Creation of the Philippine Center for Economic Development.
Section 1
SECTION 1. Creation of the Philippine Center for Economic Development.—There is hereby created and established a Philippine Center for Economic Development, which shall be located at the University of the Philippines, with a distinct corporate personality. The function of the Center is to give financial and moral support to the research, teaching, training and other programs of the School of Economics of the University of the Philippines. The Center shall formulate a program for financing the academic and other programs of the School, including the endowment of faculty chairs. The School of Economics nevertheless remains under the effective academic and administrative supervision of the University of the Philippines System. The School will undertake its academic functions at a larger scale to be made possible by the financial support of the Center, and in so doing will be assisted by the Advisory Committee of the Center; but the School will maintain a high degree of independence, relying on faculty initiative as the prime means of developing competent training and research. This shall pertain to all of the following functions of the School: To conduct and engage in research work and studies oriented towards national policy and the needs of national development in the field of economics, particularly in the areas of: monetary and fiscal policy; tariff and trade policy; industrial and agricultural policy; regional economic development; Long-, medium- and short-term economic planning techniques; manpower and employment; economic studies on education, health and social development, in general; and statistical programs and policy; To undertake training programs designed to provide the government and the nation as a whole of planners, analysts and economic statisticians, or in general, of technicians skilled and knowledgeable in the problems of economic development; To serve as the medium for bringing together experts and specialists in other disciplines to conduct studies and investigations and engage in interchange of ideas so as to bring in their knowledge and experience to bear on common problems with a view to evolving fresh ideas and approaches that could be effectively applied to economic development; To engage in the publication of the results of research.