The Cognitive Aging series of courses is a short-term program offered by the Institute for Global Health and Development (IGHD) at Peking University. Focusing on the significant global challenge of population aging, this course begins with cognitive decline, which poses substantial social and economic burdens. It provides an interdisciplinary overview of the research progress in the economics of cognitive aging. From May 22nd to May 26th, 2023, the short-term course was conducted at the office area of IGHD’s Science and Technology Park. It was taught by Professor Xi Chen, an associate professor of health policy and economics at Yale University and a jointly-appointed associate professor at IGHD. Professor Liu Guoen, the director of IGHD, along with some Peking University faculty and students, participated in this course.

In the first session, Professor Xi primarily delved into the epidemiology of cognitive aging, the core concerns of economists, and economic theoretical models. He introduced a series of related studies indicating that factors such as education level, income, race, and genetics can influence the onset of dementia. However, Alzheimer's disease currently lacks a cure, and the development of treatment drugs poses significant challenges. Therefore, delaying the onset of dementia would have significant social and economic benefits.

In the second session, Professor Xi introduced the databases available in the United States for studying cognitive aging issues. He then provided detailed empirical evidence on factors influencing cognitive problems in old age, including race, place of residence, years of education, and attendance of racially segregated schools.

In the third session, Professor Xi primarily focused on the impact of cognitive aging on financial and financial decision-making. He introduced a series of related studies indicating that older adults often overestimate their cognitive abilities, leading to an increasing gap between their actual cognitive status and perceived cognitive status. This gap often leads to errors in health and financial decision-making, resulting in significant burdens on families and society.

In the fourth session, Professor Xi delved into his research paper titled "The Fatal Conceit? Cognitive Misperception, Decision-Making and Wellbeing." He discussed the increasing gap between actual cognition and perceived cognition as age increases, constructed and validated standardized measures of cognitive misperception, analyzed the correlation between the degree of cognitive misperception and adverse health outcomes such as death and accidental disability, and explored potential mechanisms underlying these relationships.

In the fifth session, Professor Xi Chen elaborated on nursing and caregiving services for the elderly population, including formal and informal caregiving, and the economic burden they entail. He compared the differences in caregiving patterns between the cognitive aging population and non-cognitive aging population. Additionally, Professor Chen summarized technological advancements in elderly care, recent nursing policies in the United States, and the implementation and development of long-term care insurance.

Professor Xi’s lecture also provided several health economics papers on Alzheimer's disease, inspiring students and faculty to explore methods and research interests in this area. Overall, all attendees gained valuable insights from the lecture.

(Interpreted by Waverly Shi)