The Department of Economics at the University of Alberta was established in 1964; a result of the split of the Department of Political Economy into the departments of Political Science and Economics.  In 1964 the total enrollment in Economics courses was 1,233.  In the 2007-08 calendar year the total enrollment was 8,190 in 81 courses.

The roots of the word 'Economics' originate with the Greek words “oikos” (household) and “nomos” (rules or laws). Greek philosophers such as Aristotle and Xenophon first observed the economic behavior of estates, which were the economic unit of analysis much like factories and firms are in today's economy. From the interactions of these units emerged systematic patterns of behavior that appeared to be laws or norms of behavior. Economics is a social science that attempts to explain such phenomena through the use of mathematical, logical, historical and philosophical analysis.

The Department is home to approximately 27 full-time faculty whose research activities cover a broad spectrum of topics, including: Resource Economics; Environmental Economics; Public Finance; International and Financial Market Economics; Applied Macroeconomics; Industrial Organization; Labour Economics; and Sports and Gaming Economics, just to name a few.