Schwartsman graduated in Management from Fundação Getulio Vargas of São Paulo (FGV-SP), earned a Bachelor's degree and Master's degree in Economics from the University of São Paulo, and earned a Doctorate in Economics from University of California, Berkeley.

In 2003, Schwartsman succeeded Beny Parnes in the International Affairs Directorate of the Central Bank of Brazil,[3] where he remained until 2006.

Between 2006 and 2008 he was chief economist for Latin America at ABN AMRO Bank, and from 2008 to 2011 he held the same position at Grupo Santander Brasil.

"[8] Schwartsman defended himself from the accusations, by denying the authorship of sharp criticisms about the Brazilian government, published on his own blog by a supposed "Anonymous.

"[9] In March 2013, Schwartsman issued another controversial opinion stating that a supposed lack of control over inflation by the Brazilian government could only be solved by increasing the interest rate, even if that meant layoffs.