Distinguished economists Prof. Sir James A. Mirrlees and Prof. A. Michael Spence delivered public lectures to an audience of close to a thousand at the invitation of The Chinese University and Sun Hung Kai Properties on 9th November 2004.
Prof. Sir James A. Mirrlees and Prof. A. Michael Spence, Nobel Laureates in Economic Sciences for 1996 and 2001 respectively, were invited by The Chinese University and Sun Hung Kai Properties to deliver public lectures under the Sun Hung Kai Properties Nobel Laureates Distinguished Lectures programme, made possible by a donation from Sun Hung Kai Properties. The programme aims at introducing top-notch scholars to the Hong Kong public, promoting professional and entrepreneurial expertise, and encouraging scholarly pursuits. The lectures took place at the Grand Hyatt.
Prof. Sir James A. Mirrlees spoke on 'Ageing and Pensions in the Chinese Economies' and Prof. A. Michael Spence discussed 'Economic Growth, the Internet, and the Evolving Structure of Global Markets: Opportunities and Challenges'. The lectures attracted a full house of close to 1,000 people, including government officials, and members of the academic, education, and business sectors. During a question and answer session, the two masters also expressed their views on the Hong Kong taxation system, and the future of the Hong Kong and the mainland Chinese economies.
On 11th November, the two Nobel Laureates met with some 300 students from secondary schools and universities in Hong Kong and shared with them their experiences and learning tips.
Prof. Mirrlees is currently distinguished professor-at-large at The Chinese University. A trailblazer in information asymmetry in economics, his work provides practical solutions to problems in insurance markets, credit markets, auctions, internal organizations of firms, wage structure, tax systems, social insurance, political institutions, and so on. He also has profound knowledge of the development of the Chinese economy.
Prof. Spence is professor emeritus of Stanford University. A founder of signalling in economics, Prof. Spence's pioneering model has found applications in various fields, in particular corporate governance.