Professor Basant Kapur joined the Department of Economics and Statistics at the University of Singapore in August 1974, after completing his doctorate at Stanford University the same year. He has been with the university since then and retired in June 2018. In that span of more than forty years, Professor Kapur distinguished himself as a scholar, teacher, and colleague. He has served the university in various capacities, most notably as Head of Department from 1993 to 1998. In the 1980s, Professor Kapur was involved in two large-scale study groups, namely the CPF Study Group and the Policy Options for the Singapore Economy Study Group, initiated by then Head of Department, Professor Lim Chong Yah. Their work contributed to the formulation of economic policies that ensured the enduring success of the Singapore economy as the country entered its third decade of independence.

In his long and fruitful research career, Professor Kapur has worked on (1) financial repression and liberalization in less developed economies; (2) open-economy macroeconomics; (3) the Singapore economy; (4) values and economics; (5) housing price dynamics; and (6) issues in endogenous growth theory. He blazed a trail for economists working in Singapore, being one of the first to publish regularly in top international journals. The esteem of his colleagues is reflected in his election as President of the Economic Society of Singapore (1997-1999).

Since his retirement, Professor Kapur has maintained his links with the Department and continues to take on some limited teaching responsibilities.

The long and distinguished career of Professor Lee Soo Ann spanned the formative years of this country. When he joined this university in 1961 after obtaining his masters degree from Williams College, it was the University of Malaya in Singapore. He taught at the university while working on his doctorate, and the degree he eventually received in 1969 was awarded by the University of Singapore. When he was promoted to a professorship in 1981, the institution had become what we know today: the National University of Singapore.

Professor Lee's area of research is the Singapore economy and his doctoral thesis on "Economic Growth and the Public Sector in Malaya and Singapore, 1948 to 1969" was published by Oxford University Press in 1974. For five years in the 1980s, he served as the Dean of the Faculty of Accountancy and Business Administration.

He resigned from NUS in 1990 to be the General Secretary of the Bible Society of Singapore, before returning to a part-time role in the university a decade later. For the last 20 years, in addition to his teaching duties, Professor Lee has been heavily involved in promoting relations between the Department and its alumni.

In addition to his support for various Christian charities, Professor Lee has, at various times, served on the boards of the Port of Singapore Authority, Jurong Town Corporation, and the National Productivity Board. In recognition of his contributions to the community, Professor Lee received a Public Service Medal in the 1999 National Day Awards.

June 30th, 2020