The Center for Applied Economics (CEA) was created in 1992 by the Department of Industrial Engineering at the University of Chile.

The main objective of the CEA is to apply economic theory to problems relevant to the economic development of Chile and Latin America. The work of its researchers focuses on:  the design and evaluation of public policies; the application of economic concepts to decision-making in the business world; and on the analysis of problems associated with economic development.

Teaching is central for CEA members, who actively participate in the Master Program in Economics (MAGCEA). The program has an excellent reputation, which is reflected in the strong demand for its graduates, and in the number of graduates that are accepted for Ph.D. studies in the best universities in the world. Currently 28 former students are studying in doctoral programs in universities such as Harvard, Princeton, Berkeley, Yale and Stanford. Also, CEA researchers participate in the Doctoral Program in Engineering Systems. At the undergraduate level, CEA members provide the economics courses required by students of the School of Engineering, especially those in the Department of Industrial Engineering.  Some faculty members also teach in the graduate program in Management and Public Policy, which enrolls a large number of students from other Latin American countries.

The CEA plays an important role in public policy discussions, particularly in education, labor, finance and regulation. Moreover, the opinions of CEA academics are valued by the press and CEA researchers are often interviewed on current economic issues and regularly write op-ed articles for the main Chilean newspapers.