CEE was established at Bogazici University (BU), Istanbul, to bring together economists knowledgeable in modern theory and analysis and to enable them to conduct policy-oriented research. Its core competence has been international economics and finance, particularly macroeconometrics. Applied I/O is emerging as the second main research area. The financial sector in Turkey and other industries that will have to go through major restructuring, particularly in the face of EU competition, are other fields of application. The center's annual conference dominates its research agenda. CEE also provides economic forecasts, organizes technical training seminars (for the Istanbul Stock Exchange, for example), and occasionally undertakes other commercial research projects, provided that the research results can be used in an academic context.