Peng Zhou (Joe)


​Lecturer in Economics ​and Finance

Department:​ Accounting, Economics and Finance
Telephone Number: +44 (0) 29 2020 5752

With a first degree in Philosophy at Peking University and an MSc in Economics and Finance at the University of York, I started my career in a consulting company, providing legal and financial advice for governments and companies in infrastructure projects, such as power plants, water plants, sewage treatment plants, highways, and undergrounds. I left the company in 2007 to pursue my PhD in Economics at Cardiff University, focusing on macroeconomic DSGE modelling and applied microeconomics. My research has been published in specialised books and peer-reviewed journals such as Journal of Evolutionary Economics, Scottish Journal of Political Economy, TQM & Business Excellence and International Review of Entrepreneurship. As a lecturer in Economics and Finance at Cardiff Metropolitan University since 2012, I keep close connections with local business and government, providing consultancy for, Ausnutria Dairy Co., Ltd. and Shelter Cymru, with which I transform my research specialties to practical values in insurance industry, food industry and housing market.

I teach Microeconomics (labour economics and health economics), Macroeconomics (business cycle and economic growth), Econometrics and Finance for undergraduate, postgraduate and PhD modules. I also hold a guest lectureship at CarBS of Cardiff University, teaching a second-year PhD module (Numerical Methods) and have been invited to deliver guest lectures at Nottingham Trent University and Hunan University. Currently, I supervise seven PhD students from Cardiff Met and Arab Academy for Science and Technology (AAST). 



Macroeconomics: DSGE Modelling with Heterogeneous Agents, Economic Growth, Business Cycle, Monetary Economics

Applied Economics: Public Policy, Labour Economics, International Trade

Business & Management Studies: Entrepreneurship, Innovation, Supply Chain​


Published Journal Articles and Books

  • 2015. "A DSGE Model of China." Applied Economics, vol. 47(59), pp. 6438-6460. (with Li Dai and Patrick Minford)
  • 2015. "The Language Effect on SME Exports." Scottish Journal of Political Economy, vol. 62(4), pp. 351-377. (with James Foreman-Peck)
  • 2015. "How Good are Out of Sample Forecasting Tests on DSGE Models?" Italian Economic Journal, vol. 1(3), pp. 333-351. (with P. Minford and Y. Xu)
  • 2015. "Challenges and Practices in Halal Meat Preparation: A Case Study Investigation of a UK Slaughterhouse." Accepted and in print by Total Quality Management & Business Excellence. (with A. Thomas, G. White and E. Plant)
  • 2013. "The Strength and Persistence of Entrepreneurial Cultures." Journal of Evolutionary Economics, 23(1), pp. 163-187. (with James Foreman-Peck)
  • 2012. Advanced Modern Macroeconomics: Analysis and Application (Chinese Version). Shanghai: Truth & Wisdom Press. (with Li Dai and Yi Wang)
  • 2011. "An Introduction to Statistical Methodologies of the UK Housing Price Indices." Journal of Data (a journal managed by Chinese statistical authority). Issue 1: pp. 61-63.
  • 2011. "A Study on Sampling and Statistical Methodology of Price Indices." Journal of China Statistics (a journal managed by Chinese statistical authority). Issue 4: pp. 51-53.
  • 2011. Instructor's Manual for Advanced Modern Macroeconomics. England: Pearson. ISBN: 978-0-273-72654-8. (with Max Gillman)
  • 2010. "Entrepreneurial Culture or Institutions? A Twentieth-Century Resolution." In: José L. García-Ruiz and Pier Angelo Toninelli, ed. 2010. The Determinants of Entrepreneurship: Leadership, Culture, Institutions. London: Pickering & Chatto. pp. 125-142. (with James Foreman-Peck)


Working Papers

  • "The Rise of the English Economy 14th-19th Century: A Lasting Response to a Demographic Shock." Cardiff Business School Working Paper, submitted to Economic Journal. (with James Foreman-Peck)
  • "Banking with Ehrlich-Becker Arrow-Debreu Securities and Systemic Risk." (with Max Gillman and Ruthira Naraidoo)
  • "The Supply Chains of Ritually Prepared Food: An Examination of Consumer Religiosity, Inter-Faith Acceptability and Attitudes towards Animal Slaughter." submitted to Journal of Business Research. (with G. White, A. Razak and A. Thomas)
  • "An Empirical Study on Price Rigidity." Cardiff Business School Working Paper.


2014. Welsh Government Research Grant for economic evaluation of Independent Living Adaptations, joint research project with Shelter Cymru (£38,110).

2012-2014. Quarterly report on international diary market investment, Ausnutria Dairy Co., Ltd., Hong Kong.

2010. Econometric modelling of performance evaluation,

External links

Referee for the ESRC research fund application.

Referee for the Journal of International Review of Entrepreneurship.​

Further Information

Fellowship of The Higher Education Academy, Fellowship since 2013 (via PgC THE).

Membership of The Royal Economic Society since 2011.

Membership of The European Economic Association since 2014.