Why the NIE is granted for the Nobel Prize so many times and why it gets so extraordinary honor? To answer this question, this paper attempts to combine the theoretical contributions and social inferences of this year’s Laureates Ostrom and Williamson, to take a brief survey for the main research issues and achieved fruits of the NIE from the aspect of economics thoughts and to predict future direction of governance economics. We conclude that on the basis of CPRs’ self-governance and the firm’s boundary and the logic of economy organizations, Ostrom and Williamson have deepened our knowledge and foresights on how to design efficient govern mechanisms to resole the basic human behavior such as transactions, cooperation and conflicts by broadening economic study for costs and performances of informal and formal institutions. Besides, we also summarize the future research directions for the NIE.