From April 5th to April 7th 2016, invited by Dr. Lou Shiyan, Associate Professor and Coordinator of BAE Program, Dr. Liu Yi, Researcher of the Guangdong Academy of Social Sciences gave a speech on the Macroeconomic topic “Money Growth and Inflation” for BAE 2015 and BBA 2015 students.

Dr Liu Yi completed his doctorate degree in Nankai University and ever since he has been responsible for research in economic social affairs. Dr. Liu conducted intensive research regarding Hong Kong and Macao Affairs, Population Economics, Labour Economics, Income Distribution, Consumption and Inequality. Last year, Dr. Liu has finished a research regarding inflation.

Started with issues closely relevant with students, Dr. Liu Yi talked about food prices, students’ living expenses as well as the fifth series of 100-yuan banknote issued in November 2015. Before drawing forth the major topic - inflation, Mr. Au discussed why the Government would not issue high-value banknote in light of the market has long been expecting the introduction of 500-yuan and 1000-yuan banknote. Dr. Au addressed the six areas including inflation, the basics of currency, the quantity theory of money, the seignior age of gold and silver coins, inflation and interest rates, nominal interest rate, demand for currency and social cost of inflation. Combined with the theories, Dr. Au focused the discussion with his research into Macau’s inflation and the local phenomena regarding inflation. Through building the social model, Mr. Au explained the reasons of the phenomenon and the social cost brought.

Dr. Au’s seminar has been very practical, vivid and close to everyday life. It also linked theory with practice and fulfilled the teaching schemes of the two bachelor programs. The research method was based on quantitative economics and on in-depth analysis with real life examples. The seminar realized the teaching objectives and has been well rated by the students who gained a deeper understanding of the topic.