With profound sorrow, the Department of Economics mourns the passing of our esteemed colleague, Dr. Rati Ram. Ram passed away peacefully on the afternoon of Saturday, March 23, surrounded by his family. We are deeply saddened by this loss, and our thoughts are with his family, friends, and loved ones during this difficult time.
Ram dedicated 44 years of his life to the Department of Economics before retiring in December 2023. As a Distinguished Professor since 1986, he left an indelible mark on our university community. A prolific researcher, esteemed instructor, and valued colleague, Ram’s influence extended far beyond the classroom.
His academic journey began with a B.A. in mathematics from Punjab University in 1955, followed by M.A. degrees in philosophy (1966) and economics (1970) from Delhi University. He pursued further studies at the University of Chicago, obtaining M.A. (1975) and Ph.D. (1976) degrees in economics of education. Ram joined Illinois State University as an assistant professor in 1977 and again in 1982 as a professor of economics after spending two years as an associate professor at Washington State University. During his illustrious career, Ram published approximately 200 academic research papers, including publications in top economics journals, such as the American Economic Review, Econometrica, Journal of Political Economy, Quarterly Journal of Economics, and Review of Economics and Statistics. Ram served on several university-level committees and was a depository of institutional knowledge for the University.
Most notably, Ram’s passion and dedication shaped the next generation of economists by teaching the core intermediate and advanced microeconomics theory courses, mentoring several graduate students, and inspiring domestic and international students. Ram’s love for his students and his commitment to student success is best reflected in his own words during his most recent interview four years ago in 2020. “I have a great relationship with students. I believe they remember me, and I remember them,” he said then. “That is what makes academic life fulfilling. What else do you do? My life is my work.”
Ram will be remembered for his smile, humor, humility, kindness, and compassion toward staff, students, and faculty. He created an environment of inclusivity where junior faculty felt seen, heard, and belonged, and championed respect and fairness. While not one for early mornings, everyone in the department and Stevenson Hall remembers Ram as the last person leaving the office every day. Ram was a constant for the department, and we are deeply saddened that the Illinois State community has lost a true exemplar of a teacher-scholar professor and an exceptional individual.
A service in his honor will be held on Tuesday, March 26, 2024, starting at noon at the Carmody-Flynn Funeral Home, 1800 Eastland Drive, Bloomington. In lieu of flowers, the family invites donations to an educational charity of your choice.
Ram’s legacy will endure in the hearts and minds of all who had the privilege of knowing him.
