Members of the Advisory Panel (Advisors) are nominated by CREDO Members and elected by the Executive Board, which requires the support of at least five members (i.e., a majority).  In order to make sure that members remain up-to-date in their expertise, terms on the Advisory Panel last only six years but may be renewed.  The only binding requirements are that Advisors: (i) hold a Ph.D. in economics, finance, business economics or a similar field and be members of CREDO and (ii) not hold a politically-elected or -appointed public office of national prominence.  Nevertheless, several criteria exist to guide nomination and election of members:
  1. solid knowledge of their particular subfield within the economics discipline, including a strong record of publishing in top research economics journals;
  2. recognized stature in the research economics profession;
  3. an ability and willingness to communicate clearly across the disciplines of economics and Catholic social thought and to communicate with both economists, Church leaders, and other people in other disciplines;
  4. a non-partisan, non-ideological commitment to Truth in all its forms;
  5. strong commitment to the mission of the organization, love of God, compassion for the poor, and devotion to the Catholic Church and the Gospel.

The above five criteria are guidelines rather than requirements.  Even as guidelines, not every criterion needs to be applied to every Advisor, if a potential Advisor is particularly qualified along a subset of the criteria and would fill a niche and enhance the Panel along those dimensions.  (Note that this implies that Advisors need not be Catholic.)  Similarly, Advisors ought to be broadly representative, such that nomination and election should give preference to subfields (especially those deemed most relevant to Church leaders and institutions), geographic locations, and universities/research institutions underrepresented on the Panel.