The MacFie Bequest is named after Professor Alexander MacFie, Adam Smith Professor of Political Economy at the University from 1945 to 1958. It is applied by the University for the benefit of the Department of Political Economy, and any other Department or Departments which have been or may be set up to deal with social and/or political theory and institutions.
The Bequest supports the activities of departments or sub units within departments (i.e Centres) such as seminars, conferences or special equipment for the use of the whole department, rather than funding individuals.
A small committee (chaired by the Professor of Business History) meets once a year to allocate funds to things like seminar series for the former "Social Science Faculty" departments and contributions to class prizes for those departments. The lion's share goes to Economics to support various initiatives,as well as contributing towards the funding of the Bonar MacFie Chair in Economics.