In 2002, the RAU established a specialized research group named “Physical Foundations of Nano- and Optoelectronics” focusing on semiconductor nanophysics and nanoelectronics, which laid the groundwork for the creation of the Physics and Technology Faculty. The group was led by academician Eduard Ghazaryan. In a short time, the like-minded team managed to organize all necessary activities to start admitting students to the Physics and Technology Faculty. They set up educational laboratories for student practical work, attracted highly qualified faculty members, and established core departments at the Institute of Physical Research of the National Academy of Sciences, as well as the Yerevan Scientific-Research Institute of Communication. The presence of core departments was a fundamental aspect of the creation of the Physics and Technology Faculty at RAU.

Initially, two specialist training directions were chosen: Electronics and Microelectronics, and Telecommunications. The first student intake took place in 2003.

A distinctive feature of the specialist training at the Physics and Technology Faculty was the integration of academic science and technology. On one hand, students study subjects such as mathematical physics equations, complex analysis, quantum mechanics, quantum theory of solids, and nanophysics. On the other hand, they learn about semiconductor device physics, photovoltaic semiconductor energy converters, radiative recombination, and basics of electronic component technology. This approach ensures that graduates are well-rounded specialists capable of working both in pure science and high-tech companies in Armenia.

The first Dean of the Physics and Technology Faculty was Professor S.G. Petrosyan. In 2008, Professor A.A. Sarkisyan became the Dean of the faculty. In 2012, the Physics and Technology Faculty became part of the Institute of Mathematics and High Technologies (IMHT) at RAU. Academician E.M. Ghazaryan was appointed Director of IMHT.

In 2018, IMHT was restructured into three institutes: the Engineering and Physics Institute, the Institute of Mathematics and Informatics, and the Institute of Biomedicine and Pharmacy. Professor A.A. Sarkisyan became the Director of the Engineering and Physics Institute.
As of January 2024, the organizational structure of the EPI has been optimized:
The EPI consists of three departments:
- Department of General Physics of Quantum Nano-Structures
- Department of Microelectronic Circuits and Systems
- Core Department of Telecommunications

All departments of the EPI offer the following educational programs:

Bachelor’s Programs:
1. 11.03.02 Infocommunication Technologies and Systems (Russian sector, full-time)
2. 11.03.03 Design and Technology of Electronic Devices (Russian sector, full-time)
3. 11.03.04 Electronics and Nanoelectronics (Russian sector, full-time)
   - Profile: Quantum Informatics
   - Profile: Nanoelectronics
Master’s Programs:
1. 11.04.02 Wireless Communications and Sensors (Russian sector, full-time)
2. 11.04.03 Quantum and Optical Electronics (Russian sector, full-time)
3. Microelectronic Circuits and Systems (Russian sector, full-time)
4. 071301.05.7 Alternative Energy (Armenian sector, full-time)