About WISE

Xiamen University (XMU) has long been an institution for economic studieswith an inspiring history. Established in 1921, the School of Business quickly developed into the Department of Economics of Xiamen University in 1923,becoming one of the earliest departments of economics in the country. It enjoyed rapid and solid development under the guidance of Professor Wang Yanan, the late president for 19 years whose unremitting effort and determination brought the Department of Economics, then the School of Economics, to the top of its peers.


At present, the School of Economics of XMU hosts five national key programs recognized by the Ministry of Education-- Accounting, Finance & Banking, Political Economics, Public Finance and Statistics; two key research centers in social sciences, the Center for Accounting & Development and the Center for Macroeconomics Research; a national center for economic studies & training, and a Base for Innovations in Philosophy and Social Sciences which is a  “985 Project (II)” for “Macroeconomic Analysis & Forecasting” project.


Over time, the economics programs have gained national reputation and enjoyed its prominence as a leading national center. The establishment of Wang Yanan Institute for Studies in Economics (WISE) in 2005 signified XMU’s determination to maintain its position as a national leading institution and aspire to become regional international center for research and teaching excellence.


The “Macroeconomics Analysis & Forecasting” project was launched in 2005 as the result of Ministry of Education sponsored “985 Project” (II) project “Innovations in Philosophy and Social Sciences” which ushered in the Wang Yanan Institute for Studies in Economics (WISE). WISE has set up its intermediate or long-term targets aiming to achieve teaching and research excellence and lay down a solid foundation for further development to become a regional research center of international standard. WISE is particularly inspired to achieve the following:

  • Publication of research results in top domestic and international academic journals in economics and finance;
  • Enhancing curriculum in economic studies at XMU, including Econometrics, Finance, Macroeconomics, Labor Economics and Political Economy;
  • Striving to excel WISE in research and nurture a team of young economists and econometricians with academic leadership;
  • Taking up “think tank” role to provide first-class policy analysis and consultancy national and regional governments;
  • Establishing itself as an influential regional center in Asia-Pacific for international academic exchange in economics and finance.

WISE has successfully gathered a group of international scholars in its leadership core including   Professor Luolin Wang, a distinguished economist, as Honorable Dean, Professor Yongmiao Hong from Cornell University, and an influential advisory board, among them are Professor Gregory Chow, Emeritus professor from Princeton University, Sir Clive W. J. Granger, 2003 Nobel Laureate from University of California San Diego,  Professor Jerry A. Hausman, from Massachusetts Institute of Technology (receiver of the John Bates Clark Award from the American Economics Association in 1985); Professor Cheng Hsiao, from University of Southern California and editor of Journal of Econometrics, and Professor Lawrence Klein, 1980 Nobel Laureate from University of Pennsylvania,etc.


In addition, WISE has appointed several part-time chair professors including Professor Cheng Hsiao from University of Southern California, Professor Zongwu Cai from University of North Carolina and Professor Maozu Lu from University of Southampton of the UK, who take responsibility for Master and PhD’s compulsory courses including Panel Data Econometrics (Cheng Hsiao), Macroeconometrics(Maozu Lu), Microeconometrics (Cheng Hsiao) and Methodology of Economics and Applications(Zongwu Cai) which have already gained popularity among students. In 2006, WISE appointed five additional full-time faculty members who have gained their PhD and work experience in North America and Europe. WISE is expecting to recruit more high quality faculty members in the coming years.

WISE has since set up six academic research institutes including the Center for Econometrics Research, the Center for Financial Research, the Center for Research in Labor Economics, the Center for Statistics Research, the Center for Macroeconomics Research and the Center for Econometrics Research.





Founded in 1921, the Department of Economics at XMU obtained national prestige during the chairmanship of Professor Wang Yanan, a former president of the University, who translated Adam Smith’s Wealth of Nations and Karl Marx’s Das Kapital into Chinese. Sixty years later, the department was upgraded to the School of Economics (SOE). With the goal of building the economic discipline of Xiamen University into a first-class teaching and research center for modern economics, the SOE is committed to establishing an elite faculty that is highly acclaimed for its academic competence. Thanks to our talented faculty members, more than 3,000 students are connected to cutting-edge knowledge and a state-of-the-art education. Ever since its establishment, the SOE has not only maintained its leading edge in economic research in China, but has also forged ahead towards its goal of being an internationally recognized center for teaching and research. In addition, the school serves as a “think tank,” providing first-class analysis and consultancy for local and national development.


The SOE at a Glance


·  First school of economics established in China; ranked among the top five schools of economics in China

·  8 teaching and research units including 5 departments, the Institute of Economics, the Center for Macroeconomic Research,and the Center for Energy Economics Research

·  1 Basic Talent Training Base of State Economics; 1 Key Research Base of Humanities and Social Sciences (established by the Ministry of Education); the first interdisciplinary key laboratory for arts and sciences; Laboratory of Econometrics (established by the Ministry of Education); 1 State Demonstration Center for Experimental Teaching

·  5 Class B National Key Disciplines: Statistics, Public Finance, Finance, Political Economics, and World Economics. One of three universities to be honored with 2 Class A National Key Disciplines in mainland China: Theoretical Economics and Applied Economics

·  11 undergraduate majors, 30 postgraduate majors, and 28 doctoral majors

·  176 full-time faculty, 62 professors, 62 associate professors, 60 doctoral advisors, and 18 post doctoral researchers

·  2,537 undergraduate students, 682 postgraduate students, and 221 PhD candidates

·  3 national-level prizes for teaching achievements, 7 national-level quality courses, 5 national-level special majors, and 1 national-level excellent teacher

·  According to the Tilburg University Worldwide Economics Schools Research Ranking (2011), the economic discipline ranked among the top 20 in Asia and ranked 3rd in China in the number of published papers in prestigious international publications (2005-2009)




Our Faculty


The SOE’s leading position in academics is largely attributed to our highly rated faculty whose quality and expertise have helped to create a stimulating academic environment. In recent years, a cohort of outstanding PhD holders from overseas research institutions have become an essential component of the school’s teaching and research strength. Their unremitting efforts and excellence have earned them various titles, including Thousand Talents Program Participant, National Distinguished Contributor, Chang Jiang Scholar, Winner of National Natural Science Funds for Distinguished Young Scholars of China, and New Century Excellent Talent in University, among other awards.


Academic Research    


The SOE has actively encouraged its faculty members to present their research results in various ways, one of which is publishing in leading journals. As an important indicator of academic level, research papers have been highly valued by the SOE. In recent years, the number of published articles by SOE faculty in prestigious international and domestic journals has sharply risen. From 2006 to 2010, there were 12 articles accepted by SCI and 14 accepted by SSCI, including publications in the Journal of American Statistical AssociationJournal of EconometricsJournal of Financial EconomicsReview of Financial Studies, and Econometric Theory. Furthermore, over 1,000 articles were accepted by CSSCI and 34 of these were published in top Chinese periodicals, including Social Sciences in China,Journal of Economic Research, and Management World.


In addition to publishing articles, faculty members are also engaged in various national research projects. Since 2006, the SOE has undertaken 40 projects funded by the Social Science Foundation of China and 32 projects funded by the Natural Science Foundation of China (NSFC). Meanwhile, several breakthroughs have been made in key national social science projects. These accomplishments have led to a significant increase in funding.


Our International Exchange


The SOE endeavors to provide a platform for international exchange and facilitation for academic collaborations under the theme of “internationalization.” Since 2005, the SOE, in association with the Wang Yanan Institute for Studies in Economics (WISE), has hosted several notable international academic conferences, including “The 14th International Conference on Panel Data,” “International Symposium on Econometrics of Specification Tests in 30 Years,” “Asia-Pacific Regional Meeting of the Economic Science Association,” “CES Conference,” and “High-level Forum of Nobel Laureates.” Hundreds of eminent scholars from across the globe have been welcomed to deliver speeches at these conferences. In addition to inviting notable scholars to visit our school, the SOE is also active in sending out scholars to take part in joint research projects, further their studies, and or attend various international research conferences.


The SOE aims to endow students with global perspectives. To this end, the school has created various exchange student networks and maintains close and friendly relations with world-renowned educational institutions by conducting bilateral and multilateral cooperation.


Our Students


Students are an invaluable asset to the school and we are extremely proud of their accomplishments. The SOE recruits top students in terms of learning ability and academic achievements. Most students are admitted with high college entrance exam scores and leave equipped with the tools for success in all kinds of fields. Their assiduous efforts and our student-centered focus combine together to render graduates with high distinction among their peers.


Our graduates include China’s prominent leaders in governmental, business and academic sectors and are sought after by the leading professional employers. Sixty percent of Xiamen University graduates employed by Fortune 500 companies are graduates of the SOE. The extensive alumni network enjoyed by the school has helped it to forge relations with a wide range of industries. Consequently organizations across the nation are keen to employ our graduates.


In 2010, the SOE cooperated with the University of North Carolina at Charlotte, University College Dublin, the University of Cincinnati and the University of Adelaide to establish Study Abroad Programs. For the very first time, students from the SOE were offered the chance to experience a western education during their undergraduate studies, obtaining double degrees from their home institution and overseas universities. These students have integrated into the local cultures in their host countries and have excelled academically and professionally in their new environment.


International students are another treasure of the SOE. Currently, there are over than 50 international students from different countries studying at the SOE and their presence adds an important intercultural dimension to life here. Most of these students are recipients of national scholarships. Joining with their Chinese counterparts, these international students acquire knowledge and challenge themselves by putting what they learn into a real-world setting.