Department of Economics is the first to have started degree in the college in July 1978. B.A. Economics course is offered with Indian History and Politics and Indian Constitution as Complementary programme. There after it shows a history of sustained growth with Post Graduate course MA Economics being introduced in December 1984. This department is one of the first departments in the University of Calicut to have introduced dissertation work as part of PG course as an optional paper, when the university granted permission for the same. Decennial celebrations of the Post Graduate department in 1995-6 was marked by National and state level seminars with eminent personalities participating as resource persons. They appreciated the efforts of the department that was rare in the mid nineties among Aided colleges in the state.
National seminars on Globalisation, Growth and Social Justice in India with the financial assistance of the MHRD and on Intellectual Property Rights in India: Problems and Prospects with the aid of the UGC also received wide acclaim. Many other seminars and workshops on Economic journalism, Financial Markets, tax reforms, decentralized Planning in Kerala , Development Paradoxes in India were conducted. Conducts discussion on National and State budgets every year. Department is conducting NET coaching classes for the PG students. Prof. Jose Pappu, who became Principal of the college was the first Head of the department.
Department has a full -fledged computer lab, and Diploma Course in Computer Application is being conducted for the students. Department has two books published: 1) Globalisation Growth and Social security 2) Intellectual property Rights in India: Problems and Prospects. Department publishes a news journal with the name 'Econewsmix' and the summary of the projects of the students as working paper. Fr. Antony Thattil Memorial endowment Lecture is conducted in memory of Rev.Fr. Antony Thattil every year.