Sixteen national business leaders and three corporations have endowed a new George Gund Professorship of Economics and Business Administration, President Pusey announced yesterday.

The Gund Professor will be a member of both the Faculty of Arts and Sciences and the Faculty of Business Administration. Although joint professorships exist in Medicine and Biology, Law and Government, and Education and Social Relations, the Gund chair will be the first endowed professorship shared by two Faculties.

According to Pusey, a major aim of the chair is to show undergraduates "the dynamic qualities of the private sector of the economy and factors contributing to its growth."

Pusey said the Gund professor will emphasize the process of decision-making as seen from within an enterprise as well as the more conventional method of looking at the enterprise from the outside.

Pusey did not announce when the first occupant of the chair would be chosen, but he said that the two Faculties involved would seek the advice of business leaders in making the appointment.

Former Overseer

The chair honors George Gund '09, a Cleveland industrialist who has served on the Board of Overseers and is now a member of the Overseers' Committees on University Resources, Administration and Accounts, Business Administration and Public Health.

Dwight P. Robinson, Jr. '20, chairman of Massachusetts Investors Trust, raised the $500,000 necessary to endow the chair.

George P. Baker '25, Dean of the Faculty of Business Administration, said yesterday that the Gund professor's college course will stress how individual businessmen influence large economic movements. Baker said he thought the course would attract more talented students to careers in business.