Does it take a Korean to teach Korean economy? Professor Heshmati, who teaches economics of technology and industrial policy at SNU College of Engineering at SNU, would surely disagree.

“We all are global citizens and share common values, especially the way we study economics. ”, laughed Professor Heshmati.

“Though Korea’s economy is facing great difficulties at the moment, but I believe in its potential to overcome it,” replied Professor Almas Heshmati, when asked for his opinion on the recent financial crisis.

“Over the last 90 years the economy of the Kurdish society in the Middle East where I was born and brought up, has been at standstill awaiting the end of people’s never-ending struggle for their independence. Korea, on the other hand, stepped up to be one of the leading countries in the world economy. Not only that, Korea unbelievably recovered from the financial crisis of 1997/1998 just in about two years. This country surely amazes people by achieving unprecedented growth and recovery.”

Professor Heshmati teaches “Industrial Technology Policy”, and “Theory of Productivity analysis” two extraordinary graduate courses taught at Technology Management, Economics and Policy Program. About 30 out of 140 students at the program are public officials from other countries like Southeast, South East and Central Asia, Middle East, South America and East Europe. They are on their missions of solving the mystery of Korea’s technological improvement and economic development. To fulfill their needs, Professor Heshmati provides them knowledge and insight into the Korean economy in English.

“I teach them not only the facts but also how to apply the secrets of Korea’s economic development in their countries,” he said. He emphasizes that these students, as public officials, especially came to Korea because of Korea’s unique development. He says Korea is different from many other developing countries in that it consistently invested in education, technology and in development of cutting edge technology for several decades.

“Korea’s technology in some areas is in the top level now. The Korean government achieved it by promptly choosing to back semiconductor industry in the 70s and telecommunication industry in 90s. What I am trying to teach them is this know-how in technology management.”

This know-how cannot be taught without the help of computer. He only spends half of his class time for the lecture, leaving the other half for analyzing economic data in the computer lab. Based on the analysis of data, students are trained to determine which industry or which companies can gain most from support from the government. As soon as they go back to their countries, this know-how will be put into practice and it promotes their country’s relationship with Korea.

Professor Heshmati is from Sweden and has his home base there. He did various researches as a visiting professor at SNU during 2004-2006. He has been ranked as the second economist in Korea by Social Science research Network measured by the number of downloads of publications in the field of economics in peer review sites. Several of his research papers focused on the analysis of performance and industry dynamics in the Korean manufacturing industries, evaluation of credit guarantees and position of Korea among the OECD countries in terms of economic growth. His is also interested in doing research in the areas of the economic benefit of unification, a subject that is of interest to the Ministry of Unification, and Korea’s and different industries vulnerability in supply of energy.

November 15, 2008
Written by SNU English Editor Jiseon Jeong