Peter Drake graduated from the University of Melbourne in 1962. Heinz Arndt supervised his PhD studies at The Australian National University which were completed in 1966. In his career as an academic economist Peter became expert on monetary systems and financial development, working on Malaysia, Singapore, Indonesia and the Pacific island economies. His books include Financial Development in Malaya and Singapore (1969); Money, Finance and Development (1980); Currency, Credit and Commerce: Early Growth in Southeast Asia (2004). Peter was Professor of Economics, Deputy Vice-Chancellor and Principal of the University of New England, Armidale, before becoming the founding Vice-Chancellor of Australian Catholic University in 1991. In 2003 he was appointed a Member of The Order of Australia in recognition of his contributions to university leadership, the study of economics and the delivery of overseas aid.