Innovation Economics and Cybernetics Department was established in August 2009 when the department of economic management was renamed, which was formed in July 2007 as a result of the School of Management section, which, consisted of leading chairs of economic and financial departments, which for 30 years have trained specialists in the field of economics management.  All specialities are of the IV-th level of accreditation.

The Department has a powerful scientific-pedagogical and logistical capacity to train professionals who know the methods of economics management, marketing, project management and labor resources.

More than 70 teachers work at the Department, among whom 15% have a doctorate degree, 67% of the staff are Ph.D. Most chairs are headed by Doctors of Science, leading experts in relevant fields. Specialists and scholars of the Department conduct research on such issues as intelligent systems and modeling technologies, forecasting and decision making in economic and environmental monitoring, computer and mathematical modeling of ecological-economic, medical, biological and technological processes and systems, nonlinear modeling in the social economic and ecological systems, management of regional education systems project management in transition economies, preparing a new generation of public servants in Ukraine formation use and development of managerial capacity, study of trends in the modern labor marketheoretical and methodological aspects of improving the effectiveness of marketing activities of enterprises .

Teachers and students do internships abroad, publish scientific articles in specialized editions, participate in joint projects with scientists from leading universities in Russia, Greece, Germany, Spain, France and Poland. The Department has postgraduate and doctoral courses. Best graduates that have received a degree, return to their native chairs as teachers.

Students of Innovation Economics and Cybernetics Department have the opportunity to be involved in art studios, participate in scientific schools meetings, to realize their organizational skills in the university organizations, to attend various sports sections. Annually is held the Scientific Conference of graduate students and young scientists "The Challenges of Globalization and Sustainable Development Model of the Economics”. Organic integration of learning with creative solutions allows representatives of the Department to win prizes in various student competitions almost each year.

The prospect of the Department development is connected with further implementation of the principle of free, creative education, improvement of existing bachelor's and opening new master's educational programs, enlarging international cooperation.