Created on May 13, 1974 by P.D. 453 entitled "CREATING THE PHILIPPINE CENTER FOR ECONOMIC DEVELOPMENT" or PCED provides "financial and moral support to the research, teaching, training and other programs of the School of Economics of the University of the Philippines". PCED supports the activities of the school such as--
a) Undertake research work and studies oriented towards national policy and the needs of national development in the field of economics;
b) Conduct 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;
c) Serve as the medium for multi-disciplinary studies and investigations and the interchange of various knowledge from other disciplines to evolve fresh ideas and approaches that could be effectively applied to economic development;
d) Publish the results of research.
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.
To promote and sustain the establishment of an economic development research institution that is responsive to the needs of the government and society at large.