Economics is very useful for the producer. It guides him to how he should combine the four factors of production and minimize the cost of production. The consumer can adjust his expenditure of various goods in better way if he knows the principles of economics. He will spend his income according the law of Equi-Marginal utility in order to get maximum satisfaction.
It helps in removing the poverty from the country. Under developed countries are facing many problems like unemployment, over population, low per capita income and low production. Economics is very useful in solving these problems. Finance minister prepares the yearly budget of the country. Economics guides him that how he should frame the tax policy and monetary policy. In the modern age the importance of economic planning cannot be ignored. It guides the workers that how they can get maximum wages from the employer. In the third world countries there is a lot of wastage of resources which is the main cause of their poverty. The study of economic development will enable them to make the optimum use of their resources. A businessman can easily understand the trade policies of various countries. the trade policies of various countries.
To make the students responsible citizen of the country and create well known economists.
The basic thrust still remains on using the available resources efficiently while giving the maximum satisfaction or welfare to the people on a sustainable basis.
The Department of Economics is established in the year 1997. The college started the subject as an optional subject at the under graduate level. The department is one of the active departments of our college. The department provides valuable knowledge to students. Department inspires students for various jobs and prepares them for competitive examination. Department organizes seminars and publishes wall papers entitled ‘Economic Literacy’. Dr. R.K.Raut is working as the Head of the Department from 06th NOV. 1998 .
|S. No.||Name of the Teacher||Qualification||Designation||Biodata|
|1||Dr. R. K. Raut||M.A.B.Ed., M.Phil., SET, Ph.D.||
Associate Professor & Head Of Dept.
1998 till this date
|2||Shri.Gardi B. S.||M.A.M.Phil, M.Com., B.Ed.||
2001 - till this date