The Department of Agricultural Economics came into being during 1964. During the year 1967, the Mathematics and Statistics component was brought under the control of the Department of Agricultural Economics and the department was re-designated as the Department of Agricultural Economics and Statistics. In 1978 the Department of Statistics was de-linked from the Department of Agricultural Economics when a separate Department of Statistics and Mathematics was established. PG program was initiated in the Department during 1984 and doctoral program in 2009.
The Department offers 5 courses for undergraduates, Ten courses to M.Sc (Ag) students and eight courses to Ph.D. students.
The teachers of the Department have published two textbooks on ‘Agricultural Finance and Management and Agricultural Economics’ by Oxford IBH publishers, which are being referred by the students of all Agricultural universities in the country. The teachers also brought out practical manuals for UG courses on ‘Agricultural Marketing, Finance, and Cooperation’ and ‘Agribusiness Management and Agricultural marketing.
The thrust areas of PG research relate to areas of farm management, livestock economics, project evaluation, optimal use of water resource, agricultural marketing, international trade & price forecasting, etc. Staff research addresses the issues pertaining to agro-industries, resource economics, credit, agricultural marketing, etc. The teachers of the Department have published about 158 research papers in various journals of repute.
The teachers of the department are associated with village adoption program of the college.
University-funded Agricultural Market Intelligence center to provide price forecasts on major crops to provide price forecasts on major crops to the farmers is in operation in the Department since 2014.