Since 2011, the official name of the institution has been the Federal State Budgetary Institution of Economics of the Russian Academy of Sciences (Russian: Федеральное государственное бюджетное учреждение науки Институт экономики Российской академии наук).

[1] The Institute of Economics was originally established in 1922 under the Communist Academy.

On February 15, 1936, the Economic and Agrarian Institutes of the Communist Academy were reorganized into a single Institute of Economics, with its inclusion in the system of the Academy of Sciences of the Soviet Union.

[2] Under the directorship of Lev Gatovsky (1965-1971), the Institute of Economics played a pivotal role in the development and implementation of economic reforms in the Soviet Union.

The Institute publishes the journal Economic Questions.