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The faculty was founded in 1999 with the objectives:
- to increase the research potential and to unite the resources of mathematical departments for better development of large educational and research projects;
- to optimize teaching in mathematical area;
- to provide conditions for mathematical schools development at ISTU and to solve in this way the problem of skilled personnel;
- to develop common concept of mathematical education at ISTU and to introduce the system approach.
At present there are over 500 students studying at the faculty. They are trained by 80 teachers, including 10 Doctors of Science. professors and 30 Candidates of Science, assistant professors. Among the teaching staff of the faculty are Honoured Research Workers and Honoured Workers of Higher Schools of the Udmurt Republic, members of various academies.
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