Uncertainty of Marcoeconomy

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Still confused about the erratic economy?
Ever wonder how the market prices uncertainty which ever grows with time?
Interested in how to tackle the mutable economy with appropriate policies?

Uncertainty is unknown risks, and is ubiquitous in economic activities of human society. Researches of financial markets show that investors not only care about uncertainty itself, but also its variance with time, which makes investors to make radical decisions sometimes, and conservative decisions some other times.   
Because of the unknowable and unpredictable nature of uncertainty, it has always been a hard problem to introduce uncertainty into economic analyses.

Why is uncertainty worth attention? In fact, all aspects of economy are subject to it. Mathematical models can predict when environment changes, when policies change, or when taxes change, when exchange rates change, when monetary policies change, etc. Models are dynamic. they are thus able to capture various variables in economy and handle different problems under different circumstances.

About the speaker:
Recipient of Nobel Prize in Economics in 2013, David Rockefeller Distinguished Service Professor at the University of Chicago, former director of Becker Friedman Institute, member of the National Academy of Sciences, and member of the American Academy of Arts and Sciences.

Professor Hansen is a distinguished scholar researching in the field of economic dynamics. He made great contributions to the research of the inherent relevance of macroeconomy and financial market as well as to the field of time-sequence econometrics.

He worked with 2011 Nobel Prize in Economics laureate Thomas J. Sargent, and groundbreakingly introduced the concept of uncertainty in decision theory and dynamic control theory into macroeconomics and finance, while also established a theoretical framework for systematically analysing how people make decisions when faced with uncertainty and risks, and how uncertaity influences capital asset pricing and economic policy making.

Professor Hansen also put great emphases in developing young economics scholars, and influenced them with his rigorous and rational educational philosophy. His protégés now assume important positions in academic, economic analysis and financial institutions across the world.
Lars Peter Hansen
2017-11-16 19:00:00
2nd floor lecture hall, FIT building, Tsinghua University
Open range
Graduate Union of Tsinghua University
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