Nobel Laureate in Economics Professor Myron S. Scholes Establishes Nobel Economist Special Scholarsh

Renowned Nobel Laureate Professor Myron S. Scholes visited Xiamen University in June, 2012 as an honorary guest, presenting a lecture entitled "Intermediation Process and Risk Management" and announcing the establishment of a Nobel Economist Special Scholarship for aspiring economists at Xiamen University. Professor Scholes' lecture was part of a series of academic forums marking the 30th anniversary of the founding of the School of Economics and the 91st anniversary of the establishment of the Department of Economics at Xiamen University.
The Nobel Economist Special Scholarship draws from a generous donation fund provided by Professor Myron S. Scholes and is expected to bolster the development and academic caliber of Xiamen University's economics programs. Already recognized for its strength in economics and finance, Xiamen University's School of Economics will continue to discipline and encourage its students to persevere in their studies, reach their full academic potential and contribute to national and global research in economics and finance.
Professor Myron S. Scholes attended the University of Chicago Booth School of Business and obtained his MBA in 1964 and his Ph.D. in 1969. He has taught at prestigious universities including Massachusetts Institute of Technology Sloan School of Management, University of Chicago Booth School of Business and Stanford University. Professor Myron S. Scholes co-authored the Black-Scholes option pricing model, receiving the Nobel Memorial Prize in Economic Sciences in 1997 alongside Harvard University Professor Robert C. Merton. The Black-Scholes formula is widely regarded as a prominent conceptual framework for valuing derivatives including call and put options.
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