The birth of the department of Analytical and Applied Economics took place in the name of Department of Rural Economics and Sociology in the year 1956 with an initial grant from the Ford Foundation. The department started functioning from the Burdwan House located at Cuttack. As Post-Graduate teaching facility in economics was available in Ravenshaw College, Cuttack, it was intended to be developed as a research centre. It also offered training facilities in social science research methodology and prepared candidates for the doctorate degree of the University in Economics and Sociology. In 1960, one year Diploma course in social science research methodology was introduced along with the shift of the University campus from Burdwan House, Cuttack, to the present location at Vani Vihar, Bhubaneswar. The Post Graduate teaching in Analytical and Applied Economics was introduced in the department in 1963 for which we proudly celebrated the Golden Jubilee in 2014. Latter on the name was changed to the Department of Analytical and Applied Economics.In recognition of the significant contributions made by this department in the field of economics research, the University Grants Commission (UGC), New Delhi selected the department as a Centre for Teacher-Fellowship Program in Economics in the year 1977, as a Department of Special Assistance (DSA) in the year 1989, ASIHSS grant awardees in 2006 and has been upgraded to Center of Advanced Study (CAS) in Economics from 2010-11 academic session. The academic and research contribution of the department was also recognized by the State Bank of India and it instituted a Chair in Rural Economics in 1981, by creating an Endowment of Rupees six lakhs and it functioned till 2000. The Reserve Bank of India (RBI) also instituted a Chair in Institutional Finance in 1982 which is now functioning. As a leading teaching and research center in India, the department holds seminars, conferences, discussions and interactive sessions regularly in the areas of social sector economics, rural economics, environmental economics, agricultural economics et cetera.
To emerge as a centre of excellence in Economics education with focus on innovative teaching, research, and extension activities for building a creative, enlightened and productive society.
Taking economics beyond classroom, inculcating problem solving skills and sensitiveness among student for rational decision making To create and disseminate knowledge in economics through interdisciplinary research and creative inquiry in developing a dynamic, just and sustainable society To be proactive and sensitive in economic policy designing through consultancy, extension activities and intervention efforts
- To groom the students for their all round development
- To part a mix of theoretical knowledge and applied skills.
- To undertake research in economics of social sector, environmental economics and financial economics
- To engage with agencies of governance as a think-tank for economic policy making, evaluation and review