The article summarizes the moments associated with design and implementation of creating and organizing the Central Economics and Mathematics Institute of the USSR Academy of Sciences (RAS), as one of the events on the path of the economics and mathematics development in economic science in the USSR and Russia. The main founders of this trend, as well as the Institute, and their followers, brought up within the walls of CEMI, are indicated. The role of the Presidium of the Academy of Sciences of the USSR in the creation of scientific team of the Institute and its research areas is noted. Briefly outlined the main trends of scientific research and their improvement in the process of functioning of the Institute, brief results of scientific research in the areas are noted. CEMI activities influenced on development of the economic and mathematical methods in the country; on education; on use of EMM and VT in science, economics and management. The status and foreign awards for the scientific achievements of the Institute and its employees in different years are given.