Board of Regents

Board of Regents Meeting

Meeting of the 
Rasmuson Economic Chair Committee 
Tuesday, August 21, 2001; 1:30 p.m. - 3:30 p.m.
Room 218, Administration Building
University of Alaska Anchorage Campus
Anchorage, Alaska

Committee Members
Regent Chancy Croft, Chair 
Regent Kevin O. Meyers
Regent Brian D. Rogers
President Mark R. Hamilton
Chancellor Edward Lee Gorsuch
Diane Kaplan, Rasmuson Foundation 
Ann Parrish, UA Foundation 
Dean Hayden Green 
Dr. Bill McDiarmid 
Dr. Scott Goldsmith 
Dr. Steve Jackstadt 
Dr. Paul Johnson
Jim Greeley, Student Representative

I.   Call to Order

II.  Adoption of Agenda

III.  Approval of Minutes of July 12, 2001

IV.  Review and Approval of Proposal for Rasmuson Economics Chair
References 1-2

As requested at the July 12, 2001 meeting of the committee, attached are the following:

Reference 1: Financial Report on Status of Rasmuson Economics Chair Endowment Held by the University of Alaska Foundation

Reference 2: Timeline for Growth and use of Endowment for Rasmuson Economics Chair

Also requested at the previous meeting was a proposal from the administration regarding the Rasmuson Economic Chair as well as guidance to the selection committee.

Guidance to Selection Committee

The following is recommended as guidance to the selection committee:

Of the many qualities of the candidates for the Rasmuson Chair, special consideration will be given to candidates whose area of distinction in economics is compatible with the existing and emerging fields of most relevance to Alaska. An individual with proven expertise in the areas of [e.g., global logistics / supply chain management or fisheries? This is neither a complete list nor necessarily the most desirable] would be more desirable than a distinguished professor whose expertise is in an area not so directly associated with Alaska's economy.

The selected Chair will be expected to teach at least one class per semester, not to include directed individual studies (if any.)

The term of the position is negotiable between one and five years, with renewal an option of the Chancellor and President. It is desirable that the term be, initially, in the mid range; however, this guidance is not as important as the above.

Creation of Endowed Chair(s) in Economics at the University of Alaska Anchorage

The President recommends that:

MOTION

"The Rasmuson Economics Chair Committee recommends that, pursuant to the generosity and wishes of Elmer Rasmuson, the Board of Regents hereby establishes an endowed chair of Economics at the University of Alaska Anchorage to be called 'The Rasmuson Chair of Economics'.

The purpose of the chair is to bring to UAA distinction and leadership to the study of economics and its relevance to Alaska's future.

The person holding the chair is to have achieved distinction in the field of economics. The chair is also to have the talent and desire to inspire learning in economics, both in formal teaching and in outreach activities, and the leadership abilities to demonstrate, through research applications, the relevance of economics to Alaska's future.

Applicants shall be solicited via a national search. The Chancellor of UAA shall appoint the search committee, consisting of at least a majority of tenured faculty in economics at UAA. The search committee shall nominate a candidate, or candidates, in the case of more than one chair, to the Dean of the College. The Chancellor of UAA will recommend, upon the Dean's concurrence, a candidate to the President of UA for his final approval.

The term of the endowed chair shall be for not less than one nor more than five years. The term may be renewed within the terms, subject to the recommendation of the Chancellor of UAA and the approval of the President of the University of Alaska.

The compensation and benefits including travel and administrative assistance and other terms and conditions of appointment shall be recommended by the Dean and approved by the Chancellor. The initial chair shall be limited to one and the total support shall not exceed $200,000 per academic year. In the instance of either single or multiple chairs, the financial obligation to the chair(s) may not exceed the 5 percent of the endowed principle.

Upon the recommendation of the President and the approval of the Board of Regents, UAA may request authority to supplement the earnings of the endowment to provide sufficient funds to secure one or more chairs.

This motion is effective August 21, 2001."

V.   New Business

VI.   Adjourn

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