Nobel Laureate in Economic Sciences Prof Christopher Pissarides Speaks at HKUST

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Prof Pissarides addressing the audience

HKUST President Tony F Chan (left) and Prof Pissarides in dialogue

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21/03/2011 2010 Nobel Laureate in Economic Sciences Prof Christopher Pissarides Speaks at HKUST The 2010 Nobel Laureate in Economic Sciences, Prof Christopher Pissarides, shared his wisdom on labor market equilibrium at the UC RUSAL President's Forum organized by the Institute for Advanced Study of the Hong Kong University of Science and Technology (HKUST) today.

Prof Pissarides spoke on "Equilibrium in the Labour Market with Search Frictions" - discussing the research that won him the 2010 Nobel Prize with two other scholars - Prof Peter Diamond of MIT and Prof Dale Mortensen of Northwestern University. He then had a dialogue with HKUST President Tony F Chan on his personal approach to academic research and world affairs, sharing insights with a general audience comprising mainly faculty and students.

Prof Pissarides is a Norman Sosnow Chair in Economics at the London School of Economics and Political Science, and the Marfin-Laiki Chair in European Studies at the University of Cyprus. He specializes in the economics of unemployment, labor market theory, labor market policy, as well as growth and structural change. He has written extensively in professional journals, and his book Equilibrium Unemployment Theory is standard reference in the economics of unemployment.

He is the current President of the European Economic Association. He is also an elected Fellow of the British Academy, the Econometric Society, and the Society of Labor Economists.

Outside academia, Prof Pissarides has served as an external member of the Monetary Policy Committee of the Central Bank of Cyprus, and on the European Employment Task Force. He has been a consultant on employment policy and other macroeconomic issues for the World Bank, the European Commission, the Bank of England, and the OECD.

"As a world-class university and a place where great minds converge and synergize, we treasure every opportunity to meet and learn from academic and community leaders of international repute. We are honored by the presence of Nobel laureate Prof Pissarides, from whom I am sure the HKUST community has gained abundant insight and inspiration. On behalf of the University, I would like to thank UC RUSAL for their generous support in this and a variety of other educational and research endeavors. This Forum is one of the major activities that mark our 20th Anniversary this year," said HKUST President Tony F Chan.

The UC RUSAL President's Forum is sponsored by UC RUSAL, the world's largest producer of aluminum, and organized by the HKUST Institute for Advanced Study, to bring the world's most renowned speakers to Hong Kong, be they international politicians, businessmen, scholars or scientists, to share their success stories and their solutions to global challenges.

About the Hong Kong University of Science and Technology

The Hong Kong University of Science and Technology (HKUST) (www.ust.hk) is a top-ranked university in Asia. Established in 1991, HKUST has five schools - Science, Engineering, Business and Management, Humanities and Social Science, as well as the Fok Ying Tung Graduate School in Nansha, Mainland China.

Currently, there are about 6,000 undergraduate students and 3,500 postgraduate students. As a research university, HKUST focuses on five areas of frontier research - nano science and technology; biological sciences and

biotechnology; electronics, wireless and information technology; environment and sustainable development; as well as management education and research.

About the HKUST Institute for Advanced Study

The HKUST Institute for Advanced Study (IAS) is dedicated to the advancement of knowledge to meet the great challenges of the 21st century. It aims to bring together the most brilliant minds to drive cutting-edge discovery and scholarship, and to be a premier intellectual center and a platform for innovation and scientific development in Hong Kong and the Greater China region. Since is establishment in 2006, it has sponsored some 150 distinguished lectures, seminars, conferences and workshops. Guest speakers include Nobel laureates, members of national academies, world renowned academics and researchers, senior government officials, and business leaders.

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About UC RUSAL

UC RUSAL (www.rusal.com) is the world's largest aluminum producer, accounting for about 10% of the world's production of aluminum and alumina. The company employs about 76,000 people in 19 countries across 5 continents. It markets and sells its products primarily in the European, Asian and North American markets, and its ordinary shares are listed on the Stock Exchange of Hong Kong (Stock Code: 486). Meanwhile, global depositary shares representing UC RUSAL's ordinary shares are listed on the professional compartment of Euronext Paris.

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