The Department of Economics,started in the year 1937, is one of the oldest departments of St.Teresa’s College. The Department offers both an Undergraduate and Postgraduate course in Economics and also offers Add on Course on Diploma in Financial Journalism. While economics as a subsidiary subject for History main was started long back in 1927, the Bachelors programme with economics main was started in 1937and masters programme in 1995. In 2010, the Department was elevated as a Research Centre of the Mahatma Gandhi University, Kottayam. The faculty consists of eight members six of whom have doctorate degrees and one faculty pursuing the same. The Department has bagged National Award , State Award and Chief Minister’s Award for innovations for the Project e-Jaalakam.
The department has around 225 students pursuing various courses and has produced good results and several ranks at the university level. Students play a prominent role and take the lead in organising many innovative, interdisciplinary action events/projects. Students are encouraged to learn beyond classroom through yearly budget analysis, stock exchange visit, participation in Grama Sabhas (Decentralised Planning Process of Local Governments) etc. A platform for hands on training in the form of internships in various institutions help students to apply their theoretical knowledge and prepare them to face challenges of job market. Volunteers also gain hands on experience in managing various facets of a social entrepreneurship unit- STEP ( Society of Teresians for Environment Protection) which include purchase of raw materials, inventory management, quality control, sales and marketing etc.