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.
The scientific and organizational management of the Institute is currently by the presidents Prof. Dr. Felix Höffler, Prof. Michael Krause, Ph. D., and Dr. Steffen J. Roth.
A non-profit association of donors supports the institute.