ACADEMIC AFFAIRS COUNCIL ******************************************************************************

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1 ACADEMIC AFFAIRS COUNCIL AGENDA ITEM: 5.P DATE: May 12, 2015 ****************************************************************************** SUBJECT: SDSU Division of and Economics South Dakota State University has submitted a request seeking authorization to formally recognize their Division of and Economics as an interdepartmental/intercollege unit effective July 1, The proposal outlining this request is attached. Laurie Nichols, Provost at SDSU, will be available to answer questions. ****************************************************************************** RECOMMENDED ACTION Approve. Forward to COPS/BOR.

2 ATTACHMENT I 2 Division of and Economics South Dakota State University April 28, 2015 Request The Board of Deans and Faculty of and Economics request that the Division of and Economics be formally recognized as an interdepartmental/intercollege unit effective July 1, The mission of the Division of and Economics (DME) is to facilitate enriched academic and applied experiences for students, strengthen professional development opportunities for faculty and foster economic growth and development in South Dakota and the region. This mission draws upon discipline strengths, interdisciplinary collaboration, and the blend of theory, analytics, and practical application. The Division will serve as a cross-college, interdisciplinary entity comprised of faculty in the academic programs in Agricultural Business, Agriculture and Resource Economics, Construction, Economics and Economics- Business Specialization, Data Science, Hospitality, Operations and Psychology. The faculty, departments and colleges will remain in their current department and college homes. The Division provides a forum and structure to foster communication, innovation and efficiencies across programs, departments and colleges which share a commitment to management, economics and data analytics. Benefits of the proposed Division of and Economics include: Raises visibility of the interdisciplinary, collaborative work across academic units Enhances academic quality Fosters on-going professional development Builds on previous collaborative work with external stakeholders, SDSU faculty, staff and students Uses core concepts of management, economics and decision analytics to bridge academic programs, departments and colleges Provides an infrastructure to realize the stated mission Honors financial commitments from donors History In January 2013, President Chicoine and Provost Nichols established a task force for the purpose of reviewing the programs in economics, management and decision science in regard to curriculum, accreditation, recruitment and retention of students and faculty, and strategies

3 ATTACHMENT I 3 to increase effectiveness and efficiencies. The task force submitted a final report in December 2013 which resulted in the establishment of an interim structure for the time period of January June 2015 of the Division of Economics and. During this time period, activities have included: delivery of the management core and minor (89 students declared management minor; 15 students have graduated with the minor); establishment of division governance groups; providing support for work toward accreditation; development of a conceptual definition of and rubric to measure analytical rigor; on-going support for new program development in Data Science, Industrial/Organizational Psychology and revision of Informatics minor; and delivery of faculty professional development opportunities, among others. Governance Structure (current number of members) The Board of Deans (4) provides oversight and support. Deans from all partner colleges serve on the Board of Deans with a designated lead dean. The Operations Committee (7) is composed of the Division director, department heads from all partner departments, the chair and vice-chair of the Faculty Advisory Committee. The Lead Dean also attends meetings. The Faculty Advisory Council (8) is composed of one faculty member elected by each program. The chair and vice-chair is determined by the elected members of the Faculty Advisory Council. The director serves as the staff liaison. The Division Director (50%) will provide overall leadership and management of the Division. The Faculty of and Economics will hold membership in the division through an application process; must maintain good standing. A Division of and Economics Board of Advisors will be finalized by May 1. This external advisory Board will give strategic direction and support, guide quality improvement, provide evaluative input, and offer innovative advice and dynamic perspectives to enhance the effectiveness of the Division. The Board will have up to 14 members with representatives from agricultural business, construction management, financial services, hospitality management, investment services and entrepreneurship and operations management/manufacturing. Impact 2018: This request is an outgrowth of the South Dakota State University s Strategic Plan, Impact 2018:

4 ATTACHMENT I 4 Impact 2018 Strategic Goal #1: Promote academic excellence through quality programs, engaged learners and an innovative teaching and learning environment. Excellence is achieved through national accreditation for all programs in the Division of and Economics. Accredited programs foster analytical rigor, engaged and experiential learning needed to achieve the required knowledge, skills and experiences to be successful graduates and new professionals. Linkages with community partners increase opportunities for students to participate in experiential learning in state-of-the-art teaching and learning environments. For example, the First Dakota National Bank E-Trading Education Laboratory, to be located in Berg Agricultural Hall Room 139 is scheduled to be functional by summer/fall The lab is designed to provide students with hands-on experiences in managing risk, and developing the know-how, skills, proficiencies and practices to compete in the professional marketplace. Impact 2018 Strategic Goal #2: Generate new knowledge, encourage innovations and promote artistic and creative works that contribute to the public good and result in social, cultural or economic development for South Dakota, the region, the nation and the world. Faculty productivity in research and scholarship to generate new knowledge and strengthen communities and foster economic development contributes to the state and region s well-being and also supports student learning. Strong and rigorous academic programs prepare graduates to compete in the marketplace and contribute to their communities and the public good. Impact 2018 Strategic Goal #3: Extend the reach and depth of the University by developing strategic programs and collaborations. Strategic partnerships are achieved by bringing together 4 colleges, 5 departments, up to 40 faculty, and over 1,000 students for collaborative research/scholarship, teaching and learning and outreach/service on campus and beyond. Impact 2018 Strategic Goal #4: Secure human and fiscal resources to ensure high performance through enhanced financial, management and governance systems. The Division was created to with the intent of capturing synergies while more effectively using resources to achieve academic excellence.

5 Division of & Economics Faculty of the Division Rigorous Core Academic Programs Faculty Groups, Economics, Accounting, Analytics Finance Agbusiness ; Agricultural Economics; Economics; Business Economics; Entrepreneurial Studies Agribusiness & Food Systems Economics Agricultural Economics Data Science Analytics I-O Psychology Hospitality Nonprofit Organization & Change Entrepreneurship Innovation & Technology Supply Chains Startup Businesses Arts & Sciences Construction Operations Process & Quality Hospitality & Nonprofit Project Statistics, Econometrics, Informatics, Analytics Effective Operations Informatics and Analytics Education & Human Sciences 5 Agriculture & Biological Sciences Human Resources Organization & Change ATTACHMENT I Unifying Issues Data Science Informatics Engineering

6 Division of and Economics Board of Advisors May, 2015 ATTACHMENT I 6 Van Fishback President (retired) Fishback Financial Corporation th Street Brookings, SD Phone: vfishback@bankeasy.com Bill Folkerts Co-owner and Vice President Venerts Investments, Inc th Avenue SE Watertown, SD Phone: bill@venerts.com Rod Fouberg Chair and Chief Executive Officer (retired) Dacotah Bank 212 Midwest Building 308 S. Main Street Aberdeen, SD Phone: rod.fouberg@dacotahbank.com Carla Gatzke Vice President Daktronics nd Ave Box 5128 Brookings, SD Phone: Carla.Gatzke@Daktronics.com Merl Hackbart, Ph.D. Professor of Finance Gatton College of Business & Economics University of Kentucky Lexington, KY Phone: m.hackbart@uky.edu Chuck Hendrickson President and Chief Executive Officer CAPITAL Services 500 East 60 th Street North Sioux Falls, SD Phone: chuck.hendrickson@capitalsvcs.com Mark Leddy Chief Executive Officer Valley Queen Cheese 200 E Railway Avenue Drawer 35 Milbank, SD Phone: MLeddy@VQCheese.com Sarah Madison Vice President & Manager Trust Investment Division First National Bank in Sioux Falls 100 South Phillips Avenue PO Box 5186 Sioux Falls, SD Phone: slmadison@fnbsf.com Larry Ness Chairman of the Board First Dakota National Bank 225 Cedar Street Yankton, SD Phone: lness@firstdakota.com

7 ATTACHMENT I 7 Gordon Ommen Principal Capitaline Historic Train Depot 111 Main Avenue Brookings, SD Phone: gordono@capitaline.net Jay Rasmussen Vice President Business Development/Marketing Sioux Falls Construction 800 S 7 th Ave Sioux Falls, SD Phone: Office: Cell: jrasmussen@journeyconstruction.com Craig Rickert Principal C.A. Rickert and Associates, Inc West 57 th Street, Suite 109 Sioux Falls, SD Phone: craig@rickertdevelopment.com Steve Stahly Principal Stahly Investments 7047 Vista Drive West Des Moines, Iowa Phone: steve@stahlyinvestments.com Kim Tyler Vice President, Sales (retired) Kellogg Company 7500 S Chatworth Circle Sioux Falls, SD Phone: Katyler20@live.com