Dr. Sicat is a professor emeritus of the University of the Philippines. He has contributed significantly to Philippine economic development not only as a professor and researcher, but also as a cabinet member particularly the first director general of the National Economic and Development Authority (NEDA).

A staunch advocate of economic freedom, he founded the Philippine Institute for Development Studies (PIDS) and helped strengthen the Philippine Social Sciences Council, the national social sciences organization. He is also credited for making the UP School of Economics the nation’s premier school in Economics and a national resource for policy-making by creating the Philippine Center for Economic Development (PCED) as its financial arm for research and training.