Alumnus gives $1 million to endow Economics fellowship

A Queen’s alumnus and prominent Canadian businessman has donated $1 million to the university’s Department of Economics to enable it to establish an endowed fund for a prestigious faculty fellowship.

Stephen Smith, President and Co-Founder of First National Financial LP, and a governor of the Dominion Institute,says he was moved to make the gift out of his longstanding love of economics and his desire to support an important area of social sciences research.

Named the Stephen Smith Faculty Fellowship in Economics, the new fellowship is intended to recognize distinction in the field while making it possible for the department to recruit or retain an economist of the highest calibre.

“I am immensely proud to be in a position to do this for my alma mater,” says Mr. Smith. “I believe strongly in supporting the kind of scholarly work that is done in the social sciences and that can contribute so greatly to our understanding of society and how it can be advanced to everyone’s benefit.”

Mr. Smith holds a Master of Science (Economics) from the London School of Economics and Political Science, a Bachelor of Science (Honours) in Electrical Engineering from Queen’s, and is a member of the Association of Professional Engineers of Ontario. He is also Vice-Chairman of the Greater Toronto Transit Authority (GO Transit).

“This is a wonderful gift that will make an enormous difference to the Economics Department for many years to come,” says James MacKinnon, Head, Department of Economics. “It provides us with the resources to hire a first-rate scholar and rising star in the field who will contribute greatly to our expanding graduate program.”

Queen’s Department of Economics currently has 40 full-time faculty members and offers a wide range of undergraduate and graduate programs, including one of Canada’s most successful PhD programs. The department’s research activities are aided by the John Deutsch Institute for the Study of Economic Policy. Three of Queen’s principals have been drawn from the department: W.A. Mackintosh, John Deutsch and David Smith.

“This inspirational support from Stephen Smith is going to allow us to continue to build in an area of historic strength at Queen’s,” says David Mitchell, Queen’s Vice-Principal (Advancement). “We are extremely grateful.”

One of Canada’s leading universities, Queen’s has an international reputation for scholarship, research and a diverse and vibrant learning environment. With its strong tradition of public service, the university has helped to shape Canadian values and policies, educating many of the country’s most notable political and cultural figures.

Contact: Lorinda Peterson, Communications Coordinator, Office of University Communications and Public Affairs, Queen’s University, 613-533-3234 or Anne Kershaw, Director, 613-533-6000, ext. 74038.