The department of Economics, one of the oldest departments of the college was established in the year 1917. The degree classes in Economics were introduced in the college in 1920 and the B.A. Honours course in Economics was started in the year 1925. In 1937, Economics was introduced as a compulsory subject for intermediate course. Till the establishment of Karnatak University in 1949, Post Graduate classes in Economics were conducted in the college itself. Later on, under the scheme of exchange of teachers between the Post Graduate and the college departments, some of our teachers taught P.G. classes Prof. G. B. Jathar, Prof. S. G. Beri, Prof. S. K. Muranjan, Dr. C. D. Deshpande, Dr. S. G. Panandikar, Prof. M. P. Argikar, Dr. B. R. Dhekney, Dr. V. V. Borkar etc. were the distinguished faculty who served the department before 1960. Dr. V.K.R.V. Rao, the Ex-Director of Delhi School of Economics and Ex-Minister of Education, Government of India, was also on the rolls of the department for some time during 1930’s.

The eminent professors who served in the department between 1960 and 1985were Dr. M. C. Kodli, Dr. N. S. Hiremath, Prof. Y. L. Inamdar, Prof. S. G. Gambhir, Prof. R. L. Umrani, Dr. A. A. Adhoni, Dr. V. S. Angadi, Dr. P. M. Honakeri etc. Dr. B. B. Kanavi and Prof. C. S. Kaddipudi served the department from 1958 to 1989. Dr. B. B. Kanavi was also the Principal of the college for 17 years. Prof. C. S. Kaddipudi was elevated to the position of Registrar (Evaluation), Karnatak University, Dharwad during 1988-89.

Dr. N. G. Chachadi joined the department in 1974 he served as Principal between 2005 and 2009. He was also a Research Guide under whose guidance 10 research students have been awarded Ph.D. Degrees.
Dr. V. Sharada and Dr. Honnappa S. joined the department in 1985 and 1989 respectively. Presently both of them are Associate Professors and Research Guides.