In its session of November 2010, EAFIT University´s Superior Council approved the University´s Development Plan and determined that as part of this Plan, additional Schools would be created. In this context an initiative began to unite the Departments of Economics and Finance in a separate School, with the goal of taking advantage of the synergies between them.
The project to unite the two departments began with a study of the characteristics of Schools of Economics and Finance in European universities to ensure that the new School would be part of the vanguard of the world´s Schools of Economics and Finance.
In October 2011 the proposal for the fifth School for EAFIT University was presented to the Superior Council. The Council approved the request and specified that the School should commence in 2012, with a mandate to create a Center of Research in Economics and Finance, to continue a strengthened undergraduate economics program, to continue its graduate programs in economics and finance, and to begin preparations for a Doctoral program in Economics and Finance.
The creation of this new School constitutes the University´s recognition of the high caliber of the undergraduate program in economics and the graduate program in finance and of their noteworthy positions regionally and nationally. The outstanding capability of the directors, professors, and researchers in the School has reinforced the ties between the School and the national institutions that determine public policy, the nation´s communications media, and other national and international authorities important for regional and national development.