The 1st Session of “The Economic Way of Thinking” Lecture Series | Think Like an Economist

On the afternoon of March 11th, 2021, “The Economic Way of Thinking”, the first lecture series in the new semester of Institute for International and Area Studies, Tsinghua University (IIAS-THU), kicked off in Auditorium 205 of the Central Main Building, with the theme of “Think Like an Economist”. Prof. Wang Yong, Associate Professor of the School of Social Sciences, Tsinghua University, was invited as the keynote speaker in this series, aiming at providing necessary training of economic thinking for the lifelong growth of THU students to “cultivate the moral self, regulate the family, govern the state, then lead the world to peace”.

“The Economic Way of Thinking ” Lecture Series show great innovations in both contents and curriculum design. It focuses on five key areas of individual decision-making, group interaction, organizational behavior, public policy and global governance, combined with real-world economic decision-making scenarios and case studies. In connection with various cases of regional development in the world, doctorate candidates are guided to improve their economic way of thinking and decision-making in complex environment and grow into insightful talents with rational thinking and forward-looking vision.

In the inaugural session, Prof. Wang Yong explained what the economic way of thinking is and how to think like an economist. Economic logic and way of thinking run through our daily life and decision-making. The economic way of thinking is a method and perspective of problem solving, which helps to improve our awareness of economy, society and politics. He further elaborated four features of the economic way of thinking, that is, individual perspective, rational hypothesis, balanced analysis and institutional arrangement. Prof. Wang also offered practical advices and encouraged doctorate candidates to apply the economic way of thinking to their study and life by engaging in economic training on campus, being sensitive to time cost and learning to “earn money”, “make profit” and “seek opportunities ” to facilitate their lifelong growth.

Prof. Wang Yong is Tenured Associate Professor of the Institute of Economics at the School of Social Sciences, Tsinghua University and Member of the Academic Committee of IIAS-THU. Prof. Wang holds a PhD from Guanghua School of Management of Peking University and served as a postdoctoral fellow at Department of Economics of Harvard University. He was appointed as Deputy Director of the Institute of Economics at Tsinghua University in 2012 and further served as Executive Vice President of the Institute of Minsheng Economic Research at Tsinghua University. His research interest covers game theory and its applications, theories of Internet economy and enterprises and park economy.

Text by: Du Moran
Photography by: Du Moran