Topics discussed include the behavior of individual economic agents (households, firms and governments), the determination of prices and quantities in individual markets for commodities and resources, and the role of governments in the functioning of the market system.

PREREQUISITE: None.

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.

PREREQUISITE: None.

Topics discussed include optimal patterns of consumption and production, analysis of market equilibrium, and the structure of different types of product markets.

PREREQUISITE: ECMC100 Basic Microeconomics

A continuation of ECMC200. Topics discussed include utility theory, the theory of revealed preference, the comparative statics of the consumer (Slutsky equation), consumer behavior with an endowment in goods, and intertemporal choice.

PREREQUISITE: ECMC200 Intermediate Microeconomics I

This course places emphases on the long-run and short-run analysis by developing and applying the IS-LM model and the AS-AD model, supplemented by growth theories and the modern macroeconomic controversies.

PREREQUISITE: ECMC110 Basic Macroeconomics

A continuation of ECMC 210. Topics discussed include the microfoundation of consumption and investment functions, demand and supply of money, problems of inflation and unemployment, deficit and inflation, and open economy macroeconomics.

PREREQUISITE: ECMC210 Intermediate Macroeconomics I

Topics discussed include Ricardo’s theory of comparative advantage; the Samuelson-Jones model of specific factors and income distribution; the Heckscher-Ohlin model of factor proportions; the standard trade model synthesis; the Krugman model of increasing returns; the instruments of trade policy; the political economy of trade policy.

Topics discussed 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.

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.

This course introduces concepts, measurement and approaches to the studies of economic development.  Sources of economic growth and various traditional and modern development theories are also examined.

This course places emphasis on the economic development of Macau in the past twenty years and the current problems that it faces. Sectoral analysis includes the gambling and tourism, manufacturing, construction, and banking. Current issues such as structural change and unemployment of the local economy will also be discussed.

PREREQUISITE: None.

The focus of this course is on describing and analyzing the economic performance of the People’s Republic of China, and on developing key concepts and definitions needed to understand and interpret economic statistics and other economic information available from Chinese sources.

PREREQUISITE: None.

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.

An continuation of ECMC381. The course will introduce the regression of time series and panel data. Serial correlation and heteroskedasticity will be discussed. The focus will be on the manipulation of data and the intuition of the statistical method.
PREREQUISITE: ECMC381 Econometrics I

The course applies microeconomic theory to issues of the labor market: supply of labor, demand for labor, life-time labor allocation, immigration, differential wages, education and training on the job, efficiency wages and incentive contracts.

PREREQUISITE: ECMC200 Intermediate Microeconomics

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.

PREREQUISITES: ECMC200 Intermediate Microeconomics I

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.

PREREQUISITE: ECMC110 Basic Macroeconomics

This course discusses the policy problems and economic implications associated with public sector expenditure and taxation measures.

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.

PREREQUISITE: None.