In 1987, after a successful career in business that spanned several disciplines, Igor Tomic, Ph.D., brought the breadth of his extensive experience to St. John’s University. A Professor of Economics and Finance in The Peter J. Tobin College of Business, Professor Tomic not only provides his students with a solid basis in theory, but teaches them practical skills that will serve them equally well as they embark on their careers, including interview etiquette, resume structure and effectively communicating with colleagues.
Prior to teaching he worked in textiles, mineral and chemical trading and consulted on energy issues, but always had a desire to work in the classroom. Since his arrival at St. John’s, Dr. Tomic has heightened the University’s global profile, organizing conferences at home and abroad, enabling students and faculty to share their scholarly research. His own studies in areas such as privatization, dollarization and mergers and acquisitions have earned him several awards including a Fulbright –Hays Award in 2000.
Dr. Tomic’s current research is focused on tax incentives to limit migration. “I noticed that between 2000 and 2010 many people left New York State to settle elsewhere, taking about $30 billion with them. Professor Silliman and I wondered if a tax policy could slow down the exit of those that retire (and those in pre-retirement) as a significant amount of capital exits the state with them. This migration has a negative impact on the local economy. By slowing down the exit of people from one region we can modify the boom and the bust cycle in their region of destination.”
Raising the Profile
Dr. Tomic has always stressed the importance of student engagement and learning outside the classroom. As moderator of the Economics and Finance Society for 20 years, he has helped organize several professional events each year. Students are able to visit high profile firms, attend lectures at the Federal Reserve and visit the New York Stock Exchange, enabling many of them to network with industry professionals.
As Academic Director of the Financial Services Institute, he organizes an annual conference that hosts researchers from around the world, allowing them to present research papers for peer review. Dr. Tomic noted that he is proud he has been able to promote the research done by St. John’s faculty in places such as Rio de Janiero, Istanbul, Rome, Budapest and Cape Town.
Dr. Tomic also serves as Editor of the peer-reviewed Tobin College’s Review of Business, which accepts articles in all business sciences, law and poverty issues that are both domestic and international in scope. “These efforts have given the journal a truly global intellectual perspective.”
Importance of Mission
Through the FSI, Dr. Tomic coordinated a business plan for the Sisters of the Good Shepherd. “They shelter abused women in 40 different countries and give them employment, selling their good in the U.S. We did a business plan for them and they were able to expand, and their website exploded.”
Dr. Tomic observed that his students embrace the University’s mission very quickly after arriving at St. John’s. “When they come here at 17-18 they’re not sure if they belong. You have to motivate them. Once you do the spirit of cooperation and support blossoms and they become inspired scholars.”