Purpose

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.

Membership

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

The executive committee is made up of the President, the First Vice-President, the Second Vice-President, the Secretary/Executive Director, and the Treasurer. The Secretary/Executive Director and the Treasurer serve six year renewable terms. The Second Vice-President serves for one year, then one year as First Vice-President, and finally one year as President. The President serves as Chairperson 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. Terms are effective at the beginning of the Calendar year.

The Board

The Board is made up of the members of the Executive Committee, and members at large who are either past presidents of the Society or elected members by the Board under the proposal of the Executive Committee.

All powers of the Society reside with the Board, including the power to change the by-laws, to amend the by-laws, to define the composition of the Committees of the Society, to elect the members of the Committees of the Society, and to conduct business for the Society directly or through delegation.

Any member of the Board can propose matters to be considered by the Society by sending an email to the President or the Secretary/Executive Director. Following a proposal, members of the Board 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 Board members or two weeks following the proposal, whatever comes first.

Decisions are voted at the simple majority unless specified otherwise, but any change of the bylaws should receive at least 2/3rds of the votes.

The Fellowship Committee

The Fellowship Committee is a standing committee of the Society. It consists of members of the Executive Committee serving ex officio and of Economic Theory Fellows who have been nominated by the Board under the proposal of the Executive Committee. Members of the Fellowship Committee, who are not ex officio members, serve a three-year term. One member of the Fellowship Committee is appointed by the Executive Committee as the Chair of the Committee.

Should a member of the Fellowship Committee 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.

Economic Theory Fellows

Nominations for the Economic Theory Fellows may be made either by any individual Fellow or by recommendation of the Board. The sponsors shall provide the information that is required by the Fellowship Committee.To confirm a nomination of a new Fellow it requires 2/3rds of the votes cast by the Fellowship Committee with the approval of the Board at the simple majority. The Secretary/Executive Director will organize the voting according to the posted rules.

The Council

All the members of the Board and all the members of the editorial Board of Economic Theory will constitute the Council. The role of the Council is advisory.

Meetings

Meetings may take place annually and shall be held at time and place to be designated by the Executive Committee.