The paper attempts to justify the need for training future engineers’ organizational and economic competence. The availability of such skills will enable engineers to get involved in creating innovative economy model in Russia. The authors provide the domestic experts’ arguments in favor of implementation of ideas discussed in the given article, review the historical experience of our country in training engineers-economists, and give examples of dealing with these issues in foreign countries. Basing on the analysis of the situation at the engineering and economic faculties in some domestic universities the authors concluded that the faculties did not perform their main task. In conclusion, the article puts forward possible ideas to create conditions for training future engineers’ organizational and economic competence.