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
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
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
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
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
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
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
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
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
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
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
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: ECON1000 and ECON1001
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
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
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
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
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: ECON2002 and ECON2004
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: ECON2002 and ECON2004
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
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: ECON2002 and ECON2003
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
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
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
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
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
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
Topics include asymmetric information, adverse selection, moral hazard, signaling, screening, mechanism design and contracting.
Prerequisite: ECON2003
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
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
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
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
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
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
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
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
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
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