Prof. Changyong Rhee, the tallest frame, connects his laptop to the projector himself and starts the class by throwing a sharp question contrary to his bright smile: Why couldn’t the cartels in the oil industry during the1980s be sustained over a long period? Eyes glitter as they ruminate over the question anticipating today’s heated discussion.

Prof. Rhee starts off today’s topic in flamboyant English. One to several economic key words or concepts are used to explain a lecture-length of Korean economic history and to help with basic understanding he clarifies them prior to getting to the point. Most of the jargon is basic, but when it becomes more complex, Prof. Rhee prefers to let the students do the work rather than spare precious class time; hence the so-called ‘homework’ of a one A4-page report. It allows students to review the class as well as to dig into fascinating economic phenomenon freely.

One of the easily committed errors in learning history or sociology is missing the big picture while focusing on minor details. Prof. Rhee teaches students to avoid this very mistake by looking at specific events with a global perspective. Just like a camera, he vividly zooms in from the big picture to the smallest details: how the break down of oil cartels in the 1980s and the low dollar to yen exchange rate combined into the three lows to affect the Korean economy. Yet this lucid lecture is full of doubts. Prof. Rhee waits for the questions but does not answer them promptly, posing questions back to the students instead. “Any ideas?”. Near the end of the semester, students have lost all shyness regarding wrong answers. After much debate, Prof. Rhee gives the correct answer which everyone finds themselves nodding to. Time surely flies in this class.

The fact that the lecture does not cover every little detail and leaves room for questions may in fact be the very intention of a veteran professor. Prof. Rhee, who conveys his knowledge and experience through confident English, has succeeded to enthrall even foreign students this time, following the Macroeconomics course that brimmed with surplus registrations.

Professor Changyong Rhee

Ph.D. Economics, Harvard University
B.A. Economics, Seoul National University, Summa Cum Laude

Current Position:
Professor, Department of Economics, Seoul National University
Advisor, Global Financial Research Institute & Korea Fixed Income Research Institute


Dec. 28, 2007
SNU PR Office