, and Higher Education of the Republic of Indonesia No. 39 of 2015, the Faculty of Economics was officially renamed the Faculty of Economics and Business (FEB).

As of 2025, FEB UPN “Veteran” Yogyakarta manages three undergraduate (Bachelor’s) programs and three graduate (Master’s) programs, namely the Master’s Program in Management, the Master’s Program in Economics, and the Master’s Program in Accounting.