The National Economic Council serves as a coordinating body for the Prime Minister on topics which require comprehensive and methodological economic thinking, assists in decision-making processes and is involved in projects on the Prime Minister's agenda and that of the government in general. The Council was established in 2006, with the goal of answering the demand for a professional economic body with a macroeconomic perspective and a high analytical ability that would operate in the Prime Minister's Office.
Professor Eugene Kandel has been serving as Head of the National Economic Council in the Prime Minister's Office and Economic Adviser to the Prime Minister since July 2009. Professor Kandel has both a BA and an MA in economics from the Hebrew University and an MBA and doctorate in economics from the University of Chicago.
Professor Kandel has worked for years to shape economic policy in Israel and was a member of central public committees such as the Hamdani Committee and the Ariav Committee. Professor Kandel served as an adviser to governmental bodies, financial institutions and economic organizations around the world. In this framework, he worked to design regulatory systems, evaluate the profitability of corporations, develop optimal pricing policy, etc., as well as strategic and financial consultation. Professor Kendal also served as a member of Israel's antitrust court and as the chairman of investment committees of pension funds and provident funds in Israel.
Professor Kandel is a senior professor at the Hebrew University Business School and Economic Department, and in the past served as the Chair of the Economic Department. Previously he worked in leading institutions around the world, including the University of Chicago, the University of Rochester and Washington University. Prof. Kandel is also a member of the Center for the Study of Rationality in the Hebrew University, a research fellow of the Centre for Economic Policy and Research in London and a fellow of the European Corporate Governance Institute.
The Prime Minister appoints an advisory council to serve alongside the National Economic Council. The Advisory Council's role is to assist the Prime Minister and the NEC in its areas of activity and in formulating policy recommendations for issues under its purview. The Prime Minister appoints the head of the Advisory Council from among the public representatives on the Council, and the Council includes economists and senior officials with diverse experience from the public and business sectors and from academia.