The Faculty of Economics and Business was initially established in Banda Aceh. In 1961, Universitas Sumatera Utara opened the Faculty of Economics, which was located in Medan. The establishment was formalized through the Decree of the Minister of Higher Education of the Republic of Indonesia No. 64/1961 dated November 24, 1961. In 1975, the Medan Academy of Business Administration (AAN) was transferred to the Corporate Administration Education Program (PPAP) based on the Decree of the Minister of Education and Culture of the Republic of Indonesia No. 42/U/1975 dated March 13, 1975. Subsequently, based on the Rector’s Decree of Universitas Sumatera Utara No. 309/UN5.1.R/SK/KPM/2014 dated February 19, 2014, the name “Faculty of Economics” was changed to the “Faculty of Economics and Business (FEB USU).” In relation to reforms implemented in higher education through the Director General of Higher Education Decrees No. 23/Dikti/Kep/1987 and No. 26/Dikti/Kep/1987, as well as the Rector’s Decree of Universitas Sumatera Utara No. 568/PTO5.H/SK/Q87 dated August 19, 1987, a formal handover took place on September 14, 1987, from the Director of the Corporate Administration Education Program (PAP USU) to the Dean of the Faculty of Economics at Universitas Sumatera Utara. Following this handover, the name “Corporate Administration Expert Education Program (PAAP USU)” was changed to the Diploma III Program of the Faculty of Economics at Universitas Sumatera Utara.