Committee’s Official Designation
MCC Economic Advisory Council (“The EAC”)
The EAC is established under agency authority pursuant to and in accordance with the provisions of the Federal Advisory Committee Act (FACA), as amended.
Objectives and Scope of Activities
The EAC shall serve MCC in a solely advisory capacity and provide advice and guidance to Millennium Challenge Corporation (MCC) economists, leadership of the Department of Policy and Evaluation (DPE), and senior MCC leadership regarding relevant trends in development economics, applied economic and evaluation methods, poverty analytics, as well as modeling, measuring, and evaluating development interventions, including without limitation social and gender inequalities. In doing so, an overarching purpose of the EAC will be to sharpen MCC’s analytical methods and capacity, and an ‘intellectual renewal’ in support of continuing development effectiveness. It will also serve as a sounding board and reference group for assessing and advising on strategic policy innovations and methodological directions in MCC. The EAC will focus on issues related to the analytical products and strategy used as inputs to compact development and decision making, on learning from MCC experience about compact effectiveness and impact, and to reflect on the broader global development trends and context of MCC’s work.
Description of Duties
The EAC will provide advice to MCC on issues related to growth and development in low and middle income countries including:
- New perspectives on economic development
- Innovative approaches to growth analytics
- Innovations in program and project evaluation
- Applied microeconomics and cost-benefit analytics
- Poverty and income dynamics
- Social development and the economics of gender
- Other innovations in the field of development economics and evaluation
The duties of the EAC are solely advisory and any determinations to be made or actions to be taken on the basis of EAC advice shall be made or taken by appropriate officers of MCC.
Agency or Official to Whom Council Reports
The EAC will report to the Vice President of the Department of Policy and Evaluation.
The Department of Policy and Evaluation will provide administrative support for the EAC.
Estimated Annual Operating Costs and Staff Years
Annual operating costs include meeting expenses, travel, staff salary and benefits, meeting supplies, as the Department of Policy and Evaluation deem necessary. The annual operating costs of establishing and maintaining the EAC is estimated to be approximately $108,000. Members shall not be paid for their time or service. Members shall be reimbursed for their travel-related expenses to attend meetings.
|Federal Staff||[0.5] person per year||$[50,000]|
|Travel and per diem||$[55,000]|
Designated Federal Officer
The Designated Federal Officer (DFO) is a permanent part-time or full-time federal employee who will be appointed by the Vice President of the Department of Policy and Evaluation and shall ensure compliance with FACA and its implementing regulations. The DFO will approve or call all of the EAC and subcommittee meetings, prepare and approve all meeting agendas, attend all EAC and subcommittee meetings, adjourn any meeting when the DFO determines it to be in the public interest, and chair meetings when directed by the agency head. Alternative DFOs may be appointed.
Estimated Number and Frequency of Meetings
The EAC will meet at least one time per year in Washington, D.C. or via video/teleconferencing.
Duration and Termination
The EAC will serve indefinitely, on a continuing basis, subject to biennial renewal as required under the FACA. In accordance with the FACA, the EAC will terminate two years from the date of filing this Charter, unless the Charter is renewed prior to termination.
Membership and Designation
The Council shall be comprised of no more than 20 members who are independent of MCC and are recognized experts in the development economics and evaluation fields. Members are invited to serve on the basis of the professional and thematic perspectives they bring to the EAC. Members will be invited to join the council representing different expertise and perspectives, with both developed and developing country experience and backgrounds, including inter alia, professional experience with growth analytics, poverty and income dynamics, applied microeconomics and cost-benefit analysis, social development, and the economics of gender. Members will serve in a representative capacity, representing the views and interests of their industry or area of expertise, and not as Special Government employees. All Members shall serve without compensation.
The Council may, with agency approval, create subcommittees as necessary and consistent with the Charter. These subcommittees must report to the Council for full deliberation and discussion, and not directly to MCC or any of its employees.
The records of the EAC shall be handled in accordance with General Records Schedule 6.2. The records will be available for public inspection and copying, subject to the Freedom of Information Act, 5 USC 552.
The filing date of this Charter is October 5, 2018.