The Department was started in the year 1959 with Prof. K. Subrahmanyam Naidu as the first Head of the Department. The Department is one of the few University Departments in India, offering specialized courses in Agricultural Economics and Cooperation at Post-Graduate level. It won recognition for its research work in Agricultural Economics and Cooperation. The Department was sanctioned Special Assistance Programme (SAP) by the UGC, which it shares with the Department of Economics. The National Bank for Agriculture and Rural Development (NABARD), Mumbai instituted a Chair in the Department in 1994 itself to undertake research projects on its behalf, which have a policy-bearing on the national economy.

                  The Department specializes in fields like Rural Development, Cooperation, Urban Economics, Regional Economics, International Trade in Agricultural Commodities, Poverty Alleviation Programmes, etc.

                The faculty of the Department have brought laurels to the Department by winning Best Teacher Awards by the State Government thrice and Best Thesis Awards by the University five times.

                Two of the former teachers of the Department received UNO’s assignments at Bangkok and Rome and was a Consultant on International Trade for the Planning Commission, Government of the India for four years.

                The academic talent of the faculty has received recognition from various organizations like FAO, IDPAD, IRRI, ICSSR, Planning Commission,UGC, NABARD etc.