The Department of Economics, Loyola College (Autonomous) Chennai, India, is one of the first three Departments along with Mathematics and History started in 1925 with 75 students on the rolls in the under graduate courses.
Rev. Fr. Basnach, S.J. was the first Head of the Department of Economics, who held office from 1925 till 1963. Under the guidance of Rev. Fr. Basnach, the Department expanded and flourished well and a three year B.A (Honors) programme was started in 1929. All important events at the national and international scenario became the subject matter for discussion during his time at the Department level and students really made use of his tenure to progress well both professionally and personally.
Rev. Fr. A. Devasia, S.J., took over as the Head of the Department of Economics in the year 1963. His initiative to groom the students of his time was some very special, which enabled the students to pursue their carrier predominantly in the field of civil services is worth mentioning. The Autonomous status which was conferred to the Loyola College in 1978 enabled the Department to frame a unique curriculum for the courses it offered to Undergraduate. The Postgraduate level was in perfect harmony with both the old and the new schools of thought.