Department of Economics with a pre-independence origin has been instrumental in retaining women in higher education. The department runs B.A., M.A. and Ph.D. programs. The curriculum of the programs is highly innovative with an emphasis on experiential learning through experiment-based projects, teaching practicum, simulation exercises, data-based assignments, workshops and internships. The curriculum is updated regularly to integrate emerging trends in disciplinary knowledge. Some of the recent additions are Behavioral Economics, Economics of Environment, Economics of Health and Evidence based policy analysis.

The major thrust areas of research are Gender Economics, International Trade and Investment, Macroeconomics and Development Economics. The faculty members work on UGC and ICSSR sponsored research projects particularly related to Indian economic problems. The faculty has adequate representation in conferences, seminars and workshops and has several publications in the form of research papers and books.

The department has benefitted from the visits of eminent economists such as Dr. Manmohan Singh, Prof. Arvind Panagariya and Dr. Bibek Debroy. The department also organizes a lecture in memory of Prof. P. N. Mathur, an eminent social scientist (especially an economist), founding member and Vice-president of the Vidyapith. Eminent economists including Prof. V. R. Panchmukhi, Prof. A. M. Khusro, Prof. B. B. Bhattacharya, Shri Ashok Thakur, and Prof. Ramesh Chand have delivered the memorial lectures.

The department also organizes activities such as debates and quizzes under its academic fest ‘Pragati'. Alumni of the department are interning and working at prestigious institutions such as NITI Aayog, Indian Institute of Foreign Trade, NABARD, SIDBI, National Institute of Public Finance and Policy, SBI, Institute of Economic Growth, Accenture, Ernst & Young, and ICICI, among others.