The name of the Society shall be Omicron Delta Epsilon,
International Honor Society in Economics.
- To confer distinction for high scholastic achievement in economics.
- To stimulate and promote student interest in all aspects of economics.
- To publish an official journal to be entitled The American
- To sponsor the Fisher-Taussig Award Competitions.
- Chapters of Omicron Delta Epsilon shall be limited to colleges
and universities approved as senior colleges by recognized regional
or national accrediting agencies.
- To be eligible to install a chapter of the Society, an accredited
college or university must have an independent department or program
in economics and must maintain an educational program in economics
with high professional standards and an ample curriculum which
allows a concentration in economics.
- A charter may be granted to petitioners when their application
has been investigated and approved by a majority of the International
- Each chapter shall provide itself with a set of by-laws wherein
shall be set forth such matters as are necessary for the carrying
forth of the affairs and the business of the local chapter. There
shall be no rules or provisions in the chapter by-laws that are
contrary to any item in this Constitution.
- Each chapter shall elect a chapter executive board, consisting
of a President, Vice President, Secretary and Treasurer, and other
officers provided for by its by-laws. The chapter officers shall
be responsible to the International Executive Board and shall
make periodic reports to the Central Office.
- Prior to installation, the prospective chapter member shall
elect one or more members of their Economics Faculty to act as
chapter Faculty Advisor(s). The function of the Faculty Advisor
shall usually include supervision over election of student and
honorary members, and chapter projects. However, those functions
shall be specified by the individual chapters according to their
college or university practices.
- A chapter shall meet and/or initiate new members at least once
each academic year. It shall be placed on the inactive role by
the International Executive Board, if it fails to elect new members
for three successive academic years. An inactive chapter will
be removed from the mailing list and all published lists of chapters.
- A chapter may be suspended from membership until the next Biennial
Convention by a two-thirds vote of the International Executive
Board if it has been found to be acting in a manner detrimental
to the purpose and objectives of the Society.
- A chapter may have its Charter withdrawn by a three-fourths
vote of the Biennial Convention if it has been found to be acting
in a manner detrimental to the purposes and objectives of the
- Membership in the Society shall include undergraduate, graduate,
faculty, alumni, and honorary members.
- Membership is open to all those eligible without regard to
sex, race, color, creed, or national origin.
- Undergraduate membership shall consist of those who are making
the study of economics one of their major interests and who are
attending an institution where a chapter is located. The minimum
qualifications for undergraduate membership are:
A. Twelve semester (term)
hours of economics with an average grade of at least a B or, in
the case of colleges or universities with an Honors Program in
Economics, the equivalent of B grade work or better.
B. A general average
of at least a B and a class standing in the upper one-third.
C. For institutions
that do not have a credit hour system, a candidate must stand
in the upper one-third of the students studying economics and
must have completed principles and have studied intermediate economic
D. For universities
organized on the British System, all Junior standing or higher.
Student must be in residence at least one semester.
E. Honors Students
(4th year) and upper Economics III students are eligible, as
well as the top Economics II students.
- Graduate membership shall consist of graduate students who
are attending an institution where a chapter is located or who
become members while undergraduates.
A. In residence at least
one semester, with a major or minor in economics.
B. An average of B or
better and a class standing in the upper one-third.
- A chapter may elect members of the faculty and administration
- Alumni membership shall consist of persons who have met all
of the standards for regular undergraduate or graduate membership,
but who could not join as students (a) because their institution
did not have an Omicron Delta Epsilon Chapter at that time or
(b) because of financial or other extenuating reasons.
- Honorary membership may be granted (a) by a two-thirds vote
of a chapter's membership, subject to the approval of the International
Executive Board or (b) by a two-thirds vote of the Board of Trustees,
upon the recommendation of the International Executive Board.
- Except as otherwise provided for, eligible candidates for
membership shall become members upon election by simple majority
vote of the respective Omicron Delta Epsilon chapters and payment
of local and national dues.
- When a member of a chapter has transferred from the college
or university where he/she has held membership in Omicron Delta
Epsilon to another college or university where a chapter is located,
he/she may become an active member of the second chapter by receiving
a majority vote of the members of the chapter.
- Any member of Omicron Delta Epsilon may be removed from the
membership roll by a three-fourths vote of the membership of his/her
chapter. Appeal from such action may be made to the International
- There shall exist a Board of Trustees, consisting of twelve
or more members (the number to be determined by the International
- The terms of office for members of the Board of Trustees shall
be four years, with one-half elected every other year by the International
- The Chair of the Board of Trustees shall serve two years. Ordinarily
at the end of this term, the position of the Chair is filled by
the previous Vice Chair of the Board of Trustees. The immediate
Past President of the Society then becomes the Vice Chair. In
the event of a vacancy, the International Executive Board may
appoint an individual to fulfill a term.
- The President-elect of the American Economics Association shall
always be invited to be a Trustee. The International Executive
Board has the authority to work out similar arrangements with
other national and international economic associations.
VI. DUTIES OF TRUSTEES
The Board of Trustees shall advise and assist the International
Executive Board. The Board of Trustees, which shall meet at least
once a year, shall have power to review and override, by three-fourths
vote, any action or decision of the International Executive Board
which, in its opinion, is contrary to the aims of Omicron Delta
Epsilon or to the Constitution under which it functions.
- The Chair and Vice Chair of the Board of Trustees shall serve
as members of the International Executive Board.
- In the absence of the President and the President-elect, the
Chair of the Board of Trustees shall preside at meetings of the
International Executive Board.
- The Society shall have the following officers who shall be
elective officers: a President, a President-elect, and two or
more Vice Presidents. The terms of office of these elected officers
shall be two years. In the event of a vacancy, the International
Executive Board may appoint an individual to fulfill a term.
- The Society shall have the following officers who shall be
appointed by the International Executive Board: an Executive
Secretary- Treasurer, an Editor of the Fisher-Taussig Competitions,
an Editor-in- Chief of The American Economist, and a Chair of
the International Advisory Board. The terms of office for the
Executive Secretary-Treasurer and Editor -in-Chief of The American
Economist shall be a rolling three calendar year appointment.
The terms of office for the Chair of the International Advisory
Board and the Editor of the Fisher-Taussig Competition shall be
for two calendar years.
- The International Executive Board shall consist of the President,
President-elect, two (or more) Vice Presidents, the Chair of the
International Advisory Board, the two Editors, the Chair and Vice
Chair of the Board of Trustees, and the Executive Secretary-Treasurer,
provided that the Chair of the International Advisory Board, the
Executive Secretary-Treasurer and the Editor -in-Chief of The
American Economist shall not be entitled to vote in the International
Executive Board's meetings.
VIII. DUTIES OF OFFICERS
- The President of the Society shall preside at all meetings
of the Society and of the International Executive Board.
A. Not later than 120
days before the Biennial Convention, the President will appoint
a Nominating Committee. This Committee will consist of at least
one past President and not less than two other officers of the
Society. The Nominating Committee shall be instructed to present
to the President within 30 days a nominee for President, President-elect,
and two or more Vice Presidents. The members of the Nominating
Committee and the International Executive Board shall constitute
the Electoral College. They will consider the nominees of the
Nominating Committee and present one candidate for each office.
B. The Executive Secretary-Treasurer
will inform all chapters of the action of the electoral College
at least 60 days before the Biennial Convention. An additional
nomination for any office may be made by petition, delivered to
the Executive-Secretary 30 days before the Biennial conventions,
including signatures and addresses of not less than 5% of active
Chapter Presidents or Faculty Advisors. The nominees selected
by the Electoral College and those made by petition shall be presented
at the Biennial Convention.
- The President-elect shall assume the Presidency at the end
of the Biennial convention. In the absence of the President,
the President-elect shall preside at meetings of the International
Executive Board and/or the Biennial Convention.
- One Vice President to be designated by the Nominating Committee,
shall serve as Regional Coordinator, carrying on liaison with
the Regional Delegates and chapter officials, and serving as Editor
of the Omicron Delta Epsilon "Newsletter." At the annual
meeting of the International Executive Board, the Regional Coordinator
shall submit a slate of Regional Delegates for approval.
- The Executive Secretary-Treasurer will be in charge of establishing
and running the Omicron Delta Epsilon central office, shall keep
the records of the Society, and shall receive and have custody
of the funds of the Society, all subject to the rules of the International
Executive Board. The International Executive Board, at its annual
meetings, shall receive for approval a proposed budget for the
following calendar year.
- The two Editors shall have responsibility for the Fisher-Taussig
Competitions and for publication of The American Economist,
respectively. With the advice and consent of the International
Executive Board, they may appoint members to assist them in carrying
out their duties.
- The Chair and Vice Chair of the Board of Trustees shall be
responsible for long-range planning of the Society, including
recruitment of leadership and obtaining endowment for the Society,
and other duties assigned by the International Executive Board.
IX. REGIONAL DELEGATES
- There shall be Regional Delegates who will serve as Omicron
Delta Epsilon's representatives to selected annual regional professional
meetings. The specific regional associations/meetings shall be
designated by the International Executive Board. The individual
delegates shall be recommended by the Vice President serving as
Regional Coordinator for consideration and approval by the International
- The Regional Delegates shall be responsible for promoting Omicron
Delta Epsilon's participation at the respective annual regional
meetings. An annual report of these activities shall be submitted
to the International Executive Board by the Regional Delegates.
In addition, the Regional Delegates shall be responsible for assisting
the Vice President of Regional Coordination in promoting the overall
welfare of the Society throughout the general geographical membership
served by the regional association in question.
X. BIENNIAL CONVENTIONS
- There shall be a Biennial Convention of the Society at a place
and time to coincide with the annual meeting of the American Economic
- The authorized delegates, duly assembled in Convention, constitute
the highest governing and legislative body of the Society.
- At the Convention, the authorized delegates shall elect the
President, President-elect, and the Vice Presidents.
- Each chapter at the Convention shall be entitled to one vote.
Delegates must be chapter members. All elections are by simple
majority of the chapters present.
XI. THE JOURNAL
- Omicron Delta Epsilon shall maintain a journal in which shall
be published matters of interest pertaining to the Society and
matters of general economic interest. The name of the journal
shall be The American Economist.
- There shall exist an Editorial Board charged with the function
of approving material for inclusion in The American Economist.
The Editorial Board shall be comprised of the Editor-in-Chief
and other members designated by the Editor-in-Chief, with the
approval of the International Executive Board.
- An amendment to this Constitution may be proposed at a Biennial
Convention either by the International Executive Board or by an
active chapter, provided it has been transmitted at least four
weeks before the Convention to each chapter President. The proposed
amendment, to be ratified, must receive a two-thirds vote of the
delegates at the Biennial Convention.
- An amendment to this Constitution may be proposed between Biennial
conventions either by the International Executive Board or by
an active chapter, provided it has been transmitted to each chapter
President. The Executive Secretary-Treasurer shall mail to each
chapter a ballot, as well as the proposed amendment. Sixty days
following the mailing shall be allowed for the active chapters
to vote, after which the ballot shall be declared closed. The
proposed amendment, to be ratified, must receive a two-thirds
vote of the voting chapters.
XIII. BY LAWS
- Prior to initiation, each member shall pay a life membership
fee to be determined by the International Executive Board. This
fee shall defray the cost of initiation, of issuing a membership
scroll, and of a one-year subscription to The American Economist.
- The International Executive Board shall determine annual subscription
fees to The American Economist.
- The International Advisory Board shall be composed of past
residents of the Association and past editors of The American
Economist and Fisher-Taussig Competition. The Chair of the
Board may also invite other former officers to join the Board.
In addition, with the approval of the President, the Chair may
also invite other distinguished persons interested in economics
and the Society. The members of the Board will provide advice
on policy matters, long range planning, recruitment of new leadership
and on any other issues, as requested by the President or the
International Executive Board.
- Omicron Delta Epsilon Regions shall be delineated by the relevant
Vice President, subject to the approval of the International Executive
Board. These regions might cover only a portion of a nation or
include several nations, whatever appears to be most feasible
in view of the facts of particular situations.