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The Economics Department is one of the first three departments of the college started in 1925. The first Head of the Department was Rev. Fr. Basenach, S.J., who held that office from 1925 till 1963. All important events in the national and the international economics became the subject matter for the seminars in his time. Rev. Fr. A. Devasia, S.J., the man to succeed him in 1963, took great pains to organise intercollegiate lectures. Many of the present day eminent bureaucrats had their collegiate training during the time when he occupied the position of the Head of the Department of Economics. Prof. T.D. Felix who succeeded him in 1981, was a quiet thinker and a clear exponent of the various economic theories. It was during his time the M. Phil. Programme got started, both as a regular course and as a Summer Crash Programme.