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Economics


 
Aims & Objectives | Department Members | Curriculum | Activities | Useful Links |

Aims & Objectives

Aims
To enable students to:

 
  1. develop an interest in exploring human behaviour and social issues through an economic perspective;
  2. understand the world in which they live through mastery of basic economic knowledge;
  3. enhance their general intellectual capacity for life-long learning, through developing their capacities in economic analysis, so that they possess the skills necessary for reasoning about issues and making rational choices, and
  4. participate as informed and responsible citizens in the decision-making processes of a modern democratic society.

Objectives

  1. Students will develop knowledge and understanding about economic terminology, concepts, theories and basic economic problems faced by every individual and society, and alternative approaches to tackling these problems.
  2. Students will develop skills to interpret economic information presented in verbal, numerical or graphical form. They can apply their economic knowledge to a variety of problems and issues in a range of economic contexts.
  3. Students will develop values and attitudes so that they may participate as informed persons in the discussion of economic issues and decision-making, and to become active and responsible citizens and contribute to the well-being of the local community, the nation and the world.
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Department Members

Panel Head:

  • Ms. Sham K.Y.
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Curriculum

ECONOMICS  Curriculum
S4


Topic

A. Basic Economic Concepts

  • Economics as a social science
  • Scarcity, choice and opportunity cost
  • The three basic problems
  • Competition and discrimination
  • Production and consumption

B. Firms and Production

  • Ownership of firms
  • Types/stages of production
  • Types of goods and services produced
  • Division of labour
  • Factors of production
  • Production and costs in the short run and long run
  • The objectives of firms

C.  Market and Price

  • Law of demand
  • Law of supply
  • Market equilibrium
  • Interaction between demand, supply and price
  • Price elasticity of demand and supply
  • Market intervention

D. Competition and Market Structure

  • Perfect competition and imperfect competition (monopolistic competition, oligopoly and monopoly)

E. Efficiency, Equity and the Role of Government

  • Efficiency
  • Equity
  • Policy concerns

S5

F. Measurement of Economic Performance

  • National income
  • General price level as measured by Consumer Price Index and implicit price deflator
  • Unemployment and unemployment rates
  • Recent trends of national income, general price level and unemployment in Hong Kong

G. National Income Determination and Price Level

  • Aggregate demand (AD)
  • Aggregate supply (AS)
  • The determination of level of output and price

H. Money and Banking

  • Money
  • Banks: functions and services
  • Money creation and contraction
  • Money demand, money supply and interest rate determination
  • Hong Kong as a financial centre

I. Macroeconomic Problems and Policies

  • Inflation and deflation
  • Government budget
  • Business cycles: a description of the short run fluctuations in real GDP around the long run trend
  • Unemployment
  • Fiscal policy and Monetary policy

J. International Trade and Finance

  • Free trade and trade barriers
  • Brief introduction to the balance of payments account
  • Exchange rate

S6 Elective

Part 1: Monopoly Pricing, Anti-competitive Behaviours and Competition Policy

  • Simple monopoly pricing
  • Price discrimination
  • Major forms of anti-competitive practices
  • The impact of anti-competitive practices
  • Justification and concerns for competition policy
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Activities

To be an entrepreneur


 

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Useful Links

1. Census and Statistics Department, HKSAR
http://www.censtatd.gov.hk/hkstat

2. Hong Kong Monetary Authority
http://www.info.gov.hk/hkma

3. Highlights of the Budget
http://www.budget.gov.hk

4. Nobel Prize Winners in Economics
http://www.nobelprizes.com/nobel/economics

5. Journal of Economic Education
http://www.tandfonline.com/loi/vece20#.V429kmUZ2FV

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