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Core Courses

ECON 7100 Research Workshops and Seminars

This course aims at preparing students for carrying out academic and applied research work. Students will learn how to identify economic issues, develop testable hypotheses,apply appropriate analytical tools, and write research proposal. This course provides students a thorough understanding of the entire process of doing academic research and applied research in Economics. (Back to Top)

ECON 7310 Economic Institutions in China

This course studies key economic institutions of China that have emerged in the course of transition from a planned to a market economy. These institutions are not necessarily the first-best choices from the perspective of conventional theories of market economy, but they might overcome some of typical institutional weaknesses of transitional economies. Drawing on major contributions in recent economics literature, the costs and benefits of adopting these institutions by China will be analysed. (Back to Top)

ECON 7790 Microeconomics
This course is designed for students who want to learn to become economic analysts, better managers, public officials, lawyers, or members of other such professional groups. Students will investigate the optimisation behaviour of individual agents as well as resource allocation in a decentralised economy. Uncertainty and strategic behaviours will be introduced in this course, too.
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ECON 7800 Macroeconomics
This course introduces the basic macroeconomic models related to economic growth, economic fluctuations, inflation, and monetary policies. The main focus of the course is to train students on applying the relevant macroeconomic models to analyze contemporary macroeconomic issues. In each selected topic, students will learn not only the theory of the model but also the real-world applications of the model. With the building of knowledge on both qualitative and quantitative macroeconomics, students are equipped with tools needed for understanding and conducting macroeconomic policy analysis.
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ECON 7810 Econometric for Economic Analysis
This course aims at covering graduate level applied econometric techniques to quantitatively solve empirical economic problems. In addition to the classical linear regression model, hypothesis testing and problems of non-spherical disturbances, more advanced topics are also considered. Students will be trained to formulate econometric models and to identify the causal relationships between economic variables using computer software. The emphasis is upon the interpretation and testing of results from different econometric estimation procedures. Students will also be provided with practical experience of applying these techniques to quantitatively solve empirical problems that arise in economics and business.
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ECON 7820 Advanced Microeconomics
This course educates students advanced treatments of microeconomics by emphasising more rigorous proofs. Students will investigate the optimisation behaviour of individual agents as well as resource allocation in a decentralised economy. Uncertainty and strategic behaviours will be introduced in this course, too.
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ECON 7830 Advanced Macroeconomics
The course introduces students to important topics in macroeconomics, including growth theories, business cycles, New Keynesian theories, and recent development in macroeconomics. Both theoretical and empirical aspects are the focus of the course. While the theoretical models offer qualitative insights into the working of the economy, the emphasis of the empirical techniques allow students to estimate the economic models and enable them to make use insights for the most current economic studies into the effect of government policy on the economy. With the building of knowledge on both qualitative and quantitative macroeconomics, students are equipped with tools needed for understanding and conducting macroeconomic policy analysis.
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Elective Courses

ECON 7110 Advanced Econometrics

The goal of this course is to provide students with advanced theories in econometrics. The emphasis is on theoretical underpinnings and unifying themes, to be supplemented by applied computer work. Students completed this course should be able to conduct sophisticated empirical research. (Back to Top)

ECON 7210 International Trade

This course aims to provide an up-to-date and understandable analytical framework for illustrating current events of international trade. Most of the time will be devoted to understand the classical as well as modern theories of international trade, trade policy and international economic integration. Topics in international economics with an emphasis on current issues like globalisation, financial crisis, regionalism, will then be studied. (Back to Top)

ECON 7220 International Finance

This subject provides students with an understanding of international finance concepts and applied techniques to international financial management and investment. It focuses on the foreign exchange markets and international capital markets. Students are trained to understand how international firms plan for their international portfolio investment strategies and manage foreign exchange risk in the present global financial environment. (Back to Top)

ECON 7230 Monetary Economics

This course discusses the impacts of monetary policies on output, employment, and inflation. The role of central bank and its interaction with the private sector will be evaluated. In addition, the globalised impacts of one country’s monetary policy on other country’s economies will also be studied. (Back to Top)

ECON 7240 Economic Development and Growth

The aim of this course is to examine the driving forces and mechanisms of the economic development and growth of a country. We will also go through the empirical findings of various issues and assess the growth potentials across countries. (Back to Top)

ECON 7250 Financial Economics

This course provides an overview of advanced financial economics. The topics include an introduction of capital markets, consumption, and investment; capital budgeting, the theory of choice, valuation of securities, portfolio analysis, bond analysis, options and futures markets, International Financial Management, and Efficient Capital Markets. It will provide students with knowledge and skills in applying modern finance theory to risk management and other issues in economics and financial markets. (Back to Top)

ECON7260 Economic Analysis of the Firm

This course introduces theories that explain the sizes, scopes, internal structures, and the kinds of contractual relations that characterise business firms. Issues addressed include: why firms exist, how firms are established, and what contributions firms make to the economy. The course provides innovative models of economic equilibrium that endogenously determine the structure and function of economic institutions. The entrepreneur as a decision maker is analysed in details. In addition to the role of a producer, the firm as an intermediary and as a market maker is also discussed. (Back to Top)

ECON 7270 Topics in Microeconomics

This course aims at bringing current development of microeconomics to students. The topics may vary from year to year, depending on the research and teaching interest of instructors. Those topics are usually not covered or covered only briefly in Advanced Microeconomics. Some examples of topics are: theory of incentives, theory of organisations, mechanism design, modelling multi-person strategic behaviour, general equilibrium, modelling multi-output production, etc. Three to five topics will be covered thoroughly in one semester. (Back to Top)

ECON 7280 Topics in Macroeconomics

This course educates students in knowing the latest development of macroeconomics. The topics may vary from year to year, depending on the research and teaching interest of instructors. Some examples of topics are (i) how macroeconomic theories can be used to understand the complex relationships of a modern market economy, (ii) why fluctuations and sometimes crisis may occur in an economy and (iii) how government policies may be used to stabilise the functioning of an economy. Current macroeconomics issues will be discussed, too, for examples, the causes and remedies of (1) the financial crisis of 2008, (2) the Euro crisis and (3) the long-term stagnation in Japan. (Back to Top)

ECON 7320 Public Finance and Monetary Economics in China

This course aims at providing an in-depth understanding of the functions and the performance of China’s fiscal, monetary and exchange rate systems, as well as their impact on the economy. The reactions and effectiveness of China’s fiscal-monetary mix in alleviating the adverse consequences of the recent global financial tsunami will be analysed using theoretical models and econometric techniques. (Back to Top)

ECON 7330 Foreign Economic Policies of China

This course discusses the foreign economic relations of China with the rest of the world and the foreign economic policies of China. It explores how and why China integrates its economy with the world economy, major conflicts with other countries, and how some of the conflicts were resolved or minimised. (Back to Top)

ECON 7340 Productivity Analysis of the Chinese Economy

This course aims at applying advanced production theory and quantitative techniques for performance gauging in multi-input, multi-output production units. Students will obtain hands-on experience such as evaluating the efficiency losses of firms in various industries and the welfare losses of regional fragmentations. The productivity growth of the Chinese economy before and after the economic reform will also be studied. (Back to Top)

ECON 7350 Corporate Finance and Governance in China

This course is designed to introduce the financial and corporate governance environment in China. The first part explains the models of corporate finance and governance. The second part provides theoretical as well as empirical framwork for the analysis of corporate finance and governance in China. Upon completion of the course, students are expected to have basic understanding on the characteristics of corporate finance and corporate governance in China; and to be able to evaluate policies and potential challenges on the financial markets and corporate governance in China. (Back to Top)

ECON 7410 Development and Policies of Hong Kong’s Major Economic Sectors

The objective of this course is to assist our students to have a better understanding of Hong Kong’s major economic sectors, their interactions with foreign countries, and their integration with the Mainland economy. After learning the theoretical foundations of relevant policies for each sector, the effectiveness of these policies will be evaluated. (Back to Top)

ECON 7420 Applied Time Series Analysis and Forecasting

This course trains students the knowledge and skills of applying time-series models to economic, business and financial analyses. Time series models covered are: cycle and seasonal modeling, stationary and unit roots tests, causality analysis, distributed lag model, Box-Jenkins ARIMA model, dummy dependent model, vector autoregression and error correction model, ARCH and GARCH model, etc. (Back to Top)

ECON 7430 Applied Cost-Benefit Analysis

This course educates students in applied cost-benefit analysis of: (a) private investment, (b) public investment, (c) business strategy, and (d) government policy, with a primary focus of applying economic reasoning and writing/presentation skills to deliver practical information for decision making in a complicated business world. (Back to Top)

ECON 7440 Applied Economics Research Paper

This course aims at training students to apply the knowledge and skills developed in the taught courses of the programme to put together an original and analytical piece of research. It is a complement of classroom learning and seeks to encourage critical thinking and informed judgement. Each student of this course must write a research paper independently under the supervision of a faculty member. The research paper would normally entail the use of empirical methods such as data analysis or econometrics.

This course is offered in the Summer term only and open to students with GPA not less than 3.5 in the first semester. During the second semester, students who plan to take this course choose a research topic and produce a proposal. An academic supervisor is then allocated on the basis of each chosen topic. (Back to Top)

ECON 7450 Energy Economics

This course educates students in (a) interactions among energy, economy, and environment; (b) energy market organisation, regulation and deregulation; (c) energy demand, pricing, investment, supply and costs; (d) energy efficiency, conservation and demand management; and (e) risk management, energy security, emissions control, and renewable energy development. (Back to Top)

 ECON 7460 Banking and Capital Markets

Investment banks and credit rating agencies play a very important role in the global financial markets and commercial real estate sector. The increasing publicity associated with these two industries, and the vast career opportunities offered by them, call for a need to more thoroughly understand what investment banks and credit agencies do and the function they perform in the financial markets and real estate sector. (Back to Top)

ECON 7470 Environmental Economics

Environmental economics is the study of how the conomy affects the environment (the recession has caused a dip in greenhouse gas emissions), how the environment affects the economy (temperate increases adversely affects the skiing industry), and the appropriate way to regulate economic activity so as to achieve an optimal balance between environmental and economic goals ( which is the best way to regulate carbon emissions, a cap-and-trade scheme or an emission tax?).(Back to Top)

ECON 7480 Industrial Organization

This course provides an in-depth analysis of the theory of Industrial Organization. Students will be introduced to the theory of the firm, including the determinants of market structure, firms’ pricing decision under different market structure and its related welfare implications and other business strategic decisions (product differentiation, advertising, research and development). Government regulations and competition policy will also be discussed.(Back to Top)

ECON 7490 Business Economics Field Study

This course aims at providing student overseas exposure to understanding and examining economic or/and business environment. The site visit at the chosen location(s) lasts up to 3 weeks. With respect to the location(s) of the field trip, students are required to do the groundwork regarding the economic and business situation before setting off. During the field trip, by means of company/institution visits, seminars and workshops, and talks by professionals, students would have a thorough understanding of particular industrial/business sectors or/and an overall view of the economy. After the field trip, students work as a group in performing economic analyses based on the overseas exposure provided. Course instructor(s) will provide feedbacks on the presentation of the report submitted by the students.(Back to Top)

ECON 7780 Economic and Financial Risk Management for Financial Institutions

This course introduces fundamental concepts of risk management for financial institutions. It focuses on the measurement and management of risks that financial institutions encounter, including market risk, credit risk, liquidity risk, and operational risk. It evaluates and applies different tools and procedures, comprising quantitative measures, qualitative assessment, and enterprise risk management, to measure and manage risk. Problems and challenges that can arise in the risk management process are also addressed.(Back to Top)