History and Organization

The Institute of Economics (FGN-HSG) was founded in 1952 by professors Walter Adolf Jöhr, Theo Keller and Emil Küng. It was the first of more economics institutes to follow.

A key task is provided by article 1 in the bylaws agreed on when the institute was founded:

'The institute fosters and supports basic research in the field of economics and looks for synergies and a synthesis with other social sciences.'

The activities of the founding directors give proof of a broad understanding of basic research. For them it was not theorizing and debating in the ivory tower, but scientific work that ignites policies, the economy and teaching, and also receives impulses from these areas.

The Board of Directors is responsible for day to day operations in consideration of the strategic guidelines set by the Supervisory Board and the Statute of the Institute of Economics.

Actual members of the Board of Directors: 

Professor Dr. Stefan Bühler

Professor Dr. Guido Cozzi

Professor Dr. Paolo Piacquadio  (Managing Director)

Professor Dr. Samuel Häfner (Dep.)

Professor Dr. Ola Mahmoud (Dep.)

Professor Dr. Michèle Müller-Itten (Dep.)


Since the Institute of Economics was founded in 1952, members of the Board of Directors were, in chronological order:

1952 – 1987

Prof. Dr. Walter Adolf Jöhr, † 1987

1952 – 1968

Prof. Dr. Theo Keller, † 1980

1952 – 1981

Prof. Dr. Emil Küng, † 1992

1956 – 1958

Prof. Dr. Wilhelm Krelle, † 2004

1967 – 1992

Prof. Dr. Hans Christoph Binswanger, † 2018

1973 – 1978

Prof. Dr. Silvio Borner, † 2020

1977 – 1991

Prof. Dr. Bernd Schips, retired, ETH Zurich

1979 – 2003

Prof. Dr. Norbert Reetz, retired, University of St. Gallen

1981 – 2004

Prof. Dr. Kurt Dopfer, retired, University of St. Gallen

1981 – 1984

Prof. Dr. Ernst Baltensperger, retired, University of Berne

1987 – 1990

Prof. Dr. Robert Leu, retired, University of Berne

1988 – 1991

Prof. Dr. Franz Jaeger, retired, University of St. Gallen

1992 – 2013

Prof. Dr. Manfred Gärtner, retired, University of St. Gallen

2011 – 2017

Prof. Dr. Martin Kolmar, University of St. Gallen

2011 – 2024 Prof. Dr. Christian Keuschnigg, retired, University of St. Gallen


The Supervisory Board (Geschäftsleitender Ausschuss) is the supreme body of FGN-HSG. It is responsible for the strategic direction of the institute:

Dr. Klaus Wellershoff, Wellershoff & Partners Ltd. and WPuls, Zurich


Prof. Dr. Heike Bruch, University of St. Gallen


Prof. Dr. Aymo Brunetti, University of Berne


Prof. Winfried Ruigrok, PhD, Universität St.Gallen 



Individual sponsors or organizations support the Institute of Economics financially.

Under the presidency of Dr. Klaus Wellershoff, the following companies are members of a group of sponsors in support of our institute: 

acrevis Bank AG, St.Gallen

Credit Suisse, Zurich

Holcim (Schweiz) AG, Zurich

Leica Geosystems AG, Heerbrugg

St. Galler Kantonalbank, St.Gallen

Swiss Life, Zurich