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History

The 1944 educational program for the Facultad de Ciencias Económicas y de Administración established the creation of five research institutes, among which was the IECON, originally call the Instituto de Economía Banciaria y Monetaria. It officially began operating in 1949, under the direction of Luis Faroppa.

In 1954 it was renamed the Instituto de Teoría y Política Monetaria, continuing under Farropa’s direction. At the same time, the Instituto de Economía de las Fuentes de la Riqueza Nacional, directed by Carlos Quijano, was renamed the Instituto de la Coyuntura Económica Nacional, and was placed under the direction of José Domínguez Noceto.

In 1963 Instituto de Economía Bancaria y Monetaria merged with the Instituto de la Coyuntura Económica Nacional. The new institution was named the Instituto de Economía. It continued under Faroppa’s direction until 1965.

The Instituto de Economía played a fundamental role in training the first generations of economists and in the inception of scientific research in economics in this country. During the period in which the Comisión de Inversiones y Desarrollo Económico was active (1962-1966), the Instituto de Econoía became the object of continual requests for consultations, advice and the “borrowing” of researchers.

From 1968 until its closing as a result of the 1973 University Intervention, the Instituto de Economía focused on producing an interpretation of Uruguay’s economic development and of the crisis of the time, which led to the publication of “El proceso económico del Uruguay” in 1969. At the same time, it focused on analyzing the current economic situation, which resulted in the publication of a series titled “Estudios y Coyuntura”. This effort was interrupted in 1973 due to the University Intervention.

In March of 1985, when the Intervention was lifted and with the assumption of authorities elected by the three University Orders, the Instituto de Economía returned to the principles that had inspired its earlier work. 
 
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