Founded in 1976 CAER is one of the oldest Centres in the University and the first centre to be established in the former Faculty of Commerce and Economics (now the Australian School of Business). Since its inception CAER's mission has been to encourage and facilitate applied economic research, to foster links between the academics at The University of New South Wales and the business and public sector communities, and to raise the applied research profile of the School of Economics more generally.
CAER's primary emphasis is on applied economic research relevant to policy issues. For more than 30 years a significant body of such research has been carried out and the results published in academic journals, books and the Centre's own publications. The Centre also conducts conferences and workshops and publishes an academic journal titled Economic and Labour Relations Review which is published jointly with the Industrial Relations Research Centre. Most of the research is carried out in the CAER's research groups.