The Institute for Advanced Studies creates empirically based knowledge on significant economic and social challenges of our time. It delivers excellent applied basic research and impartial scientific policy advice, combining economic and social science perspectives. In doing so, the collection and analysis of microdata is a strong foundation. IHS maintains state-of-the-art model infrastructures and forecasting capabilities. It promotes the development of young scientists for positions in academia and practice, creates platforms for international academic exchange, and plays a key role in transferring the findings of advanced economic and social research into public discourse in Austria.