The Instituto de Economía was established more than 70 years ago. Academic research and interactions with public and private players have been strengthened, making it possible to shape the current research agenda.
The Institute of Banking and Monetary Economics (later renamed the Institute of Monetary Theory and Policy) and the Institute of Economics of National Wealth Sources (later renamed the Institute of the National Economic Situation) began activities after the creation of the research institutes in the School of Economics and Administration. In 1963 the two institutes merged to become the Instituto de Economía (IECON) under the direction of Luis Faroppa until 1965.
The IECON played a fundamental role in the training of the first generations of economists and the beginning of scientific research in economics in the country. During the Investment and Economic Development Commission's activities (1962-1966), it received a high demand for consultations and even the assignment of its researchers in the Commission.
From 1968 until its closing as a result of the University intervention in the military dictatorship in 1973, it focused on developing an interpretation of Uruguay's economic development and the crisis of the time, which resulted in the publication of "El Proceso económico del Uruguay" in 1969 (The Economic Process of Uruguay). Furthermore, it undertook the responsibility of studying the short run economic situation leading to the production of a series of works entitled "Estudios y Coyuntura" during those years (Studies and Short Run Economic Situation).
In March 1985, with the end of the Intervention and the assumption of the new authorities elected by the University, the IECON decided to resume the principles that had influenced its previous work.
Since then, the outstanding commitment of postgraduate-trained researchers has consolidated the professionalization of research. Moreover, the integration of young people into academic careers has been strengthened, with a focus on practice training and doctoral studies both in the country and abroad.
The research topics are currently quite broad, contributing to the diversification of economics studies in Uruguay.
A synthesis of this long process can be seen in the materials resulting from IECON's 70th anniversary celebration.
