
“मनुष्याणां वृत्तिः अर्थः, मनुष्यवती भूमिरित्यर्थः। तस्याः पृथिव्याः लाभपालनोपायः शास्त्रम् अर्थशास्त्रम् इति।” Meaning: Human life or livelihood is ‘Artha’. The earth inhabited by human beings is considered wealth/Artha. The science that explains the methods of acquiring and protecting such earth is known as Economics. Dr. Panjabrao Deshmukh, (1930) the Education and Agriculture Minister of the Central Provinces and Berar State and the first Agriculture Minister of independent India (1952-62), emphasized training in agriculture, the use of technology, education and research, dissemination of innovative experiments through demonstrations, and the development of tools, machines and new varieties for the sustainable development (SDG) of the nation. Remembering the thoughts of Chanakya and Dr. Panjabrao Deshmukh, the Arts faculty (B.A.) was started with Economics as a subject at Shri Shivaji Science College in 1971.
Shri Shivaji Science College was started at Chikhli in 1967 with the objective of providing quality education to the children of farmer and working-class families. The then Member of Parliament Dalit Mitra Pandharinath Patil, the then Member of Legislative Assembly Santoshrao Patil, Hon. R. D. Bhonde Sarkar and others took the initiative in establishing the college. In 1971, the B.A. course was started with 120 students. The Ph.D. programme was started from 2020, and the Postgraduate programme in Economics was started from 2023.From 1971 to 2009, Shri N. P. Mandlik taught Economics. After his retirement, Shri D. G. Kande was appointed on 15 June 2009. He worked as an Assistant Professor up to 21 April 2014. At present, Dr. Sunita M. Kalakhe is working as an Associate Professor in the Department of Economics and teaches Economics.
At present, in accordance with the National Education Policy (NEP), significant changes have been made in the curriculum and an Applied Economics course has been introduced. Students are encouraged to participate in university, state and national-level conferences, seminars and workshops related to Economics. Three students have been awarded Ph.D. degrees through the Economics Research Centre. At present, three students are pursuing Ph.D. research. It is a matter of pride that the research work of students from the Economics Research Centre has been selected for university-level and state-level research competitions.