The Council of Economic Experts consists of five members who are specialists in the field of economic theory and economic policy. They are appointed every five years by the Federal President on the recommendation of the Federal Government. Reappointments are permitted. The Council then selects one of its members as chairperson for three years.
The Council of Economic Experts is supported by the Staff chaired by the secretary general. Furthermore, the Council resorts to the Liaison Office at the Federal Statistical Office in matters of organisation and statistics
Since 1 August 2019 the German Council of Economic Experts has also been appointed as the National Productivity Board (NPB) of Germany. The basis of the NPBs is a recommendation issued by the Council of the European Union on 20 September 2016. The NPBs shall analyse developments in the field of productivity and competitiveness. This includes diagnoses of the long-term drivers of economic development, the conditions for increasing productivity and competitiveness, for example through the promotion of innovation, research and development, education, skills and training, and the capacity to attract investment, enterprises and human capital. A broad consultation process at national level and a regular exchange and intensive cooperation at European level should feed into the analysis. The German Council of Economic Experts has been addressing the issues of productivity and competitiveness in its annual reports since it was founded, and will give an additional analytical focus to these issues starting with the annual report 2019/20.