The Ifo Institute is a registered society with the sole purpose of non-profit, economic and social research. The by-laws are the legal foundation of the society, the Ifo Institute for Economic Research e.V.
The society consists of the General Meeting, the Executive Board, the Administrative Council, the Board of Trustees and the Scientific Advisory Committee.
The General Meeting approves the annual accounts and the report of the Executive Board. It also elects the members of the Board of Trustees. The annual general meeting takes place in June at which the annual report is presented to the members.
Members of the society are natural and legal persons from Germany and abroad. The society currently has about 450 members from trade and industry, banks and insurance companies, trade associations and chambers of industry and trade.
The Executive Board runs the Institute’s business and is responsible for strategic planning and research management. Its members are appointed by the Administrative Council, and contract renewal is allowed. The chairman of the Executive Board is the president, who is appointed jointly by the Ifo Institute and Ludwig Maximilian University, Munich. Professor Hans-Werner Sinn has been President of the Ifo Institute since February 1999.
The Administrative Council of the Ifo Institute has a supervisory and advisory role vis-ŕ-vis the Executive Board. The Administrative Council consists of the chairman of the Board of Trustees, professors from the economic and business faculties of the LMU, representatives from both the Federal and Bavarian governments, the chairman of the Scientific Advisory Council and up to four other members chosen by the General Meeting. The chairman of the Council is Prof. Wilhelm Simson.
The Board of Trustees consists of individuals from academic institutions, business, trade unions and public administration. It supports the Executive Board in discharging its duties. The chairman of the Board of Trustees is Prof. Wilhelm Simson.
The Scientific Advisory Council consists of internationally respected, independent academics and experts. It was established to provide independent, external quality control and to advise the Executive Board and the Administrative Council in the long-term planning of research and development as well as on future appointments of Executive Board members. The Scientific Advisory Council advises both the Ifo Institute and CESifo. The council is currently chaired by Professor Robert H. Haveman, University of Wisconsin–Madison.
The Ifo Institute has recently established a User Advisory Council to strengthen contacts with the target audiences of its services. These include academics and researchers, governmental institutions, the business world, and national and international media. The User Advisory Council’s task is to advise the Ifo Institute in the development and evaluation of its services. This includes the enlargement of the range of services as well as the content-related presentation and quality of the services of the Institute. The chairman of the User Advisory Council is Prof. Rolf Tschernig, University of Regensburg.
