Qifu Huang has not been engaged in academic research for a long time. From 1994, he basically faded out of academia. However, he has made great achievements in academic circles and is considered as one of the most likely China scholars to win the Nobel Prize in Economics. He and [Robert Litzenberger] co-authored Foundations of Financial Economics, which was published in Prentice Hall, 1988. Famous American business schools, such as Si Long School of Management at MIT, Stanford Business School and Wharton College of the University of Pennsylvania, used it as a teaching material and reference book for graduate students in finance and related fields. This book systematically and comprehensively explains the microeconomic foundation of modern finance, with a total of 10 chapters, focusing on personal consumption and portfolio decisions under uncertain conditions, and the enlightenment of these decisions on securities valuation, leading the trend of the times and meeting the needs of the times with excellent content. After nearly 20 years, it is still a classic work of global finance and the first textbook for graduate students in finance in North America and Europe.

Besides compiling Fundamentals of Finance and Economy, during his stay in Massachusetts, Qifu Huang made a breakthrough in academic research and won the reputation of a world-class expert.

When Qifu Huang entered Massachusetts in 1983, it was the perfect period of modern finance, and Si Long School of Management was the frontier of modern finance research. Therefore, everyone in the department has undertaken more teaching and scientific research work and is at the forefront of world financial research.

In Qifu Huang's memory, Si Long Finance Department is not only a place where experts gather, but also a place where people are encouraged to do research. During this period, he happily cooperated with talented colleagues and did many things that had a great impact on finance. For example, he works with John? JohnCox cooperated with others to transform the dynamic optimal consumption-investment portfolio problem in a complete market into a static optimization problem that is easy to handle, and gave the answer to the problem. At the same time, he also cooperated with others to create many mathematical models of arbitrage trading and became the world authority of financial mathematics.

During this period, Qifu Huang also cooperated with Merton, who enriched the Black-Scholes option pricing model mentioned earlier and helped Merton write a series of Time Finance. Merton is not only a close comrade-in-arms of Scholes, Qifu Huang's mentor at Stanford, but also a master who won the Nobel Prize in Economics with Scholes, and also a person who accepted Qifu Huang's lecture on behalf of Si Long College in Massachusetts. Merton wrote "Continuous Time Finance" on 1987, and comprehensively expounded the basic elements of effective market asset pricing to readers with a perfect mathematical background. Many of Qifu Huang's studies were adopted by Merton and used in his books.

Continuous Time Finance is still a rare classic. At the beginning of Continuous Time Finance, readers can see Morton's sincere thanks for Qifu Huang's help.

This is also the result of the efforts of generations of scholars such as Bachelet, Samuelson, Blake, Scholes, Merton and Qi Huang Fu. It is believed that finance, which was originally detached from orthodox economics, gradually moved closer to strict economic science and eventually became the core of modern economy.