Madras School of Economics (MSE), Chennai was established in 1995. The primary aim is to create a centre that would nurture quality teaching and research programs in economics. Within a short span of time it has realized this objective and is today counted among the premier institutes for higher education and research in economics in India. The National Assessment and Accreditation Council awarded MSE an “A” grade. The Ministry of Environment and Forests has designated MSE as a Centre of Excellence in Environmental Economics. The aim is to attain standards prevailing in some of the best schools of economics abroad. The hope was that after MSE had become fairly well-established, it could be approved as a deemed university and then it would have both autonomy and the approval of the University Grants Commission.