Michael Walker was the executive director of the Fraser Institute from its inception in 1974 until September 2005. Before that he taught at the University of Western Ontario and Carleton and was employed at the Bank of Canada and the Federal Department of Finance. He received his Ph.D. at the University of Western Ontario and his B.A. at St. Francis Xavier University. In 2016, he was appointed to the Order of Canada in recognition of his outstanding achievement, dedication to the community and service to the country.

As an economist, he has authored or edited 45 books on economic topics. His articles on technical economic subjects have appeared in professional journals in Canada, the United States and Europe, including the Canadian Journal of Economics, the American Economic Review, the Journal of Finance, the Canadian Tax Journal, Health Management Quarterly, Weltwertschaftliches Archiv and Health Affairs. His primary concern as the founding Executive Director of the Fraser Institute has been to promote the examination and use of competitive markets as a method for enhancing the lives of Canadians.

He is the co-founder, with Milton and Rose D. Friedman, of the Economic Freedom of the World project which is now a collaboration of institutes in 85 countries and produces the annual Economic Freedom of the World Index. The Index is one of the most widely cited such measures in the current academic literature.

He is a director of a number of firms and other enterprises, including, Canaccord Capital, Mancal Corporation, The Milton and Rose D. Friedman Foundation, and the owner of the Prado Verde Estates and Falcon MHP. He is a director of The Pacific Academy for Advanced Studies which organizes the annual Alamos Alliance meetings of the Chicago Boys who have been instrumental in the economic reform process in Latin America and elsewhere.

He has received the Vancouver Rotary Club Service above Self Award, the Colin M. Brown Freedom Medal and Award by the National Citizens' Coalition, an honorary Doctor of Laws degree (LL.D.) from The University of Western Ontario and The Thomas Jefferson Award from the Association of Private Enterprise Education.