The Department of Economics is established in the year 1997. With the aim the college started the subject as an optional subject at the under graduate level. The department is an active and energetic. The department provides valuable knowledge to students. Department inspires students for various jobs and prepares them for competitive examination. Department organizes seminar and publishes wall paper entitled ‘Economic Literacy’. This wallpaper deals with Basic concept and contemporary issues of Economics.  Dr. G. B. Gawande is working as the Head of  the Department from 11th August 1998 . He has Nineteen years experience of teaching at U.G. level. Dr. G. B. Gawande has passed MS-CIT in March 2004. Dr. G. B. Gawande completed Ph.D. from Dr.Babasaheb Ambedkar Marathawada University Aurangabad. His research topic entitled, The Study of Primary Agricultural Credit Co-operatives Societies in Aurangabad District: Since 1985 ” under the guidance of Professor Dr. R.S. Solunke. Department of Economics. Dr. Babasaheb Ambedkar Marathawada University Aurangabad.  ”

SCOPE OF ECONOMICS :  

   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. Given this, we can list some of the major branches of economics as under:

Micro Economics, Macro Economics, International Economics, Public finance, Development Economics, Health Economics, Environmental Economics, Rural Development, Statistical Methods,  Industrial Economics, Labour Economics, Agricultural Economics,History of Economic Thoughts,  Indian Economic Thoughts,  Mathematical Economics, Indian Economy, Demography,  Economatrics.

IMPORTANCE OF ECONOMICS :

Economics is very useful for the producer. It guides him that 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.

Dr. J. B. Gawande H.O.D. M.A, PhD in Economics