The composition of the Faculty is defined in Section 1.11 of Rules and Regulations of the Faculty. There are three elected Officers of the Faculty: Chair, Associate Chair, and Secretary. The President of the Institute is, ex officio, President of the Faculty. The specific duties of the Faculty Officers can be found in Section 1.20 of Rules and Regulations of the Faculty.
Educational policy for the Institute is determined by the Faculty. The Faculty meets regularly each month during the academic year to deal with matters relating to educational policy, methods, curriculum, and degrees, both undergraduate and graduate. The Faculty develops and carries out policy through its standing committees. The Faculty Policy Committee (FPC) maintains a broad overview of the Institute's academic programs, deals with a wide range of policy issues of concern to the Faculty, and coordinates the work of the Faculty committees. The Chair of the Faculty is, ex officio, Chair of the FPC. Other standing committees of the Faculty, whose composition and duties are defined in the Rules and Regulations of the Faculty, are the following: Academic Performance, Campus Planning, Curricula, Discipline, Graduate Programs, the Library System, Nominations, Student Life, Undergraduate Admissions and Financial Aid, and the Undergraduate Program.