June 8, 2012, Associate Dean Professor Alan Deardorff, the University of Michigan, Ann Arbor, Ford School of Public Policy, former director of the Department of Economics visited our school and brought an academic report entitled "One-Way Arbitrage and Its Implications for the Foreign Exchange Markets" The seminar was chaired by Ma Ming, Director of the Department of Applied Economics. Teacher Hu Rui-fa, Li Yan, Dong Mei, SME students and students from the People's University listened to the report and participated in discussions.

　　Professor Deardorf had in-depth interaction with participating teachers and students. He believed One-Way arbitrage was superior to covered arbitrage in transaction costs.

Speaker Profile:
　　Alan V. Deardorff, professor of international economics and professor of Economics and Public Policy at the University. Received a doctorate in economics at Cornell University in 1971. Taught at the University of Michigan since 1970. Served as deputy director of the Gerald R. Ford School of Public Policy since 2007. Consultant in the State, Treasury, Labor, and many other U.S. government agencies, and the OECD, the United Nations and the World Bank and other international institutions. Paul Krugman, Nobel laureate in economics, to commemorate Professor Alan V. Deardorff’s teaching experience, gave a special note speech in "CitiGroup Foundation” seminars. The 3-floored conference hall was fully packed. http://fordschool.umich.edu/news/?news_id = 210;
Professor Alan Deardorff official website: http://www-personal.umich.edu/ ~ alandear