"Principles of Economics: Chinese Perspective" includes two volumes: "Principles of Macroeconomics: Chinese Perspective" and "Principles of Microeconomics: Chinese Perspective". It is a set of economic textbooks guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and rooted in the great practice of socialism with Chinese characteristics and China's basic economic operation mechanism.
set of books takes the great achievements of China's economy and society since the founding of the People's Republic of China as material. With the help of basic economic analysis tools, it demonstrates the principles of contemporary economics from both macro and micro aspects, and strives to reflect the background color of Marxist political economy.
is different from traditional Western economic textbooks. This set of books strives to interpret the basic concepts and important theories of economics within the framework of Chinese economic practice, break through the "two-in-one" framework of the government as the "night watcher" of residents-enterprise, build a "three-in-one" macroeconomics and the operating model of microeconomics, and establish a development-driven model of "combining effective government and effective market, coexisting state-owned economy and private economy, and interacting with the top-level design of the central government and local cooperation and competition".
Author profile
Yu Hongjun, Ph.D. in economics, a distinguished professor at Peking University, a doctoral supervisor at Guanghua School of Management, chief expert of major bidding project of National Social Science Fund , host of the national high-quality course " Microeconomics ", Central Propaganda Department cultural masters and " four batches of " talents. He serves as the director of the Department of Economics and Management of Peking University and the sixth and seventh vice chairman of the Beijing Federation of Social Sciences. He is mainly engaged in teaching and research in microeconomics, new institutional economics, international finance and management, regional economics and corporate governance. Based on the basic principles of institutional economics, he proposed the "two-wheel drive theory" of systems and emotions in organizational management. In recent years, with the economic history of major countries in the 20th century as the background, the role of the planned economic system and the market economic system in resource allocation has been deeply studied and analyzed.
Yu Miaojie , is currently the deputy secretary of the Party Committee and president of Liaoning University, the special professor of Changjiang Scholars of the Ministry of Education, the special professor of Boya of Peking University, the recipient of the National Outstanding Youth Science Foundation of , an outstanding young scientist in Beijing, a Ph.D. in economics at the University of California, Davis, USA, and an economist in the top 1% of global economic management; Executive editor of "International Trade" Journal of Chang'an University, and deputy editor-in-chief of Review of International Economics . His main research areas are international trade and China's economic development. He has published more than 150 papers and 22 first-class domestic and foreign journals such as Economic Journal, Review of Economics & Statistics, Journal of International Economics, Journal of Development Economics, and " Economic Research " and other first-class domestic and foreign journals. His research on China's economic development has won the Royal British Economics Award, the 7th Wu Yuzhang Humanities and Social Sciences Award, etc.
Book reviews
Chen Zhuoyu, Han
Doctoral student in economics at the National Institute of Development, Peking University 2021 PhD in Economics
After the great discovery of the geographical discovery, the relatively isolated state between continents was broken, transnational trade and global financial activities emerged, and the world became increasingly a closely linked whole, resulting in early international economic theories such as Mercantilism . After World War I and World War II , with the development of economic globalization, production and economic activities in countries around the world are becoming increasingly close, and international open macroeconomics is in full swing and becoming an important part of macroeconomics.
"Principles of Macroeconomics: China's Perspective" Chapter 14 Based on the previous trade theory, it introduces the definition, influencing factors, exchange rate system and international financial system of the exchange rate . Combined with recent hot events, it sorted out China's exchange rate system and my country's exploration process in enhancing international influence and promoting the internationalization of the RMB.
Section 1 introduces the basic concepts in the foreign exchange market, long-term exchange rates and short-term exchange rates. The performance of the USD index during the 2020 COVID-19 epidemic proves the impact mechanism of the relative expected rate of return of assets on short-term exchange rates. Section 2 introduces the four major determinants of the exchange rate, namely domestic and foreign interest rates, trade barriers, , import and export demand and production capacity, and analyzes it in combination with the internationalization path of RMB under the "Belt and Road" initiative. Section 3 introduces how the fixed exchange rate system, floating exchange rate system and central bank reasonably interferes in the foreign exchange market, and sorts out the evolution process of RMB exchange rate system in detail and looks forward to the future development prospects of digital currency . The whole chapter is full of flowing content, with both theoretical and realistic emphasis on. While introducing me to the relevant definitions, influencing factors and systems of exchange rate, it has enhanced my understanding of the country's exchange rate system and the evolution of the country's exchange rate.
Among them, what impressed me the most was the discussion in this chapter on the changes in the international financial system and how to promote the internationalization of the RMB under the existing system. The content of this chapter gave me a deeper understanding of the existing economic data and economic facts. After in World War II, Europe and Japan declined due to the war, and the United States became the well-deserved economic overlord within capitalist camp , establishing the Bretton Woods system based on the US dollar and gold. However, due to the decline in US gold reserves and the existence of the "Triffen" problem, the Bretton Woods system collapsed in 1976 and the Jamaican system was established. Although this system recognizes the floating exchange rate system, abolishes the official pricing of gold and allows members to trade special draw rights , it is still dominated by the United States, Japan and Europe as the core, and the vast majority of developing countries are at the edge, which is inconsistent with the current situation of the continuous improvement of economic status of developing countries. Therefore, the existing global financial governance pattern has problems such as insufficient voting rights in emerging economies and inconsistent governance concepts to meet the national conditions of developing countries. Developing countries such as China need to actively speak out and enhance their international influence in currencies. Based on its own history and resource endowment, China has given the Chinese solution to this era, that is, to actively enhance the international influence of the RMB while building the "Belt and Road". As of the end of 2020, China signed more than 200 "Belt and Road" cooperation documents with 145 countries and 32 international organizations, signed bilateral local currency swap agreements with 22 countries along the route, and established a RMB clearing mechanism arrangement in eight countries along the route. With China's continuous efforts, many economic and trade cooperation, infrastructure investment, and industrial park construction along the route are denominated and settled, and countries along the route also hold a certain amount of RMB for investment.
Overall, I think this is an excellent macroeconomics textbook. It combines specific cases in my country to impart economics knowledge and introduces important conclusions in macroeconomics in an easy-to-understand manner. After reading it, it can often bring me endless thoughts.
extended reading
Professor Yu Miaojie and Professor Yan Ping's team published papers in Economic Science
Professor Yu Miaojie and Professor Sheng Liugang in the international core English journal Review of International Economics Published papers
Professor Yu Miaojie and Master Student Ji Yu published papers in Journal of Xinjiang Normal University
Professor Yu Miaojie was listed in the top journals in economics The Economic Journal "The Most Influential Articles Since its Founding" and "The Most Influential Articles in the Last Ten Years"
Yu Miaojie | China's notable economic growth over the past decade 6
Yu Miaojie's notable economic growth over the past decade 6
| Chinese enterprise Foreign direct investment |
Yu Miaojie Tian Wei
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