On the evening of June 27, 2022, the "Editor in Chief Face to Face" Editor in Chief Lecture Series continued with a presentation by Professor Nathaniel Hendren, Chief Co Editor of the Journal of Public Economics and a distinguished economist at Harvard University. The event was part of the second module of the series and was hosted by the School of Economics and Management at Beijing Jiaotong University, with Elsevier Group and the Economic Management Home Forum co-organizing. The lecture, titled 'Unifying Welfare Comparisons Using the Marginal Value of Public Funds', was broadcasted to a substantial online audience through various platforms.

Professor Hendren is acclaimed for his contributions to public economics and policy making, holding editorial positions and leading research organizations focused on economic opportunity. His lecture shed light on the Marginal Value of Public Funds (MVPF) concept, which serves as a metric for comparing the social benefits and government expenditure of various public policies. Through his research, Professor Hendren showcased the significant returns of investing in the health and education of low-income children, a finding that has profound implications for policy making and government fund allocation.

The session, chaired by Professor Wang Yacan from Beijing Jiaotong University, featured insightful comments from Professor Fu Shihe from Xiamen University and Associate Professor Shi Xinzheng from Tsinghua University. They commended the research's innovative approach to policy evaluation and discussed its application to broader policy contexts, including regional policies and state-owned enterprises.

Professor Hendren engaged with the reviewers' feedback, discussing the broader application of MVPF in welfare measurement and its potential for informing policy decisions in China and beyond.

The lecture provided participants with an in-depth understanding of how MVPF can guide the evaluation of policy effectiveness, offering a nuanced perspective on resource allocation and welfare assessment. This session stands as another enriching academic exchange in the "Editor in Chief Face to Face" series, fostering scholarly dialogue and learning in the field of economics.