KIMEP was founded in 1992 by the decree of the first President of the Republic of Kazakhstan Nazarbayev. The Institute is located in the southeastern part of Alma-Ata on the territory of the former higher party school of the Central Committee of the Communist Party of Kazakhstan. KIMEP is one of the first universities that appeared on the territory of the former Soviet Union. The first executive director of the institute, Nazarbayev, appointed his former adviser on economic issues, Pan Chanyeon. In 1992, the first programs were opened – “Master of Business Administration” and “Master of Arts in Economics”, and in 1993, the application for the program “Master of Public Administration” was opened. The first graduation, consisting of 81 students in the Master of Business Administration and Master of Arts in Economics programs, took place in 1994.