Economics Institute Banja Luka was established in 1960. The status of scientific research institution was acquired in 1972 and has been maintained ever since. In its fifty years of existence and work, the Institute has developed distinguished methodology and carried out numerous research projects in economic and scientific research areas. More than thousand of scientific research projects, expert studies, feasibility studies and investment projects have been carried out, including publishing many articles in scientific and professional journals. The Institute has organized many scientific and expert seminars, at the same time encouraging the training and education of its experts and associates on international conferences and workshops. The Institute had very good cooperation with related institutes from European countries (Holland, Spain, Switzerland, Israel, Poland and others). The Institute carried out procurement monitoring and audit in the projects financed and administered by the World Bank, 2000. For that purpose PMAU (Procurement Monitoring and Audit Unit) with three auditors was established. The Institute has played very significant role in the post-war transition of the economic system in the Republic of Srpska and particularly in the privatization process of publicly owned enterprises. Economics Institute has also made considerable contribution in energy sector restructuring activities, participating as local consultant in development of series of laws on electricity, regulatory agencies at the RS and BiH level and transmission company, as well as designing the study on social aspects of new tariff system in electricity consumption. With political and economic stabilization, the Institute has resumed the cooperation with research and consulting institutions in Republic of Srpska, Bosnia and Herzegovina and abroad, with several projects which have already been jointly implemented with institutions from Sweden, Norway, Serbia, Montenegro etc. Newly established economic system and overall stabilization of circumstances have shifted the Institute toward ownership and organizational restructuring, and in 2001 it was transformed into the join-stock company. Achieved development level and project references are the basis for future development of the Institute being the leading research and consulting institution in Republic of Srpska and Bosnia and Herzegovina in the field of macroeconomics, organization and information technologies, and various consulting services. In addition to an internal expertise, the Institute relies upon a large network of external experts, both national and international.