The Research Council of Norway (RCN) makes systematic evaluations to assess the quality and relevance of Norwegian research in an international perspective. These evaluations provide an important source of input for the future strategy and for determining new areas of focus as well as new instruments. In 2006 an international Panel was commissioned to evaluate activites within the field of economics in Norwegian universitites and relevant research institutes. The Panel was asked to evaluate scientific activites with respect to their quality and international and national collaboration. The committee was further requested to evaluate the way in which economic researc is organised and managed. The Panel for evaluation of research in economics in Norway submit the following report. The Panel is unanimous in its assessments, conclusions and recommedations of the Panel members has declared any conflicts of interest. Hopefully the report will be useful for the researc units as well as for the RCN for the future strategy within the fields of economics.