Li Zhang’s journey into academia was shaped by years of practical experience in finance and housing policy in China. Before stepping into a university lecture hall, she worked closely with banks, real estate developers, and government agencies managing housing finance systems. While that career provided deep insight into how economic mechanisms operate behind the scenes, her passion for education—rooted in childhood—eventually led her to the classroom.
“I’ve wanted to be a teacher since I was a little girl,” Zhang recalled. After earning her master’s degree, she entered the banking sector, advancing from loan officer to department manager. Her responsibilities included assessing developer risks and preparing reports that influenced lending strategies. However, as leadership demands intensified, she began reevaluating her long-term goals.
“I realized that wasn’t the path I wanted to pursue indefinitely,” she said. Inspired by her husband’s experience studying in the United States, the couple decided to relocate, and Zhang applied to a Ph.D. program. She began doctoral studies at the University of Missouri but later transitioned to a master’s program, initially planning to return to banking. Strong mentorship and a renewed sense of purpose redirected her trajectory. She ultimately completed her doctorate in economics at the University of Alabama, fulfilling her lifelong aspiration to become an educator.
Today, Zhang integrates real-world data, interactive learning, and inclusive discussion into her teaching. Her courses feature group activities, simulations, and exercises that help students connect economic theories to daily life.
“If you walk into my class, you’ll see students debating, running experiments, and engaging with questions that make abstract concepts tangible,” she explained. “My goal is for them to not just memorize definitions, but to apply economic thinking as informed consumers, workers, and citizens.”
One of her signature teaching methods involves behavioral experiments, such as public goods games, where students experience firsthand the trade-offs in collective decision-making.
“I believe in experiential learning,” she said. “When learners participate in a system, they grasp its dynamics more deeply. That’s when understanding becomes lasting.”
Her research mirrors this hands-on approach. Using lab and field experiments, she investigates the drivers of charitable giving, examining how inequality, social reputation, and tax policies influence donor behavior. One of her most notable findings is that while high-income individuals contribute more in absolute terms, lower-income groups often give a higher proportion of their earnings.
“The evidence challenges common assumptions,” she noted. “And that’s what makes this work valuable—it can inform better policies and fundraising strategies.”
As a first-generation college graduate, Zhang places strong emphasis on mentorship.
“I didn’t always know the right steps,” she said. “But mentors showed me what was possible. Now, I strive to offer that same guidance to my students, both inside and outside the classroom.”
Now based in Michigan with her family, Zhang continues her research, interdisciplinary collaborations, and efforts to nurture the next generation of economists.
— news from Central Michigan University
— News Original —
Building classroom economic insights from real life
Before she ever stood at the front of a college classroom, Li Zhang was working with banks, developers, and government agencies to manage housing finance in China. That career path taught her how economic systems function behind the scenes—but it was a different realization that brought her to teaching. n n”I’ve wanted to be a teacher since I was a little girl,” Zhang said. n nAfter completing her master’s degree, she entered the banking industry, where she rose from loan officer to department manager. Her role involved evaluating housing developers and writing risk reports that shaped lending decisions. But as the pressure of leadership mounted, so did her desire for change. n n”I realized that was not what I wanted long-term,” she said. “My husband had studied in the U.S., so we decided to go see how people live here—and I applied to a Ph.D. program.” n nShe began a Ph.D. program at the University of Missouri but eventually shifted to a master’s program, planning to return to the banking industry. Along the way, strong mentorship and a renewed sense of purpose led her to reconsider. She later earned her doctorate in economics from the University of Alabama—bringing her childhood dream of becoming a teacher full circle. n nToday, she brings real-world data, inclusive dialogue, and interactive experiments into the classroom. n n”If you visit my class, you’ll see group discussions, simulations, and questions that encourage students to connect economic concepts to their everyday lives,” Zhang said. “I want them to leave not only knowing the definitions—but understanding how to apply those ideas as consumers, workers, and citizens.” n nHer classes often incorporate classroom experiments—like public goods simulations—that allow students to test economic theories through behavior and peer interaction. n n”I believe in learning by doing,” she said. “When students can engage in the system, they see the trade-offs more clearly. That’s when the learning sticks.” n nZhang’s research follows the same logic. She uses lab experiments and field studies to explore the motivations behind charitable giving, including how factors like inequality, social image, and tax incentives shape donor behavior. One of her most surprising findings? While wealthy individuals contribute the majority of total donations in absolute terms, lower-income groups give at least as much — and often a higher percentage — of their income compared to the rich. n n”The data challenges some assumptions,” she said. “And that’s what I love about this work—it helps us design better systems, whether in policy or fundraising.” n nAs a first-generation college student herself, Zhang also emphasizes mentorship as part of her teaching philosophy. n n”I didn’t always know what steps to take,” she said. “But mentors helped me see what was possible. That’s the role I hope to play for my students—both in and outside the classroom.” n nNow settled in Michigan with her family, Zhang is excited to continue her research, collaborate across disciplines, and support the next generation of business-minded economists.