The School of Economics (SEC) takes pride in being the forerunner of the University of Asia and the Pacific, as well as being one of the pioneers of economics education in the country. 

Founded by two of the country’s foremost economists Bernardo M. Villegas and Jesus P. Estanislao in 1967 as the Center for Research and Communication (CRC), the School of Economics filled  the need for effective economic research applied to policy making and private sector business strategy. CRC started its Master’s degree program in Industrial Economics in 1969. In 1974, to help senior executives steer their company to greater productivity and social responsibility, CRC began its Strategic Business Education Program (SBEP), one of the first executive programs in the Philippines. In 1979, to answer the need for stronger economic skills for mid-level managers and young professionals, CRC began offering a professional master’s degree through its Applied Business Economics Program (ABEP). 

In 1995, the University of Asia and the Pacific was born. The School of Economics began offering an undergraduate program in economics, while CRC remained as a non-stock, non-profit research and consultancy arm of UA&P. In 2019, SEC began offering a PhD in Business Economics. To date, the School of Economics offers the following: bachelor’s degree in Business Economics, a master’s of science degree in Industrial Economics, a professional degree in Applied Business Economics, and PhD in Business Economics (PhDBE). 
Graduates of the School of Economics have worked and gained prominence in various capacities in government, multinational agencies, and private companies both here and abroad.