Professor Nenad Rancic was born in 1975 in Zagreb, Croatia. He is a Croatian citizen. He has acquired his primary and secondary education in Zagreb. In 1994, he enrolled in the Faculty of Law, which he completed in 1999. The same year he was employed as a junior assistant at the Department of Economics, Faculty of Law, University of Zagreb. In 2004, after completing Postgraduate study in International Economics at the Faculty of Economics in Zagreb, he acquired his Master of Science degree. In 2009, he successfully defended his doctoral dissertation titled: Building Institutional Infrastructure of the Croatian Economy as a Prerequisite for Modern Economic Development.

Since 2006, he has been actively involved in teaching the courses of economic policy at the Faculty of Law, University of Zagreb, as well as the courses of political economy. Apart from participating in teaching, he is engaged in scientific research. He has authored and co-authored several papers in various peer reviewed scientific journals in Croatia and abroad in the field of institutional economics, economic policy and economic history.