The Department of Economics was started in the year 1968. Dr. Jaya Shankar who worked as Registrar, CIEFL and retired as Vice-Chancellor Kakatiya University worked in the Economics Department as a Lecturer.
Eminent persons like T. Lalitha, Prof. S. Kishan Rao of Osmania University, Principals Sri Raja Gopal Naidu and Sri Krishnamachary earlier worked as Lecturers in this Department. Sri K.G.R. Nageshwar Rao, Sri T.V.V. Satyanarayana, Sri M. Kishta Reddy, Sri K.T. Venkata Chary, Sri K. Jaya Rao Sri A.J.Mark and Sri M. Vara Prasad were other faculty members who served the Department across the years.
At present Sri P. Venkateshwar Rao is the incharge Department of Economics and Sri. J. Mallaiah are working.