The Division of Economics is a major division in the School of Humanities and Social Sciences. It has its roots in the Division of Applied Economics in the Nanyang Business School, which was established in 1993. Economics as a subject offering however goes back to the historical days of Nanyang University (1955). The Division is supported by a large mix of local and international faculty, all of whom have PhDs from renowned universities from around the world. Faculty members contribute and participate regularly in major international conferences and have served as consultants to prominent international organisations such as the United Nations, World Bank, International Monetary Fund and Asian Development Bank.