DEPARTMENT OF ECONOMICS 

Established in 1976

To perpetuate the memory of Dr. John Matthai, Finance Minister of India during 1948 – 50, the University established the Department of Economics in 1976 at Thrissur District on 18 acres of land donated by the family of Dr. John Matthai. The Department started functioning under the leadership of a well known economist, Prof. M.A. Oommen. Over the years, the Department has grown into a prestigious centre for higher studies in economics with a strong orientation in research. A large number of students have made their mark as well-versed economists and came to occupy top positions in international and national institutions. The Department faculty have undertaken and completed many research projects sponsored by UGC, UNDP, ICSSR, Planning Commission, Ministry of Environment, Government of India, Various Commodity Boards and a host of NGOs. The faculty members have publications in international and national journals and they also act as consultants for different organizations. The Department offers Ph.D, M.Phil, and MA programmes. The Department has produced about 110 Ph.Ds so far under the guidance of the Teachers in the Department. At present, the Department has 52 MA students, 01 M.Phil and 47 Ph.D research scholars. A large number of students have made their work as well known economists and come to occupy top positions in national and international institutions and organizations including University of Cambridge, University of Puerto Rico, University of Reading,University of Groningen, IIM, IGIDR, TISS, GIFT, CDS, Central and State Universities. The Department has a well developed library with a collection of over 12,000 titles and subscription of 15 journals. Now the Department is at the verge of launching an Inter University Centre for excellence in Financial Economics and Financial Engineering at the interest of Government of Kerala. The Department has recently started PG course in Financial Economics.

ABOUT DR. JOHN MATTHAI (1886-1959)

Dr. John Matthai was born in Calicut on 10th January, 1886.  He was married to Achamma and had three children:  Valsa, Duleep and Ravi.  He graduated from Madras Christian College and was lawyer by profession. He left t to pursue his Ph. D from The London School of Economics under the guidance of Prof. Vera Anstey in 1925. He worked for his D. Sc Degree under Prof. Sydney Webb, the famous social thinker. After the studies in London, he joined the Balliol College, Oxford for the B.Litt. Degree. He also spent some time in Ireland under Horace Plunkett, the famous protagonist of co-operative movement.  He was an educationist, economist and prominent member of the Government of India and in the corporate world during the 1940s and 1950s.  

He started career as a tutor of History at the Madras Christian College and later functioned as the Deputy Registrar of Co- operative Societies, Madras. He taught Economics at Presidency College, Madras and later became the Chairman of the Tariff Board in 1925.  He was appointed as the Director General of Commercial Intelligence and Statistics. He later became a member of the Legislative Council in Madras. He was the Co-author of the Bombay Plan – the first attempt to provide a plan for economic development of India.  He was also appointed by the Viceroy of India in the Interim Cabinet of India as the Finance Minister. He was appointed as the First Railway Minister after independence and subsequently, the Finance Minister.  

He was the First Chairman of the State Bank of India and Vice Chancellor of Bombay University during it’s centenary year.  Then he became the Vice Chancellor of Kerala University in 1957. He was also the Founding Chairman of the Administrative Staff College of India in Hyderabad and President of National Council of Applied Economic Research and the Indian Institute of Science, Bangalore.

He was appointed as Chairman of the Taxation Enquiry Committee.  He joined the House of Tatas in the early 1940s and continued till the late 1950s.  He was Director in-charge of setting-up Tata Chemicals Ltd.  He was appointed as the Vice Chairman of TISCO and TELCO and Chairman of the Sir Dorab Tata Trust, Tata Memorial Trust and the TIFR.   He was a Director of Tata Industries and Tata Sons.  

He was actively involved with the YMCA min his youth.  He was awarded three Gold medals by the Madras Christian College and the British India Government Conferred upon him the Companion of the Order of the Indian Empire (CIE) in 1934.  He was also awarded the Padma Vibhusan in 1959.

Dr. John Matthai  passed away in Mumbai on 2nd November, 1959.  

Visit: www.drjohnmatthai.com