In 1974 the Faculty of Economics and Organization of Construction was created at the university in order to prepare competent, highly qualified economists for the construction complex of the Moscow Region with a great complex of knowledge of the economic profile, as well as good engineering and construction training background. The first recruitment for the qualification of an engineer-economist of 50 people was carried out by the first Dean (Director) of the Faculty A.K. Schreiber. Since a qualified economist in construction should be well-aware of the specific features of the industry, the curriculum also provided for a sufficiently deep study of the block of engineering disciplines, which allowed graduates to have ample opportunities when choosing a job. The Faculty had constant contacts with the Complex of Perspective development of the city of Moscow, with a large number of construction and design organizations with various forms of ownership, banks, firms, etc. in order to take into account the requirements for graduates as much as possible.
In 1986, the Faculty began training students in the specialty "Computer-aided Design Systems," the Department of the same name was formed.
Since 1999, the Faculty has been training students in the following specialties: Economics and Management at the Enterprise; Management; Expertise and Real Estate Management; Automated Control Systems; Computer-aided Design Systems. Well-performing students were sent to study and to undergo internship to foreign universities, after graduation they continued their studies in graduate school.
In 1976 - 2007, a graduate of the graduate school, D. Sc. Economics, Professor Inessa G. Lukmanova was the Dean of the Faculty. She made special contribution to the development of the Institute. In 2007, after the reorganization of the Faculty into an Institute, I.G. Lukmanova was the Director of the Institute until 2010.
In 2011 – 2020 several Directors headed the Institute: Yuriy O. Bakrunov (2011 – 2012), Evgeniy A. Tolmachev (2012 – 2014), Dmitriy A. Semernin (2014 - 2017), and Olga N. Kuzina (20117 – 2020).
At present, the Chairman of the Academic Council of the Institute is its Director A.K. Orlov, Associate Professor of Economics and Management in Construction Vadim S. Kankhva is the Deputy Chairman, Deputy Director of the Institute Svetlana M. Borozdina is the Secretary of the Academic Council.
Candidate of Economics, Associate Professor Aleksandr K. Orlov Alexander is the Director of the Institute. Graduated from MGSU in 2001 with a degree in Economics and Management at the Enterprise (in construction).A.K. Orlov has been working at MGSU since 2003. His research interests include real estate development, implementation of investment and construction megaprojects, creation and development of infrastructure of tourist clusters, management of investment and construction projects.
Today the Institute of Economics, Management and Communication in Construction and Real Estate consists of 7 Departments.