The Institute for Economic Policy was founded in 1950 as an independent, economic research institute at the University of Cologne. Its founders were Prof. Dr. Alfred Müller-Armack, who had developed the concept of a social market economy (“Soziale Marktwirtschaft” in German), and Dr. h.c. Franz Greiß.
The primary objective of the Institute is the research of current key issues of economic policy. The focus lies on problems of economic policy rules (including the concept of “Ordnungspolitik”) and a regulative framework necessary to uphold the social market economy.
- An article regarding Prof. Dr. Alfred Müller-Armack written by Prof. Dr. Hans Willgerodt (pdf).
- A discussion paper regarding the history of the social market economy written by Johannes R.B. Rittershausen (pdf).
The scientific and organisational management of the Institute is in the hands of the directors. A non-profit association of donors supports the Institute.
After Prof. Alfred Müller-Armack, Prof. Hans Willgerodt, Prof. Christian Watrin, Prof. Juergen B. Donges, Prof. Johann Eekhoff und Prof. Achim Wambach presently Prof. Felix Höffler is the director.