 Teixeira dos Santos has a degree in Economics by the University of Porto (1973), and a PhD in Economics by the University of South Carolina (1985).He embraced an academic career as university professor in the "Faculdade de Economia da Universidade do Porto" (FEP) (Economics School of the University of Porto).He presided over the stock exchange authority of Portugal, the Comissão do Mercado de Valores Mobiliários (CMVM), until he received an invitation to enter the Portuguese government led by José Sócrates.