The aim is to scientifically evaluate the efficiency of scientific research and innovation in China's finance and economics colleges, which is helpfull to optimize the resource allocation of such universities, and improved their input-output efficiency in the context of cooperation and competition. Combining game theory and a generalized fuzzy DEA model, 41 finance and economics colleges in China are taken as the research object. Then, based on studying the overall scientific research and innovation interval efficiency, the different colleges are clustered according to their scale condition, and the efficiency changes before and after cooperation and competition between universities are analyzed, which comes to find the optimal, potential, and invalid partners and competitors. As a consequence, the issue of cooperation and competition strategy in comparable universities, is discussed,which would provide theoretical basis and reasonable suggestions for them splendidly.