The Society exists to advance the theoretical foundations of economics and to facilitate communication among researchers in fields and methods that will enhance the development of economic theory.
Any individual with interests in economics based on rigorous theoretical reasoning can become a member provided that he/she pays the dues.
The executive committee is made up of the Second Vice-President, the First Vice-President, the President, the Past-President, the Secretary/Executive Director, the Treasurer/Editor and any At-Large Members.
The Secretary/Executive Director and Treasurer/Editor serve six year renewable terms. The Second Vice-President serves for one year then one year as First Vice-President, then one year as President and finally one year as Past-President. Members-at-Large serve two year terms that may be renewed. The President serves as Chairman of the Executive Committee.
The Executive Committee is responsible for the daily administration of the Society. Two members of the Executive Committee shall represent the Society in external affairs.
All powers of the Society reside with the Executive Committee, including the power to change these by-laws, to amend these by-laws, to change the membership on the Committee, and to conduct business for the Society directly or through delegation. Any member of the Executive Committee can propose matters to be considered or decided by the Executive Committee by mail or email to the members of the committee. Following a proposal members of the Executive committee will submit votes by email to the Secretary/Executive Director who is charged with counting the votes. The vote shall be deemed complete following the submission of votes by all Executive Committee members or three weeks following the proposal, whichever comes first. Any proposal that receives 2/3rds or more of those voting is deemed to have passed.
The members of the Executive Committee and renewal of appointments to the Executive Committee are determined by the Executive Committee under the standard election rules of that Committee. Terms are effective at the beginning of the Calendar year.
Past members of the Executive Committee and all the members of the editorial Board of Economic Theory will constitute the council. The role of the council is advisory.
Economic Theory Fellows
Economic Theory Fellows are selected for their scientific excellence, originality, and leadership; high ethical standards; and scholarly and creative achievement. The contributions of fellows may exist in many areas of theoretical economics, including pure and applied research, and government service. The primary qualification for fellowship is to have substantially advanced economic theory. This achievement may be evidenced by an outstanding publication record; strong editorial board service; honorary, scientific, educational and professional achievements, or through the training of graduate students.
The Fellowship Committee and Nominating Subcommittee
The Fellowship Committee is a standing committee of the Society. It consists of the Executive Committee and the Nominating Subcommittee. Nominations for Economic Theory Fellows may be made either by any individual Fellow or by recommendation of the Nominating Subcommittee. The sponsors shall provide such information as is required for election to Fellowship. To confirm a nomination of a new Fellow requires 2/3rds of the votes cast by the Fellowship Committee.
The Nominating Subcommittee shall consist of a minimum of six (6) Fellows. At least three (3) members – or more if directed by the Executive Committee – shall be elected by the Fellows. Elections shall be held under the direction of the Executive Committee and any Fellow may nominate any other Fellow for membership in the Nominating Subcommittee. The Secretary/Executive Director will organize the voting according to the posted rules. At least three (3) members of the Nominating Committee shall be appointed by the Executive Committee using its ordinary procedures.
Members of the Nominating Subcommittee serve a three-year term and they can only be renewed for a second term. One member of the Nominating Subcommittee shall be appointed by the Executive Committee as Chair, and will serve both as Chair of the Nominating Subcommittee and of the entire Fellowship Committee for the three-year term.
Should a member of the Committee on Elections resign prior to completing a full term, the Executive Committee will appoint a replacement committee member to complete the term of the individual who has resigned.
Meetings may take place annually and shall be held at time and place to be designated by the Executive Committee.
The Society may be dissolved only at a special meeting called for the purpose, and in the manner prescribed by the relevant state laws, by vote of two-thirds of the members of the Executive Committee. Subject to compliance with the applicable provisions of such laws, upon any such dissolution of the Society, all its property remaining after satisfaction of all its obligations shall be distributed to its members.