Economics

Economics is not just a field of study focused on data and markets; it is a powerful tool that helps us better understand how the world operates. From national macroeconomic policies to individual financial decisions, economics plays a crucial role in shaping business models, driving enterprise growth, and building a sustainable economy.

Introduction to Economics

Many people are familiar with the Nobel Prize in Economics, but you may not know that Economics is the only discipline in social sciences that is awarded a Nobel Prize. This highlights its significance in human society and has earned it the title of "the most brilliant jewel in the crown of social sciences."

The term "Economy" is believed to originate from the Greek word oikonomia, which originally referred to the management of household affairs, particularly household income and expenditures. The most important aspect of acquiring and using wealth is to avoid waste of labor and products and to manage household finances efficiently—this was the original meaning of "economy."

Modern economics is a discipline that studies resource allocation and serves as a science for understanding rational human decision-making behavior.

What is Economics?

Economics is a discipline that studies various economic activities, corresponding economic relationships, and their operational and developmental laws at different stages of human society. The core concept of economics revolves around the scarcity of resources and their efficient utilization.

According to Professor Feng Wencheng from Dongbei University of Finance and Economics, Economics is a social science that studies how limited resources are allocated among different uses to ensure the best economic decisions for society. By conducting analysis and research, economists seek to identify objective laws of economic development and implement appropriate measures to stimulate or sustain economic growth while preventing economic recession.

A graduate from Zhejiang University, Xiao Zhang, stated that Economics provides a unique and rational perspective for explaining the world. From national policies to individual livelihoods, there is always an economic theory that can be applied for analysis. Studying Economics has not only helped him gain a deeper understanding of the world but also enhanced his self-awareness and decision-making skills.

Educational Objectives

This major aims to cultivate high-quality applied economic professionals who can adapt to the economic development needs of the new era. Graduates are expected to have well-rounded development in moral, intellectual, physical, aesthetic, and labor education while adhering to the core values of socialism. They will be proficient in modern economic theories and methodologies, understand China's economic operations and reform practices, and possess a broad international vision with interdisciplinary skills. Graduates will also be trained in big data analysis and application for economic decision-making.

After five years of work and continuous learning, graduates are expected to achieve the following goals:

1. Adapt to the development needs of the socialist market economy and grow into highly qualified professionals with strong moral and ethical values.

2. Apply Marxist economics and modern Western economic theories to independently analyze economic issues and policies.

3. Use economic knowledge and modern economic analysis methods to solve real-world economic problems.

4. Continuously expand and deepen knowledge in related fields through lifelong learning.

5. Work in economic management departments, policy research institutions, research organizations, and financial institutions, engaging in economic analysis and management.

Graduation Requirements

Graduates should possess the following knowledge, skills, and qualities upon completion of the program:

(A) Knowledge Requirements

1. Analytical Tools: Mastery of mathematics, foreign languages, computing and information technology, database usage, literature retrieval, social investigation and research methods, and academic writing.

2. Professional Knowledge:

• Solid understanding of fundamental economic principles, theories, and applications.

• Knowledge of economic laws and the interconnections of economic indicators.

• Familiarity with different economic schools of thought, their development, and key debates.

• Understanding of the market environment, policy rationale, and economic policy implications.

• Awareness of the latest advancements in economic theory and practical applications.

3. Interdisciplinary Knowledge:

• Exposure to humanities and social sciences (literature, history, philosophy).

• Basic natural sciences (earth science, environmental science).

• Knowledge of engineering and management sciences.

4. Management & Legal Knowledge:

• Familiarity with business administration, public administration, economic law, commercial law, and tax law.

(B) Skill Requirements

5. Ability to self-learn and adapt to new theories and technologies.

6. Capability to integrate economic theories and apply them to practical issues.

7. Proficiency in scientific research and entrepreneurial innovation.

8. Strong writing, communication, teamwork, and coordination skills.

(C) Personal Development & Qualities

9. Strong moral integrity, professional ethics, legal awareness, and social responsibility.

10. Cultivated aesthetic appreciation, cultural literacy, and humanistic qualities.

11. Good physical and mental health.

12. A correct worldview, values, and outlook on life, becoming a well-rounded socialist builder.

Core Courses

1. Ideological and Moral Cultivation & Fundamentals of Law

2. Basic Principles of Marxism

3. Outline of Modern Chinese History

4. Mao Zedong Thought & Socialist Theories with Chinese Characteristics

5. Current Affairs & Policies 1

6. Current Affairs & Policies 2

7. College English B1 – B4

8. Fundamentals of College Computing

9. Computing Lab

10. General Physical Education 1 – 2

11. Advanced Mathematics B

12. Linear Algebra

13. Probability & Statistics

14. Fundamentals of Management

15. Political Economy

16. Microeconomics

17. Business Management

18. Macroeconomics

19. Economic Law

20. Introductory Accounting

21. Operations Research

22. Statistics

23. Financial Management

24. Comprehensive Economic Management Lab 1

25. Econometrics

26. Public Finance

27. Finance

28. Marketing

29. Insurance

30. Comprehensive Economic Management Lab 2

31. International Economics

32. Investment

33. Public Economics

34. Industrial Economics

35. Public Policy

36. Institutional Economics

37. Securities Investment

38. Information Economics

39. Business English for Economics

40. Economics Capstone Lab (including Innovation & Entrepreneurship)

Research Directions in Economics

The main research areas in Economics include:

• Microeconomics: Studies individual economic behavior, including consumer behavior, producer behavior, and market equilibrium.

• Macroeconomics: Examines national economic operations, including income distribution, economic growth, employment, and inflation.

• International Economics: Analyzes economic relations between countries, including international trade, foreign investment, and exchange rates.

• Econometrics: Applies statistical and mathematical models to analyze economic phenomena.

• Economic History: Explores the historical evolution of economies, including primitive, feudal, capitalist, and socialist economic systems.

• History of Economic Thought: Traces the development of economic ideas, including ancient, medieval, modern, and contemporary economic theories.

Students can choose their research focus based on personal interests. Those interested in individual economic behavior may choose Microeconomics, while those keen on national economic policies may opt for Macroeconomics. If intrigued by international economic relations, International Economics is a suitable choice. Students passionate about statistical analysis may prefer Econometrics, while those interested in historical perspectives can focus on Economic History or History of Economic Thought.

Degree Awarded

Graduates receive a Bachelor's Degree in Economics.

Career Prospects

According to the Sunshine College Entrance Information Platform, the annual number of Economics graduates in China is approximately 34,000 – 36,000, with an undergraduate employment rate of 70% – 80%, ranking in the upper-middle tier among all disciplines.

Economics graduates typically follow three main career paths:

1. Graduate Studies: Pursuing master's or doctoral degrees to enter academia or research institutions.

2. Economic Analysis & Research: Working in government agencies, corporate strategy, financial institutions, or consulting firms.

3. Economic Management: Engaging in business management, financial operations, and market expansion in companies and banks.

Top Universities for Economics in China

1. Renmin University of China

2. Peking University

3. Fudan University

4. Tsinghua University

5. Wuhan University

6. Nankai University

7. Nanjing University

8. Xiamen University

9. Southwestern University of Finance and Economics

10. Shanghai University of Finance and Economics

11. Zhejiang University

12. Central University of Finance and Economics

13. Beijing Normal University

14. University of International Business and Economics

15. Sun Yat-sen University

16. Shandong University

17. Shanghai Jiao Tong University

18. Jilin University

19. Sichuan University

20. Jinan University

21. Zhongnan University of Economics and Law

22. Hunan University

23. Xi’an Jiaotong University

24. Northwestern University

25. Huazhong University of Science and Technology

26. Liaoning University

27. Dongbei University of Finance and Economics

28. East China Normal University

29. Capital University of Economics and Business

30. Nanjing University of Finance and Economics