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; Economic theory; Interdependence and the gains from trade
2. Basic elements of supply and demand; Elasticity and Its application
3. The Role of government and the government policies; Consumers, producers, and the efficiency of Markets; Externalities
4. Public goods and common resources; The cost of production; Profit maximization; AI Price Discrimination
5. Demand and supply for different market structure
6. Demand and supply for different market structure; Game Theory
7. Measuring a nation's income; Export and import between current account and capital account
8. Savings, investment, and the financial System; Unemployment and Its Natural Rate
9. The monetary system; Money growth and inflation; AI in Fintech
10. The Influence of monetary and fiscal; Policy on aggregate demand; Aggregate demand and aggregate supply; AI-Enchanced Fiscal Policy
Medium of Instruction
English supplemented with Cantonese