Agricultural Economics Section was established in 1976-77 as a part of the project “Intensification of Research at Ayub Agricultural Research Institute. Later, in 1979-80, it was placed in ‘Non-Development features’ and acquired the status of a section in the year 1983-84.

The basic mandate of the section is to support research scientists and help in the Economic analysis of experimental data along with cost-benefit analysis of new agricultural technologies evolving at Ayub Agricultural Research Institute, Faisalabad. The section is also carrying out independent research studies in the province to identify the potential research areas, to assess the productivity status, impact assessment of new and established technologies in the field and poverty related studies in the Punjab Province.