The "vagaries" of Irish economic behaviour are to be studied by a new research centre which NUI, Galway aims to establish in the new year.

The university plans to use a £2.2 million (€2.79 million) allocation from the Higher Education Authority (HEA) to set up a centre for innovation and structural change. The college's marine research institute has also secured an HEA award of £15. 1 million as part of a package worth £28.8 million to NUI, Galway.

The centre will also serve as a "hub" for other research bodies. NUI, Galway has a close relationship with the University of Limerick. NUI Galway is one of 23 colleges to win grants worth £252 million in total announced this week for scientific and humanities research. The programme is administered by the HEA.