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In 1980, he graduated in Civil Engineering from the Engineering School of the Federal University of Rio de Janeiro (UFRJ), but opted for an academic life and graduated in Mathematical Economics from the “Instituto de Matemática Pura e Aplicada” - Impa, in 1982. He took a doctor degree at the “Escola de Pós Graduação em Economia” - EPGE of Getulio Vargas Foundation (1980-1982) and obtained the title of Doctor in Economics from Princeton University (USA) in 1986.
He began his activities as a professor at the “Escola de Pós Graduação em Economia” – EPGE of Getulio Vargas Foundation in 1986, where he administered the following disciplines: Macroeconomics, Microeconomics, Public Finance and Finance. He also worked as a consultant for the Banco Central of Brazil in 1989. At FGV, he held the following positions: director of FGV Business, 1992-4; general director of EPGE, 1994-7; and vice-president of FGV, 1997-2000. Today he is the president of FGV, a post he has held since 2000. He was awarded, in 2002, with the title of “Grão Cruz da Ordem Nacional do Mérito Científico” (Grão Cruz of the National Order of Scientific Merit), awarded by the President of the Republic, for his contributions to Science and Technology.