The primary purpose of the Institute is to facilitate post-doctoral research and publishing. The research areas covered by post-doctoral research Institute Fellows include applied economics and finance, business history and public health.


The Institute’s strategy is to use leverage to accomplish its primary purpose. Accordingly, the Institute has always operated with a very small annual basic budget. This covers the salaries for research assistants, editors and general administration (all part-time). In addition, travel expenses and honoraria for speakers at the Institute’s seminars are covered with this basic budget. Profs. Galambos and Hanke contribute their efforts during the academic year at no cost to the Institute. Funding for Fellows, conferences and specific research projects is obtained on a case-by-case basis and is not part of the Institute’s annual basic budget.