With globalization, the comparative cost advantage on which free trade was based from the days of Adam Smith has been replaced by competitive advantage in technology. Human development in a knowledge-based economy has been adopted by many developing countries as a strategy for growth and socio-economic development. Sri Lanka is no exception to this. Because of its crucial importance and relevance, the Sri Lankan Economic Association had ‘Human Development in a Knowledge Based Society’ as the theme of its 2003/2004 Annual Sessions. This publication is the outcome of the proceeding of its inaugural session and technical seminar and will be of great value to policy makers, administrators, students, teachers and researchers in economics.