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The origin of the Department of Economics, Lahore College for Women University, Lahore traced back to the year 1922 with the commencement of Intermediate level classes. Bachelor level classes were initiated in 1925. In 1966, Masters level classes were introduced as Master of Arts (M.A.) in Economics with the strength of only six teachers with late Mrs. Anwar ul Haq as Head of Department. There were only 23 students in the first batch. Master of Science (M.Sc.) in Economics was initiated in the Department in 1999. The BS-4 Year (Hons) program was offered by the department in 2005.Two years MS Economics (equivalent to M.Phil.) program has been commencing since 2009. In line with the LCWU Vision 2020 to open new avenues for female students, a new discipline of MS Econometrics (equivalent to M.Phil.) has been introduced in 2014. Department of Economics, LCWU, Lahore is the first educational institution that has introduced MS Econometrics as a separate discipline for the first time in Lahore, Punjab Pakistan. Currently Department of Economics has around 29 faculty members and more than 1500 students are getting benefit from them. The Department owns following three academic graduate and post graduate programs under the semester system:
•    BS Economics
•    MS Economics
•    MS Econometrics
The strength of different programs in the Department lies in core Economic Theory, Quantitative Techniques for Applied Economics and Econometrics. Economics is the study of how resources are effectively and more productively used. Economics is the game between ends and means. The students of economics learn to make decisions that are vital for the success of businesses, nonprofits organization, government agencies, households, and for society as a whole. The basic aim of the department is to familiarize students not only with the economic aspect of modern economy but also with the technique that help them in empirical analysis of current economic issues and to create ability in them to make judgments regarding public policy. The graduates of Economics Department have joined popular careers in business, banking sector, government and academic profession.

The Department is also focusing on moral building and personality development through various activities i.e., debates on current issue, seminars, conferences and workshops. The teachers at the department are eager to follow the teaching methods that consist of both theoretical and practical approach. Lectures, presentations, written assignments, quizzes, case studies and interactive class sessions are given due importance for professional development of the students.
The basic purpose of academic programs is to prepare the students as research economists. The department has also signed MOU for research and development with government agencies and various national and international universities. Salient feature of these MOU is to create research and cultural understanding of both institutions through:
•    Exchange of research staff
•    Collaboration in research projects
•    Joint conferences, seminars, workshops and other such activities
•    Access to library facilities
•    Sharing of academic data, publications and information
•    Other areas of mutual interest
The dedicated faculty who worked as Head of the Department over the span of 50 years included the following:
•    Mrs. Anwar-ul- Haq
•    Mrs. Munawar Shah Muhammad
•    Mrs. Shamas-un- Nisa Mahmood
•    Mrs. Mahmooda Kalsoom Hamayun
•    Mrs. Qamar Ahmed
•    Mrs. Kahkshan Gohar
•    Mrs. Riffat Saqlain
•    Ms. Tallat Yazdani
•    Dr. Maryam Wasif
•    Mrs. Riffat Saqlain