The Economic Institute of the National University of Mongolia (NUM) was established in 1963 by the decree of the Council of Ministers (Government) of Mongolia as a research institute of the Mongolian Academy of Sciences (MAS). The institute was the main organisation to identify the fundamental economic and planning issues and develop the generic development model of the country, thereby influencing the decision-making process. At the time of establishment, the institute had an elaborate organisational structure consisting of 12 divisions and employing around 170 scholars. In 1963-1990, the institute underwent some organisational changes. For several years since the transition to a market economy in the early 1990s, the institute operated under dual headship of the MAS and the NUM, before being fully transferred to the NUM by the Government Decree No. 31 in 1997. During this time, the institute engaged in numerous research projects and produced various publications.