To perpetuate the memory of Dr. John Matthai, Finance Minister of India during 1948 – 50, the University established the Department of Economics in 1976 at Thrissur District on 18 acres of land donated by the family of Dr. John Matthai. The Department started functioning under the leadership of a well known economist, Prof. M.A.Oommen. Over the years, the Department has grown into a prestigious centre for higher studies in economics with a strong orientation in research. A large number of students have made their mark as well-versed economists and came to occupy top positions in international and national institutions. The Department faculty have undertaken and completed many research projects sponsored by UGC, UNDP, ICSSR, Planning Commission, Ministry of Environment, Government of India, Various Commodity Boards and a host of NGOs. The faculty members have publications in international and national journals and they also act as consultants for different organizations.