The Department of Economics was started with the establishment of the college in 1961 to impart education at UG level first and later the PG course was introduced in1969. The founder Principal of the college, Late Mr. M.V. Kaoundinya was the founder head of the department. From it inception itself, the department has relentlessly strived for excellence in terms of facilities, number of the students opting for the course, university results, participation of faculties & students in various socio-economic & curricular activities. Recently as per guidelines of NEP, the department is conducting outreach and extension activities such as Field Survey and Projects, Research Project, Community Engagement Programmes, Study Tour, On Job Training, Internship Programmes which is benefitting the students in enriching there theoretical and practical knowledge of the subject. The department has been successfully engaged in providing excellent human resources to various sectors. There are seven faculties who holds Ph.D. degree along with other desired qualification in the department who are actively engaged in imparting the knowledge in the subject of Economics to more than 1000 students.

Further, from June 2020, the department has started its Research Centre where candidates are pursuing their Ph.D. degree under the guidance of Prof. Dr. G. K. Sanap, Dr. B. N. Shingade, Dr. K. D. Jadhav and Dr. P. J. Phalphale. To add to the glorious tradition of the department, 14 students of the department qualified SET/NET exam recently and 04 student awarded Ph.D. Degree. The department has an enriched departmental library along with a great number of books at the central library. As a part of academic curriculum, we successfully organized state, national & international seminars/conferences.

Awards & Recognition received by the Department & its faculty

• Consolation prize in Effective Implementation of 5 ‘S’ in 2012.
• Third prize of Late shree Omkarnath Malpani Award in Effective implementation of 10 ‘S’ in 2018.
• “The Best Department Award” in Principal M.V. Kaundinya Student Rsearch Project Competion continuously for the academic year 2017-18, 2018-19, 2019-20, 2023-24 & 2024-25.
• Best Teacher Award of the College to Dr. N.S. Sabale, Dr. G.K. Sanap, Dr. K.D. Jadhav & Dr. P.J. Phalphale & Inspiration Award of the college in January 2020 Dr. G.R. Jaitmal.
• Best Programme Officer for District, University & State Level, Best Teacher Acharya Vinoba Bhave Award in 2012 and Sai Ratna Award for social-work in 2013 to Dr.P.J. Phalphale.
• Prof. M.S. Bhave Award for the best research paper in Arthsanvad in 2014 to Dr. N.S. Sabale.
• Gold Medal Award in T.Y.B.A. University Exam in 2013 to Mr. Deepak Laxman Sabale.
• Mr. Akhilesh Vasant Walve admitted in London School of Economics for M.Sc. in Economics from 2025-26.
• Mr. Suraj Kale completed his P.G. in Economics from Kathiyawad University, Rajasthan (2025-26).
• Mr. Vaishnav Korade has participated in Khelo India Yoga Sport event. (2023-24)

Courses run by the department