In 1961, then Philippine College of Commerce (PCC) offered a
degree program BSC (Economics) under the Department of Economics and
General Business (DEGB). Four years after, the DEGB was reorganized
into the Department of Economics, Management and Finance
(DEMF) with Prof. Raymundo Garcia as head.
When PCC was reopened in 1972 after its closure due to worsening
student unrest, the BSC Economic program was placed under the
Department of Business and Cooperatives Education (DBCE) with Prof.
Mateo S. Esguerra as the chairman.
In 1975, economics was made into a distinct academic unit under
the Faculty of Economics (FE) under Prof. Elmer Abueg as the Dean.
Under this development, the curriculum for the Bachelor of Science
in Commerce (BSC), major in Economics, was modified and made into
Bachelor of Science in Applied Economics (BSAE). The move was
primarily intended to develop a strong theoretical and analytical
foundation among students, as well as expose them to applied policy
In 1977, the FE was renamed Faculty of Economics and Finance as a
new program, Bachelor in Banking and Finance, began to be offered.
The BSAE became Bachelor in Applied Economics with two options:
Business Economics and Development Planning. In the following year,
the FEF was renamed the Institute of Economics, Banking and Finance
In 1979, two new academic programs were offered, namely: Bachelor
in Applied Statistics (BAS) and Bachelor in Insurance (BI). The
thrust of the Institute at this time was curricular relevance to
manpower needs in business and government. Experts in government
were tapped as curriculum advisers in economics and statistics. They
included former Economic Planning Secretary and NEDA Director
General, Dr. Vicente Valdepe�as, and Bureau of Census and Statistics
(BSC) head, Dr. Marcelo Orense. In 1983, the IEBF was renamed into
the Institute of Economics, Finance and Statistics (IEFS).
In 1984, the IEFS briefly operated autonomously under the cluster
college system. However, in 1987, IEFS reverted to the old set-up
which gave emphasis on curriculum or course specialization. IEFS,
then was renamed as the College of Economics and Politics (CEP) with
Prof. Zosimo O.L. Villa as the Dean. Curricular emphasis was on the
strengthening of faculty and student research.
In 1987, the curricula for all these academic programs were
ladderized to provide certificate of completion of a two or
three-year program to qualify students for threshold jobs in their
fields of specialization.
In 1990, the academic thrusts of the CEP were geared towards
producing real specialists in the fields of economics, politics and
finance. The curriculum was revised to include the streamlining of
major courses and the selective inclusion of general education and
cognate subjects. BITM was abandoned as a separate academic program;
while BAE was renamed into Bachelor of Science in Economics (BSE).
International Economics, as well as Business Economics, were made
major degrees under BSE. Prof. Hector R. R. Villanueva became the
new CEFP Dean until 1995.
In 1994, minor revisions were made on the curricula of the CEP.
These consisted in the renaming of some courses and the
repositioning of some subjects, Bachelor of Arts in Political
Science (ABPS) was renamed into Bachelor in Political Science (BPS);
Bachelor of Arts in Political Economy (ABPE) became Bachelor of
Science in Political Economy (BSPE); and Bachelor in Banking and
Finance (BBF) was changed to Bachelor of Science in Banking and
In 1997, under the administration of Dean Ronan, the CEP was
renamed into what it is now known � the College of Economics,
Finance and Politics (CEFP). This move was aimed primarily at
highlighting the course offering on finance as a specialized
program. Bachelor in Finance was renamed into
Bachelor in Banking and Finance (BBF). All curricula were revised to
conform with the new developments in each field of specialization.
The ladder-type of curricular system was abandoned to give way to
the straight four-year degree program.
On November 28, 1997, all academic programs of the CEFP were
formally accredited by the Accrediting Agency of Chartered Colleges
and University of the Philippines (AACCUP). Consequently, the
college was granted a first level accreditation status. On 29
February 2000, CEFP was awarded the level II accreditation
certificate by the AACCUP.
On January 4, 2000, Dr. Roman R. Dannug assumed the Deanship of
the CEFP. During this term, Dr. Dannug aims to transform CEFP into a
premier institution with the following thrusts: I.T. and
Entrepreneurship-based curricular offering, Entrepreneurial
leadership styles, Political technocracy approaches,
Student-centered service culture and Research-based instruction.
At present, the CEFP has two (2) Ninoy Aquino Professorial Chairs
under the sponsorship of the Philippine National Bank � one in
Political Economy and the other in Banking and Finance. Previous
holders of these Professorial Chairs were newspaper columnists,
Prof. Antonio Gatmaitan and the past Budget Secretary, Dr. Guillermo
N. Carague. The latter chair was held by former Dean of the CEFP and
Press Secretary of the Philippines, Prof. Hector R. R. Villanueva.
Trade and Industry Secretary, Manuel A. Roxas, held the
Professorial Chair in Political Economy from 1998-2001. Last to held
this Chair was Dr. Roman R. Dannug in 2006.
On August 20-22, 2003, the AACCUP conducted the First Resurvey
Visit Towards III Level Accreditation of the CEFP curricular
offerings. CEFP achieved one of the highest ratings in the
On February 1, 2006, Dr. Melly L.Paraiso became the new CEFP