The Institute for Research on Applied Regional and Public Economics (IREA) forms part of the Barcelona Science Park (PCB). It was founded to bring together over 60 researchers in three applied economics research groups: the Regional Quantitative Analysis Group (AQR), the Risk in Finance and Insurance Group (RISC) and the Research Unit on Public Policies and Economic Regulation (PPRE). All three have been recognized by the Catalan government (Generalitat de Catalunya) as consolidated research groups. In addition, the PPRE has been provisionally consolidated as Governments and Markets (GiM).