The Department of Economics originated with the Introduction of Economics major subject in 1965 with 43 students. Initially, late Prof. C. Devadhas was the Head of the Department of both History and Economics. In the year 1967, Prof. S. Sunder Singh was appointed, Head of the department of Economics. Since then the Department of Economics has been functioning as the separate Department of this college.
Initially there were 5 faculty members. When Commerce department was introduced in 1982, the faculty strength was increased to six.