The year 1953 saw the formation of the department of Economics. Prof. V.J. Mathai, A.O Joseph, Dr. A.T. Devasia, P.T.Cyriac, N.J. Devasia and E.S. Joseph were the great visionaries who shaped the destiny of this department. This department is proud of its alumni like Sri Madhavan Namboothiri, Jose J. Naduthotty, C.K. Gopalakrishnan Nair and Sri Augustine Peter who pursued their careers in splendour. The PG Programme was started in 1967.The department has conducted many economic surveys giving importance for the farming communities of rural areas, for studying the economic conditions of the society.