1974- Master of Science in Economics from Warsaw University Department of Economics

1978- PH.D and  1982 – Habilitation from Warsaw University Department of Management

From 1974 until 1989, professor in the School (Department) of Management of Warsaw University. Main areas of research and teaching: institutional economics, economic policy, money and banking.

From 1989, Senior Advisor, and from 1990 until 1991, Undersecretary of State in the Ministry of Ownership Changes (Privatization). Co-author of the Polish Privatization Program and the Head of the Department responsible for creation of the legal and institutional base for the capital markets in Poland. Head of the Supervisory Board of the Warsaw Stock Exchange.

From 1993 until 2013, an international staff of the World Bank HQ in Washington D.C. During the work in the World Bank  the lead specialist in the Private and Financial Sector Department in Europe and Central Asia Region, and the Country Manager in Ukraine (1998 -2001) and in Azerbaijan  (2007-2010). After retirement from the WB, a part-time professor at Warsaw University School (Department) of Management until now.