Economics professor William Nordhaus has been named chairman of the Federal Reserve Bank of Boston’s 2015 board of directors.

Nordhaus, who has been on Yale’s faculty since 1967, will serve as chairman for a one-year term.

As a Class C Director – one of three classes of directors composing the board – Nordhaus was appointed by the Board of Governors “to represent the public,” according to the Boston Fed’s website. The economics professor will serve alongside two other Class C Directors: Catherine D’Amato and John F. Fish, the Chief Executive Officers of the Greater Boston Food Bank and Suffolk Construction Company, Inc., respectively.

Member banks also elect three Class A Directors and three Class B Directors to represent both their own interests and those of the public. Richard E. Holbrook, chairman and CEO of Eastern Bank Corporation, serves as the Federal Advisory Council representative for the First Federal Reserve District.

Nordhaus also serves on the research staff of the National Bureau of Economic Research and the Cowles Foundation for Research. In addition to serving as a senior advisor of the Brookings Panel on Economic Activity, Nordhaus was president of the American Economic Association in 2014-2015, and serves on that organization’s executive committee.