The Institute of Economics was officially established on February 1, 1970, after more than seven years' preparation. Dr. Mu-Huan Hsing served as its first Director, followed by Dr. Tzong-Shian Yu, Dr. Paul Ke-Chih Liu, Dr. Yung-San Lee, Dr. Jia-Dong Shea, and Dr. Sheng-Cheng Hu; the current director is Dr. Chung-Ming Kuan.

The Institute currently boasts of forty-two faculty members in total, including two Distinguished Research Fellows, twenty-two Research Fellows, eleven Associate Research Fellows, nine Assistant Research Fellows and one Assistant. There are also ten Correspondent Research Fellows, three jointly-appointed Research Fellows, and three Adjunct Research Fellows.

In the early years, the Institute focused its research on local issues. Bringing both domestic and international economists together, we undertook a series of research projects surrounding Taiwan's economic development, such as On Current Prices in Taiwan, The Directions and Strategies of Taiwan's Economic Development, Human Resources in Taiwan, Econometric Modeling of the Taiwanese Economy, Income Distribution in Taiwan, The Development of Taiwan's Financial Sector, and so forth. In addition to empirical studies, recently we have also placed emphasis on theoretical research. Moreover, in order to obtain a global perspective and promote interactions with international scholars, we have been organizing international conferences and sponsoring joint research and exchange programs.
 
The Institute values the continuing education of its faculty. Research leaves abroad and international guest speakers provide our researchers with plenty of opportunities to collaborate with international scholars. We also assist local universities in graduate teaching and thesis supervising. In recent years, the Institute has participated in programs sponsored by Academia Sinica, such as "Academia Sinica Fellowships for Doctoral Candidates in Humanities and Social Sciences," "Postdoctoral Fellows Appointment," and "Visiting Fellowships for Domestic Scholars," and so forth.

The institute also hosts the "Workshops on Advanced Economic Research" sponsored by the National Science Council. To cultivate outstanding economists, we are constantly augmenting our research resources such as library collections, reference databases, and computer equipments.
 

Taiwan Economic Forecasts and Policies carries biannual reports of yearly forecasts and analyses of current policies. It has become an important reference for the academia, the government, and the industries over the years. In addition, our publication committee also publishes proceedings of domestic and international conferences and, with the cooperation of the British publisher Edward Elgar, the monograph series, Academia Studies in Asian Economies. So far we have put out five books in the series.
 
Devoted to improving the academic performance of domestic economic community, the Institute, in addition to publishing journals and monographs and organizing conferences, also invites internationally renowned economists to sequences of seminars, such as the "Contemporary Master Economists Lecture Series" and the "Chinese Economics Lecture Series." Besides, we have established rigorous evaluation standards for faculty appointment and promotion, which encourage our researchers to achieve a higher level of scholarly performance.

As a result, many of our researchers received honors, such as the "Outstanding Scholar Awards" from the Foundation for the Advancement of Outstanding Scholarship, the "Academic Awards" from the Ministry of Education, the "Outstanding Research Awards" from the National Science Council, and the "Academia Sinica Research Award for Junior Research Investigators." In 1999, the National Science Council established in our Institute its Center for Research in Social Sciences, a recognition of our leading status in research. "Academic Excellence" has always been our goal, and we are striving towards "Number One in Asia, and First Class in the World."

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Volume 38, No.1   
Articles
 
Ex Post Analysis of the Economic Impact of SARS on Taiwan (in Chinese)  
Shih-Hsun Hsu, Ching-Cheng Chang, Tzu-Chiang Yang, Duu-Hwa Lee, and Hsing-Chun Lin

The Impact of the 2004 WTO July Package on Taiwan's Economic Development, Focusing on Agricultural Market Access (in Chinese)  
Tzu-Han Yang and Sheng-Ju Liu

From Static Towards Dynamic Temporal Disaggregation: Monthly Real GDP Estimate of the Industrial Sector for Taiwan (in Chinese)  
Ruey-Wan Liou

Currency Risk of Taiwan's Financial institutions (in Chinese)  
Li-Huei Lan, Y. Chris Liao, and Luke Lin

Forecast and Outlook
      I、2007 Taiwan Economic Outlook - A Revision     Chung-Shu Wu     
      II、Current Trend  
      LJin-Lung Lin, Kamhon Kan, Ching-Cheng Chang, Chi-Yuan Liang, Yeutien Chou, Chung-Shu Wu  
      III、Graphical and Tabulated Statistics

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