A Brief on UPSE

The UP School of Economics (UPSE) was first created in 1926 as a department in the College of Liberal Arts in UP Manila. It moved to UP Diliman in 1949 when the entire College transferred to Quezon City. The first Dean of UPSE, Dr. Amado Castro, would at times reminisced that in those days, “The economics faculty was just me and Velmonte1.” Three years after the transfer to Diliman (academic years 1952-53), the economics department became part of the College of Business Administration where it remained until 19652.

In 1965, the UP Board of Regents approved the establishment of the University of the Philippines School of Economics (UPSE) as recommended by then UP President Carlos P. Romulo in a memorandum dated February 8, 1965. The UPSE consolidated the Department of Economics (previously part of the College of Business Administration) and the  Institute of Economic Development and Research (a separate unit of the University).

UPSE was designed to provide instructions leading to undergraduate and graduate degrees in economics. There are three functional departments in UPSE – the Department of Economics which is responsible for the academic degree programs,  the Economics Research Center which oversees the School’s research projects, and the  Public Affairs Office which coordinates the School’s various extension, training and public service activities. 

Nine years after in 1974, Presidential Decree No. 453 was signed by President Ferdinand R. Marcos creating the Philippine Center for Economic Development (PCED), a government corporate body that provides financial and moral support to the faculty’s research and teaching work, and the UPSE’s training, teaching, and other academic programs. With PCED’s financial support, UPSE built two buildings and was able to move to its current location in Osmeña Avenue in 1977. The School’s buildings were designed by renowned architect, Carlos Arguelles.

UPSE has an internationally-recognized Ph.D. program in economics. It was awarded as the Center of Excellence in Economics in 1999 by the Commission on Higher Education. The School is known for graduates who have been rigorously trained and prepared to become leaders in the field. Many of the prime movers in government, business, civil society and academia obtained their formal trainings in economics from UPSE.

1 Prof. Jose E. Velmonte was the chair of the economics department under the College of Liberal Arts and would later become dean of the College of Business Administration from 1949-1959. 

2 More Than, an UPSE Coffee Table Book.