Corresponding member of Azerbaijan National Academy of Sciences Bahman Yusif oglu Akhundov was born on December 28, 1910 in Irevan city. He graduated from Nakhchivan Agricultural Technical College and studied at the Central Asian State Plan Institute in Tashkent. After graduating from high school in 1934, he worked at the Azerbaijan State University and entered the postgraduate course of the Moscow Plan Institute named after Krjjanovski in Moscow. In 1939, he defended his dissertation thesis under the scientific supervision of the famous scientist Stanislav Gustavovich Strumli. B.Akhundov was at the forefront during the Second World War and was awarded the Medal “For the Defense of Moscow”.
B.Akhundov returned to Baku in 1942, worked as a lecturer at Azerbaijan State University, and continued his career as Senior Research Fellow at the KP MK Party History Institute.
B.Akhundov defended his doctoral dissertation on "Monopoly capital in the Baku oil industry before Revolution" in 1951.
B.Akhundov, the first Doctor of Science in the Republic of Azerbaijan in the field of economic sciences, worked as Professor of the Political Economy Department of Azerbaijan State University (present BSU) in 1950-1956, and in 1966-1974 - Pro-rector on Scientific Affairs of the Azerbaijan Institute of Public Relations named after D.Bunyadzade, 1974 From the beginning of his life he worked as a professor of political economics at the same institute. He was a member of the Editorial Board of the Economic Section of the "Azerbaijan Communist" and "The News of the Azerbaijan SSR" magazine, the editor-in-chief of the "Scientific Works" magazine of the Ministry of Higher and Secondary Special Education of the Republic.
B.Akhundov was awarded the title of Honorary Economist of Azerbaijan in 1967, and in 1968 he was elected as a corresponding member of the Azerbaijan National Academy of Sciences.
Correspondent member of ANAS Bahman Akhundov died in 1984 in Baku.