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Theoretical Economics

I Profile, Advantages and Characteristics of Disciplines
Western Economics, divided into two branches of Microeconomics and Macroeconomics, is a discipline designed to study economic resources and allocation. Microeconomics focusing on studying the economic behavior of individual economic subject is a series of inter-connected theories, which illustrate how price mechanism serves to address the problem of economic resource allocation with the adoption of micro-analysis method through conducting a research in an individual economic subject’s economic behavior and mutual connection under the circumstance of market economy. Macroeconomics, which mainly studies national economic performance, is a series of interconnected theories serving to explain by adopting macro-analysis method how resources can be fully utilized with the determination of national income at the core. Theories, analytical method and applied research of western economics set a good example for China’s economic restructuring and development.

Distinctive research directions have been formed in CSU such as microeconomics theories and application, macroeconomics theories and application as well as econometric modeling and application and the like through making Western Economics keep a foothold in the leading edge of economic majors and serve the society and national economic development. In these directions, a series of scientific research programs under this major have been undertaken at national and provincial level or university-enterprise cooperation. Many research outcomes have been applied to the practice with good social benefits produced and have become the foundation for the government to formulate economic policies. With qualified faculties in Western Economics in CSU, this major is, to some extent, advantageous and distinctive in our country.

ⅡCultivation Objectives
The discipline aims to cultivate high-level specialized talentsof Western Economics with all-round development in morality, intelligence and physique. They are required to boast a firm and right direction in politics, master general principles of Marxism, foster a correct outlook on the word, life and values and abide by the laws and disciplines with a strong sense of social responsibility, fine moral character and academic achievement. 
Meanwhile, they should have a solid knowledge of basic theories of Western Economics, familiarize themselves with theoretical frontiers of contemporary western economics and master research method of western economics with the basic ability of mathematic analysis and metric research. They should master a foreign language, read economic documents with dexterity and have the ability to engage in primary international academic exchange. After graduation, they should be qualified for teaching and research of Economics as well as engaging in practical work relevant to economy. 
Master degree shall be conferred under this discipline.

Ⅲ Main Research Fields
1. Theories and Development of Microeconomics
Main research contents: Microeconomics’ development history, development tendency, main frontier theories, including game theory, Information Economics, X efficiency theory, property theory, rent-seeking theory, theory of the firm, theory of public choice, etc.
2. Theories and Development of Macroeconomics
Main research contents: Macroeconomics’ development history, development tendency, main frontier theories, school and research method, including rational anticipatory theories, modern economic growth theories, unemployment theories, monetarism, inflation theory and relevant economic policies, etc.
3. Modern Economic Theories and CurrentEconomic Issues
Main research contents: study frontier theories and analysis methods of modern Western Economics, a deliberation of drawing on modern western economics theories for China’s economic reform and development, including the development of theories and application of economics, theories and application of new institutional economics, property theories and application, corporate theories and application, rent-seeking theories and application, theories and application of public economics, monetary theories and application, fiscal tools and application, economics of technological innovation and application, etc.
4. Econometric Models and Application
Main research contents: establish models of Economics, which analyzes economic activities with quantitative analysis approach, applied in economic forecasting, testing of economic theories and appraisal of economic policies, including theories and application of simultaneous equations models, metric models of microeconomics, metric models of macroeconomics, co-integration theory, TS/CS models, metric analysis of unbalanced economy, etc.

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