Economics as a branch of social science has its own advantages and disadvantages. Disadvantage is that the student of Economics throughout life will be thinking in terms of Cost-Profit-Benefit Analysis of a particular situation. But there are advantages which cannot be counted at one go. Economics is not only about demand and supply and prices. As Joseph Stiglitz says “Economics is everywhere”. With the growing competition and changes in the way business (no matter small or big) is done, study of principles of Economics and application of those principles to real world situation has become the prerequisite for most of the economic activities. As always, there remains a close link between economics and politics. In India, there are lots of issues such as poverty, malnutrition, unemployment, rich-poor gap, rural- urban gap, volatile stock market, misuse of social welfare program funds and many others which have kept politicians and students of economics puzzled and engaged. Policy makers often blame politicians for any development programme not working appropriately or governance failure. On the other hand common people, businessman and politicians blame policy makers and each other for the growing uncertainties in the market. Whatever, be the case economic principles remains the foundation for all economic decision makers in the real world. Therefore the University is offering the courses in economics to train the students with the theoretical foundations of economic theories as well as application tools to the vast areas of Business, Finance, Management, societal problems and Research in economics.