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Peter Brain’s doctoral degree, completed at the University of New South Wales, was a pioneering analysis of the National Accounts statistics then becoming available in time series. In 1973, he was appointed to head the Econometric Forecasting Project at the Melbourne University Institute of Applied Economic and Social Research .

After graduation from the University of Melbourne, Ian Manning taught at one of the affiliated colleges of the University of Madras, India, specialising in the economics of banking. He returned to the Australian National University to complete a doctorate on the economics of town planning, and then worked on social-security policy for the National Inquiry into Poverty. In 1980, he joined the staff at the Melbourne Institute.

In 1984, Peter left Melbourne University to found the National Institute of Economic and Industry Research (now known as National Economics). Ian joined him a year later. For the past thirty years and more, they have both collaborated and worked independently on projects covering all aspects of the Australian economy, its industries, its regions, and its people.