Host: Hello everyone, this is the Education Channel of People's Daily Online. Today the live broadcast room is very honored to invite you to Wu Weixing, Dean of the w88 casino of Finance at the w88 casino. Dean Wu welcomes you!
Professional settings and special disciplines of the w88 casino of Finance
Host: Dean Wu, could you please first introduce to us the relevant information about the discipline setting of the w88 casino of Finance?
Wu Weixing: The w88 casino of Finance at the w88 casino was formerly known as the China Institute of Finance, in80At the end of the 1990s, the party and state leaders realized that China’s economic and financial system reforms required a large number of financial talents, so the People’s Bank of China took the lead in organizing China’s reform9A financial institution founded the China Institute of Finance. At that time, there was a sentence in the outline of the China Institute of Finance that was to cultivate the seeds of China's financial industry. After the establishment of the China Institute of Finance, it also cultivated many talents.20009267_9305
Now the w88 casino of Finance at the w88 casino is divided into three majors. One is finance, which is more traditional finance, including monetary economics, international finance, commercial financial management and many other disciplines. It has gathered an older group of financial talents and has many characteristics in education. This major is also a national-level specialty.20139963_10057
The third major is investment. This major is both old and new, because the investment department was established when the original w88 casino of Finance was founded. Later, the Ministry of Education adjusted the departments and we suspended the investment department.200710381_10434
These three majors all adhere to the concept of macro finance, that is, micro finance requires understanding macro finance, and macro finance requires understanding micro. We have created two special majors calledCFClass, Chartered Financial Analyst Class andFMIThe class is a financial risk management class. The Chartered Financial Analyst itself is more micro-focused, but is placed in a finance department that is more macro-focused. This makes up for the finance department's shortcomings in micro-science. ourCFAThis training was also obtainedCFAThe association’s certification is also rarely obtained in our countryCFACertified professional. ourFMIAt the founding of the United StatesFMI11026_11070
Looking at our master's degree, many schools are originally divided into majors such as financial economics, financial engineering, financial organization, and monetary economics. However, our college adheres to the concept of big finance. We do not distinguish between majors. All finance master's degrees, whether it is a master's degree in finance or a master's degree in finance, must cover some of our basic courses. On the basis of the basic courses, each student can choose professional courses according to his or her own interests. From the perspective of our Ph.D.s, the current Ph.D. teaching basically integrates several major professional courses, and then sets up courses in various professional directions for students to choose. This is roughly what our educational program looks like.
Undergraduate employment destination: financial institutions, government state-owned enterprises, foreign companies and "Big Four" accounting firms
Moderator: We understand that there are very distinctive ones, let’s discuss them one by one. Here we also want to know, because every year6There is a saying that we are particularly familiar with in March. Every time we see the arrival of the most difficult employment season in history, everyone calls for unemployment as soon as they graduate. These are some of the sayings. The financial industry has been a relatively hot industry for several years. What is the employment situation our students face after graduation?
Wu Weixing: You are right. Graduation every year is a challenge for every scholar. As you said, the financial industry is a golden stage, and in my opinion, the financial industry has a relatively long golden stage. Employment is not a big problem for w88 casino. Our current undergraduate students are probably1/3People are employed,1/3’s classmate is studying abroad,1/3Study at Peking University, Tsinghua University, or my own w88 casino in the country. From the perspective of employment structure, our undergraduate students probably70%To financial institutions, including banks, insurances, trusts and some emerging Internet financial institutions; the rest30%, probably10%In the Big Four, this is also our traditional feature. The Big Four accounting firms, including some such as PricewaterhouseCoopers, are left10%In state-owned enterprises, including some government agencies. remaining10%Possibly to export-oriented companies and some other industries. It's such a division of labor.
From the comparison of master's degree and bachelor's degree, master's degree is more concentrated in financial institutions, and the number of master's degree institutions in financial institutions may reach80%About, undergraduate degree70%. The proportion of those with master's degrees who go to the top ten accounting firms may be smaller. Ph.D.s come to see us. In recent years, all Ph.D.s have gone to accounting firms. Because the income of institutions is higher, many Ph.D.s choose to go to financial institutions. This is also a realistic choice.
The goal of training students: to lead the development of China’s financial industry
Moderator: Financial institutions give people a very glamorous feeling and are very affordable in all aspects. Therefore, employment is no longer the purpose or goal for us to consider the development direction of students, because it has become a foundation for us. So where should we set the direction and goal of training students?
Wu Weixing: I just said that our "Outline" should lead the development of China's financial industry and let our students become the seeds of China's financial industry. Our goal is to hope that students can quickly gain a foothold in the financial industry. In particular, they must have multi-faceted abilities. The first ability is to be able to grasp the development context of finance and economy. Second, they must have sufficient quantitative techniques. There is a big difference between today's finance and traditional finance. Traditional finance can work well if you master some principles and basic principles. But now finance is more and more mechanized management, and quantification is a basic ability. We hope our students can make a difference in this aspect. Third, management capabilities. Our students must improve in management, because if they do well in finance now, finance as a whole is the core of the entire modern economy. If they do well in finance, they will face the problem of management teams. We hope that students will also have some characteristics of their own in management.
Development trend of financial major: becoming more and more professional+More and more comprehensive
Moderator: So you just mentioned that there are big differences between traditional finance and modern finance. How are the development trends and context of our financial major presented in the international context?
Wu Weixing: Judging from the current international and domestic situation, we have become more and more specialized in the process of development. We have separated finance, economics, and politics very separately. However, with the development of the times, the challenge of finance to financial talents has gradually become greater and greater. It is very comprehensive. We learn Those in finance need to understand the entire economy and the basic common sense of politics. Therefore, in w88 casino, for example, the w88 casino of International Economics and w88, the w88 casino of Law, and the w88 casino of International Relations are gradually opening up some of our courses to allow students to have a sufficient foundation in the entire economy, finance, and politics, including law.
In addition, from the perspective of international development, I also mentioned quantitative technology and data processing technology just now. Both of these aspects require financial talents to have sufficient basic knowledge. For example, in the development of Internet finance, big data is the foundation of the entire Internet. The application of big data is more important. The original small data was not fully used in the original finance. It has financial theory and financial knowledge as the basis. Now the entire domestic education needs to be further strengthened. In addition, our financial compound talents combine the economy and the entire politics. Today's compound talents need to understand the support of traditional science and engineering technology to study finance. Nowadays, employees recruited by financial institutions are required to understand not only finance, but also personnel and aerospace technology.
Moderator: Expertise in these industry segments is to be involved.
Wu Weixing: The requirement we give to students is that when we understand finance, we must also understand at least one subject that has nothing to do with finance, such as natural science. Moreover, the thinking of natural science is different from that of finance. Finance must serve the real economy. We must understand the real economy. We must understand at least one natural science so that it will be easy to establish very close ties with enterprises in the future.
Moderator: What you said is very important. It is a process that is closely integrated with the market and the enterprise. You just said that in addition to the major, you need to understand a relatively specialized knowledge that is not related to the major. How to understand this, and how to train in this process?
Wu Weixing: For example, we recently invited a national wind energy expert to talk about how to utilize wind energy. We need him to understand how wind is generated and what the natural principles are. But we also need to know what role and status this industry plays in the entire energy industry from its history to the present. What impact have these natural scientists made on the entire energy industry? They said from their own experience that students can get a collection of information, and when they study finance in the future, they will think about how to combine finance and energy. They will have a broader perspective, which may be more advantageous than purely studying finance.
Each student is assigned an alumni mentor
Moderator: Finance has become our basic subject, and these professional and related professional subjects are the direction of our interest in future development. How is it reflected in the subject teaching of our college?
Wu Weixing: One of the characteristics of undergraduate students is that each student is assigned an alumni mentor, who is an alumni who has graduated. They use modern information technology means, for example, he comes to chat with students. In fact, our alumni are in various industries. They communicate with students to improve the basic quality of students in all walks of life. In addition, we invite some senior personnel from various industries to talk to students about the development of their industries every week. Moreover, we are not limited to the financial industry in this industry. We have just mentioned the wind energy industry and even lectures on luxury goods and agriculture. We are also planning to invite some experts to tell us about their progress in different fields to give students a better perspective.
Moderator: What is the degree of users and recognition of the lectures among students?
Wu Weixing: Students are actually very picky. If the person we invite is not a top major in this industry, they will definitely not recognize it. So we have a lot of pressure, and we try our best to invite the most well-known, influential, and insightful experts in each industry. These people are very welcome to students, and the seats are often full. We grew from a small classroom to a big one, and then it became a bigger one.
Moderator: How to screen these professional lectures to find out which industries our students are passionate about and interested in?
Wu Weixing: It should be said that students’ interests are very broad, because in the financial industry we cannot see which industry will develop better or worse in the future. Of course, we will discuss it with our alumni. The theme that our alumni association often discusses is what knowledge future students should learn. They will give us some suggestions. They make suggestions. We quickly search for talents in each field in the w88 casino, and then invite them to teach this knowledge to our students.
College features: international teachers who “come in and go out”
Moderator: What are the advantages and characteristics of w88 casino of Finance’s major?
Wu Weixing: w88 casino of finance is called the w88 casino of Finance of the w88 casino. First of all, we have done a very good job in internationalization. The entire faculty is also very international. The new teachers recruited every year are basically teachers who have returned from abroad. They are traditional domestic doctors with mainland training. We require every doctor to have at least overseas experience. In addition, for our students, the w88 casino has proposed the concept of international exposure. Our students should have close contact with international schools and even some international companies. On the other hand, we also invite some professors from abroad. For example, our summer vacation is organized by the entire w88 casino every year. We invite some better university professors from Europe, America, Africa, and Southeast Asia to come and start classes in w88 casino. All students can choose to receive international education at home.
College Features: Integrating international vision and thinking into the whole process of talent training
The other is that our proportion of international students is very high. The proportion of international students in w88 casino ranks among the top in the country. And this international student involves about140Multiple countries, so the overall students’ international perspective and international student exchanges are very advantageous. This is our first very strong advantage.
Moderator: What do you think of our students in terms of coming in and going out? How do teachers view the current domestic development?
Wu Weixing: What you just said is very good.2011-201224440_24673
Moderator: This adds two chips.
Wu Weixing: Moreover, our academic level is also good, so we are very welcomed by these universities. Even many of our students have studied there for a period of time and many professors there invite them to apply for our Ph.D. and stay in their universities, so we are very favored by foreign universities.
From the perspective of foreign universities coming to w88 casino, foreign universities have different reactions because they come from different regions. Generally speaking, our students are very active. Compared with international students, our students are even more active. Generally speaking, our mainland students are more diligent and hard-working and not so pioneering. But students at the w88 casino are not like that. On the other hand, maybe our students know more about the outside world. When foreign universities come, their communication is smoother. For example, when we also introduce some natural sciences and some that are not so related to finance, this student's language ability and knowledge and language ability for doctoral majors may be further strengthened in the future.
Moderator: You just heard two key points. Students’ vision and their way of thinking determine some of the international attention paid to our students. How do we focus on these aspects during the training process?
Wu Weixing: For example, take the finance of the w88 casino of Finance as an example. In the area of financial English, teachers from our traditional foreign language w88 casino and English w88 casino are involved in teaching, and our own teachers have also set up a financial English course. Moreover, in some of our very important courses, the first half of some courses are taught in Chinese and the second half in English. In fact, language is a reflection of thinking. Students may learn Chinese or think in Chinese; if they learn English, teachers will naturally use English thinking to think about problems. In this way, it will be easier for students to switch between Chinese thinking, Western thinking, and other countries' thinking in a course.
College Features: Closely integrating theory and practice
Moderator: What other advantages and characteristics are there?
Wu Weixing: w88 casino of Finance, at the time when the China Institute of Finance was founded and9Co-organized by large financial institutions,9Large financial institutions are our board of directors. Their requirement for us is that our graduates must be able to establish themselves in financial institutions and lead the development of their departments. At this time, the requirements for practice are relatively high. Therefore, the characteristic of w88 casino of Finance is the very good combination of theory and practice.
Now, for example, if the dean wants to promote a reform, all our professors will come to discuss the reform. One of their evaluation criteria is whether it is closely related to reality and whether it is closely related to industry development. If our reform does not conform to this direction, the professors will veto our resolution. Therefore, throughout our development process, we have always devoted a lot of energy to practical teaching. For example, we talked to each department about the importance of practical teaching when it was first established. For example, when the Department of Financial Engineering was established, a financial engineering laboratory was established immediately, and we later invested in its construction. Later, w88 casino established finance, insurance, and financial management laboratories with the support of the Ministry of Education. Our students have to go to these laboratories, and these laboratories need to actually do things, not just learn some software. For example, we need to evaluate financial products on the market, conduct simulations and competitions on stock trading, and jointly organize financial product innovation competitions with the Industrial and Commercial Bank of China. We improve our teaching level through close cooperation with these companies. This is our second very important teaching advantage.
Host: Practice and fully close to the market. In this way, the students we train will immediately enter the market and devote themselves to their own work.
Wu Weixing: Yes.
College Features: International cooperation and exchanges are in line with internationally renowned universities and institutions
Moderator: Through your introduction, I found that internationalization has become a very prominent label of the w88 casino. How do we implement international cooperation and exchanges? Can you give us a detailed introduction?
Wu Weixing: Every year, we send some students from the entire w88 casino to some universities abroad. Generally speaking, they are divided into several types: one is a one-year visit, which means that they spend one year abroad in four years. There are also short-term visits, such as summer and winter vacations, where teachers lead teams to visit top universities abroad. I also went to the New York Stock Exchange to communicate with them, and also visited some important data companies such as Pengbo, communicated with their professionals, and obtained some of their qualification certificates. So we've done some work on that.
In addition, we have established extensive contacts with other universities, such as the United Kingdom, the United States, Germany, and famous universities such as Gothic University in Germany. Our students can also do this1+1, that is, study for one year in our country, one year abroad, and get a master's degree from abroad. We have also been cooperating in this regard for several years, and our courses are slowly developing projects such as mutual recognition of credits with foreign universities, so that every student can easily connect with these famous international universities.
Doctoral admission directions: monetary economics, financial organization, financial economics and financial engineering
Moderator: In our daily life, we are cultivating students' habits and a model to adapt to such market development and changes. So what is the admission situation for doctoral students in our discipline?
Wu Weixing: Our doctoral student admissions are approximately every year14-15There are about 1,000 doctoral students in w88 casino of Finance, which is relatively small. Probably from the source of students3-4He is from w88 casino, probably10-11People come from other schools. Maybe w88 casino has more opportunities in Beijing, so there are not that many people who are willing to study for Ph.D.s. Basically, only the number of people who want to study for Ph.D.s in w88 casino are2We choose among individuals1Individuals, but if you are studying for a PhD from another w88 casino, we are probably5-10Select among individuals1Personal, because1：5To10：5This ratio. The admission directions of our doctoral students are roughly divided into four areas: monetary economics; financial organization. Financial organization is mainly about some management and economics issues related to some financial institutions; and at a micro level, financial economics and financial engineering. These are our four directions. But in our teaching process, we generally do not distinguish this direction very clearly. For example, in monetary economics, we also hope that he will learn some basic knowledge of financial economics and financial engineering.
Host: It is a requirement for compound talents.
Wu Weixing: Yes.
Cultivation of compound talents with micro-finance, quantitative capabilities, and industry understanding
Host: In fact, with the continuous progress of China's economic reform and the vigorous development of the financial market, the lack of talents is an important direction that we urgently need to consider. As a talent training unit, how do we deal with the current situation of market development?
Wu Weixing: This problem can be viewed from two aspects. On the one hand, from the perspective of the enterprise, when I worked in a financial enterprise for a short period of time, I found that we could not recruit suitable talents. Now in w88 casino, I discovered that it is actually not easy for our students to find a very suitable job. This matching is very difficult, so now w88 casino’s overall employment situation is good from the perspective of the entire teaching situation, but we are always paying attention to the development of the financial industry.
From the perspective of future development, we generally divide finance into macro finance and micro finance. In the era of planned economy, our finance was basically macro-finance, and micro-finance was negligible. Because our overall configuration means are mainly planning means. But now in the resource allocation process, the market is increasingly playing a decisive role. At this time, the importance of microfinance has become highlighted. In terms of this structure, I think macro-finance talents are in a stable state, but the demand for micro-finance talents is growing rapidly. Looking at it now, we have very few students working in various companies, and most of them work in financial institutions. Now we can clearly see that more and more of these students are working in state-owned enterprises and even private enterprises, but overall it may not exceed10%, but we feel that the future trend is getting bigger and bigger. Therefore, from the perspective of w88 casino, we must gradually increase the training of micro-finance talents to avoid a mismatch between the talents our society needs and the talents our schools cultivate. This is a very important aspect that we should pay attention to.
On the other hand, we have repeatedly emphasized quantification, which means that we currently do not attach much importance to the quantitative basis of traditional finance, but now it seems that both the macro-finance field and the micro-finance field attach great importance to the ability to quantify. Our financial engineering major, of course, requires very high quantitative skills, but we have also noticed that monetary economics, commercial bank management, international finance, and corporate finance are not exactly the same modules as financial engineering. They require a higher and higher quantitative foundation, and the requirements for data analysis and modeling capabilities are getting higher and higher. We hope that students will truly have attainments in the fields of financial mathematics and mathematical finance. We now invite academicians from the Chinese Academy of Sciences to teach our students in financial mathematics, so that they can be exposed to the most cutting-edge and basic aspects of financial mathematics, and then let students strive to reach the world's leading level in quantitative analysis. This is our second aspect, we need to have quantitative capabilities.
The third aspect I just mentioned is that we need to integrate with industry. Our financial discipline cannot just play within the field of finance. When finance wants to serve the real economy, we need to understand various industries. That is to say, as I just said, we need to further strengthen the training of compound talents, so that our students must understand the industry and the industry.
Core of professional talent training: guiding students to discover and solve problems
Host: So you just mentioned that in the era of planned economy, we mainly focused on the macro perspective, and now we are increasingly turning to the micro perspective. So what do you think is the core key point of professional talents focusing on this aspect?
Wu Weixing: It turns out that we may consider issues more from a national perspective, what is the issuance of our national currency, how does our country control inflation, international finance has to deal with foreign countries, and what is our finance like? It turns out that we are considering these issues. But now we must have a considerable number of students to consider what the future development financing of our enterprises will look like and how to manage our cash flow. Thinking about issues from a business perspective is something that students should pay more attention to.
In addition, with the development of China's economy, family wealth is accumulating more and more, and personal wealth is also accumulating more and more. In the past, our wealth may be more concentrated in the hands of the state and enterprises, but now a lot of this wealth may be concentrated in the hands of ordinary people. At this time, we have to consider issues for them. In fact, while considering problems for these families, we also solve our own talent training problems.
For example, consumer finance is a very high field now, and many foreign banks are now grabbing our high-net-worth customers. How should we treat these domestic financial institutions? We are also aging. This problem is getting more and more serious. Whether our financial institutions can help our people solve these problems and help w88 casino councils solve these problems are all issues that need to be considered in our schools. We also need to guide students to consider this aspect.
In other words, the cultivation of microfinance is to guide students to discover and solve problems, and then our teachers will give them some assistance. We believe that our students can make a difference in the field of microfinance.
Host: It can be seen that with the deepening of China's economic reform, mode transformation and structural adjustment have become more and more deeply embedded in various industries and fields, including the cultivation of our financial talents, which has also begun to continue to be closer to market-oriented development. I think this is a very good sign. Thank you very much, Dean Wu, for sharing with us today, thank you!
Wu Weixing:Thank you!
Moderator: That’s it for today’s show, thank you for watching. Goodbye.
(organized by Gong Feifei Chenhuan)
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