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Department of Economics

History and Majors

The economics education of Shanghai Jiao Tong University has a history of over 100 years, it stood out from the very start. As early as 1902, Adam Smith’s The Wealth of Nations translated by Mr. Yan Fu was published by the Translation College of Nan Yang Public School (the predecessor of Shanghai Jiao Tong University) and served as a must-read textbook for students of this institution. The translation of this book is recognized by academics as a landmark that Chinese people began to actively introduce western economics. During the period of Shanghai Polytechnical Specialized College of the Ministry of Transport in 1919, a considerable amount of economics courses had been included in the course of railway management in this school, such as Political Economics, Railway Economics, Business Economics, Economic History, etc., and the class hours of economics accounted for 22% of all courses. And the textbooks were in English in its original form. After that, economics has always maintained a high proportion throughout various stages of school development and the reform of course structure. By the 1930s, a series of modern economics courses, such as Economic Principles, Industrial Organization, and Advanced Economics, had been incorporated in various management majors. The academic research in economics in our university also has a history of nearly 100 years. China Journal of Economics, which was founded in 1924, is quite influential. New Theories of Economics, which was a compilation of outstanding papers, was published in 1931, and Mr. Sun Fo personally wrote its title.

In 1984, economics education was further strengthened after the School of Management of Shanghai Jiao Tong University was resumed. An important symbol is the establishment of the Department of Industrial Foreign Trade. In 1986, with the approval of the Academic Degree Committee of the State Council, the university was allowed to set up a master's degree program in international trade. Since then, it has successively set up master's degree courses in Industrial Economics, Agricultural Economics, Western Economics, etc. At present, it enrolls and trains Master’s degree candidates who major in many fields under the level-1 discipline of applied economics.

In 2001, the Department of Economics and Finance was established after the adjustment of the department. It was awarded the right to confer doctoral degrees in Agricultural Economic Management and Applied Economics in 2003 and 2006 respectively. In 2011, it was approved to set up a doctoral program in the level-1 discipline of applied economics. In 2012, it was approved to set up a postdoctoral research station in applied economics.

In 2006, Antai College of Management changed its name to Antai College of Economics and Management, and it was divided into the School of Economics and School of Management. The School of Economics set up the Department of Economics and the Department of Finance, which was the first time that Shanghai Jiao Tong University officially used the name of the Department of Economics.

In 2009, it was further divided into three departments: Finance, Economics, and Applied Economics.

In 2020, the Department of Economics and the Department of Applied Economics merged into a new Department of Economics. At present, it has two level-1 disciplines of Theoretical Economics and Applied Economics, including macroeconomics, microeconomics, industrial economics, econometrics, urban & regional economics, agricultural economics, experimental economics, labor economics, environment & energy economy, international economy & trade, public economy & service economy, innovation & development economics, China's economic development & policy, etc., forming a complete training system of economics covering the bachelor, master, and doctoral levels.

 

Training Objectives & Faculty

The Department of Economics aims to train senior compound specialized economic management talents with a solid theoretical foundation, systematic professional knowledge and an international vision. Through study, students can master the latest cutting-edge theories and methods in economics in the world and have a profound understanding and analytical ability on the practical issues of China's economic development.

There are 49 in-service teachers in the department, including 19 professors, 15 associate professors and 15 lecturers. 94% of the faculty have doctoral degrees, and nearly half of them are returnees from overseas studies with a doctoral degree. Among the faculty, there are 2 recipients of Special Government Allowances of the State Council, 4 recipients of Talents of the New Century of the Ministry of Education, 1 recipient of the Outstanding Youth Science Fund of the National Natural Science Foundation of China (NSFC), 1 recipient of Leading Talents of Shanghai, 1 recipient of New Talent in Social Sciences of Shanghai, 5 recipients of the Twilight Talent Program of Shanghai, 8 recipients of Pujiang Talents Program of Shanghai, 3 recipients of Twilight Scholars of Shanghai. The current head of the department is Professor Luo Shougui.

 

Theoretical & Practical Research Achievements

Scientific research of the department is solid. Academic research is aimed at international academic frontiers. Practical research serves the significant development strategies of the national and local economies. In the past five years, our teachers have undertaken 3 major projects of the National Social Science Fund of China (SSFC), 1 key project of SSFC, dozens of general projects, youth projects and international cooperation projects of the National Natural Science Foundation of China (NSFC). We have published 487 academic papers in domestic and foreign journals and international conferences, compiled over 60 textbooks and works, and won over 40 scientific research achievement awards at the provincial and ministerial level.

The main journals where papers are published include Economic Research Journal, Management World, Social Sciences in China, Econometrica, American Economic Journal, Journal of Economic Theory, Journal of Economics, Journal of Industrial Economics, World Development, Econometric Theory, Journal of Business & Economic Statistics, Games and Economic Behavior, Economic Journal, Journal of the American Statistical Association, etc.

Some of the awards we have won include 1 first prize, 6 second prizes, 3 third prizes and 1 Youth Achievement Award of the Outstanding Scientific Research Achievement Award of Higher Education Institutions of the Ministry of Education (Humanities and Social Sciences); 3 first prizes and 5 second prizes in Shanghai Outstanding Achievement Award in Decision-making Consulting Research; 5 first prizes, 6 second prizes and 2 third prizes for Outstanding Scientific Achievements Award in Philosophy & Social Sciences at the provincial and ministerial level; 1 Zhang Peigang Development Economics Award; 1 Pushan World Economics Excellent Thesis Award (Youth Thesis Award). The department enjoys a good academic reputation and extensive social influence at home and abroad.

In line with the strategy of the college, we have been actively conducting industry researches. A competitive research team has been established in the retirement & pension industry, new energy power generation industry, AI industry, pharmaceutical industry, physical examination industry, payment industry, and ether-based fuel industry, etc., and extensive research results have been achieved.

 

Student Training & Employment

The department offers systematic and cutting-edge courses for undergraduates, postgraduates and doctoral candidates. Undergraduate courses include Principles of Economics, Intermediate Microeconomics, Intermediate Macroeconomics, Econometrics, Game Theory, Applied Econometrics, Labor Economics, Public Economics, Experimental Economics, Development Economics, International Economic Law, History of Economic Thoughts, International Investment Studies, International Trade Theory & Policy, etc. Postgraduate courses include Advanced Microeconomics, Advanced Macroeconomics, Advanced Econometrics, Industrial Organization Theory, Regional Economics, Research on China's Economic Issues, etc. The department has excellent teaching quality and won 1 first prize and 1 second prize of national teaching achievements.

Students who are trained with strict academic standards and professional economics knowledge are highly competitive in their further study or employment. In recent years, many undergraduates have gone to top universities in the world to pursue their master's or doctoral degrees, such as Massachusetts Institute of Technology, Columbia University, University of California, Berkeley, Cornell University, Carnegie Mellon University, University of Southern California, University of Rochester, New York University, Boston University, London School of Economics and Political Science, HEC Paris, University of Technology Sydney, Nanyang Technological University and many top universities in China.

Graduates have good employment prospects, and most of them work in key industries or departments of the national economy. Some employment destinations for graduates in recent years include China Financial Futures Exchange, China International Capital Corporation, China Banking and Insurance Regulatory Commission, Bank of Communications (Headquarters), Shanghai Stock Exchange, Shanghai International Group, ExxonMobil (China) Investment Co., Ltd., McKinsey & Company (Shanghai), Morgan Stanley (Shanghai) Co., Ltd., Bosera Asset Management Co., Ltd., Shenyin & Wanguo Securities Co., Ltd., Guotai Junan Securities Co., Ltd., Haitong Securities Co., Ltd., China Pacific Insurance (Group) Co., Ltd, PricewaterhouseCoopers, Deloitte, KPMG, Ernst & Young and other famous enterprises, as well as universities, research institutions and government agencies such as Tongji University, East China Normal University, Shandong University, Chinese Academy of Social Sciences, Shanghai Academy of Development and Reform, National Development and Reform Commission, Research Office of Beijing Municipal Committee of CPC, Shanghai Science and Technology Committee, Shanghai Agriculture Committee, and Organization Department of Shaanxi Provincial Committee of CPC.