The Department of Economics at CMP Degree College, Prayagraj, is a close-knit community made up of dynamic student bodies and accomplished, profoundly dedicated teaching personnel. The department was established in 1956–57 with the undergraduate program (B.A.). The classes were started initially on the campus of K.P. Inter College, Prayagraj, with the strength of a single digit. The first faculty member and head of the department was Dr. C. B. L. Srivastava. Later on, Dr. Santosh Kumar Srivastava, Prof. S. N. Lal, Prof. Amrendra Kumar Singh, and Prof. Manmohan Krishna also flourished in this prestigious department.
At present, the Department of Economics at CMP Degree College has the largest number of students among all the constituent colleges of the University of Allahabad. The department offered undergraduate (B.A.) and postgraduate (M.A.) programs. The Postgraduate Programme (M.A.) was started in 2018-19 to meet the requirements of scholars in the field of economics. The department also offers the Ph.D. Program (D.Phil.) by the year 2022–23 under excellent supervision, which focuses on quality and dynamic research. The department at present has eight faculty positions, of which six are currently in place, consisting of one associate professor and five assistant professors. The Department provides a solid foundation in economic theory and quantitative skills for economic analysis in the undergraduate and postgraduate curriculum. The faculty members of the department have a unique attitude in which they always endeavor to walk alongside the students as co-learners on the path of knowledge building. The department's ongoing focus on helping students comprehend economic concepts within a multidisciplinary framework has greatly inspired students to follow their goals while keeping a people-centered mindset. In addition, students are continuously exposed to a variety of talks, lectures, seminars, conferences, contests, and group discussions.

Thrust Areas
The Department of Economics at CMP Degree College, Prayagraj, draws strength from a dynamic teaching-learning process where faculty members feel privileged to work with eager young scholars as they embark on an enriching and fulfilling lifelong learning experience. This process helps the department in its ongoing endeavor to harmonize excellence with inclusivity and equity. The Department of Economics has taken the initiative to actively involve students in a variety of activities that promote critical thinking and the creation of practical solutions to development-related problems. The department persisted in carrying out a variety of initiatives to innovatively enhance the teaching-learning process, including guest lectures, research workshops, and seminars.