Center for Economic Studies

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The Center for Economic Studies (CES) is an independent institute at the Faculty of Economics of the Ludwig-Maximilians-University of Munich.

It promotes international exchange in finance and other economic fields. To this end, the Institute organizes guest stays and supports visiting scholars who pursue their research projects in Munich and, in return, give short lecture series.

Since its foundation in 1991, 914 scientists have been guests at the institute (as of the end of 2016). The work of the CES is accompanied and supported by a scientific advisory board consisting of around 20 international experts.


The Institute was founded by Hans-Werner Sinn on January 18, 1991. Among its first guests were Gary Becker, David Bradford, Richard Musgrave and David Wildasin. In 1994, CES became the co-editor of Economic Policy, Europe’s leading academic journal in the field of economic policy. In the same year, CES awarded the Distinguished CES Fellow distinction for the first time. Since 1998, CES has been one of the first institutes in the world to offer the possibility to participate in the economic discussion of its community via the Internet[1].
In 1998, the in-house research group was also decisively enlarged.

Since 1999, the Institute has cooperated with the ifo Institute, one of the largest economic research institutes in Germany. Since then, both organisations have been part of the CESifo Group[2] and the driving force behind it, strengthening the links between economic theory and empirical research, promoting personal and professional contact with international academics and thus making Munich a platform for economic and economic policy research.

Distinguished CES Fellows

Since 1994, the Institute has awarded the Distinguished CES Fellow annually. The honored economist gives a lecture (“Munich Lecture in Economics”), which is published in a special book series by the MIT Press. Awardees were:

  • 1994: Avinash Dixit
  • 1995: Anthony Atkinson
  • 1996: Jean Tirole (Nobel Laureate 2014)
  • 1997: Paul Krugman (Nobel laureate 2008)
  • 1998: Rudiger Dornbusch
  • 1999: Guido Tabellini
  • 2000: Peter A. Diamond (Nobel Laureate 2010)
  • 2001: Oliver Hart (Nobel Laureate 2016)
  • 2002: Nicholas Star
  • 2003: James M. Poterba
  • 2004: Andrei Shleifer
  • 2005: Bruno S. Frey
  • 2006: Alberto Alesina
  • 2007: Philippe Aghion
  • 2008: Olivier Blanchard
  • 2009: Robin Boadway
  • 2010: Richard W. Blundell
  • 2011: Partha Dasgupta
  • 2012: Esther Duflo (Nobel Laureate 2019)
  • 2013: Ernst Fehr
  • 2014: Kenneth S. Rogoff
  • 2015: Daron Acemoğlu
  • 2016: Bengt Holmström (Nobel Laureate 2016)
  • 2017: Susan Athey
  • 2018: Torsten Persson
  • 2019: Amy Finkelstein
  • 2020: Nicholas Bloom[3]


  1. Video recordings link
  2. CESifo Group Munich: About us.Retrieved 24 January 2009.
  3. Distinguished CES Fellow 2020: Nicholas Bloom.In: Center for Economic Studies (CES), retrieved on 6 November 2020.

Web links