$50,000 Tuition Fee for 15-Day Lectures

A world`s renowned scholar who has been named Nobel Economic Prize nominee was asked to give his first lecture in Korea, opening a 15-day lecture and seminar schedule worth $50,000 or 60 million won.

Robert Barro, 58-year-old professor of economics at U.S. Harvard University, gave a lecture on the `theory of economic growth and experimental analysis` to graduates students, professors and undergraduates gathering at a large classroom at the Seoul National University Graduate School of Economic in the late afternoon of May 6.

Students and professors alike were all ears to listen to the renowned economist throughout the lecture. The economic department had a hard time arranging a large room for over 100 people, three times larger than initially estimated, swarmed to attend the lecture.

Professor Barro will be paid $50,000 for nine lectures and weekly seminars and an open lecture scheduled through May 21. This means he will earn 7 million won per a 1 hour and 30 minute lecture.

The lecture on the day was given in English. Wearing a blue suit, the Harvard professor began his lecture showing a graph, which indicates a gap of up to 100 times in national gross domestic product worldwide.

“I was so lucky to listen to Prof. Barro in person instead of reading his books,” said Gang Sang-yoon, 27-year-old first-year graduate school student majoring economic. “It was easy to understand and the professor even made jokes during his lecture.”

“The $50,000 payment includes flight fees,” said Prof. Lee Ji-woon, head of the economics department. “We expect that students will learn as much as they can from the world`s renowned professor, who has shown much interest in the impact of inter-Korean relations including the North`s nuclear program on the Korean economy.”

Prof. Barro won a doctor`s degree at Harvard University in 1970 and has been teaching economics in Chicago University and Harvard since then. He specializes in experimental analyses on the relationship between economic growth and political-social factors such as dictatorship, open market and distribution systems.

Jin-Suk Huh jameshuh@donga.com