The creation of the Ludwig-Erhard-Chair and the new Department of Economic Policy at the University of Ulm was supported by

• the Stifterverband für die Deutsche Wissenschaft,
• the Friedrich-Flick-Förderstiftung,
• the Daimler-Benz-Fonds,
• the Ludwig-Erhard-Stiftung und
• the Ulmer Universitätsgesellschaft.

After the state government had decided to budget the professorship Prof. Dr. Rainer Klump was appointed and the department could start working in the summer term of 1997.

Since September 2002 Prof. Dr. Werner Smolny performs the professorship.