Professor LEE Suk-Bae

This fall, Seoul National University economics professor, LEE Suk-Bae (45) will move to the US, where he will be teaching at Columbia University. Lee is an up-and-coming researcher in the field of micro econometrics. He is producing globally recognized results and research. This is the first time an economics professor at a Korean university has been appointed as a professor at an Ivy League school.

Professor Lee graduated from SNU with a bachelor’s degree in economics in 1996. In 2002, he received his Ph.D at University of Iowa, USA and afterwards taught at University College London in England. He served as a professor of economics at SNU starting in 2011. During his career, he has published several papers in internationally acclaimed journals including Econometrica and American Economic Review.

Microeconometrics is a field that combines economic theory, statistical analysis and hydraulic modeling. The goal of the field is to provide a framework that will analyze microeconomic data collected in a given timeframe for personal, familial, or corporate use. Professor Lee said, “Microeconomic data is the bare essential for understanding economic units and the government’s economic policies” and adding that he is focusing on “either developing a better technique for analysis or creating a whole new technique for analyzing microeconomic data that was not available before in the past.”

He first drew the attention of world economists in 2011 by presenting an in-depth study tracking the relationship and progress between American university student entrance rates and employment rates. He also worked with other SNU economics professors including KIM Byung-Yun and CHOI Seung-Ju to conduct an economic experiment with North Korean defectors. Their results showed that North Korean defectors, in comparison to South Korean citizens, are more likely to be equality-oriented in terms of social norms.

This research was widely recognized and in October of 2010, The Korea Economic Daily awarded Professor Lee the prestigious Dasan Young Economist Award, which is given to nominees 45 years old or younger.

From SNU’s perspective, the brilliant young economist’s new appointment may come across as a loss. Even SNU graduates who have earned their doctorate abroad have returned to teach at Yonsei or Sungkyungwan universities. One reason for this phenomenon may be SNU’s lower average annual salary. At an average of 105,000,000 won, SNU professors receive less than those of Yonsei or Sungkyungwan universities.

On the other hand, the SNU Department of Economics will be hiring three more professors this semester.

Written by Ho Jung Annie Hwang, SNU English Editor, annieohan@snu.ac.kr
Reviewed by Professor Travis Smith, Department of Asian Languages and Civilizations