Omicron Delta Epsilon is one of the world's largest academic honor societies. The objectives of Omicron Delta Epsilon are recognition of scholastic attainment and the honoring of outstanding achievements in economics; the establishment of closer ties between students and faculty in economics within colleges and universities, and among colleges and universities; the publication of its official journal, The American Economist, and sponsoring of panels at professional meetings as well as the Irving Fisher and Frank W. Taussig competitions.
Currently, Omicron Delta Epsilon has 652 chapters located in the United States, Canada, Australia, the United Kingdom, Mexico, Puerto Rico, South Africa, Egypt, France, and United Arab Emirates. With such a broad, international base, chapter activities vary widely, ranging from invited speakers, group discussions, dinners, meetings, etc., to special projects such as review sessions and tutoring for students in economics. Omicron Delta Epsilon plays a prominent role in the annual Honors Day celebrations at many colleges and universities.