Nobelist Sets Institute in Shenzhen- Sargent Institute of Quantitative Economics and Finance

Yesterday afternoon, Sargent Institute of Quantitative Economics and Finance, Peking University HSBC Business School was officially established. As the 2011 Nobel Economics Laureate, Professor Sargent will fully utilize his academic advantages in the dynamics macro economics and econometrics, playing a significant role in promoting Shenzhen's financial industry development and the construction of think tanks. Professor Sargent together with Member of the Standing Committee of Municipal Party Committee, Deputy Mayor Mr. Zhang Hu, Dean of Peking University HSBC Business School Mr. Hai Wen jointly unveil the Sargent Institute of Quantitative Economics and Finance.

Zhang Hu on behalf of the Standing Committee of Provincial Party Committee provincial and Municipal Party Secretary Mr. Wang Weizhong, and the Municipal Government congratulated the establishment of Sargent Institute of Quantitative Economics and Finance, and hoped that more and more Professor Sargent like prominent experts and scholars to carry out academic research in Shenzhen. Shenzhen Municipal Government will vigorously support the development of the Institute, and create good conditions of living and working for Professor Sargent and his team in Shenzhen. Shenzhen Municipal Government together with Professor Sargent team, Peking University HSBC Business School will build the Sargent Institute of Quantitative Economics and Finance into an international first-class research institute and make a positive contribution to global economic research.

It is reported that the Sargent Institute of Quantitative Economics and Finance is a subordination of Peking University HSBC Business School led by Professor Sargent. He is now bringing his team to China and recruiting scholars and experts in relevant fields to implement frontier research in economics and finance as well as utilize methods of artificial intelligence and big data in the forecasts analysis of macroeconomic so as to build the Institute to an international first-class top research institution in its fields.

The Institute will not only provide an interdisciplinary research platform for college teachers and students to collect academic resources from home and abroad and enrich the school scientific research strength, but also set up summer camp program to encourage outstanding students to participate in scientific research as well as academic exchanges of economics and finance, promoting idea exchanges and academic exchanges among excellent students worldwide.

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Thomas J．Sargent

Professor Sargent has been teaching successively at University of Pennsylvania (1970-1971), University of Minnesota, University of Chicago, Stanford University, New York University (2003-Now). Since 1970s, Professor Sargent has been the leader of rational anticipated school, making outstanding contributions to the establishment and development of new classical macroeconomics system, carrying out pioneering work on topics of the role of anticipation in macroeconomic, analysis of dynamic economic theory and time series. As referred in Nobel prize citation for Professor Sargent goes, "today, Sargent' s approach has become an indispensable tool in the field of macroeconomic research.".

Dean of Peking University HSBC Business School Mr. Hai Wen said that Sargent is not only the expert of economics, but also has in-depth analysis and study of artificial intelligence, big data, cloud computing and other innovative frontiers. All these contents are highly correspondent to the trends of current domestic economic transformation and development, which can serve the emerging creative industries, speed up the government’s decision-making, accelerate the process of building Shenzhen into a modern international city and international science and technology industrial innovation center. The establishment of Sargent Institute of Quantitative Economics and Finance will also help to enhance the soft power of Shenzhen and provide new ideas and perspectives for the development of Shenzhen think tanks.