In 1946 Wilfred Prest was appointed to a new chair of Economics (Truby Williams) and the department was incorporated into the renamed Faculty of Economics and Commerce.
The diploma in Commerce was phased out from 1947 and a four year Honours degree available from 1948. John A. La Nauze was appointed foundation professor of Economic History in 1949 and A. Alex. Fitzgerald took up the new chair of Accounting named for G.L. Wood in 1954, and R.I. Downing in 1954 became Ritchie Research Professor of Economics.
F.P. Donovan took up a new chair in Commercial Law in 1952 (Business Law from 1986). The new subject of Industrial Relations, introduced in 1944, was combined with Elementary Jurisprudence and Constitutional Law to become a full department in 1955.
The Faculty moved to the new Commerce building in 1963, though shortage of funds meant the main Lecture (Copland) Theatre was not opened until 1966.
The Western extension to this building opened in 1974. A second chair of Economics was established in 1961 and a chair of Econometrics in 1975. A second chair of Accounting named for Fitzgerald was created in 1977.