An introduction to the principles of microeconomics. Topics discussed include fundamentals of the market system, determinants of consumer demand, output and pricing decisions of firms, the operations of competitive, monopolistically competitive, monopoly, and oligopoly product markets, labor and other factor markets, and the role of governments in economic activity.

Pre-requisite: None

CILO-1: Explain the behaviour of individual economic agents, such as households, firms, and governments, and how they allocate resources and respond to changes in the market.

CILO-2: Analyze the laws of supply and demand and how they interact to determine the equilibrium price and quantity of a commodity or resource in a specific market.

CILO-3: Apply microeconomic concepts to real-world scenarios, such as analyzing the effects of taxes or subsidies on market outcomes or technological advances on market structure.

CILO-4: Evaluate the role of governments in the functioning of the market system, including how governments can intervene in the market to correct market failures or promote social welfare, and the potential costs and benefits of such interventions.

An introductory course in macroeconomic principles. Topics discussed include determination of national income; national income accounting; unemployment and inflation; stabilization instruments of fiscal and monetary policy; economic models developed by Classical and Keynesian economists and the monetarist school.

Pre-requisite: None

CILO-1: Explain macroeconomic concepts and theories that are applicable in daily life, such as the operation of markets, the role of government policies, and the impact of economic events.

CILO-2: Apply basic tools of economic analysis to evaluate macroeconomic issues, including measuring economic performance, identifying macroeconomic trends, and analyzing the impact of macroeconomic policies.

CILO-3: Identify and explain the key factors that affect the overall performance of an economy, including economic growth, inflation, and unemployment, and the interrelationship between these factors.

CILO-4: Identify and explain the economic effects of government policies, including monetary and fiscal policies, on the overall health of the economy, and assess the trade-offs associated with different policy choices.

The course is designed to prepare students to apply mathematical analysis to problems in economics. The course emphasizes the mathematics of differential calculus, including the concept of the derivative and its use in the analysis of functions. Concepts of matrices are also introduced. Illustrative applications to topics in social sciences are given throughout.

Pre-requisite: None

CILO-1: Apply mathematical concepts such as calculus, linear algebra, and optimization to analyze economic problems and develop solutions.

CILO-2: Apply statistical methods and techniques to analyze and interpret economic data, including regression analysis and hypothesis testing.

CILO-3: Interpret and discuss basic mathematical concepts and notation used in economics, such as functions, derivatives, integrals, and matrices.

CILO-4: Apply mathematical tools to analyze economic problems and draw conclusions based on quantitative analysis.

A continuation of Mathematics I. The course discusses multivariable calculus and its application for solving optimization and analyzing comparative statics of economics. The course also introduces economic dynamic and integral calculus, including dynamics and integration, definite integrals, improper integrals, and their applications.

Pre-requisite: ECON1002

CILO-1: Apply mathematical techniques to solve economic problems and analyze economic data.

CILO-2: Apply advanced mathematical concepts such as optimization, partial differentiation, and integration to model and solve economic and financial problems.

CILO-3: Apply linear algebra and matrix theory to analyze economic models and systems.

CILO-4: Interpret and analyze economic data using statistical tools such as regression analysis and hypothesis testing.

Topics discussed include descriptive statistics; probability theory; probability distributions, and sampling distribution. The course is also an introduction to estimation and hypothesis testing. Students are required to use a software package, specifically Microsoft Excel.

Pre-requisite: None

CILO-1: Analyze and describe a given dataset using descriptive statistics techniques, such as measures of central tendency and measures of variability.

CILO-2: Apply probability theory and probability distributions to analyze and interpret real-world data. This includes the ability to identify and calculate the probability of events, such as the probability of a certain outcome occurring in a given situation.

CILO-3: Utilize sampling distributions, which involves the concept of taking repeated samples from a population and calculating a statistic for each sample, to make inferences about a population.

CILO-4: Use a software package such as Microsoft Excel or Python to perform statistical analysis on real-world data, including data visualization, hypothesis testing, and estimation techniques.

The course is a sequence following Statistical Analysis I. The course includes topics in estimations and hypothesis testing for multiple populations, simple linear regression, non-parametric analysis, and time-series analysis.

Pre-requisite: ECON2000

CILO-1: Demonstrate an understanding of basic and advanced concepts related to data analysis, including probability, statistical analysis, and sampling techniques.

CILO-2: Identify appropriate statistical methods for analyzing data and making inferences about statistical populations.

CILO-3: Evaluate the validity and reliability of presented data and statistical results.

CILO-4: Apply estimation and hypothesis testing techniques to multiple populations, perform simple linear regression and non-parametric analyses, and conduct time-series analyses to extract meaningful insights from data.

The study of the behavior of individual participants in the economy. This intermediate-level course emphasizes optimal patterns of consumption and production, analysis of market equilibrium, and the structure of different types of product markets.

Pre-requisite: ECON1000

CILO-1: Apply theoretical concepts and analytical tools to analyze the information and draw conclusions from it.

CILO-2: Critically analyze the pros and cons of different policies and make informed recommendations based on their analysis.

CILO-3: Synthesize various pieces of economic information and integrate them into a cohesive analysis, including combining theoretical concepts with empirical data to draw conclusions about economic phenomena.

CILO-4: Identify how economic theory can be used to explain and predict real-world economic phenomena.

A continuation of Intermediate Microeconomics I. The course analyzes different models of oligopolistic market and factor market equilibrium. Other topics discussed include welfare economics, general equilibrium analysis, externalities, public goods, intertemporal choice, uncertainty, imperfect information.

Pre-requisite: ECON2002

CILO-1: Analyze pricing strategies and market outcomes under different forms of imperfect competition, using game theory as a tool.

CILO-2: Evaluate the effects of asymmetric information on market efficiency and welfare, and identify ways to mitigate its negative impact through mechanisms such as signaling and screening.

CILO-3: Apply economic principles to explain the determination of wages and the supply of labor in input markets, taking into account factors such as human capital and labor market institutions.

CILO-4: Assess the causes and consequences of externalities and public goods, and suggest policies that can internalize external costs and promote the provision of public goods.

An intermediate-level course studying the operations of the aggregate economy. Subjects covered include national income accounting, IS-LM model, aggregate demand and supply, fiscal policy, monetary policy, economic growth and the dynamic AD-AS model.

Pre-requisite: ECON1001

CILO-1: Interpret fundamental concepts and tools of intermediate macroeconomics, including the Investment-Saving-Liquidity-Preference-Money-Supply (i.e. IS-LM) model and the dynamic Aggregate Supply-Aggregate Demand (i.e. AS-AD) model, and apply them to in analyze the economy’s long-run and short-run behaviour.

CILO-2: Analyze the effects of monetary and fiscal policies on aggregate demand, output, inflation, and other key macroeconomic variables, using the models learned in the course.

CILO-3: Evaluate the implications of different macroeconomic policies and shocks, such as changes in government spending, taxation, interest rates, exchange rates, and international trade, on the economy’s overall performance.

CILO-4: Assess the strengths and limitations of macroeconomic models and policy recommendations, and to analyze real-world economic problems and challenges from a macroeconomic perspective.

A continuation of Intermediate Macroeconomics I, subjects covered include economic growth, microfoundation of consumption and investment functions, demand and supply of money, problems of inflation and unemployment, deficit and inflation, and open economy macroeconomics. The theoretical foundations for formulating and implementing effective macroeconomic policies are also studied.

Pre-requisite: ECON2004

CILO-1: Explain and summarize basic growth models and their implications for the economy.

CILO-2: Analyze the behavioural foundations of macroeconomic phenomena such as consumption and savings, investment spending, and the supply and demand of money and financial systems.

CILO-3: Evaluate the open economy version of Investment-Saving-Liquidity- Preference-Money-Supply (i.e. IS-LM) and its implications for the macro economy.

CILO-4: Apply economic models and theories to real-world scenarios and policy issues, and develop informed policy recommendations based on analysis of macroeconomic data.

This course discusses the application of economic principles and methodologies to the decision-making process of firms or organizations. Rules and principles are introduced that aim at facilitating the attainment of the desired economic goals of management. Economic theory and the analytical tools of decision science are integrated to examine how an organization can achieve its goals most efficiently.

Pre-requisite: ECON2002

CILO-1: Apply economic tools to analyse various business scenarios and make informed business decisions that are backed by sound economic reasoning.

CILO-2: Explain various factors that influence demand, production, and costs related to business’s production decisions.

CILO-3: Analyze pricing strategies and make informed decisions on how to price their products or services to maximize profits while taking into consideration the competitive landscape.

CILO-4: Evaluate how strategic behaviour and incentive design impact organizational performance and apply this knowledge to make better business decisions.

This course provides an understanding of the economic role of money, focusing on discussion of different schools of thought relating to the significance of money and monetary variables.

Pre-requisite: ECON1001

CILO-1: Summarize and explain the economic theories underpinning the design and implementation of monetary policy, including the factors that influence the decision-making process of central banks.

CILO-2: Analyze and evaluate the complex interactions between monetary policy, banking, and financial markets, and their impact on economic outcomes in different countries and contexts.

CILO-3: Apply economic models and analytical tools to real-world situations, including the assessment of the effectiveness of monetary policy measures in achieving macroeconomic objectives such as price stability and full employment.

CILO-4: Critically evaluate the role of financial regulation and supervision in ensuring the stability and resilience of the banking system, and assess the potential benefits and drawbacks of alternative policy approaches in addressing systemic risks and promoting financial stability.

Introduces elementary econometric techniques beginning with single- and multi-variable ordinary least squares regression models. Also discussed are generalized least squares methods, the problems of heteroskedasticity and autocorrelation, and the concept of multicollinearity.

Pre-requisite: ECON2000 and ECON2001

CILO-1: Apply statistical tools to test economic models and analyze the relationship between economic variables.
CILO-2: Evaluate policy changes quantitatively using appropriate econometric techniques.
CILO-3: Perceive technical details and prove simple results related to econometric theory.
CILO-4: Apply econometric tools to perform simple but sensible data analysis on their own and apply them to real-life economic problems in various contexts.

A continuation of Econometrics I. The course explores more advanced topics in single and multivariate regression analysis, making use of matrix algebra. Empirical studies of econometric relationships make use of econometric software packages, such as EViews, STATA and others.

Pre-requisite: ECON3002

CILO-1: Apply econometric techniques to analyze data sets in economics, business, and finance, using statistical software to provide the results and then interpreting and commenting on these results.
CILO-2: Use the matrix approach to Ordinary Least Square, including estimating and interpreting parameters, and how to test hypotheses using matrix algebra.
CILO-3: Identify and correct for potential issues such as heteroscedasticity, autocorrelation, and misspecification in regression models, and explain the consequences of failing to address these issues.
CILO-4: Analyze financial time series data, including testing for unit roots and cointegration, and using simple forecasting models such as seasonal indices and Autoregressive Integrated Moving Average (i.e. ARIMA) models.

Introduces mathematical tools and techniques used in the study of economics at an advanced level. Subjects discussed include static analysis, comparative statics, optimization methods, dynamic analysis, and mathematical programming.

Pre-requisite: ECON1002 and ECON1003

CILO-1: Apply optimization theory to model rational choices in microeconomic analyses.

CILO-2: Analyze market equilibrium using mathematical tools and techniques.

CILO-3: Conduct welfare analysis in economics using mathematical methods.

CILO-4: Articulate economic reasoning underlying the formal analysis in both microeconomics and macroeconomics.

Presents an overview of different economic forecasting methods, including judgmental, decomposition, exponential smoothing, seasonal ARIMA and econometric methods. Particular emphasis is laid on the use of forecasting methods in practical circumstances. Computer programmes such as Excel, EViews and STATA will be used.

Pre-requisite: ECON1002, ECON1003 and ECON2000

CILO-1: Apply various statistical and econometric techniques to forecast economic variables.

CILO-2: Describe the advantages and limitations of different forecasting methods and how to select the appropriate method for a given situation.

CILO-3: Evaluate the accuracy of economic forecasts and make adjustments when necessary.

CILO-4: Communicate economic forecasts and the reasoning behind them effectively to stakeholders.

A course combining a theoretical treatment of the basis for international trade, focused on comparative advantage, reciprocal demand, factor endowments, and other trade theories, with an examination of the economic effect of various trade policies including tariff and non-tariff trade barriers. The integration of economies through trade and the international movement of factors of production are also discussed. Applications of theoretical models for analyzing current affairs are discussed throughout.

Pre-requisites: ECON1000

CILO-1: Analyze and evaluate the economic impact of various trade policies, including both tariff and non-tariff barriers, on international trade and the global economy.

CILO-2: Apply theoretical models of international trade, including comparative advantage, factor endowments, and reciprocal demand, to analyze current economic affairs.

CILO-3: Explain the process of economic integration and the movement of factors of production across borders.

CILO-4: Evaluate debates among international trade theorists and economists about fundamental issues in theory and research methodologies.

Topics covered in this course include the monetary approach to the balance of payments; different exchange rate regimes; international capital mobility; international monetary organizations; markets for foreign exchange, including the Eurocurrency markets; the automatic adjustment mechanism; interest-rate and purchasing-power parities; speculative activity in money markets; and the setting of international macroeconomic policy.

Pre-requisites: ECON1001

CILO-1: Analyze and evaluate the impact of different exchange rate regimes on international trade, investment, and capital flows.

CILO-2: Apply the concepts of interest-rate and purchasing-power parities to summarize the factors affecting international trade and capital flows, and to make predictions about future exchange rates.

CILO-3: Assess the role and effectiveness of international monetary organizations in promoting international financial stability and managing currency crises.

CILO-4: Evaluate the impact of speculative activity in money markets on exchange rates, capital flows, and macroeconomic policy, and recommend strategies for managing risks associated with such activity.

Topics covered in this course include the concept of economic development, the measurement of levels of development, poverty and inequality, population, education and health, migration, agricultural and industrial development, the roles of the state and the market, financial and fiscal policies, foreign trade, and environmental issues in developing countries.

Pre-requisites: ECON1000 and ECON1001

CILO-1: Explain the complex nature of economic development and its vital importance, particularly to developing countries, by analyzing key concepts, approaches, and measures used to study and evaluate development progress.
CILO-2: Evaluate and apply theories of economic development to analyze and explain various development issues faced by developing countries, such as poverty, inequality, and environmental degradation.
CILO-3: Critically analyze development policies and programs implemented by governments and international organizations, by evaluating their effectiveness, impacts, and potential trade-offs, and propose alternative policy solutions based on sound economic principles.
CILO-4: Conduct independent research on a specific development issue, using appropriate quantitative and qualitative methods, and present findings in a clear and concise manner, while adhering to ethical and professional standards in academic writing and research.

This course focuses on the comparative analysis of the economies of different countries. It develops a theoretical framework for comparing two polar types of economic system – capitalist and socialist – and examines the economies of the United States and the former Soviet Union as representative examples of these polar types. Other countries are studied to develop an appreciation of the broad range of economic systems found in the real world.

Pre-requisites: ECON1000

CILO-1: Analyze the economic concepts and theories underlying the transition from centrally-planned economies to market economies, with a focus on the role of institutions and institutional change.

CILO-2: Evaluate the challenges and opportunities faced by transitional economies, such as China and East European countries, in implementing market-oriented reforms and building efficient economic organizations.

CILO-3: Apply transaction-cost economics and related frameworks, including organization theory and contract theory, to real-world examples of economic transition and organizational restructuring.

CILO-4: Describe the complexities and nuances of economic organization, institutional change, and market-oriented reform, and the implications of these phenomena for economic growth, development, and policy.

This course provides basic knowledge on the economies of Hong Kong, Macao and the Pearl River Delta region. It focuses on the development of these economic entities in the past 10 -20 years and how these economies interact with each other and integrate into a regional economic bloc.

Pre-requisite: None

CILO-1: Discuss and compare the economic development of Hong Kong, Macao, and the Pearl River Delta region in the past 30 years, including the key drivers, challenges, and opportunities that have shaped their growth trajectories.

CILO-2: Analyze the economic structure and performance of these regions, including the role of trade, finance, manufacturing, and services sectors, and how they have contributed to regional and global economic integration.

CILO-3: Evaluate the policy and institutional frameworks that have supported the economic growth of these regions, including the role of government, market forces, and international cooperation.

CILO-4: Apply economic theories and concepts to real-world issues and challenges facing these regions, such as income inequality, environmental sustainability, and demographic changes, and produce strategies to address them.

This course surveys the ongoing process of economic integration in Europe and critically evaluates the performance from the early stage of integration to the current EMU. The increasing trade and economic relations between China and Europe and the role of Macao are also examined.

Pre-requisite: None

CILO-1: Describe the historical development of European economies and identify the factors that have contributed to their success or challenges.
CILO-2: Analyze the impact of globalization on European economies and the challenges posed by international trade and investment.
CILO-3: Evaluate the role of institutions in economic growth and the challenges faced by European countries in maintaining their institutional frameworks.
CILO-4: Critically assess the economic policies of European countries, including monetary and fiscal policy, and the role of the European Union in shaping economic outcomes.

An intensive survey of the development of economic thought. The course introduces the work of outstanding thinkers and theoreticians in economics through discussion of the varied traditions of thought that have developed in the discipline.

Pre-requisites: ECON2002 and ECON2004

CILO-1: Describe the philosophical principles that underpin the history of economic thought, including the shifting ideologies of prominent economists throughout different regions and eras.

CILO-2: Critically analyze how various economic principles and theories can be applied to contemporary economic and business phenomena, taking into account the different global and regional contexts in which they operate.

CILO-3: Identify the historical and social factors that have influenced the development of economic thought, including the impact of political, cultural, and technological changes on economic theory and practice.

CILO-4: Apply critical thinking skills to evaluate the strengths and weaknesses of different economic theories, and to assess their relevance and applicability to contemporary economic issues and challenges.

A course on the application of economic principles to private and public decision making. Topics discussed include pricing decisions and microeconomic forecasting carried out by firms, and the policy consequences of the measurement, forecasting and interpretation of aggregate economic variables carried out by governments.

Pre-requisites: ECON1000 and ECON1001

CILO-1: Analyze real world issues from a multi-disciplinary perspective, incorporating analytical tools from related disciplines such as political science, sociology, history, and geography.
CILO-2: Evaluate the economic implications of complex real world issues, including both domestic and international concerns, and synthesize this information with insights from other academic fields to draw conclusions.
CILO-3: Think critically and creatively about economic problems and apply economic tools to propose effective solutions.
CILO-4: Identify and discuss the relationship between economic issues and other social, political, and cultural factors, and apply this knowledge to make informed decisions and recommendations.

This course is a rigorous treatment of microeconomic theory making extensive use of mathematical tools, including differential calculus and constrained optimization. Topics discussed include public choice, risky assets, game theory, welfare, law and economics.

Pre-requisite: ECON2002

CILO-1: Analyze and interpret statistical data related to microeconomic decision-making, including identifying trends and patterns in data sets and making informed conclusions based on statistical analysis.
CILO-2: Apply choice under uncertainty principles to real-world scenarios, including decision-making under risk, ambiguity, and uncertainty, and evaluate the impact of risk aversion, probability weighting, and other factors on decision outcomes.
CILO-3: Evaluate strategic interactions between economic agents using game theory tools, including analyzing the impact of cooperation, competition, and strategic behaviour on outcomes, and identifying Nash equilibrium solutions.
CILO-4: Analyze principal-agent problems in various settings, including identifying the incentives and information asymmetries that arise between principals and agents, and developing mechanisms to mitigate adverse selection and moral hazard.

This course is designed to study static games as well as dynamic games, and in each case imperfect information is allowed. As such, the core solution concepts of Nash equilibrium and its variants will be covered. Selected economic applications of game theory, especially to the broadly defined economics of information, will also be discussed.

Pre-requisite: ECON2003

CILO-1: Analyze various types of games, and identify the Nash equilibrium and other key concepts in game theory.

CILO-2: Apply game theory concepts to real-world situations, such as predicting market behaviour, analyzing political negotiations, and understanding social dynamics.

CILO-3: Evaluate the strengths and limitations of game theory as a tool for understanding human behaviour and decision-making.

CILO-4: Critically evaluate and communicate the implications of game theory research to a broader audience, such as policymakers or the general public.

Topics include asymmetric information, adverse selection, moral hazard, signaling, screening, mechanism design and contracting.

Prerequisite: ECON2003

CILO-1: Analyze and evaluate the economic implications of information asymmetry and the role of information in market transactions.

CILO-2: Apply economic theories and models to analyze the impact of regulation and public policy on information dissemination and utilization.

CILO-3: Explain the concept of adverse selection, signaling, and moral hazard, and their implications for various economic actors and markets.

CILO-4: Evaluate the economic impact of digital platforms and new information technologies on market structures, competition, and consumer welfare.

A course providing the theoretical knowledge necessary to understand the economics of public sector activity. Concepts discussed include Pareto optimality, public goods, externalities, public choice models, and cost-benefit analysis.

Pre-requisite: ECON2003

CILO-1: Analyze the criteria and methods for measuring welfare changes in different economic contexts and evaluate the implications of policy decisions on social welfare.

CILO-2: Evaluate the impact of externalities and public goods on market outcomes and analyze different policy interventions, such as taxation and regulation, to improve welfare outcomes.

CILO-3: Apply welfare economics principles to analyze the design of optimal taxation schemes that balance revenue generation and welfare considerations.

CILO-4: Apply welfare economics principles to analyze voting systems and understand their implications on welfare outcomes.

A rigorous treatment of macroeconomic theory, developed from a standard general equilibrium framework. The course examines various modern macroeconomic models with microeconomic foundation, especially growth models and overlapping generation models. These models will be used to discuss the topics in long-term economic growth, taxation, inflation, and social security. This course will also serve as a preparatory course for graduate level study.

Pre-requisite: ECON2004

CILO-1: Identify and analyze the factors that contribute to economic growth and the limitations of formal models in explaining growth dynamics.

CILO-2: Examine the relationship between innovation and economic growth and gain an understanding of the different policy approaches governments might take to promote innovation and improve economic growth.

CILO-3: Apply macroeconomic analysis to real-world economic issues such as economic growth, recessions, booms, unemployment, fiscal policy, and monetary policy.

CILO-4: Analyze and evaluate different macroeconomic models and theories, including formal models of economic growth, to compare the strengths and limitations of each approach.

This course aims to provide students with some basic understandings about the role of government and the reasons of government interventions in the economy. How households respond to the government interventions will also be discussed.

Pre-requisites: ECON2002 and ECON2004

CILO-1: Apply formal economic analysis to identify the role of government in addressing economic problems, such as externalities and public goods, and the implications of public sector expenditures and taxation on economic welfare.

CILO-2: Critically evaluate the effectiveness of various government policies and programs, including social security, in achieving their intended objectives and addressing market failures.

CILO-3: Analyze the political process and public choice models to examine how government decisions are made and the potential implications of political factors on economic outcomes.

CILO-4: Identify and discuss the role of government in promoting economic growth and improving societal welfare, taking into account the trade-offs and challenges associated with different policy options.

An introduction to the concept of the labor market, and the elements that distinguish it from commodity or other factor markets. The economic theory of trade union behavior is discussed, as well as the effects of unions on labor markets and the economy as a whole. Economic statistics from Macao, Hong Kong, China and the United States are applied to understand problems of the labor markets in those countries.

Pre-requisite: ECON2002

CILO-1: Describe the fundamental concepts, theories, and methods used in analyzing labor markets, including the relationships between macroeconomic phenomena such as unemployment and individual behaviour in the labor market.
CILO-2: Apply economic models to make predictions about the impact of public policy recommendations on the labor market, and evaluate existing data relating to these predictions.
CILO-3: Analyze key features of the labor market, such as labor supply, labor demand, wage determination, monopsony, efficiency wage theories, job search, principal-agent problems, wage bargaining, and discrimination.
CILO-4: Evaluate the implications of labor market theory and analysis for public policy, and assess the potential effectiveness of various policy proposals in addressing labor market issues such as unemployment, wage inequality, and discrimination.

This course is an analysis of competition and monopoly power in market economies. It discusses elements and determinants of market structure, the effects of market power on economic performance, the behavior of firms under different market structures, and policies for regulating markets including antitrust policies. The activities of public enterprises are briefly discussed.

Pre-requisites: ECON2002

CILO-1: Analyze and evaluate the structure of different markets, including the degree of competition, barriers to entry, and the impact of market power on firm behaviour and consumer welfare.

CILO-2: Apply the basic concepts and techniques of game theory to analyze strategic interactions among firms, including the determination of prices, output, advertising, and research and development investments.

CILO-3: Critically assess the empirical evidence on market conduct and performance, including the identification of relevant market parameters, the measurement of market power and efficiency, and the evaluation of antitrust policies.

CILO-4: Evaluate the strategic implications of product differentiation, advertising, innovation, and international trade for firm behaviour and market outcomes, and apply relevant models and methods to analyze these issues.

This course discusses the application of microeconomic and econometric theory to common legal problems: torts, contracts, property and crime, and the limitations of economic analysis. No previous familiarity with the law is assumed.

Pre-requisite: ECON2003

CILO-1: Apply economic analysis to real-world legal problems, such as environmental regulation, intellectual property rights, and criminal law.

CILO-2: Evaluate how economic theory can be applied to legal issues, and vice versa.

CILO-3: Analyze legal institutions and doctrines using economic concepts and tools, such as incentives and optimization.

CILO-4: Critically evaluate the strengths and limitations of the law and economics approach to legal analysis and policy.

This course provides students with an understanding of the modern Macao economy. Emphasis will be placed on the economic development in the past twenty years. Sectoral analysis includes the dominant tourism, manufacturing, construction, and banking. Current issues such as structural change of the economy will be discussed.

Pre-requisite: None

CILO-1: Identify and discuss the key sectors that drive the Macao economy, including gaming and tourism, manufacturing, construction, banking, and housing markets, and their roles in shaping the Macao’s economic development over the past three decades.

CILO-2: Analyze the current economic issues facing Macao, such as structural change, inflation, and unemployment, and evaluate the potential implications for the country’s future economic growth and development.

CILO-3: Assess the impact of external factors on the Macao economy, including global economic trends and policies, regional trade agreements, and geopolitical events, and identify potential opportunities and challenges for the Macao’s economic development in the future.

CILO-4: Describe the economic policies and strategies that have been implemented by the Macao government to promote economic growth and stability, and evaluate their effectiveness in addressing the country’s economic challenges and achieving its development goals.

The focus of this course is on reviewing and analyzing the economic performance of China. Topics include economic transition, reforms on agriculture and industry, fiscal and monetary issues, development of the non-state sectors, trade and foreign direct investment, social security system and others.

Pre-requisite: None

CILO-1: Analyze China’s economic development from 1949 to present, with a focus on the transition from a planned economy to a more market-driven economy.

CILO-2: Evaluate the development strategies implemented by China in the post-1978 period and understand how they contributed to China’s economic growth.

CILO-3: Apply basic economic tools and theories to analyze economic phenomena related to China.

CILO-4: Identify and discuss the factors that have contributed to China’s economic success and evaluate the potential challenges that China’s economy may face in the future.

A course focusing on the economies of nations and territories within the Asia-Pacific region. The economic relationships among different countries within the region are a focus of attention, as are the economic links between the region and other parts of the world.

Pre-requisite: None

CILO-1: Describe the economic development and growth process of the Asia-Pacific economies, including industrial policies, trade issues, regional integration, and financial crises.

CILO-2: Apply basic economic concepts and techniques to analyze economic issues and problems in the Asia-Pacific region.

CILO-3: Analyze the economic relationship between China and other countries in the Asia-Pacific region.

CILO-4: Summarize the unique economic challenges facing the Asia-Pacific region and discuss the policies that can be used to address them.

This course is an introduction to economics of financial assets and financial markets. Topics: inter-temporal choice, expected utility theory, security valuation, selected asset pricing models, market efficiency, and the term structure of interest rates.

Pre-requisite: ECON2003

CILO-1: Discuss the various financial instruments and markets, including stocks, bonds, and derivatives, and their pricing and use in investment decision-making.

CILO-2: Apply portfolio theory to construct optimal portfolios that balance risk and return, based on their risk preferences and investment goals.

CILO-3: Analyze the term structure of interest rates and bond pricing, and evaluate the impact of interest rate changes on investment decisions.

CILO-4: Conduct security analysis to identify mispricing in financial assets, and utilize asset pricing models to estimate the fair value of these assets.