The Department of Economics was started in the year 1958. The Department offers both an Undergraduate and a Postgraduate programme in Economics and also offers a Certificate Course in Business Analyst Profession. The Bachelor’s programme was started in 1958 and the Master’s programme in 1982. In 2015, the Department was elevated as a Research Centre of Calicut University. The faculty consists of five members. The Department has around 225 students and has produced good results and several ranks at the university level. Students play a prominent role and take the lead in organising many innovative, interdisciplinary events and projects. The students are encouraged to learn beyond the classroom through Community Development Programmes, participation in Grama Sabhas (Decentralised Planning Process of Local Governments), yearly budget analysis, etc. A platform for internships in various institutions helps the students to apply their theoretical knowledge practically and to face the challenges of the job market. Under the auspices of Economics Association, meetings are arranged, in which eminent personalities address the students. The Department conducts workshops, seminars and discussions that act as a boon for the budding economists. The Department has been organizing remedial courses for the low proficiency learners to make up for lost opportunities and to quench their thirst for knowledge. The fast learners are given the opportunity to prepare for competitive examinations through special coaching classes and WWS Programme. The Department also organises UGC NET/JRF coaching for PG students. More than 20 students have cleared NET/JRF during the last five years and more than 10 students have secured university ranks over the years.
The department of Political Science is part of the Economics department as no separate degree or post graduate courses are offered by this department. The former faculty members of this department were Fr. Jose Chittilappilly CMI who was the Principal of the college from 1994-1998 and Sri. K.T. Jose.