The International School of Economics was founded at Tbilisi State University in 2006, through a unique collaborative effort of the World Bank, BP, Open Society Institute, the governments of Georgia, Germany, Sweden, and Norway. ISET offers a two-year Master's Program in Economics. The program adheres to international academic standards with English language instruction by visiting and resident international Ph.D. faculty. Of more than 100 graduates to date, more than one third occupy analytical positions with economic policy agencies in all three countries of the South Caucasus region. About 10% continue their education in the most prestigious Ph.D. programs in Europe and North America, such as Stanford, Chicago, and Pennsylvania Universities. ISET Policy Institute was established in May 2011 to complement the educational mission of ISET. ISET-PI provides independent policy research and training and reaches out to the broader academic, policy and business communities in the South Caucasus. It is one of the first university-based think-tanks in the region, supported from inception by the Open Society Institute’s Think Tank Fund. ISET-PI is also a member of the Stockholm Institute of Transition Economics (SITE) network.