The Institute of Economic Analysis (ICAE) is a research center at the Complutense University of Madrid created 1993 by a group of specialist teachers in Macroeconomics, Microeconomics, Monetary and Financial Economics, Econometrics and Mathematics. ICAE is currently composed of 25 members and is constantly expanding. ICAE financing is based on the contribution of UCM and research projects and 83 in which its members are involved. The staff of ICAE is involved in various activities of research that materialize, inter alia, in publications in scientific journals, working papers and research and consulting projects financed by public and private entities. On individual web pages teachers can find more detailed information on the investigation being carried out . ICAE organizes research seminars weekly in collaboration with the FAE FAE I and II in which Spanish and foreign researchers present the results of their most recent works in Economic Theory, Econometrics and Finance.