Associate Professor in Business Economics
Associate Dean (Research and Development)
  • Ph.D in Economics, Renmin Univeristy of China, China, 1999
  • Master in Economics, University of Maine, Orono , USA, 1993
  • Bachelor in Accounting, University of Maine, Orono USA, 1991
  • Undergraduate Courses
    • Applied Economics for Leisure Industries (BECO406)
    • History of Economic Thought (BECO408)
    • The Macao Gaming and Hospitality Industries (GAHM203)
    • Principles of Microeconomics (BECO100)
    • Logic and Reasoning (QMDS103)
    • Introduction to Gaming Management (GAHM200)
    • Intermediate Microeconomics (BECO308)
    • Econometrics I/II (ECIF310/311)
    • Economics of Tourism (ECIF362)
    • The Chinese Economy (ECIF411)
  • Graduate Courses
    • Economics (BECO7002)
    • Selected Topics in Gaming Management (IMBC125)
    • China’s Financial Markets (IMBB113)
    • Selected Topics in China Business (IMBB116)
    • Economics of Electronic Commerce (IMBB134)
  • Institutional Economics
  • Gaming and Tourism
  • Macao Economy
  • China’s Financial Markets
  • Macao’s Economic Development Process and Its Long-term Plans (in Chinese). A special project requested by and conducted for the Centre for Sustainable Development Strategies of the Government of the Macao Special Administration Region Research (Period of study: March – July 2009).
  • Casino Liberalization Policy: Review and Recommendation (in Chinese). A special project requested by and conducted for the Office of the Secretary for Economy and Finance, Macao Special Administration Region Government (Period of study: May 2008 – February 2009).
  • Macao Gaming Human Resources Deficiency and Solutions (2006-2007). Through the Association of Macao Economic Science.
  • Gaming Industry and Tourism in Macao (2004-2005). Through the Research Committee of the University of Macau.
  • The Role of Imported Labor in Macao’s Labor Market – A Cost and Benefit Analysis (2002). Through the Business Research and Training Center of FBA of the University of Macau.
  • China’s Emerging Financial Markets: Reform and Development (2002). Through the Research Committee of the University of Macau.
  • The Macao SAR Reserve Fund at the crossroads (2002). Through the Research Committee of the University of Macau.
  1. Siu, Ricardo C.S. (2021), Corporate Planning and Innovation in an Economic Reform Context: The Case of Alibaba., Journal of Economic Issues, 55(2), 388-395 (ABS2)
  2. Siu, Ricardo C.S. (2020), Policy dimensions of progressive institutional change: Lessons from China’s construction of a socialist market economy, Journal of Economic Issues, 54(2), 468-475 (ABS2)
  3. SIU, R. C. S. (2019). China’s Belt and Road Initiative: Reducing or Increasing the World Uncertainties? Journal of Economic Issues, 53(2), 571-578.
  4. SIU, R. C. S. (2018). Institutional change and evolution of the world leisure industry. Journal of Economic Issues, 52(2), 378-386.
  5. HE, M. and SIU, R. C. S. (2016). A public choice perspective on the legalization of casino gaming. Journal of Gambling Business and Economics, 10(2), 22-45.
  6. YUAN, J. and SIU, R. C. S. and SUN, G. Z. (2014). The lure of illusory luck: How much are people willing to pay for random shocks. Journal of Economic Behavior & Organization, 106 (July 2014), 269-280.
  7. Gu, X. H. and LI, G. Q. and SIU, R. C. S. (2012). Casino taxation in tourism resorts. Gaming Law Review and Economics, 16(5), 274-277.
  8. SIU, R. C. S. (2011). A concept reconsideration of the price issues with casino gaming. Gaming Law Review and Economics, 15(5), 267-277.
  9. LI, G. Q. and GU, X. H. and SIU R. C. S. (2010). The impacts of gaming expansion on economic growth: A theoretical reconsideration. Journal of Gambling Studies, 26(2), 269-285.
  10. GU, Z. and SIU R. C. S. (2009). Drivers of job satisfaction as related to work performance in Macao casino hotels: An investigation based on employee survey. International Journal of Contemporary Hospitality Management, 21(5), 561-578.
  11. SIU, R. C. S. and EADINGTON W. R. (2009). Table games or slots? Competition, evolution, and game preference in Macao’s casino market. Journal of Gambling Business and Economics, 3(1), 41-63.
  12. LAI, R. N. L. and SO, R. W. and SIU, R. C. S. (2008). What does a concept attract? The case of gaming in Macau. Journal of Gambling Business and Economics, 2(3), 1-22.
  13. GU, Z. and SIU R. C. S. (2008). The Macao casino industry labor force quality – An investigation form the customer service perspective. UNLV Gaming Research and Review Journal, 12(1 & 2), 1-13.
  14. SIU, R. C. S. (2007). Formal rules, informal constraints, and industrial evolution  The case of the Junket Operator Regulation and the transition of Macao’s casino business. UNLV Gaming Research and Review Journal, 11(2), 49-62.
  15. SIU, R. C. S. (2007). Is casino gaming a productive sector? A conceptual and cross-jurisdiction analysis. Journal of Gambling Business and Economics, 1(2), 129-146.
  16. EADINGTON W. R. and SIU, R. C. S. (2007). Between law and custom — Examining the interaction between legislative change and the evolution of Macao’s casino industry. International Gambling Studies, 7(1), 1-28.
  17. SIU, R. C. S. (2006). Evolution of Macao’s casino industry from monopoly to oligopoly – Social and economic reconsideration. Journal of Economic Issues, 40(4), 967-90.
  1. SIU, R. C. S. (2020). Principles for the Hospitality Industry (1st edition). Abingdon, Oxon, UK: Routledge. (Paperback: 9781138090651 Hardback: 9781138090644)
  2. SIU, R. C. S. (2013). The Economics of Asian Casino Gaming and Gambling. Forthcoming in The Oxford Handbook of the Economics of Gambling. Oxford University Press.
  3. SIU, R. C. S. and HE M. (2013). Ceremonial-instrumental dichotomy in the integration of the Macao gambling room model and the Vegas casino resort model. Forthcoming in the China’s Macao Transformed: Challenge and Development in the 21st Century. Armonk, New York: M.E. Sharpe; Hong Kong: City University Press.
  1. SIU, R. C. S. (2021). Corporate Planning and Innovation in the Context of Economic Reform: The Case of Alibaba. Presented in the AFEE 2021 Annual Meeting at ASSA, America Economic Association Annual Meeting, 2021, Virtual, January 3-5, 2021.
  2. Siu, Ricardo C.S. (2020). A pragmatic and prudent approach adopted by Macao to map out its pandemic recovery plan. East Asia Forum, September 30, 2020.
  3. Siu, R. C. S. (2019). Labor market freedom and industrial development. Invited presentation in the Annual Conference of Macau Studies 2019. Center for Macau Studies, University of Macau, Macao SAR, October 15, 2019.
  4. SIU, R. C. S. and SO, J. P. U. (2019). A Neo-Schumpeterian approach to examine boundaries of casino tourism development. Presented in the 17th International Conference for Gambling and Risk Taking, in Las Vegas, USA, May 27-30, 2019.
  5. SIU, R. C. S. (2019). China’s belt and road initiative: Reducing or increasing the world uncertainties? Presented in the AFEE 2019 Annual Meeting at ASSA, America Economic Association Annual Meeting, 2019, in Atlanta, Georgia, USA, January 4-6, 2019.
  6. SIU, R. C. S. and SO, J. P. U. (2018). Analysis of practices of casino gaming concessions in Macao from perspective of institutional economics. Presented in the Eleventh International Conference on the Legal Reforms of Macau in the Global Context (Theme: Gaming concessions and other gaming licensing legal experiences), in Macao SAR, China, August 25, 2018.
  7. SIU, R. C. S. (2018). Institutional change and evolution of the world leisure industries. Presented in the AFEE 2018 Annual Meeting at ASSA, America Economic Association Annual Meeting, 2018, in Philadelphia, USA, January 5-7, 2018.
  8. SIU, R. C. S. (2016). Path dependence in the industrial development of casino gaming: The lesson from Macao. Presented in the 16th International Conference for Gambling and Risk Taking, in Las Vegas, USA, June 6-10, 2016.
  9. SIU, R. C. S. (2013). The interplay between law, development and spillover effects of casino gaming: Theory and the Asian evidences. Presented in the 15th International Conference for Gambling and Risk Taking, in Las Vegas, USA, May 27-31, 2013.
  10. SIU, R. C. S. and HE, M. (2013). A public choice perspective on the progression of casino gaming. Presented in the 15th International Conference for Gambling and Risk Taking, in Las Vegas, USA, May 27-31, 2013.
  11. SIU, R. C. S. and Yuan, J. (2013). Are lottery players affected by random shock? Evidence from China’s individual lottery betting panel data. Presented in the 15th International Conference for Gambling and Risk Taking, in Las Vegas, USA, May 27-31, 2013.
  12. SIU, R. C. S. (2010). A concept reconsideration of the price issues with casino gaming. Presented in the 70th International Atlantic Economic Society Conference, in Charleston, South Carolina, USA, October 11-13, 2010.
  13. SIU, R. C. S. (2009). A financial analysis of the integration of the Vegas casino resort model and the Macao gambling room model. Presented in the 14th International Conference on Gambling and Risk-Taking, in Lake Tahoe, Nevada, USA, May 25-29, 2009.
  14. SIU, R. C. S. (2008). An institutionalist perspective on casino gaming and economic development. Presented in the Symposium of the Southern Economic Journal – Gambling, Prediction Markets and Public Policies, in Days Hotels, Nottingham, UK, September 15-16, 2008.
  15. SIU, R. C. S. (2007). Positive and negative impacts from the rapid growth of Macao’s casino industry to its local human resources market (in Chinese). Presented in the Conference on Impacts to the Macao Economy and Society Following the Rapid Growth of Its Casino Industry, at University of Macau, Macao SAR China, November 22, 2007.
  16. SIU, R. C. S. (2007). Is casino gaming a productivity sector? A conceptual and cross-jurisdiction analysis. Presented in the Economica Special Issue Conference on “The Growth of Gambling and Prediction Markets: Economic and Finance Implications”, at University of California, Riverside, Palm Desert Graduate Center, Palm Desert, California, USA, May 20-22, 2007.
  17. SIU, R. C. S. (2006). Formal rules, informal constraints, and industrial evolution  The case of the Junket Operator Regulation and the transition of Macao’s casino business. Presented in the 13th International Conference on Gambling and Risk-Taking, in Lake Tahoe, Nevada, USA, May 22-26, 2006.
  18. SIU, R. C. S. (2004). A new epoch in the Macao economy and its gaming industry. Presented in the Asian Gaming Expo and Conference – Insights and Opportunities, Fullerton Hotel, Singapore, May 11-12 2004.
  19. SIU, R. C. S. and CHENG, H. I. (2003). Table games or slots? A strategic issue faced by the new casinos in Macao. Presented in the International Conference for the Prospects of the Asia-Pacific Casino Industry, Kangwon Land Casino, South Korea, December 6-8 2003. Conference Proceeding, pp. 63 – 113.
  1. SIU, R. C. S. and E. Lao (2011). Strategic issues faced by Macao in the Pearl River Delta regional economic cooperation. Journal of Macau Economy, 30(1), 39-61.
  2. SIU, R. C. S. (2009). The political economy of Macao’s casino industry: The pattern of evolution, new orders and international dynamics (in Chinese). Journal of Macao Studies, 55, 65-73.
  3. SIU, R. C. S. (2008). Macao’s institutional change and evolution of the economic society – Review and Prospects (in Chinese and Portuguese). 《行政》Macao Public Administration Magazine, 80(2), 255-261.
  4. SIU, R. C. S. (2005). A new epoch in the Macau economy and its gaming industry. Journal of Macao Studies, 26, 54-61.
  5. SIU, R. C. S. and CHENG, H. I. (2004). A matter of urgency: Providing a level-playing competitive environment for Macao’s casino industry. Journal of Macao Studies, 20, 191-205.
  6. SIU, R. C. S. and LAM, M. K. and CHAN, S. S. (2002). The Macao SAR Reserve Fund at the crossroads (in English and Chinese). AMCM Quarterly, August 2002, 11-31.
  7. SIU, R. C. S. (1998). Some issues regarding the demand and supply of money, and the banking system in Macau (in Chinese). Journal of Macao Studies, 7, 31-49.
  • Vice Chairman of Executive Board and Chairman of Academic Division, Macao Association of Economic Science