The department provides teaching of basic economic disciplines for students of all specialties of the Institute of Economics, political scientists and historians, as well as develops knowledge and professional skills of students of the educational program 292 "International Economic Relations".

The educational process is provided by 4 Doctors of Economic Sciences (professors), 3 Candidates of Economic Sciences (associate professors) and 1 assistant. Teaching is carried out mainly on the basis of own textbooks and manuals, which take into account the achievements of modern economic science and practical experience of the faculty.

The department is a powerful research centre that conducts research in the field of methodology of modern economic science and history of economic thought, studies the interaction of the state and the market, problems of socio-economic, technical and technological, and sustainable development of countries of the world.

The Department's lecturers participate in the certification of scientific personnel: they supervise the research of postgraduate and doctoral students, serve as official opponents, and are members of the Specialised Scientific Council for Dissertations and the Expert Council of the Ministry of Education and Science of Ukraine. Nataliia Stukalo and Maryna Lytvyn are members of the National Agency for Higher Education Quality Assurance (NAQA), where they work to improve the quality of Ukrainian higher education.

The Department operates the Sustainability Resource Centre.