In 1895 Mykhailo Tugan-Baranovsky became Privatdozent (associate professor) at St. Petersburg University and joined the Imperial Free Economical Association. In 1898 he published his work “The Russian Factory in Past and Present” which he defended as his doctoral thesis in the same year at Moscow University. In 1899, because of his political unreliability he was suspended from teaching. In 1901-1905 Mykhailo Tugan-Baranovsky lived in Poltava region and participated in public life, particularly in Poltava district council. In 1905 he returned to teaching activities and worked at St. Petersburg University, at St. Petersburg Polytechnic Institute, the People’s University of Shaniavsky in Moscow.
In autumn 1917 M. Tugan-Baranovsky returned to Ukraine. During 1917-1918 he was the General Secretary (Minister) of Finance as a part of the Central Rada, the Head of the Central Cooperative Ukrainian Committee and Ukrainian Scientific Society of Economists. Since the autumn 1918 M. Tugan-Baranovsky was one of the founders of the National Academy of Science of Ukraine, establisher and head of its socio-economic department: he drew up socio-economic programme of its activities, for the first time in the Academy system he founded the Institute of Economic Conjuncture, the Institute of Demography, Department of Economics of Ukraine. He initiated the establishment of Cooperative Institute (on the basis of Higher cooperative instructor courses which operated under the Central Cooperative Ukrainian Committee since autumn 1917) and developed its conception.
In 1919 M. Tugan-Baranovsky on the diplomatic delegation of Ukraine (Ukrainian governmental delegation of Ukrainian People’s Republic) went to France to the peace conference. He died on January 21, 1919 in the train Kyiv-Odessa (near Odessa) on the way to Paris of a heart attack.
The most famous works are “Outline of contemporary history of political economy and socialism” (1903), “Theoretical fundamentals of Marxism” (1905), “Fundamentals of political economy” (1909), “Periodic industrial crises. History of English crises. General theory of crises”(1914), “Social distribution theory”(1913),” Social fundamentals of cooperation “(1916),”Paper money and metal “(1917),”Socialism as a positive study” (1918).
M. Tugan-Baranovsky’s main works were translated into English, Italian, German, French, Japanese.