The main purpose of the Institute of Economic Studies is to:
- analyze and examine the Icelandic economy and economic system,
- strengthen the links between the research and teaching and coordinate all research in economics undertaken at the University of Iceland,
- support teaching and training in scientific methods and provide post-graduate students with appropriate research facilities,
- improve the cooperation between the university on the one hand and economic activity and research at home and abroad on the other,
- engage in contractual work and consultancy in economics and related topics,
- engage in the dissemination of the results of research in economics
- organize conferences, lectures, courses, and other forms of activity appropriate for spread and propagate economic thinking and learning.