OMICRON DELTA EPSILON: International Honor Society in Economics
Philosophy
Omicron Delta Episilon (ODE) is dedicated to the encouragement of excellence in economics. It encourages devotion on the part of its members as economists to the advancement of their science and to the scholarly effort to make freedom of want and deprivation a reality for all mankind.The History of ODE
Omicron Delta Epsilon, one of the largest academic honor
societies, was established in 1963 as a result of a merger of two
honor societies: Omicron Delta Gamma (founded in 1915 by Profesor
John R. Commons at the University of Wisconsin, Madison, and
Frank W. Taussig at Harvard University); and Omicron Chi Epsilon
(founded in 1956 by Prof. Alan A. Brown when he was a student at
the City College of New York). It became an International Honor
Society in Economics in 1969. Since that time, a number of
chapters throughout the world have been added.
Eligibility for Membership
Undergraduate candidates for election to membership in any chapter of ODE must have an overall scholastic average of "B" and at least twelve credits in economics with an average of "B" or better [defined as a GPA of 3.0 or better at Carthage College]. They do not necessarily have to be economics majors, but they must have a genuine interest in economics.
Candidates for membership must be persons of high ethical and professional standards. No one shall be denied membership because of sex, race, color, creed, or national origin.
There are no admission requirements for faculty members. All are
eligible and welcome to join as charter members or they be
elected later by the chapter. Chapters may also elect Honorary
Members and Alumni Members (persons who graduated before the
local chapter was organized).
Fees and Dues
An international initiation fee, currently $27, is paid by each
prospective member of ODE upon his/her election to membership in
the Honor Society. In return, he/she receives a membership scroll
and a one year subscription (2 issues) to The American Economist.
The purchase of the official key or pin by the initiates is
optional but encouraged. There are no annual dues but
subscription renewals to the journal may be purchased.
Chapter Organization
Each chapter shall elect a President, Vice-President, Secretary
and Treasurer (although the Secretary and Treasurer may be one
person), a Membership Chairman, a Program Chairman and essential
committees to conduct the affairs of the Chapter. A set of
by-laws shall be adopted by each chapter and serve in its
governance. The chapter by-laws may not be contrary to the
International Society's Constitution.
Chapter Activities
Chapters engage in such activities as their members deem most interesting and beneficial to their development as economists. Chapters in general have an annual installation ceremony for officers and new members. Examples of activities may include:
Initiation Banquet or Ceremony
The highlight of the year's activities to install the
chapter's officers and induct new members.
On-Campus Presentations
By visiting economists and others working in economic-related
fields.
Field Trips
To economic institutions such as the Federal Reserve Bank of
Chicago, the Mercantile Exchange, the Chicago Board of Trade,
Federal, state, and local government agencies, and business
enterprises.
Regular Meetings or Seminars
Seminar papers presented by faculty and students; presentations
by other college faculty; panel discussions on leading issues in
economics; and, video or multimedia presentations.
Business Meetings
To carry out discussions concerning the annual program, budget,
election of officers, and other matters concerning the
chapter.
The Biennial ODE Convention
Once every two years, conjunction with the meetings of the Allied
Social Science Association (ASSA), the Honors Society convenes at
the major city where the ASSA is meeting. At these conventions,
the John R Commons Award is awarded to an outstanding economist
in recognition of his/her achievements and for his/her service
both to the economics profession and ODE.
The Frank W. Taussig Article Award for Undergraduates
The Taussig Award is a competitive award bestowed upon the undergraduate or recent graduate in economics submitting the best article in any year. (Economics refers to both theoretical and applied economics).
Who is Eligible? Anyone satisfying one of the following 3 criteria: (1) Any undergraduate student in a school with an ODE chapter; (2) Any student who received his or her bachelor's degree from such a school not more than two years prior to entering the competition, and (3) Any member of ODE who received his or her bachelor's degree from any school not more than two years prior to entering the competitions.
Eligible Entries - - Articles may be on any topic in economics. Entries of up to 5,000 words are preferred, but up to 10,000 words are acceptable.
Nature of Award -- The Frank W. Taussig Award consists of a cash prize of $250 and publication in The American Economist. In addition, the chapter submitting the winning entry also receives $100.
Procedure for Participation -- Submit three copies of your entry to the Selection Committee in your department. If there is no Committee in your department, submit entry with supporting letters from two faculty members ot the Chairman of the Fisher/Taussig Competitions.
Deadline -- All entries must be received by ODE by October 15 each year.
Selection Process -- One or more entries judged to be of superior quality in department competitions will be forwarded to the International Editorial Board. All entries judged to be of superior quality by this Board will be entered in the final competition and will be judged by the Final Selection Board.
Award Announcement -- the announcement of the award is made approximately December 15th each year.
More Information -- For more information, write to Dr Charles F. Phillips, Jr., Editor Fisher/Taussig Competitions, Washington and Lee University, Lexington, VA 24450.