Founded on 22 March 1958, by Fr Francisco Araneta, SJ, the Department of Economics at Xavier University – Ateneo de Cagayan has been a cornerstone of economic education and community engagement in Mindanao. The department’s first chair, Fr William J Nicholson, SJ, who held a PhD in Economics, served as an urban planner for Cagayan de Oro City and also held a prominent role as an economic consultant to President Ramon Magsaysay. His contributions set a high standard for combining academic excellence with practical service and national impact. Fr Nicholson’s vision laid the groundwork for an institution that would shape economic thought in the region for generations.

Over the years, a succession of esteemed leaders and faculty members from prestigious institutions have contributed to the department’s growth and reputation. Notable early faculty included Dr Alejandro Herrin (University of South Carolina), Dr Amanda Te (University of the Philippines), and Claro Cagulada (Xavier University – Ateneo de Cagayan), among others. Together, they established a rigorous curriculum, emphasizing both local relevance and global perspectives.

Chairpersons like Myra Balandra, Dr Amanda Te, Ma Kresna Navarro, Caroline Laarni Sereñas, and, most recently, Mr Jhon Louie B Sabal, have guided the department through evolving economic landscapes, consistently aligning its curriculum with the needs of the region. This legacy of leadership has ensured the department’s continued prominence in economic education.

Today, the Department of Economics remains committed to developing skilled, socially responsible economists ready to address regional and global challenges. With its strong foundation and visionary leadership, the department continues to be a key player in fostering economic insight and policy engagement in Mindanao and beyond.