Dr. Diamond was the 1991 recipient of the UNO Award for Distinguished Research or Creative Activity.  His research interests are in the reward structure of science and in technological innovation’s impact on economic progress.  He has also done research in the history of economic thought and in labor economics

Prof. Diamond’s published research has received over 251 citations from other publications.  His papers have been published in many journals, including:  Contemporary Economic Policy, Economic Inquiry, Economics of Innovation and New Technology, History of Economic Ideas, History of Political Economy, International Journal of Technology Management, Journal of Business Ethics, Journal of Human Resources, Journal of Economic Education, Journal of Private Enterprise, Research Policy, Science, and Scientometrics.  He has authored the entry on the “Economics of Science” for the 2008, 2^nd edition of The New Palgrave Dictionary of Economics.  Prof. Diamond has also reviewed articles for many journals as well as for the National Science Foundation in the Economics Program and the Societal Dimensions of Engineering, Science, and Technology Program.

Prof. Diamond is currently working on a book entitled Openness to Creative Destruction.  In the book, he argues that creative destruction is indeed the essential fact about capitalism, and as such, should play a greater role in economists’ research, teaching, and policy advice.

Prof. Diamond teaches Applications of Economics Related to Technology and Economics of e-Business to graduate students and Principles of Economics-Micro in the undergraduate program.  He also has taught research methods, the history of economic thought and labor economics.  The Department of Economics named Dr. Diamond the "Outstanding Economics Graduate Teacher" for 2007.

Dr. Diamond received the 1999 College of Business Administration Dean’s Citation for Excellence in Service.  He is a Heritage Foundation “public policy expert.”