The paper evaluates research and teaching efficiency at faculties of economics in the public higher education institutions in the Czech Republic. Evaluation is provided in two periods between the years 2006-2010 and 2007-2011. For this evaluation the Data Envelopment Analysis and Index approach are used. Data Envelopment Analysis measures research efficiency according to weighted inputs (average wages of academic staff, number of academic staff, and average number of students) to weighted output (RIV points). Teaching efficiency is measured according to weighted output (average number of absolvents). Index approach compares changes between productivity measured in two different ways (RIV points per academic staff, number of students per academic staff) and changes between average wages adjusted of average inflation rate. Although we evaluate research and teaching efficiency with different approaches, some similiraties can be found. Therefore, the detailed comparison of the results is provided. For the analysis we use data from the Ministry of Education, Youth and Sports (MŠMT) and from the Research, Development and Innovation Council (RVVI).