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Applied Economics

First-levelDiscipline Code and Name: 0202 Applied Economics
Second-level Discipline Code and Name: 020104 Regional Economics
020203 Public Finance (including Taxation)
020204 Finance (including Insurance)
020205 Industrial Economics
020206 International Trade
020207 Labor Economics
020209 Quantitative Economics

ⅠProfile, Advantages and Characteristics of Disciplines
There are seven professional master programs of second-level disciplines under one first-level discipline: Regional Economics, Public Finance (including Taxation), Finance (including Insurance), Industrial Economics, International Trade, Labor Economics and Quantitative Economics.

(1) Regional Economics
Regional Economics is an economic discipline, which studies economic development in different regions within a country and inter-connected areas from a macro perspective. Formed on the basis of economic geography, productivity landscape, investment economy and urban economy, it bears close association with National Economics and Regional Economics. Particularly it is of vital importance to China with a vast territory and unbalanced regional development. In recent years, regional economic research in China plays a significant role in the establishment of a unified and open market economy and promoting balanced regional development.

Regional Economics researchers in our school have long been engaged in theoretical exploration and applied research in Regional Economics and relevant disciplines, undertaken and presided over state and provincial key research programs and made a batch of excellent theoretical achievements when in-depth research has been carried out in cross-province economic zones, urban economic zones, basin economic belt and regional economy at the province-prefecture-city-county level. They have put forth some valuable and accepted suggestions and countermeasures about regional development, as well as formed notable advantages and characteristics of disciplines, characterized by practice and application. Some advantageous research orientations under this major characterized by forwardness and comprehensiveness have been launched according to the new disciplinary development trend of an urgent need to cultivate interdisciplinary talents for knowledge-based economy and economic construction.

In terms of teaching and scientific research, interrelated disciplines of this major are National Economics, Industrial Economics and Population Economics and the like.

(2) Public Finance(including Taxation)
Public Finance is an applied theoretical science, which explores government expenditure and revenue and its economic laws as well as operation mechanism. It focuses on the study of theories, institution and management methods by the government sectors in collecting and using the fund as well as studying the tax issue born in the process of corporate production and management. Public Finance is a comprehensive discipline with its uniqueness because the government finance is a reflection and constraint of national economic landscape as well as the very major is a combined result of many sciences.

There are always fiscal phenomena and problems everywhere in our social and economic life from people’s basic necessities of food, clothing, shelter and transportation to the political activity and economic construction of the country. Public Finance refers to each sector of the government, enterprises, public institutions, unit and individuals under the national economy. Mastering Public Finance is conducive to studying in-depth varied economic issues in a comprehensive way and better understanding the behavior of the government and coordinating with the government policies.

By keeping pace with the times and relying on the University of Science and Engineering, Public Finance of CSU has formed its own research characteristics in fields such as government procuring, government financing, information-oriented decision making, empirical study of fiscal policies and state-owned asset evaluation with research outcomes accepted by many local governments and producing tremendous social and economic benefits.

(3) Finance
Finance is a comprehensive discipline designed to study monetary and capital movement, theories and methods of resource allocation and macro-regulation in all fields of economic activities, characterized by theory and practice, micro and macro, nationality and internationality. It has a significant impact on national and global economic operation as well as holistic development of the society. The very discipline has been formed by adjustment on the basis of Monetary Banking, International Finance, Investment and Insurance. With continuous development of China’s economic and financial restructuring and introduction of advanced financial theories and methods, professional teaching and research contents of Finance in China have been constantly enriched and expanded with vast development prospect.

Distinctive research directions have been formed in the major of Finance during the instruction, scientific research and cultivation of graduates such as monetary and financial theoretical study, SMEs financing theories and practice, behavior financial theories as well as futures and options and the like by keeping a foothold in the frontier of Finance and serving the development of society and national economy. A series of scientific research outcomes have been achieved in many programs undertaken under this major such as State National Sciences Fund, National Social Sciences Fund, national research projects including key research programs in human society of the Ministry of Education and a series of cooperative scientific research programs with financial institutions. This specialty has a superior research basis and platform like Securities and Futures Research Center, SMEs Financing Research Center and Financial Innovation Research Center. With qualified faculties, this major has been equipped with simulation securities and futures trading laboratories and a series of empirical research database, and some research fields have leading-edge disciplinary advantages and characteristics in China.

(4) Industrial Economics
Industrial Economics is an applied economic discipline, which studies the organization, structure, management, policy and development laws of the industry in economic fields. Basic contents of Industrial Economics are industrial foundation theories, industrial structure theories, industrial relative analysis theories, industrial organization theories, industrial development theories and industrial policy analysis. In a narrow sense, Industrial Economics can also be called Industrial Organization. Industrial Economics is closely associated with Microeconomics, which focuses on basic economic theories while Industrial Economics emphasizes practical application.

Researchers of Industrial Economics in CSU have long been engaged in theoretical exploration and applied research of service industries such as corporate theories, industrial economy, real estate economy and golf course administration, etc, participated in and presided over many national and provincial research programs in industrial economy and made research achievements of high academic value.

Characteristics of Master program of Industrial Economics in CSU are: (1) emphasizing the research of special phenomenon and formation principle of regional industrial economy; (2) Carrying out comprehensive research in varied disciplines and from multiple perspectives in theories of corporate efficiency; (3) continuing to track the frontier field of theoretical research in real estate economy; (4) encouraging interdisciplinary research between Resource Economics, Project Evaluation Theory and Industrial Economics.

(5) International Trade
International Trade is a highly practical discipline designed to study theories and methods of exchanging goods and service among countries (regions) with close integration of theories and practice. With close association with World Economics, Finance and International Law and other disciplines, International Trade plays a significant role in promoting international economic exchange and cooperation and facilitating economic development of among counties all over the world. Under the context of increasing global integration, International Trade boasts vast development prospects. With in-depth implementation of China’s opening policy, the status of International Trade has been greatly improved with much progress made in the study of International Trade theories. This discipline will make contribution to enhancing economic connection between China and the world.

Established in 1993, International Trade has built a reasonably structured academic echelon and well-qualified faculties in the prime of life during the process of teaching and scientific research. With research orientations closely connected, they continue to carry out a leading-edge follow-up study and pioneering research and have particularly achieved research outcomes, whose theoretical and practical meaning have earned them a place in the academic circle among peers. A few distinctive characteristics are the following: Firstly, establish the strategy of foreign trade development at a medium and high level of the region and industry, and deliberate general rules of the development of regional economy and foreign trade; Secondly, a cross-penetration of social sciences and natural sciences with a combination between qualitative analysis and quantitative analysis; Thirdly, supported by Institute of Engineering and industries, study the international competitiveness of industries, on which decisions of enterprises and government departments have to be based.

(6) Labor Economics
Modern Labor Economics is a science, which researches into the phenomenon and operation laws of the labor market, covers a lot of ground in terms of allocation of labor resources, operation of labor market, employment and unemployment, labor relations and international service cooperation and the like as well as compares similarities and differences of employment systems among countries and their impact on the labor market. As an important branch of Theoretical Economics, this specialty has close relationship with Theoretical Economics, Management Economics, Economic Mathematics, Social Security and Economic Law, etc and is also a highly practical Applied Economics, which possesses a prosperous future in the socialist market economic system, provides theoretical basis for the government’s labor market policies and corporate stimulation mechanism as well as plays a significant role in analyzing and grinding out solutions to the practical problems cropping up in employment of labor force, social security and corporate personnel management.

As the base of training Human Resource Manager in Hunan, School of Business has ten-year history of systematic research into Labor Economics and many years of experience in training undergraduate, graduate and doctoral talents of relevant majors with favorable conditions in experiment and library facilities. It has built a reasonably structured academic echelon and well-qualified faculties in the prime of life during the process of teaching and scientific research with three distinctive research orientations established in terms of the labor and employment theories and policies, human resource development and resource management as well as social security. Programs undertaken include state-level research programs including National Social Sciences Fund and a series of research programs above the provincial and ministerial level as well as scientific and research projects through the form of school-enterprise cooperation. Achievements have been made in the proceeding frontier follow-up research, which makes great contributions to the economic construction.

(7) Quantitative Economics
As a perfect combination between Economics, Mathematics and Statistics, Quantitative Economics is a discipline designed to study quantitative relations and variation laws of the phenomenon of social economy with the comprehensive and interdisciplinary nature. Through decades of rapid development, it has penetrated into all research fields of Economics and has become one of the major methods of economic analysis. There exist a large amount of stochastic phenomena in social economic life, thus one of the significant development trend of modern Quantitative Economics is the randomization of quantitative economics models. Probability theory of CSU, particularly MarKov Process, which researches into the quantitative relations of random economic phenomena with varied advanced mathematical tools of probability theory and mathematical statistics has the leading position in the world and earns the master program of Quantitative Economics of CSU a notable advantage and distinctive features as well as achieves fruitful results in economic fields such as Mathematical Finance, Ecological Economics and Insurance Theory.

ⅡCultivation Objectives
The specialty aims to cultivate high-level professional talents, who adhere to the Four General Principles and reform and opening up policy as well as have rigorous and realistic ideological style and high cultural achievement with all-round development in the intelligence, morality and physique, and endeavor to serve the construction of socialism with Chinese characteristics.

(1)Regional Economics
Master fundamental principles of Marxism, Mao Zedong Thought and Deng Xiaoping Theory; adhere to the Four General Principles; possess lofty ideals and fine moral character; take the lead to abide by all laws and regulations and work for the national development, and serve to promote socialist modernized drive; have a rigorous style of study and realistic scientific spirit with healthy bodies and fine mental qualities.

Have a solid knowledge of basic theories of Economics and systematic and professional knowledge of Regional Economics and its branches; Proficiency in applying a foreign language, reading foreign language materials of this specialty and correctly draft the outline of dissertation; Combine theories with practice with the ability to observe and analyze the regional economic issues as well as formulate and implement proposals and policies of regional economic development. After graduation, students should be able to undertake teaching and scientific research of this major and administration work of regional economic at a medium and high level.
A Master’s degree in Economics shall be conferred under this discipline.

(2) Public Finance (including Taxation)
Cultivate high-quality interdisciplinary talent with solid knowledge and skills of Economics and basic theories of Public Finance. Students are required to have a comprehensive and in-depth understanding of fiscal ideas and practical experience from ancient time to the present, master basic theories of the public finance and taxation and familiarize themselves with practices of relevant laws and regulations and policies, state-owned asset management and evaluation and corporate taxation, etc. They should be adept at applying a foreign language, get professional information with it and be proficient in engaging in business with computers.

Graduates will be qualified for public policy research and management work of macroeconomics, including fiscal and economic management work such as government fiscal taxation and financial affairs and the like as well as teaching and research work in the school and scientific research institutes.
Master’s degree of Economics shall be conferred under this discipline.

(3) Finance
This specialty cultivates financial talents who have a solid knowledge of basic theories of Economics and master modern financial principles and systematic financial knowledge; adeptly master a foreign language and read foreign language materials of this major; capable of combining theories with practice with the ability to observe and analyze financial and economic issues as well as implement monetary policies and engage in concrete financial work; master modern financial theories in line with the international level, familiarize themselves with banking management and administration business, securities and futures market, capital market and corporate financial operation and cultivate research-oriented, practical and comprehensive talents who master innovative financial tools. After graduation, they can undertake teaching and scientific research of this discipline and financial management practical work at a medium and high level.

Master’s degree of Economics shall be conferred under this discipline.

(4) Industrial Economics
The specialty is dedicated to cultivate high-level professionals of Industrial Economics with a rigorous and practical ideological style and high academic attainment. Students of this specialty should be capable for engaging in the research of industrial economy on their own and proficient in English listening, speaking, reading and writing as well as embark on management, scientific research and teaching work in all types of enterprises, scientific research institutes and junior colleges.

Master’s degree shall be conferred under this discipline.

(5) International Trade
The specialty is dedicated to cultivate high-level professionals with innovative and pioneering abilities who have rigorous and practical ideological style, master with proficiency basic theories and practical operation skills of International Trade, International Marking, Multinational Corporate Operational and Management, International Investment Financing, Import and Export Trade Practice, International Technology and Service Trade and International Economy and Cooperation and the like. This major requires students to have a solid knowledge of economics and mathematics, adept operational skills of computers and proficient ability of English listening, speaking, reading and writing. After graduation, they can undertake work of operation, management and scientific research and teaching in international economic and trade departments, three-capital enterprise, multinational corporate, international financial agency, scientific research institute and junior colleges, etc.
Master’s degree shall be conferred under this discipline.

(6) Labor Economics
Main research directions of the specialty are Employment Theories and Practice, Human Resource Development and Management and Social Security, whose main research contents include contemporary theories and practice of employment and unemployment, system of statistic indicator of labor market, comparison of international market system, distribution theories and policies of salary and revenue, mobility and migration of labor at home and abroad, intermediary service system of social security, coordination mechanism of labor dispute and treatment, economic analysis of human resource development and management as well as construction and perfection of social security system, etc. The training goal of this specialty is to train and cultivate professionals who can solve the problem of labor force in employment in China, human resource development and management and social security. They are capable for engaging in teaching, research and administrative work in terms of China’s labor economy, human resource development and management and social security, etc in the government at all levels, enterprises and public institutions.

Master’s degree shall be conferred under this discipline.

(7) Quantitative Economics
Postgraduates of Quantitative Economics should master a solid knowledge of basic theories of economics and mathematics as well as varied analytical methods and technology of Quantitative Economics, familiarize themselves with the frontier issues and the latest development of this major and have the ability to independently engage in scientific research; master a foreign language and read with proficiency foreign language professional literatures and write outline of papers with foreign language; master with proficiency basic operational skills of computers and main applied software of Quantitative Economics. Graduates of this major are able to take on the work of economic decision making, economic analysis, teaching and scientific research in the economic sector of the government, enterprises, financial agencies, scientific research agencies and institutes of higher learning.

Master’s degree shall be conferred under this discipline.

ⅢMain Research Fields
1. Regional Economics
2. Public Finance ( including: Taxation)
3. Finance
4. Industrial Economics
5. International Trade
6. Labor Economics
7. Quantitative Economics

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