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The programme is suitable for those who wish to pursue further studies in economics and related disciplines or seek professional positions in private and public sectors that require solid knowledge in economics and analytical skills.
The objective of the M.Sc. in Economics programme is to provide rigorous training in economics and enable students to conduct analyses of economic issues. The programme is suitable for those who wish to pursue further studies in economics and related disciplines or seek professional positions in private and public sectors that require solid knowledge in economics and analytical skills.
with advanced knowledge in economic science including microeconomics, macroeconomics, econometrics and many applied fields so as to lay a solid foundation for pursuing Ph.D. degree studies and doing research work.
in quantitative analyses involving the application of econometric tools to analysing data sets, deriving estimates, testing hypotheses and making forecasts.
with economics knowledge and econometrics skills to make economic analysis, especially analysing the Chinese Economy and other Asian economies, so as to excel in professional positions of diverse organizations, such as financial institutions, government departments and consultancies.
A reputable university with a beautiful campus in the mountains, located 30 minutes from a global financial capital. I chose CUHK to develop international business skills, diversify my network and obtain a unique experience only possible from studying abroad. The M.Sc. Economics Programme provided the greatest opportunity to further my career. CUHK was a positive and defining decision in my life.
MR. HOCKING SEAN ALEXANDER
Financial Center Manager
Bank of America (USA)
M.Sc. 2019 Graduate
1 Year Full-time Programme
Teaching starts in August and end in May normally. Most classes are scheduled on weekdays during daytime in CUHK campus
Students are required to complete a minimum of 27 units for graduation, which consists of 15 units from the required courses and 12 units from the elective courses.
This course provides an exposition of advanced microeconomic theory. Topics include consumer theory, general equilibrium, choice under uncertainty, game theory, and markets with asymmetric information, etc. Emphasis is placed on how these theories are constructed, and the grasp of their analytical tools.
This course introduces the approaches and methods used in modern macroeconomics. The main goal of this course is to equip students with the basic economic intuitions and modeling techniques needed for further exploration in macroeconomic research. The course is divided into two parts. In Part 1 (Economic Growth), students will learn the modern analysis of economic growth. Basic growth theory, growth and development accounting will first be covered. Then new directions on the theories of growth and development will be studied, including an introduction of different models of endogenous growth and technological change. In Part 2 (Foundations of Modern Macroeconomics), important background and computational knowledge of macroeconomics beyond the Classical and Keynesian schools will be covered, including an introduction to Dynamic Programming, Real Business Cycle Theory and introductory macroeconometrics.
This course reviews mathematical methods frequently used in economic analysis. The following topics will be covered: elementary real analysis, matrix algebra and static analysis, multivaraite differential calculus and comparative static analysis, optimizations with constraints, dynamic analysis of difference and differential equations, and dynamic optimization. We assume that students are familiar with basic calculus and elementary linear algebra.
Econometrics combines economics, mathematics, and statistics; with its applications involving real data analysis and computer programming. This course is an introductory course in econometrics at the graduate level. It covers basic econometric theory including linear model, large sample theory, estimation methods, hypotheses testing, panel data models, generalized method of moments, discrete choice and censored data, etc., with applications to many real world economic problems using data.
This course is designed to enhance students' exposure to and understanding of a wide variety of real world economic and financial issues in Hong Kong, Mainland China, and the world to strengthen their ability to analyze policy issues. Distinguished economists, business leaders, and/or government officials will be invited to deliver lectures on a wide range of leading economic and financial issues in the global economy. Through these lectures, students are trained to strengthen their capability of conducting innovative analyses of these issues with significant policy implications. Students are required to write research papers for the course. The papers demonstrate students' own analyses and understanding of the course content.
This is a graduate level course in applied econometrics. Both microeconometric theory and empirical strategies for applied econometric research will be discussed. Modern causal inference including machine learning tools and big data analysis will be introduced. This course will discuss instrumental variable methods, treatment effect, matching, panel data models, differences-in-differences, regression discontinuity designs, binary response model, censored data, and modern causal inference topics including machine learning in causal inference, and so on. Students are advised to take ECON5120/ ECON5121/ ECON5122 before taking this course.
This is an advanced course on game theory. We will cover topics in strategic games, extensive games of complete and incomplete information, epistemic foundations of game theory, repeated games, bargaining theory, coalitional games and matching theory. We will also discuss various applications of game theory in Economics.
In modern economic research, computers enhance our capacity of solving complex problems. Computation is particularly important in fields involving massive data. The objective of this course is to introduce graduate students to computational approaches to solve economic models, with an emphasis on dynamic programming and simulation-based econometric methods. We will formulate economic problems in computationally tractable form and use techniques of numerical analysis to solve them. Substantive applications will cover a wide range of problems including labor, industrial organization, macroeconomics, and international trade.
Large-scale data set has become increasingly available in many fields of economics. This presents challenges to statistical inference and even merely “understanding” the data. Meanwhile, it offers abundant opportunities for new inquiries and answers. In this course, we introduce the core statistical methods to work with big data (structured and unstructured) and show how these techniques can be combined with econometric tools in economics research. While we cover major machine learning tools, including supervised learning methods, unsupervised learning and dimensionality reduction, we will focus on their concrete applications in current empirical research. Examples will be drawn from various lines of research, including text as data, relevant prediction problems in economics, and causal inference.
Using the Chinese economy as a context, the course is designed to guide and train students to think courageously, creatively, and critically. Students are required to find "puzzles" in the contemporary Chinese economy, to develop economic issues of general relevance from these "puzzles", to frame these issues into theoretical or empirical questions, and finally to draft papers based on these questions. The course relies heavily on class discussion. Students are required to present at each stage of their thinking process. Students are advised to take ECON5010/5011/5012, 5020/5021/5022 and 5120/5121/5122 before taking this course.
This graduate-level course studies advanced monetary economics. Its focus will be on models and theories of money and financial intermediation, but relevant empirical literature will be incorporated as well. The topics include ISLM model in open economies, OLG monetary model, flexible price monetary model, such as MIU and CIA model and new Keynesian sticky price model. China's monetary policies will also be discussed in the course.
This course provides the economic foundation of modern asset pricing theory. It serves as an introduction to the functioning of the financial market as an efficient venue for financing investment activities. Various issues on risk measurement, risk assessment, managing risk, investors' psychological attitudes towards risk, and its implications on consumption and portfolio decision making in an uncertain world will be introduced and discussed. In-depth treatment will be given to the classical Markowitz's mean-variance analysis, CAPM, multi-factor asset pricing theory and no-arbitrage asset pricing theory as cornerstones of modern finance.
This course offers theoretical, empirical and current topics in international trade. It covers studies of positive issues, such as: Why do countries trade? What goods do countries trade? How does openness to trade shape countries' industrial structure and global production sharing? The course also concerns the normative issues, such as: Is trade beneficial to everyone, or are there winners and losers? What is the impact of trade on economic growth, wage inequality and poverty? All these issues will be discussed both from theories and empirics, as well as at country, industry and firm level. In particular, we will also discuss the ongoing US-China trade war.
This is a graduate-level international finance course. It aims to provide students with a solid understanding of the modern theories and empirics of international finance. Topics covered in this course include: exchange rate determination theories, exchange rate regimes, capital flows, currency crises, international monetary policy spillovers and coordination, among others.
The goal of this course is to understand the economic problems of developing countries by using economic theories and their applications. The course will cover both macroeconomic and microeconomic approaches to development economics. We will first overview the theories of growth and discuss their potential in explaining income differences across countries, and then study the different facets of human development: market, institution, and culture.
The course provides a theoretical and empirical foundation for the analysis of labor market. Topics to be covered include: labor supply and demand, minimum wages, migration, human capital and education production, labor market incentives, efficiency wage, and skill investment. Students should preferably have finished graduate level Microeconomic theory and Econometric Theory and Applications before taking this course.
The course provides an overview of selected topics in industrial organization. Both theories and empirical approaches will be used. Court cases and legal materials will be used to illustrate the applications of various concepts in industrial organization.
This course addresses the economic theory and empirics of corporate finance and governance. The goal is to help students understand major research issues in the field and develop their skills to apply theory to corporate finance practices. The course focuses on important topics such as capital structure, ownership structure, capital budgeting and corporate governance institutions. The course extensively uses the tools of game theory, information economics and microeconometrics. Students are recommended to take ECON5010/5011/5012 and ECON5120/5121/5122 before taking this course.
This graduate course includes two parts. The first part provides elementary theories of monetary policy and fiscal policy, providing students a general framework for policy analysis. The second part mainly discusses the development of Chinese monetary policy and fiscal policy in the past three decades, the potential policy reform and its implications to the Chinese economy. In addition, how monetary policy and fiscal policy respond to financial crises or public health crises will be widely analyzed and discussed in this course.
This is a course on special topics in Economics. The topic may change from one year to another. Class Topic in the academic year 2022/23: Economics of Social Networks
*All courses carry 3 units.
The availability of elective courses varies from year to year. Subject to the approval of the Division Head, up to 3 units of these 12 elective units can be taken from the Economics undergraduate courses or other related courses at the University.
We have set up a Career Unit for our programme to support students at every stage of the career development process. To prepare students for a competitive global economy, the Career Unit organizes various learning and development workshops, company visits and one-on-one counselling services, with the aim of enhancing students’ career readiness. Examples include workshops on writing impressive resumes, job interview skills, job market trend, Bloomberg training, professional business and dining etiquette and personal grooming. We offer up-to-date information and support on internships and graduate jobs. In the process, students learn how to clearly identify and articulate their career goals and develop a successful, targeted job search strategy.
In addition to academic guidance, CUHK M.Sc. in Economics provides comprehensive career services including career consultation, regular updates on the job vacancy, tailoring our CVs and help with interview techniques. The customized arrangement and professional support benefit us at all stages of job-hunting. Overall, I really appreciate the learning experience in M.Sc. in Economics, which motivates me to constantly improve myself and to create value for others.
MS. HE YULEI, RACHEL
Haitong International Securities Group Ltd.
M.Sc. 2018 Graduate
Studying in the M.Sc. programme in Economics is the most rewarding memory in my life. The programme offers me an unparalleled opportunity to learn from prominent scholars and make lifelong friends. The curriculum enriches my technical understanding in different fields with in-depth knowledge. For example, applying critical thinking skills to analyze workplace issues help prepare myself to fulfill my career goal. It is a worthwhile journey and I cannot wait to make a difference in my career and the society.
MS. WANG YIFEI, EUPHEMIA
Fixed Income Analyst
Debt Capital Markets
China Industrial Securities International
Financial Group Ltd.
M.Sc. 2019 Graduate
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The career prospects of our graduates are excellent. With their specialized understanding of economic science and quantitative skills, they are amongst the most desired employees in the job market, particularly in the banking and finance sector. Our recent graduates have accepted positions as bank management trainees, investment banking executives, finance analysts and securities traders. Others have been offered positions in accounting, real estate and marketing sectors. Some of the highlights are as follows:
Scholarships are awarded to applicants with outstanding qualifications upon admission and to students who have exhibited distinguished academic performance upon graduation.
In the last 7 years, more than $3.7 million in scholarships have been awarded to 200 recipients. Outstanding students have the chance to receive one or more scholarships amounting to half of the total tuition fees.
The M.Sc. in Economics in CUHK is definitely one of the most rewarding school years I have ever had. A well-designed curriculum in the programme including both theoretical research and practical statistical programming tutorials have enriched my understanding in different uses and fields of economics.
Besides, the programme is incredibly generous in offering me more than HK$100,000 scholarship which offers me the opportunity to continue to strive for my dreams and reminds me of my educational endeavours. Last but not least, I would like to express my sincere gratitude to the inspirational teaching staff I have met here. I look forward to giving back what I have learnt from them to the society in the future.
MS. KO YEE ON, KOYI
Highest GPA Award Recipient
M.Sc. 2018 Graduate
I thoroughly enjoyed the learning experience provided by the M.Sc. Economics Programme. In particular, I have found the statistical elements extremely useful and versatile; the review of research papers showed different aspects of further academic research. I am very grateful that the range of courses and insightful seminars have equipped me with the skills and confidence to switch my career to economics and finance.
DR. CHUNG YING KIT, JACK
Best Performance Award Recipient
M.Sc. 2018 Graduate
Various activities which support job hunting and facilitate student learning outside the classroom are recognised throughout the year.
Applicants should submit applications through the online admission system from 1 September 2022. All required documents must be received before the application deadlines, and applications will be processed on a rolling basis until all places are filled.
The tuition fee for the entire programme (total: 27 units) for students admitted in 2023/2024 is HK$270,000 (subject to the university’s approval). Students are required to pay the tuition fee in two equal installments.
Tuition fee and other fees (e.g. application fee) are NOT refundable or transferable once paid.
a) have graduated from a recognized university and obtained a Bachelor’s degree, normally with honours not lower than Second Class or with an average grade of not lower than “B”;
b) fulfill the English Language Proficiency Requirement as stipulated by the Graduate School before being considered for admissions. To satisfy this requirement, applicants should;
c) provide favourable recommendations from academic referees.
Applicants should submit the following supporting documents together with a photocopy of the completed application form by post before the application deadline.
Please quote the “Application No.” generated by the online application system on your documents sending to our division.
Address: Room 928, 9/F, Department of Economics, Esther Lee Building, The Chinese University of Hong Kong, Shatin (Attn.: M.Sc. in Economics)
* i. CUHK qualifications (Bachelor’s or higher degrees):
* ii.Other qualifications:
^TOEFL and IELTS are considered valid for two years from the test date. GMAT is considered valid for five years from the test date. Applicants must request the test organization to send their official score reports directly to the Graduate School. Student copy of score report will NOT be accepted.
# Hard copy of Confidential Recommendations must reach our office directly from the referees, or in sealed envelopes and send by the applicant with other supporting documents to our office. The referees can also choose to submit the Confidential Recommendations via internet.
Please visit the Graduate School homepage for further information on general qualifications for admission, application periods, application procedures et cetera.