Module Intended Learning Outcomes:
On completion of the module, learners are expected to be able to:
1. analyse macro-economic and micro-economic problems using appropriate theoretical models and quantitative methods;
2. evaluate the implications for different types of market structures for business organisations;
3. apply the concepts of national income, money and banking and international trade to measure the economic activities in Hong Kong; and
4. explain and interpret macro-economic data for realistic issues and phenomena of an economy.
Learning Contents:
1. Principles of economics
2. Economic theory
3. Interdependence and the gains from trade
4. Basic elements of supply and demand
5. Elasticity and Its application
6. Consumers, producers, and the efficiency of Markets
7. The Role of government and the government policies
8. Externalities
9. Public goods and common resources
10. The cost of production
11. Profit maximization
12. Demand and supply for different market structure
13. Measuring a nation's income
14. Production and growth
15. Savings, investment, and the financial System
16. Unemployment and Its Natural Rate
17. The monetary system
18. Money growth and inflation
19. The Influence of monetary and fiscal Policy on aggregate demand
20. Aggregate demand and aggregate supply
Medium of Instruction
English supplemented with Cantonese