In order to implement Decisions No. AC-172 (dated 31 May 2020) and No. AC-173 (dated 14 September 2020) of the UNEC Academic Council, the former Faculty of Technology and Design was dissolved, and on 19 October 2020, the Faculty of Digital Economics was established on its basis. On 9 October 2020, the Department of Digital Technologies and Applied Informatics was created within the faculty.
The Faculty of Digital Economics and its department maintain close academic cooperation with leading universities and institutions of the Republic of Azerbaijan and abroad, including the Institute of Control Systems of ANAS, the Institute of Information Technology of ANAS, and the High Technologies Park; as well as Prague Business School (Czech Republic), the University of Dunaújváros (Hungary), Mykolas Romeris University and Vilnius Gediminas Technical University (Lithuania), Aligarh Muslim University (India), and Karadeniz Technical University (KTÜ, Turkiye).
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In the 2025/2026 academic year, 405 students were admitted to the faculty; 212 of them scored more than 600 points, and 60 were international students. The highest score in the university was 676.2. At the Faculty of Digital Economy, three majors (Information Technology, Information Security, and Computer Engineering) are taught in English.