Shyam Lal College, Delhi is a good institute but not exceptional, if its prospects are compared with various other colleges. However, the economics department alone can be a good choice if you are opting for Shyam Lal College.

Now, the faculties are good but it is essential that you study as per your pace and competence, without depending upon the professors.

Shyam Lal College can be a good choice only if you are devoid of any other options to go for. There are other aspects to consider when choosing a college, the infrastructure, crowd, internship programs, fest, societies, canteen, campus, location are to name a few among many others.

The infrastructure is quite good. The internship programs, alongside the fests, are not quite exceptional. In a way, the societies, in contrast, are ranging higher from time to time. Moreover, the canteen of the college is somewhat above average, while the location is quite disadvantageous. However, the institute is deemed pretty much better than others since it is under the University of Delhi. 

Overall Shyam Lal College, Delhi is a decent option for pursuing your Economics Hons. Now whether you should go for it or not depends on what other options you have.