Undergraduate Courses 2018-19

The course introduces students to some of the economic principles that have proven to be powerful tools for analyzing real-world problems. A wide range of the most pressing issues of our times will be identified and discussed. The necessary framework for analyzing them will be developed. No prior background in economics is required. For those students who have scored grade C or above in HKAL Economics or level 3 or above in HKDSE Economics, or those who have taken any ECON courses, approval from the instructors will be required before their enrollment in the course.

International businesspersons must examine the suitability of countries as places for trade or finance. Country reports are an oft used tool for learning quickly about the key elements of the business environment in a country or regional economy. This course will focus on teaching students how to read such reports and how to write them with an eye toward broadening their knowledge of the international environment.

Theory of firm in a free enterprise system; theory of consumer demand; market structures and resource allocation; efficiency of competitive markets; selected topics on government regulation. Students with non-local qualifications should seek department’s or school’s approval for enrollment in the course.

Theory of the firm in a free enterprise system; theory of consumer demand; market structures and resource allocation; selected topics on government regulation. More topics treated in greater depth than ECON 2103. Students with non-local qualifications should seek department’s or school’s approval for enrollment in the course.

Theory of national income determination and business fluctuation; monetary and fiscal policies; selected topics in macroeconomic policies and open economy macroeconomics. Students with non-local qualifications should seek department’s or school’s approval for enrollment in the course.

Exclusively for SB&M students. This course provides students with mathematical tools frequently used in economic analysis. Topics include real numbers, single and multivariable functions, matrix algebra, multivariate calculus, convex analysis, and constrained and unconstrained optimization. Examples of economic analysis using these mathematical tools will be included.

This course introduces students to basic theories and findings in environmental and health economics. The emphasis is on how the economic models and concepts can be used to analyze environmental and health issues. The course begins with an introduction of theoretical economic concepts and models; then it moves on to several policy-relevant environmental and health topics. Particular issues include externality, common goods and public goods, valuation of environmental goods and health, market failure and health, environmental regulations, pollution and health, and the economics of climate change. For students in their first and second year of study or those with approval from instructor for enrolling in the course.

Demand estimation, business and economic forecasting; production, innovation and cost; market structure, strategic behavior and pricing; decision making under uncertainty; government regulation of business activities; case studies.

This course begins with a critical review of the standard models studied in introductory macroeconomics courses, highlighting their limitations and applicability. In the process, we emphasize the role of expectations and the intertemporal decisions faced by governments, consumers and firms. Building on this foundation, we analyze a host of international macroeconomic and financial issues, including monetary and fiscal policies, exchange rate determination, financial crises, currency risks and their implications for corporate decision-making.

The course presents a detailed study of basic topics in microeconomics with a special emphasis on using a rigorous analytical and mathematical approach. The topics include demand theory, uncertainty, asymmetric information, general equilibrium, welfare economics, externality, and public good. Multivariate calculus will be extensively used. Exclusively for students of the BSc programs in Economics & Finance and in Mathematics & Economics.

This course will concentrate on introducing the basics terms of macroeconomics, business cycle analysis, money and inflation, current accounts, and exchange rates. Exclusively for students of the BSc in Economics and Finance program.

This is the second course in the microeconomics sequence offered exclusively to the students of BSc in Economics and Finance program. Topics include production theory, firms' behavior under different market structures (perfect competition, monopoly, oligopoly), factor demand, and game theory. Emphases are placed on a rigorous analytical and mathematical approach, and multivariate calculus will be used extensively.

This course will focus on long-term economic growth and structural change, theoretical elements of intertemporal macroeconomics, government budgets and deficits.

Topics on the use of statistical regression techniques in modeling and estimating economic and business relationships. Both theoretical and applied aspects are addressed.

Market structures and their implications for industry performance and strategic decision-making by firms; entry deterrence, advertising, R&D investments; horizontal and vertical integration, strategic alliances, joint ventures and multi-market interaction.

This course introduces the basic concepts of game theory, it emphasize on the unifying perspective that game theory offers to questions in economics, other disciplines, and everyday life. It will enable students to view social interactions as strategic games, to use game theoretic concepts to predict behavior in these interactions and to conceive of ways in which altering the game affects social outcomes.

Occupational choice; labor market analysis and determination of earnings; unions and collective bargaining; employment and job turnover; family, fertility and population issues; training, health, and human capital.

The economic approach to law; externalities, transaction costs, and the "Coase Theorem"; the problem of the commons; the social cost of crime and law enforcement; case studies.

This course puts statistical theory and econometric method into practice by working with data and cases. Students are required to write their own program with R for summary statistics, data visualization, estimation, and hypothesis testing. The students are also trained to produce table and write report for empirical study. The main objective is to help students develop skills in working with data to support a better business decision or analysis.

This course introduces students to advanced econometric tools for analyzing cross section and panel data. These tools are useful in areas such as industrial organization, corporate finance, labor and public economics. Topics include: instrumental variable estimation; panel data; discrete choice models; censored and truncated dependent variables; duration models.

The use of time series data for business forecasting is examined using the methods of regression analysis, exponential and Autoregressive Integrated Moving Average (ARIMA) techniques.

Theories of money supply and demand; role of money in business fluctuations, inflation, and growth; banking, financial intermediation, and money supply; targets and instruments of monetary policy; rules versus discretion.

This course will cover the patterns and the mechanisms of international trade and foreign investment. Topics include the patterns of international trade, why nations trade, what they trade, and who gains from trade, without explicit policy interventions; the determinants and the implementations of different trade policies, the motives for countries or organizations to restrict or regulate international trade, and the welfare implications of those trade policies; the role of firms in the global economy, the operations of multinational enterprises, outsourcing, as well as the patterns and the determinants of foreign direct investment.

This course will help students understand the macroeconomic and financial linkages between domestic and foreign countries. Topics include the international financial market environment, the impacts of exchange rate fluctuations, the mechanisms of adjustment, the operation of the exchange rate systems in developing and developed countries, the international monetary system, and the relationship among money, output, exchange rates, interest rates and prices.

Why globalization? Is it good or bad? This course provides students with economic frameworks to analyze and understand globalization. Topics include international trade, foreign direct investment, multinationals, exchange rates, regional trade agreements, WTO, IMF and the World Bank. There are regional case studies on Asian economies, with focus on China and Hong Kong.

The course offers an in depth study of the financial economics and their implication on macroeconomics. It aims to bring financial factors into models of macroeconomics. A series of recent financial crises suggest these financial factors which have largely been overlooked in traditional macroeconomics play a crucial role in understanding the macroeconomics data. Topics include: No arbitrage, Arrow-Debreu prices, equivalent martingale measure, capital structure, credit constrains, financial intermediate, asset bubbles, and information imperfection.

Theories of externally and internally induced growth: roles of population, human and physical capital, international trade and investment, technology, and government policies; demographic and economic transition; comparison of development strategies.

Hong Kong's post-war economic performance and prospects for further growth and development; analyses of key sectors; income and wealth distributions; Hong Kong, South China, and strategies for economic upgrading.

The course introduces neoclassic and endogenous growth models and their empirical relevance. Topics to be covered are structural changes, international trade, and political economy, with special reference to the Chinese economy.

This course is to ensure that students will acquire research and communication skills through producing a research-based term paper. The paper may be one that has been written for ECON 4959, or any other 4000-level or above Economics course that has a term paper requirement. The paper should embody the equivalence of a minimum of two credits of workload if it is written for ECON 4959. A standard at grade C or above must be obtained for the paper. For Economics students only. Graded P or F.

Faculty directed independent study. May be repeated for credits if different topics are taken.

Special topics in the current development of theoretical and empirical economics; topics vary with instructor.