He was the Prime Minister of Armenia from 2 February 1993 until 4 November 1996, and a former member of the Pan-Armenian National Movement political party.

Hrant Bagratyan is the author of 101 scientific articles and 18 monographs.

According to the developments in the economic theory and its flexibility being dependent on changing circumstances and changing world, Bagratyan argues, that along with microeconomics and macroeconomics, there must also be a place for "megaeconomics", where economies are confronted in another, more global dimension.

Hrant Bagratyan is also the author of the theory of innovation cycles.

These constant compressions and expansions determine the development of societies.