[3] During the 1970s new programs were added including applied mathematics (1974), social science (1975) and a Master of Business Administration (1974).

During the last decade the academic offer was increased by the establishment of business engineering (2004), financial management and mechatronics (2010).

During its first four years the ITAM was originally located in a house in Mexico City's centro in 518 La Palma street.

It is a major feeder for Latin American candidates into top international graduate programs, and has played an important role in the economic liberalization process that the Mexican Government started in the mid 1980s; in the last 20 years most of Mexico's Secretaries and Deputy Secretaries of Finance have been either ITAM professors or alumni.

With the formal change of the major in 1991, the program was adapted to modern American political science, and thus incorporated important tools like mathematics, economics and statistics.

This is largely due to the number of students and full-time faculty with PhDs from other leading universities such as Harvard, Stanford, Columbia, Duke, Chicago, Michigan, Princeton, UCLA, UCSD, and Yale.

[8][9] Many of its undergraduate students are recruited in the best universities in the United States and Europe and others are employed in the federal and local governments and political parties.

[10] Both BSc programs it maintains have been hugely successful in providing high level technical skills to its students, which often obtain graduate degrees abroad in Math, Finance, Economics, Statistics and Operations Research.

This department provides the bulk of the teaching for the core courses at ITAM: History, Ideas and Socio-Political Institutions, and Problems of the Current Society.

In 2005 ITAM Business School became the first in Mexico to hold simultaneous accreditation of its programs by the Association to Advance Collegiate Schools of Business (AACSB) of the United States, the Association of MBAs of the United Kingdom and the European Quality Improvement System (EQUIS).