The Department was established in 1932. The UG Course of B. A. Economics was started in the same year. Rev.Fr. Bonhoure S.J., Rev.Fr.S.Mudiappar, Rev.Fr. X.M.Adaikalam, Rev.Fr.J.Adhisayam, Prof. V.Thiyagarajan, Prof.P.C.R Peter (Well known as Paradesi Peter) had served the Department with full commitment and dedication. After 17 years of dedicated service, Prof. P. C. R. Peter resigned the service in 1944 and went to serve to God the Almighty. Prof. Bonaventure de Mel was appointed in his place in 1944. Rev.Fr. K.A.Soosai S.J. joined the Dept. in 1946. After a short break, he came back in 1951. Rev. Fr. Mudiappar S.J. left the college after two decades of noble service. Rev. Fr. Rayappar S. J. became the head of the Dept. and served as Rector for 4 years. He left the College in 1951. Rev. Fr. Soosai S. J. joined in the Department and became the Principal in 1952.
Prof.V.Thyagarajan, after 30 long years of devoted service, he retired from service in 1953. His place was filled by Rev. Fr. X. M. Adaikalam S.J. later, He left for Loyola College Madras in 1957. With the introduction of PUC in 1956 Rev. Fr. J. Puttenkalam S.J. and Rev. Fr. S. Rajanayagam S.J. joined the Dept. In 1957 and they left the college in 1958 and 1960 respectively. Mr. Vincent Gabriel B.A. (Hons) was promoted as lecturer in 1957 however, he passed away in 1960. Mr.R.Arockiasamy B.A. (Hons) and Rev.Fr.V.T. George S.J. joined the Dept. when Rev.Fr.K.A. Soosai S.J. left the college. Rev. Fr. Oswald Mathias,S.J. became the Head of the Dept. The following year Mr. David Michael retired after 34 years of devoted service. Prof. Bonaventure De Mel left the institution in 1963 after 19 years of dedicated service. Rev. Fr.Oswald Mathias,S.J. served the institution as Vice Principal also. He left for Loyola College, Chennai in 1966.
In 1966 Rev. Fr. Rajanayagam S.J. became the Head of the Dept as well Principal of the college and he introduced the Tamil medium at the PUC and Degree levels and started a special B.A. Economics course. Prof.M.S. Arockiasamy joined the dept. in 1968.
In 1986 Prof.C.Michael Pro became the Head of the Dept. Prof.R.Arockiasamy, Prof.M.S.Arockiasamy, Prof.P.Muthusamy and Prof.Maria Francis Xavier were the other faculties of Dept. of Economics till 1993. Prof. R. Arockiasamy and Prof. Maria Francis Xavier retired from their services in 1994. Rev. Fr. Rajarathinam S.J. and Mr. P. Devaraju joined the Dept. In 1996 Prof.C.Michael Pro retired after his 34 years of service and Prof.M.S.Arockiasamy retired after his 28 years of service. Prof.P.Muthusamy became the Head of the Dept. Mr. S.V.L. Michael joined the dept. in 1998.
Prof. Muthusamy retired after 33 years of service in 1999 and in the same year Rev. Fr.Rajarathinam,S.J. became the head of the Dept. In the same year Dr.J.Amalanathan joined the department. Dr.Thaarcis Albin joined the department in the year 2000. In 2001 Rev. Fr. Rajarathinam, S.J., became Head of the Department, Dr.P.Devaraju, Dr. S.V.L. Michael, Dr.J.Amalanathan, Dr. Thaarcis Albin and Rev.Fr.G. Arockiaraj S.J, were other staff members of the Department till 2004. When Rev. Fr. Rajarathinam, moved to St. Joseph’s College Trichy, as the Principal of the College in 2005-06. Rev. Fr. Leonard S.J. became the Head of the Dept in the same year and Girl students were admitted into the U.G Economics in the Department since 2005-2006 onwards.
Dr. P. Devaraju became the head of the dept. in 2006-07. Rev. Fr. Alphonse Manickam S.J. joined in the Dept as a History faculty in 2007-08. In the same year he became the Principal of the college. In the year 2011 M.A. Economics was started. In 2011-12 Dr. S.V.L. Michael became the head of the dept. Mr. D. Antonysamy and Dr. S. Alphonsa (History) were appointed in the dept in the regular vacancies in 2015-16. Later, Dr. J. Amalanathan was the Head of the Dept. for one academic year of 2016-17. After one year of his service as head of the Department, Dr. Thaarcis Albin became the head of the Dept. in 2017-18 and Dr. S.V.L. Michael retired from the service after 20 years of service in the year of 2017-18. The Department was also recognized as the PG and Research Department of Economics in 2018. Dr. S.Sasikumar was newly appointed in the Dept. in 2018-19 in the place of Dr. S.V.L Michael. Dr. J. Amalanathan retired from services in the year of 2022-23 after 22 years of his service.
At present, Dr. S.Sasikumar is the Head of the Department in charge since 2021-22 and Dr. P. Devaraju, Dr. Thaarcis Albin Mr. D. Antonysamy, and Dr. S. Alphonsa (History) are serving in aided stream and Dr. D. Golda Grace Duraisingh (Coordinator, Shift-II) Mr. R. Saravanakumar and Dr. P.Shenbagaraj are serving in self-financing stream in the Department and Nine Research scholars are pursuing the Ph.D Research programme in the Department.