James J. Diamond, 74, of Mount Prospect, a former dean and longtime economics professor at DePaul University’s College of Commerce, died June 21 of heart failure at Lutheran General Hospital in Park Ridge.

Diamond’s academic career with DePaul spanned more than 50 years, from his days as an undergraduate at the College of Commerce to his post as dean of the university’s business school. Reared on the North Side of Chicago, he received his bachelor’s degree from DePaul’s College of Commerce in 1950 and his MBA from the university in 1951. Two years later, he began teaching at DePaul, specializing in economic theory and econometrics.

After completing master’s and doctoral degrees in economics from Northwestern University in 1962, Diamond became an integral part of DePaul’s business school and its economics department. He served as department chairman from 1966-1970, as associate dean of the Graduate School of Business from 1968-1970, and then as dean of the College of Commerce from 1971-78. Diamond returned to the economics department to teach full time until his retirement in 1988, the same year in which he was given the university’s highest faculty/staff honor, the Via Sapientiae Award. As professor emeritus, he taught part time at DePaul until September 2001.

In 1996, a former student of Diamond’s, Dennis Calvanese, and his wife, Sandra, endowed the James J. Diamond Scholarship, given yearly to four DePaul students majoring in economics.

“His whole life was DePaul,” said Mary Ann, Diamond’s wife. “He enjoyed working with the people in his department and loved to teach. It was the joy of his life. He was one of those fortunate people who loved what he did.”

Michael Miller, chairman of DePaul’s economics department, said, “The influence Jim had on the department and college cannot be overstated. His approach to economics was that of a true scholar: the disinterested pursuit of truth. He let no bias or prejudice, desire to please or fear of offense, cloud his thinking. As a classroom teacher Jim aimed the level of material so as to challenge the best and the brightest in the class. Such a simple, effective philosophy always got the most out of his students. We will miss his valuable guidance, his quick wit and his broad smile.”

Diamond was president of the Illinois Economic Association from 1980-1981. He also was a member of the American Economic Association and the Econometrics Society. He served as a consultant to several businesses and non-profit organizations.

Diamond is survived by his wife, Mary Ann Diamond (nee Stone); a son, James Stephen Diamond and daughter-in-law, Elizabeth; a daughter, Ann Catherine Wilson and son-in-law, Wayne; and granddaughter Melissa Diamond. Visitation will be Sunday, June 23, from 2 p.m. to 8 p.m. at Friedrich’s Funeral Home, 320 W. Central (Elmhurst Road and Lincoln Street) in Mount Prospect. Visitation will resume at 9 a.m. Monday, June 24, followed by mass at 10 a.m. at St. Raymond’s Church, 301 S. Ioka Ave., Mount Prospect. Burial will follow at All Saints Cemetery in Des Plaines.

For more information on the service, call Tom Nolan, Friedrich’s Funeral Home: 847/255-7800.