w88 casino News Network (News and Publicity Center of China University of Finance and EconomicsReporter Zhang Lingyan Photography Nan Kuijun)On the afternoon of April 25, 2024, Professor Du Chuang’s special lecture series of the Financial Culture Festival hosted by the Youth League Committee Student Union of China University of Finance and Economics was successfully held in Room 617, Qiusuo Building.
Du Chuang, Ph.D. in Economics, is currently director and researcher of the Microeconomics Research Office of the Institute of Economics, Chinese Academy of Social Sciences, professor and doctoral supervisor at the w88 casino of Economics, University of Chinese Academy of Social Sciences; deputy director and secretary-general of the Private Economic Research Center of the Chinese Academy of Social Sciences. He concurrently serves as an expert in the anti-monopoly expert database of the State Administration for Market Regulation, an editorial board member of "Industrial Economics", a newspaper copy of the National People's Congress, and a member of the academic committee of the China Microeconomic Theory Forum. His main research directions include digital economy, industrial organization, enterprise theory, China's medical and health system reform, etc.
Subsequently, Professor Du Chuang officially launched this lecture around the theme of "Microeconomic Theory and China's Reality". He started from the perspective of the paradigm shift that occurred in the development of microeconomics, and briefly introduced the major changes in microeconomics from the original traditional model that ignored the interaction and information gap between economic subjects to the modern microeconomic theoretical system that pays more attention to game theory as the core. In the process of explanation, he quoted from many sources and described the advantages and disadvantages of traditional microeconomic research models in a humorous tone, which made the students enjoy it.
Picture 1 Professor Du Chuang introduces the microeconomic research model to the students
When explaining the modern microeconomic theoretical system, he reviewed the main contents of cooperative game theory and non-cooperative game theory, and introduced the core ideas of game theory in a simple and easy-to-understand manner. Then, he cleverly linked to China's reality and pointed out that China is currently at a transition point from high-speed growth to high-quality development. The focus now should be on the supply of high-quality products and services, and how consumers should distinguish the quality of products and services.
Picture 2 Students listen carefully and give positive feedback
In order to explain this problem, Professor Du Chuang introduced two economic models, limited-period repeated game and infinite-period repeated game, and used mathematical methods to explain what kind of decision-making can achieve the optimal final result in the two situations. He also introduced considerations such as reputation, competition and corporate boundaries, linked to problems such as over-medication, under-diagnosis and over-charging that may be caused by the information asymmetry of China's current medical services, and actively proposed solutions.
In the Q&A session, he answered questions raised by his classmates about how to make decisions in the final round of finite-numbered games, and raised questions to encourage students to think deeply.
Picture 3: Students present raised questions based on the content of the professor’s lecture
Finally, this lecture ended successfully with warm applause from the students. In this lecture, Professor Du Chuang briefly introduced the relevant content of the modern microeconomic theoretical system, and at the same time provided a different way of thinking for us to learn microeconomics based on China's reality. The students benefited a lot from this lecture and will further pay attention to the series of lectures of the Financial Culture Festival and pay attention to relevant knowledge of microeconomic subjects.
