Institute of Economics, Academia Sinica (IEAS; traditional Chinese: 中央研究院經濟研究所; simplified Chinese: 中央研究院经济研究所; pinyin: Zhōngyāng Yánjiùyuàn Jīngjì Yánjiùsuǒ) was officially established February 1, 1970, after nearly seven years of preparation. It is one of the premiere economic research organizations in Taiwan. Early in its history, it focused on local issues, and later, expanded to explore more theoretical issues.