During her career, she worked as a professor and was a consultant to various institutions on issues of productive promotion, urban poverty, and rural-urban micro-enterprises.

On 10 November 2010, Bolivian Minister of Productive Development Antonia Rodríguez appointed economist Teresa Morales as the new general manager of the San Buenaventura sugar company[5] She would only be in that position for two months until January 2011.

[6] On 23 January 2011, Bolivian President Evo Morales Ayma installed her in the position of Minister of Productive Development and Plural Economy of the country, replacing Antonia Rodríguez.

Teresa Morales was in office for a period of 4 years until 23 January 2015, handing over command of the ministry to La Paz economist Verónica Ramos.

[7] On 19 March 2018, the Minister of Economy and Public Finance Mario Guillén Suárez placed Teresa Morales as the new Director of the Financial Investigations Unit (UIF), replacing Alejandro Taboada.