The academic advisory board is an independent body that advises the Federal Minister for Economic Affairs and Energy on all issues relating to economic policy. The board independently selects its topics of deliberation. and meets approximately six times a year.
The board submits the results of its work to the Federal Minister for Economic Affairs and Energy in the form of expert opinions, which are published regularly.
The roots of the "Board of Academic Advisors to the Federal Ministry for Economic Affairs and Energy" reach back to the time of the Second World War. From 1943, some of the subsequent members of the Board held meetings chaired by Prof. Erwin von Beckerath in order to prepare for Germany's economic future following the war. This "Erwin von Beckerath working group" became the Board of Academic Advisors, which was established in early 1948 and was formally constituted on 23 January 1948 at the invitation of the Economic Administration of the Bizone, the predecessor of the Federal Ministry for Economic Affairs and Energy, in Königstein/Taunus. The Advisory Board had 17 founding members, including Professors Franz Böhm, Walter Eucken, Alfred Müller-Armack, Oswald v. Nell-Breuning, Erich Preiser and Karl Schiller.
The board currently consists of 41 scholars who are university instructors in the fields of economics and jurisprudence. They are appointed and removed by the Federal Minister for Economic Affairs and Energy upon recommendation by the board.