The department was established in 1920 with a view to impart course work for the undergraduate students. In the year 1970, postgraduate programme leading to M.Sc. (Ag.) in agricultural economics was started under the leadership of Dr. A. D. Wycliffe. Course work programme for Ph.D. was
started in the year 2001. Postgraduate programme in agri-business management was started in 2001. The mission of the department is to equip students with requisite attitude, knowledge and skills for managerial decision making and implementation in the unique context of agricultural enterprises, including entrepreneurial career.