After obtaining a PhD in economics at the University of Bordeaux, Claude Michaud joined (in 1961) the Banque Sudameris, then a subsidiary of the Banca Commerciale Italiana.
He moved a year later to the Caisse Nationale des Marchés d'État, an agency of the French Ministry of Finance.
He was also Scientific Adviser to the Fondation Europe et Société (1985–94) and Member of the Science Council of the Tissot Economic Foundation (1988–95).
[4][5][6][7] With the increasing integration of Europe's national economies in the EEC and later the EU he began looking at the implications of the single European market.
[8][9][10] His work in the 1990s looked more at the drivers of firm competitiveness and resulted in the publications with Chicago decision-scientist Robin Hogarth[11][12] and sociologist Jean-Claude Thoenig.