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December 29, 2010 is Nobel economic prize winner Ronald coase professor 'birthday (born in 1911). Day is economic research institute in haidian district, Beijing hosted the beauty of the great celebration springs hotel. Professor coase through the video and you say "hello", ZhangWuChang also through the video released a few words of speech. Peking University, tsinghua university and National People's Congress of zhejiang university, the research system economics in a famous scholars and superior coase influences or coase to Chinese economics and the contribution of economic reform. May have been too short, maybe ChangMianHua too much, all in all, I think that day discussion paper and obviously boundless, not deeply mining a due theme: as Chinese scholars should how inherited the thought of coase and will study the new institutional economics and promote the system change combine?

I TianLie guest of seats, but NFL hats for the reasons of the poor weight not, in this is not necessary characteristics of Chinese informal system and speak without qualification. But as a study of new system economics Chinese scholar, I'm new institutional economics in China in the international academic community and spreading of the progress of quite deep feelings for China, the system change its cloud "and the human system evolution trend empathy, so to contemporary Chinese new institutional economics teaching and research have not spit unhappy of speech, in this slightly talk about time.

First, we need to read more of coase original works. Many are still think coase but wrote two articles important article, and still no mathematical symbols. This is a great prejudice. The fact is, the coase wrote about more than 70 papers. In addition to the problem of social cost and "the nature of enterprise of the two articles most famous article, in addition, he in the theory of industrial organization and very important contribution. For example, he will last about monopoly durable goods price "Coase speculation" (Coase, 1972), and the thought of the trading market "Coase guess" (Coase, 1974) also has had a broad impact, among them the former was Hart and Tirole the two well-known of mathematical economics household very complex mathematical model to give a formal statement (Hart-Tirole, 1988), is now in the contract theory of dynamic adverse selection model of the classic paper. In addition, even if is the most important Coase theory contribution "Coase theorem", also not first appeared in the problem of social cost, but the federal communications commission "(Coase, 1959). The domestic many students or economics of folk lovers of new system economics understand still stay in Shanghai (early press of a batch of translation is not too accurate work or simply is ZhangWuChang economic prose, it's a sad.

Second, to master advanced analysis tool. Economics than other social science is more like science, because it is more meticulous analysis tools. (new) system in the progress of contemporary economics, which rely on game theory and micro measurement. This is why contract theory and enterprise theory than other institutional economics-transaction cost economics, branch property right economics, constitutional economics and law-even more rapid development economics, more get mainstream economics is the main reason for the recognition. I mentioned many times, and Chinese scholars must master the game theory and the microscopic measurement can promote the new dc hats institutional economics in China's spread and development. Unfortunately, the domestic study of new institutional economics, the real master this two kinds of tools is very few. But this makes me suffer the harsh criticism. Don't forget, costner age and our times are different. Besides, we are not coase! To promote the new institutional economics, it must be specified, test it, use it. No advanced analysis tools, promote and from any talk about? Can't we can expect oneself also like coase, with a the problem of social cost or the "the nature of enterprise" and the new institutional economics field name down in history? Be realistic right, Chinese scholars.

Third, to understand China's system change. We study coase thoughts, inherit the mantle of coase, the purpose is to use of coase theory as the Chinese do contribution, mainly is the understanding and promote the orientation of market economy and democratic political system change. For this reason, we must first understand China's institutional change process, this is the unique system experiment. We can't miss it, otherwise will excoriate by later generations. The reality is, our economic scholars spent too much time to study with today's China and no major problems of the relationship between the west, and to have or will begin the important system changes on issues. Early generation scholars on early Chinese institutional change will have a deep to the body, but the theory of ascension is not enough; Late a generation of scholars master better analysis tools, the but again to previous institutional change no perception. This temporary shortage phenomenon, is China's new institutional economics research a great loss. For this reason, we must appeal to, old economists and young economists co-operation, meticulous investigation into China, the political system of the magnificent on writing, and in theory further refining and for the new system of international economic theory hold position in history.

There is no doubt that, whatever admit it or not, this new institutional economics research a few years domestic nose-dived. The reason is that I mentioned this at 3 o 'clock. In the New Year, I sincerely hope that this situation will be improved, which of course depends on our new institutional economics scholars all work together. This, is memorial professor coase the best way to do that.

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