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A face-to-face communication between Nobel Laureate and students of SEM

Publish Date: 2016/12/09 09:29:06    Hits:



RobertF. Engle, Nobel Laureate in Economics, is invited to give a speech in the No.1Lecture Hall of the New Main Building in November 23th, as one of celebratingactivities for Beihang's 60th birthday. After the speech, a face-to-facemeeting with Nobel Laureate is done to have more communications between Prof.Engle and SEM students. 24 students, including undergraduate and graduates and Ph.D candidates won this communication opportunity. Dean & Prof. FAN Ying,Vice Dean & Associate Prof. MOU Hui, Prof. ZHU Lei, also join in thisluncheon.

Thespeech of Prof. Engle introduces the frontier of global financial stability andrecent research results. Students raise a lot of questions, most of which arebased on the speech content. LI Yalan asks about Prof. Engle's opinion on thestatement in Paul Romer's paper ''The Trouble of Macroeconomics", which isvarious models and sophisticated mathematical analysis cover the truth ofeconomics. Prof. Engle thinks it is inappropriate to ignore the effect ofmodels, and the purpose of improving models is to fit models with economictruths and meanings.

ZENGQingchao is a transfer student from math major to economic statistics so he iswondering why Prof. Engle decided to change his research interest from physicsto finance. Prof. Engle explains the motivation is economics can be beneficialto more people.

Somestudents also ask about the Master, Ph. D and MBA programs in foreignuniversities. Prof. Engle tells students that Master focus on the training ofbasic knowledge and is the basis of Ph. D study. Master students can work forthe banks and fund companies after graduation. MBA is for management staff whoalready have years of working experiences, so management knowledge is essentialin MBA training. Applying for Ph. D is quite competitive and everybody shouldwork hard and prepare more for the application.

Withadoration and admiration, students are also wondering how Prof. Engle feltafter he won the Nobel Prize. Prof. Engle laughs and says he was so excited atthat time. He also mentions that there was some difficult period for him, so hesuggests that it is useful to set both the short-term goal and long-term goaland keep working on it.

Atthe end of the luncheon, a photo is taken for Prof. Engle and his wife with allprofessors and students in SEM.