The Yangon Institute of Economics Library, as shown today had been set up as the Department of Economics, Commerce and Statistics and in 1958-1963, extended to the library of Social Science. In 1964, new education system with the development of the Revolutionary Government, this library came to be known as the Yangon Institute of Economics Library and on 1st April, 1958, Department of Economics, Commerce, and Statistics came under the Faculty of Social Science University of Yangon, where Professor Saw William Paw from the Department of Commerce had to take up the responsibility as Head of the Faculty of Social Science. Besides, it had been known that the Faculty of Social Science was established in 1954 and finished in 1956.5
Library of the Institute of Economics had its origin in 1951 established as the Economics Library of the Yangon University. In 1958 all the Departmental Libraries were combined together having the name Social Science and in 1964 with the development. New Education System, Department of History, Department of Psychology and Anthropology were transferred to Arts and Science University, Yangon and after that the Institute of Economics was founded as an Independent Tertiary Institution, comprising of three academic departments: Department of Economics, Department of Commerce and Department of Statistics. The library, formerly known as library of Social Science had been changed to “Library of the Institute of Economics” and still continued standing in the same place of Social Science library.
The Institute library has a number of depository or library programmes. It is a depository library respectively of the World Bank (since 1975) and World Fertility Survey, International Statistical Institute (since 1976). Most recently, in December 1994, it signed a Memorandum of Agreement with Depository library program for ADB publications.
For the first year and second year students of the Institute of Economics at Hlaing campus a branch library was opened in 1983. Now this library is used for certificate courses and Diploma courses for HRD are offered and in 1995 a library was set up at Department of Management (Padamya campus) where post-graduate courses in Business Administration and Management are offered and the Library was used by DMA, MBA and EMBA students. On 15th November of 2000, at Ywathagyi campus a new library was set up. Courses of the intermediate students (first year to third year levels), Honors and Master courses were given. Besides, in 2005 with the cooperation of Myanmar and Japan, to carry out the programs for the development of HRD, a centre was set up known as Myanmar Japan Centre for Human Resources Development (MJC) library was opened in Inya Road, Kamayut where teaching staff from Yangon Institute of Economics, students and also research from outsides were allowed to make use of the library. Now-a-days, it has been discovered that the library is opened in UMFCCI.
Myanmar-India Entrepreneurship Development Centre(MIEDC) was supported by Entrepreneurship Development Institute of India (EDII) was opened and the responsibility had been taken by Yangon Institute of Economics at Hlaing campus in Hlaing Township on 6th February, 2009 and the library was opened on that same day. The library had good collection of books concerning the subjects taught in management course for MIEDC classes were stocked.
Yangon Institute of Economics library, aimed at students and staff of the Institute of Economics to make use of it and main subjects taught in this Institute such as Economics, Commerce, Management, Business Administration were fully collected and also other subjects such as Social Science, Mathematics, History, Religion, Myanmar literature, Geography, English literature, Philosophy and books on annual statistics, Journals had been collected.