ECO3110
ntroductory
Mathematical Economics
1st term
Topics of this course include: convex analysis, linear and non-linear programming,
basic topology, existence and stability of Walrasion equilibrium, calculus of
variations, dynamic programming.
Suggested preparation: ECO1011, 1021
and 1111.
ECO3110 Lecturer : Prof. Wong Kam Chau Course Outline
ECO3121
ntroductory
Econometrics
1st term
This course studies the basic econometrics theory and the application of econometric
methods to actual economic data. The emphasis is on explaining basic ideas rather
than on presenting formulas and rules. Topics covered are: basic concepts of
statistical inference; heteroskedasticity; disturbance related sets of regression
equations; multicollinearity; autocorrelation; and specification, identification,
and estimation of simultaneous equation models.
Suggested preparation: ECO2121.
ECO3121 Lecturer : Prof. Chou Win Lin
Course
Outline
ECO3131
pplied
Forecasting Methods
2nd term
The emphasis of this course is on forecasting methods and the analysis of economic
data. Topics include: theory of forecasting, econometric approach to forecasting,
modelling and forecasting with ARMA processes, combination of forecasts, and
evaluatioin of forecasts. Applications of the methods to forecast key macroeconomic
time series of the Hong Kong economy are also discussed.
Suggested preparation: ECO1021,ECO3121.
ECO3131 Lecturer : Prof. Chou Win Lin
ECO3140
inancial
Data Analysis
2nd term
This course provides an introduction to the modern econometric techniques used
in financial time series. Economic theory and statistical analysis are used
to formulate and test financial models. Applications include the statistical
characteristics and forecasting of stock prices, derivatives, interest rates
and exchange rates. Students are advised to take ECO
3121 before taking this course.
ECO3140 Lecturer : Prof. Kwan Cheuk Chiu
ECO3150
uantitative
Methods in Economics II
2nd term
This course is a continuation of ECO1111. Topics
include implicit function theorem, optimization for multiple variable functions,
Lagrangian method, concave and quasiconcave functions, differential equation
and difference equations. Economic applications include comparative statics,
profit maximization, utility maximization and consumer demand, and dynamic models(continuous
and discrete time). Students are advised to take ECO
1111 before taking this course.
ECO3150 Lecturer : Prof. Zeng Zhixiong
ECO3230
ew
Political Economy
1st Term
This course applies economic analysis to the study of political behaviour and
the relationship between the state and the economy. Topics covered include:
social choice, collective action, voting and elections, interest groups, bureaucracy,
constitution, judicial process, and institutional change.
Suggested preparation: ECO 1011 and 1021.
ECO3230 Lecturer : Prof. Leung Ka Yui Charles Course Outline
ECO3240
conomics
of Transition
2nd Term
This course applies simple economic analysis to the study of transitional economics,
including countries in Eastern Europe, former Soviet Union and China, Emphasis
will be on the study of economic system and firm from the perspective of economic
organization. Topics will include historical review and reasons for reform,
coordination and incentives, reform strategies (big bang versus gradualism),
macroeconomic stablization and price liberalization, capital market and financial
reform, ownership, property rights and privatization, restructuring and management
of state-owned enterprises, entrepreneur and evolution of private firms, foreign
trade, income distribution and social security, comparison of reform experience
in Eastern Europe and in China.
ECO3240 Lecturer : Teacher B
ECO3310
conomy
of China
1st term
This course covers the following topics: a review of China's economy before
1949; growth patterns and structure changes of the macro economy and sectoral
economies; human resources and labour employment; value theory and price issues;
wage income, welfare schemes, and income policies; economic system of agricultural,
industrial and tertiary sectors; macroeconomic management of public finance,
money and banking and foreign trade; and the political economy of Chinese socialism.
Suggested preparation: ECO 1011 and 1021.
ECO3310 Lecturer : Prof. Tsui Kai Yuen Course Outline
ECO3320
sia-Pacific
Economies
2nd term
This course is a general survey of economies in the Asia-Pacific region focussing
on Japan, South Korea, Taiwan and the ASEAN countries. The emphasis is on their
economic interrelationship. Topics will include economic growth, export competition,
regional trade, protectionism, and the role of government in the economic development.
Suggested preparation: ECO 1101 and 1021.
ECO3320 Lecturer : Dr. Tang Hak Kan, Sammy
ECO3340
rade
and Investment Among the Chinese Economies
2nd term
This course focuses on the integration of Mainland China, Taiwan, and Hong Kong
as an economic area. It covers the theory of economic integration, and examines
the evolution of economic reform and the open policy on the Mainland, changes
in Taiwan's policy towards the Mainland, the pattern of trade and investment
among the three economies, effects of economic integration, the pivotal role
of Hong Kong in the external trade and investment of the Mainland, prospects
of economic cooperation among the three economies, the potential of the Chinese
Economic Area to emerge as a trade bloc, and the impact of the Chinese Economic
Area on the world economy.
Suggested preparation: ECO 1011 and 1021.
ECO3340 Lecturer : Prof. Sung Yun Wing
ECO3350
ong
Kong Economy After the Financial Crisis
1st term
This course will be jointly taught by well-known research economists and experts
from the banking, finance, and real estate sectors, the Hong Kong Monetary Authority,
the Trade Development Council, relevant government departments, and teachers
of the Department of Economics. The course examines the major issues and challenges
facing the Hong Kong economy after the Asian financial crisis. Topics include
the causes and impacts of the financial crisis, the strengths and weaknesses
of the Linked Exchange Rate, recent developments in banking, finance, and real
estate, challenges facing the major industries of Hong Kong (trading, transportation,
telecommunication, and tourism), changes in economic policies, the economic
links between Hong Kong and the Mainland, and the impacts of migrants from the
Mainland on the Hong Kong economy. In tutorials, the application of economic
theory to current economic issues will be emphasised.
Suggest preparation: ECO1011 and 1021
ECO3350 Lecturer: Prof. Sung Yun Wing Course Outline
ECO3410
oney
and Banking
1st term
This course provides a framework for studying the role of money in the economy
and the institutional characteristics of the banking system and financial markets.
Topics include the theory and evidence on demand for money, control of money
supply and goal and tools of monetary policy, interest rate determination and
term structure of interest rates, bank management and operation of the banking
system, financial innovation, bank regulation and deregulation, and the linkage
between money and economic activity. To maintain a balance between theory and
policy, the course will combine theoretical formalism with empirical investigations
of the regularities of the monetary economy.
Suggested preparation: ECO 1011 and 1021.
ECO3410 Lecturer : Prof. Kwan Cheuk Chiu Course Outline
ECO3420
inancial
Economics
2nd term
This course covers the basic principles of security valuation and portfolio
management. Topics include: capital structural and the cost of capital, dividend
policy, pricing of stocks, bonds and derivative assets, risk analysis, efficient
capital market theory, term structure of interest rates, portfolio management
and theory of investment decision making.
Suggested preparation: ECO 1011 and 1021.
ECO3420 Lecturer : Prof. Kwong Kai Sun Sunny
ECO3430
ublic
Finance
1st term
This course focuses on the application of economic theory to the analysis of
the issues pertaining to public expenditures and taxation. The first part of
the course discusses theories on public expenditures, such as theories on public
goods and social cost benefit analysis. The second part of the course explores
the principles and theories and theories of taxation. The features of different
kinds of taxes will be analyzed.
Suggested preparation: ECO 1011 and 1021.
ECO3430 Lecturer : Prof. Tsui Kai Yuen Course Outline
ECO3460
evelopment
Economics
1st term
This course is a survey of the problems pertaining to economic develpment. Topics
included are: The concept of development, income distribution, theories of economic
development, population and employment problems, agriculture, industryand international
trade. Suggested preparation:ECO 1011 and 1021.
ECO3460 Lecturer : Prof. Li Hongbin Course Outline
ECO3470
abour
Economics
2nd term
This course emphasizes both theoretical and empirical studies. Topics covered
include: static and dynamic models of the demand for labour, allocation of time,
the labour supply of men and women, labour unions, human capital theory, theories
of personal income distribution, information and search theory, signaling and
self-selection, implicit contracts and the principal-agent problem. Students
should have knowledge of basic microeconomics and elementary calculus. Students
are advised to take ECO 1011 and 1021
before taking this course.
ECO3470 Lecturer : Prof. Zhang Junsen
ECO3480
ndustrial
Organization
1st term
The main topics of this course include: principal-agent theory, internal organization
of the firm, vertical and horizontal integration, contracts, regulation of monopoly
and public utilities, strategic interactions among firms, multinational corporations,
research and development activities, case studies.
Suggested preparation: ECO 1011 and 1021.
ECO3480 Lecturer : Dr. Yung Chor Wing, Linda Course Outline
ECO3510
amily
Economics
This course will provide an introduction to the economic analysis of such family
behaviour as human capital investment, fertility, mortality, marriage, and divorce.
It will also analyze the courses and consequences of other family issues: bequests,
old-age support and social security, sex preferences (boys favoured in many
developing countries), and so on. It show how to use modern microeconomics to
analyze these family issues. Real-world examples are examined and possible policy
implications are discussed Students should have knowledge of basic microeconomics
and elementary calculus.
ECO3520
conomics
of Capital Markets
1st term
This course provides an analytical approack to the understanding of the structure
and operation of capital markets--markets for stocks, bonds, currencies, futures,
swap, derivatives, unit trusts, venture capital, and hedge funds. Major topics
include: valuation of assets in general, theory of efficient portfolio, the
tradeoff between risk and return, hedging and artitraging, effcient markets,
CAPM theory of assets pricing, pricing of futures, Black-Scholes formula for
options pricing, and the securitization of housing mortgages etc. Suggested
preparation:ECO 1011 and 1021
ECO3520 Lecturer : Dr. Ng Ai Kheng Course Outline
ECO3530
nternational
Economics Relations
This course offers an introductory view of how the world economy has developed
and what the future might hold, with a focus on the institutional factors and
historical events. Both the world trading and monetary systems are included.
Applications of the basic economic theory to problems arisen from the world
economy are provided. Theory of international economics and the real-world cases
are discussed and reviewed. Topics include protectionism, trade liberalization,
regional trade blocs, factor mobility, exchange rate systems, managing currencies
and policy cooperation, and debt and currency crisis etc. Student are advised
to take ECO 1011 and 1021
before taking this course.
ECO3540
oporate
Finance
1st term
This course is an introduction to basic concepts in Corporate Finance and their
application to: 1.valuation of assests and cashflow discounting; 2.evaluation
of investment proposal; 3. valuation of risky assests including stocks and bonds;
4.corporate finance policy decisions including dividend and capital structure
policy. Students are advised to take ECO 1011
and 1021 before taking this course.
ECO3540 Lecturer : Prof. Chou Szu-wen, Eric Course Outline
ECO3550
conomics
of Derivatives
2nd term
This course is designed as an introduction to the markets of derivatives. It
will cover most of the widely used derivative securities in practice, such as
futures contracts, interest-rate and currency swaps, and various options. During
the course we shall discuss, among others, the uses of derivatives in risk management,
valuation of derivatives, the risk-neutral valuation principle, the Black-Scholes
formula, binomial trees, and portfolio insurance. Though not a prerequisite,
a minimum background in corporate finance and/or financial markets will be desirable.
Students are advised to take ECO 1011 and 1021
before taking this course.
ECO3550 Lecturer : Prof. Du Julan
ECO3560
conomics
of Real Estate
1st term
This course will introduce basic concepts in the economics of real estate. Major
topics include: the operation of property markets, rents and prices of the urban
land market, location and residential density, economic growth and metropolitan
real estate markets, cyclical behaviour of metropolitan housing markets, vacancy
and mobility, financing of housing markets. Students are advised to take ECO
1011 and 1021 before taking this course.
ECO3560 Lecturer : Prof. Leung Ka Yui Charles Course Outline
ECO3570
nformation
Technology and Economy
2nd term
This course introduces how economic factors affect the development of new computing
and communications sector. The topics include pricing, standarization, intellectual
property rights, network externalities, complements, government sellers' and
buyers strategies of survival in the information age and government policies
promoting information technology industry. Students have the chance to participate
in web-based discussion, multimedia presentation and the production of web-based
reports. Student are advised to take ECO 1011
and 1021 before taking this course.
ECO3570 Lecturer : Dr. Yung Chor Wing, Linda
ECO3580
merging
Financial Markets of China
2nd term
The course is an overview of China's evolving financial system in the reform
era. To unravel the inner logic of the Chinese financial system, the course
examines the various components of the financial sector, e.g., the banking sector,
the foreign exchange market, the money market and the equity market, etc. In
addition, the challenges confronting China's financial sector in the new millennium
are explored. Among the special topics discussed are China's accession to the
WTO, the liberalization of interest rates, capital account liberalization, the
choice of exchange rate arrangement for renminbi as well as measures to resolve
the risks of the financial sector.
ECO3580 Lecturer: Prof. Tsui Kai Yuen
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