Nobel Prize in Economic Sciences was in 1990 awarded to Harry M. Markowite, Merton H. Miller and William F. Sharpe, for their pioneering work in the theory of financial economics. Harry Markowite is the winner of this prestigious award for his key contribution in portfolio selection. He was born in 1927 in Chicago. At the University of Chicago he spent first two years studying law, and the next two studying economics. He gained his MSc degree in 1950 and his PhD in 1954. His first job position was at the University of Chicago, which he left in 1952 to join RAND Corporation, where he took part in developing large logistics simulation models. After ten years, he joined INC, and in 1968 he worked at the University of California in Los Angeles. Before he became a member of the faculty of the BC City University of New York in 1982, he had changed another three job posts. In addition to the Nobel Prize, he is also the winner of the prestigious Von Neumann Award for 1989.