- Established in 1947.
- In 1981, the Department brought under Faculty of Arts
- In 1994, the Department became part of Faculty Of Social Sciences
- In 1998, Management Programme merged with Department of Economics and Department renamed as: Department of Economics & Management
- In 2006, the Department of Management separated and it further renamed as Department of Economics
- In 2009, the Integrated Course Post Graduate Diploma in Business Economics - M.A (Applied Economics) - M.Phil. was introduced.