Economics is the social science, which deals with behavior of human being. Economics is the most developed science among the social sciences; therefore, Paul Samuelson has referred it as 'Queen of Social Sciences'. The scope and importance of Economics is enhancing day by day, especially after Globalization of world economy. Economics is the key subject not only in the Commerce faculty and Management faculty but the scope of Economics is increasing in the service sector namely Banking and Finance, Capital Market, Insurance etc. Economics subject is emerging as inter-disciplinary subject in other fields like Engineering Economics in the field of Engineering, Economics of Education in the field of Education and Economics of Fisheries in the science of Fisheries etc. Our institution has realized the importance and scope of the subject of Economics since the establishment of the institution in 1965. Therefore, the Department of Economics was established in 1965. At the beginning economics has been taught at 3 units and later on 6 units as a principle major.

Our Staff

Mr. Dr. M. S. Chanda
Vice-Principal, Head of Department, Associate Professor,
NAAC Co-ordinator
: M.A. M.Phil. Ph.D.

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Mr. S. K. Namdas
Assistant Professor,
M.A. M.Phil. B.Ed., SET

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Mrs. A. N. Kelakar
Asst. Professor
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Dr. Mr. U. D. Suryavanshi
Assistant Professor,
M.A. M.Phil. Ph.D.

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  • To create interest in the subject of Economics among the students in the Arts and commerce faculty.
  • To make Economics subject more practical oriented through its application in Industries, Agriculture, Finance and Banking and other related areas.
  • To make students and public aware about national and international economic issues by inviting eminent economists to conduct Special session on the Union Budget and lectures on various topics.
  • To make students familiar with recent changes in the market and economy through Field visits and Study tours.
  • To inculcate research culture among the students.
  • To encourage and inspire the new faculty for research and update themselves.
  • To provide employment guidance and career opportunities by conducting campus interviews.


  • The Department of Economics has 6 units as a principal subject at the third year at the Arts faculty.
  • The students can offer Economics for three units and can offer any other subject for three units.
  • Economics is the compulsory paper for every year in the commerce faculty.
  • The department, besides these, accept the responsibility of other papers like Population Studies, Co-operation, Trade Union and Industrial Relations and Foundation Course as the inter-disciplinary papers at the First, Second and Third years of Arts and Commerce faculty.
  • The Department has selected only those papers at the third year faculty of Arts, from the various optional given by the University of Mumbai, which have practical and professional approach and proved to be very helpful for the students in their future for higher studies and job oriented point of view. For example;
  • The result of the department is good for all the years.
  • The Department organizes study tour for example our department had visited Shri Ambika Cement Pipe and Allied Products ltd. Pedhambe, Shinde Corporate BananaFarming Pedhambe, Warna Co-operative Society Warna Nagar, Vaikunth Mehta National Institute of Co- operation and Gokhale Institute of Politics and Economics Pune.
  • The department has a separate room with required infrastructure and departmental library.
  • The department has qualified and research oriented staff. Our faculty have completed their required Orientation and Refresher courses from time to time and attended maximum number of seminars and workshops.
  • Our faculty are in-house and out-house faculty for various professional courses like Bachelor of Management Studies (BMS), Master of Management Studies (MMS), Master of Business Administration (MBA) and M.Com.

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