Taiwan Institute of Economic Research (TIER) was established on September 1, 1976 by Dr. Chen-Fu Koo as the first private independent think tank in Taiwan. The main purpose of the institute is to actively engage in research on domestic and foreign macroeconomics and industrial economics in order to provide consultations to the government and enterprises and to promote Taiwan's economic development. TIER successfully built up its professional reputation among other think tanks in Taiwan. Research reports, industrial consultations, economic forecasts, and various publications produced by the institute are highly acclaimed. TIER actively participate in dealing with international affairs and this enable it to gain a solid understanding of global trends, to provide forward-looking analysis with a global perspective, and to formulate optimal policy alternatives for the businesses and the government. Additionally, TIER has been making a concerted effort to assist the Ministry of Economic Affairs of the Republic of China (Taiwan) in the operations of the Industrial Development Advisory Council. Following domestic and international political, economic and social changes, it is likely that future industrial economic problems will become increasingly complicated. As such, there is a growing need for large-scale professional research institutes to conduct research on the emerging issues and to provide the decision makers with relevant information. TIER, with excellent professional and intensive experience, will continue providing high-quality economic advisory services to the government and the private enterprises.