The department of Economics at People’s College, Nanded was established in 1950, i.e. with the establishment of the college. It has a long and healthy legacy of teaching and research of sixty eight years. It has by far produced twenty Ph.D.s and 15 M.Phil.s. It, in 2006, conducted a survey on Farmer Suicides in Marathwada and submitted a report on it to the Union Government.

The department has also started a Post-Graduate, which has been alive and kicking. Initially, Dr. V.K. Pathak, Director, Indian Institute of Foreign Trade, New Delhi; Dr. Moresh Pathak, Director, Delhi Transportation Corporation and Dr. Shreeram Pedgaonkar successively headed the department Dr. V.G. Kadam also served it. Currently, Dr. V.V. Sukale heads it. Dr. V.V. Sukale has been a university recognized research supervisor and has successfully guided to eleven Ph.D. and 15 M.Phil. researchers so far. Dr.V.V. Sukale has been a member of the Board of Studies in Economics of Swami Ramanand Teerth Marathwada University, Nanded and also officiates in the same capacity at Rajarshi Shahu Mahavidyalaya (Autonomous), Latur.