The College of Economics and Management (CEM) was formally created in the 996th UP-BOR Meeting, February 1987. However, the college traces its roots from the Institute of Agricultural Development and Administration (IADA) in 1975, with three Departments - Agricultural Economics, Economics, and Management, and later, from the College of Development Economics and Management which merged IADA with the Agricultural Credit and Cooperative Studies and the Agrarian Reform Institute in 1978.

At present, CEM is composed of three departments - the Department of Agricultural Economics (DAE), the Department of Economics (DE) and the Department of Agribusiness Management (DAM) (previous website). Also affiliated with the college is the Agribusiness Center for Entrepreneurs (ACE).

The College sees itself as a center of excellence in undergraduate and graduate instruction, research and extension in economics, agricultural and applied economics, and agribusiness management in Asia. It envisions to be an institution of higher learning that can serve as an active catalyst for economic and social transformation.

Its two-fold mission is to produce graduates and future leaders with strong training in economics, agricultural and applied economics, and in agribusiness management for the challenges of economic growth and development under a competitive global setting; and to engage in development-oriented research, policy advocacy and extension services that would promote efficiency, equity, competitiveness and environmental sustainability of economic activities.