He graduated from the school of Economy of Azerbaijan State University in 1964. In between 1964 and 1967 he studied at the post-graduate program of the Central Institute of Economics and Mathematics of the USSR Academy of Sciences. In 1968 he defended his dissertation for a candidate of economic sciences. From 1968 to 1969 he worked as a junior associate at Azerbaijan SSR Cybernetics Institute. In between 1969 and 1971 he served as a chief instructor and assistant professor at Azerbaijan National Economic İnstitute named after D. Bunyadzade. In 1975 he defended his dissertation for a degree of doctor of economic sciences at the Central Institute of Economics and Mathematics of the USSR Academy of Sciences. From 1974 to 1987 he served as a director of the laboratory and head of the department at the Cybernetics Institute. In 1983 he was awarded with a scientific title of a professor and in 1984 became a laureate of Azerbaijan SSR State Award in the field of science and technology. In between 1987 and 1993 he continued his professional career as a director of Azerbaijan State Planning Committee and later served as a director of Economic Research Institute (current ESRI) of the Ministry of Economy. From 1993 to 1998 he worked at the Institute of Market Problems of the Russian Academy of Sciences. In between 1999 and 2000 he served as a chief advisor at the Ministry of Economy of the Republic of Azerbaijan. Since 2001 he served as a senior associate and head of lab at ANAS Cybernetics Institute. 

More than 145 of his scientific works, including more than 30 of his articles were published abroad.