Economics was taught in St. Thomas’ College right from the time it was recognised as a second grade college by Madras University in the year 1919. Chev. Joseph Pettah was the first lecturer and later the first professor of History and Economics at St. Thomas’ College. A full-fledged department which offered B.A. in Economics started in the year 1957. M.A. course in Economics was introduced in 1965. Since 2014, the department has been elevated to a Research Department under the University of Calicut offering Ph.D in Economics. Currently, we have two research guides, Dr. K.M. Francis (retd.) and Dr. Sabu P J and the research department has produced two Ph.Ds.
The Department aims at a holistic development of individuals with to bring about a harmonious relationship with people, society and nature. The department focuses on providing value based education which helps individuals to become mature and responsible citizens of the global community.
The curriculum offered by the department is in keeping with the latest developments in the field, catering to requirements of the industry as well as higher education prospects. Mathematical Economics, Banking: Theory and Practice, and Demography are the elective papers at the post-graduate level. The department offers Mathematical Tools for Economics as a complementary paper at the graduate level to equip students better for the industry where quantitative skills are considered crucial. With this advantage, the students of the Department have also been excelling in national level tests and securing admission in nationally reputed institutions. The latest programme organized by the department was a Webinar on “The XV Finance Commission & Horizontal Devolution: An Impact on State Finances” by Dr. Parma Chakraborty from Gulati Institute of Finance and Taxation on February 20, 2021. Webinars, day observations and invited talks are held as a part of the ‘Beacon’ and ‘Observe’ series of the Department.