The building of the Faculty of Economics at V. Karazin Kharkiv National University was constructed between 1916 and 1926 at Mironositska Street. It is an architectural monument.

Modern researchers believe that construction was originally begun for the 1st Higher Elementary School, based on a design by architect Serhii Tymoshenko, one of the “fathers” of the Ukrainian Art Nouveau style. This is clearly suggested by the hexagonal windows, which are characteristic of the style and of the architect in particular. Apparently, the building was not completed due to the devastation following World War I, and work on it resumed by the mid-1920s. The architect who completed the building based on a revised design, now incorporating elements of Constructivism, was Pavel Kushnarev.

From 1927, the People’s Commissariat of Labor was housed here. From 1943 until the early 1950s, the building housed the Kharkiv Regional Committee of the Communist Party of Ukraine, which was later replaced by one of the departments of the Kharkiv Regional Committee of the Leninist Communist Youth League and finally by the Faculty of Economics of V. N. Karazin Kharkiv National University.

The building was severely damaged by a Russian missile strike on March 2, 2022.