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Master of Science (MSc) in



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.

Endows Students

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.

Cultivates Skills

in quantitative analyses involving the application of econometric tools to analysing data sets, deriving estimates, testing hypotheses and making forecasts.

Equips Graduates

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.


Financial Center Manager
Bank of America (USA)
M.Sc. 2019 Graduate


Duration of Study

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

Coursework Requirement

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.

Required Courses*

Total: 15 units

ECON 5011
Microeconomic Theory
ECON 5011 - Microeconomic Theory

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.

ECON 5021
Macroeconomic Theory
ECON 5021 - Macroeconomic Theory

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.

ECON 5101
Review of Quantitative Methods
ECON 5101 - Review of Quantitative Methods

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.

ECON 5121
Econometric Theory and Applications
ECON 5121 - Econometric Theory and Applications

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.

ECON 5811
Global Economics and Finance Forum
ECON 5811 - Global Economics and Finance Forum

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.

Elective Courses*

Total: 12 units

ECON 5150
Applied Econometrics
ECON 5150 - Applied Econometrics

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.

ECON 5160
Game Theory
ECON 5160 - Game Theory

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.

ECON 5170
Computational Methods in Economics
ECON 5170 - Computational Methods 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.

ECON 5181
Machine Learning Methods
ECON 5181 - Machine Learning Methods

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.

ECON 5311
Analysis of China’s Economy
ECON 5311 - Analysis of China’s Economy

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.

ECON 5410
Monetary Economics
ECON 5410 - Monetary Economics

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.

ECON 5421
Financial Economics
ECON 5421 - Financial Economics

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.

ECON 5440
International Trade
ECON 5440 - International Trade

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.

ECON 5451
International Finance
ECON 5451 - International Finance

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.

ECON 5461
Development Economics
ECON 5461 - Development Economics

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.

ECON 5471
Labour Economics
ECON 5471 - Labour Economics

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.

ECON 5481
Industrial Organization
ECON 5481 - Industrial Organization

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.

ECON 5491
Corporate Finance
ECON 5491 - Corporate Finance

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.

ECON 5542
China Fiscal & Monetary Policy
ECON 5542 - China Fiscal & Monetary Policy

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.

ECON 5511
Behavioral Economics and Finance
ECON 5511 - Behavioral Economics and Finance

This course provides an introduction to the theory and empirics of behavioral economics and behavioral finance. In this course, classical assumptions on economic agents such as rationality and time consistency are relaxed, allowing students to analyze investors and financial markets from a non-traditional perspective. The course is therefore a good complement to the mainstream economic and financial theories built upon individual rationality.

ECON 5822/5831
Special Topics in Economics
ECON 5822/5831 - Special Topics in Economics

This is a course on special topics in Economics. The topic may change from one year to another. Some recent topics are international trade, and monetary and financial economics.ECON5822 Special Topic in Economics I : Economic Policies in Aging Societies (Offered in 2023/24)ECON5831 Special Topics in Economics II : China Financial Markets (Offered in 2023/24)

*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.

Graduation Requirements

  • Students must complete the prescribed coursework and achieve a cumulative overall GPA of at least 2.0 in order to graduate.
  • Students have to attend seminars organized by the Department of Economics.


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.


Vice President
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.


Fixed Income Analyst
Debt Capital Markets
China Industrial Securities International
Financial Group Ltd.
M.Sc. 2019 Graduate


Click the below video to find out more our diversified services.




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:

Hong Kong
  • AME Mineral Economics (Asia)
  • Bank of China
  • Bank of Communication
  • CBRE (HK)
  • China CITIC Bank International
  • China Construction Bank (Asia)
  • China Development Bank
  • China Galaxy Securities
  • China Investment Securities
  • China Merchants Securities
  • China Securities International
  • Chiyu Bank
  • Daiwa Capital Markets
  • Deloitte
  • Ernst & Young
  • FWD Limited
  • Guotai Junan International Holdings Limited
  • Haitong International Securities Group Limited
  • Hang Seng Bank
  • ICBC International Holdings Limited
  • Industrial Bank
  • Johnson Controls Asia Holdings
  • J.P. Morgan Chase
  • PwC
  • Resonance Asset Management
  • Standard Chartered Bank
  • The Hongkong and Shanghai Bank (HSBC)
  • UBS (HK)
  • Bank of Jiangsu
  • Changjiang Securities
  • China Construction Bank
  • China Fortune Land Development
  • China Investment Securities
  • China Merchants Bank
  • China Securities Depository and Clearing
  • Dacheng Fund Management
  • Everbright Securities
  • GF Securities
  • Guosen Securities
  • Ping An Securities
  • Sealand Securities
  • Shenzhen GEM Capital Management
  • Tencent
  • Agricultural Development Bank of China
  • China International Capital Corporation
  • China Minsheng Bank
  • China Mobile
  • China Reform Holdings Corporation
  • China Securities (International)
  • Deloitte
  • Ernst & Young
  • Minsheng Securities
  • PwC
  • Accenture (China)
  • China Foreign Exchange Trade System
  • DBS Bank (China)
  • Deloitte
  • Fubon Bank (China)
  • KPMG
  • Mizuho Bank (China)
  • Shanghai Clearing House
  • Shanghai Industrial Financial Leasing
  • The Hongkong and Shanghai Bank (HSBC)
  • The People’s Bank of China, Shanghai Headquarters
  • Bank of Ningbo
  • Bank of China
  • China Development Bank


Scholarships are awarded to applicants with outstanding qualifications upon admission and to students who have exhibited distinguished academic performance upon graduation.

In the last 9 years, more than $4.3 million in scholarships have been awarded. Outstanding students have the chance to receive one or more scholarships amounting to half of the total tuition fees.

Scholarships awarded in 2022/23
Scholarships awarded in 2022/23

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.


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.


Best Performance Award Recipient
M.Sc. 2018 Graduate



  • The Chinese University of Hong Kong
  • City University of Hong Kong
  • Hong Kong Baptist University
  • The Hong Kong Polytechnic University
  • The Hong Kong University of Science and Technology
  • Lingnan University
  • The University of Hong Kong
  • Beihang University
  • Beijing Normal University
  • Central University of Finance and Economics
  • The Chinese University of Hong Kong (Shenzhen)
  • Chongqing University
  • Dalian University of Technology
  • East China Normal University
  • Fudan University
  • Harbin Institute of Technology
  • Huazhong University of Science & Technology
  • Hunan University
  • Jilin University
  • Jinan University
  • Lanzhou University
  • Nanjing Agricultural University
  • Nanjing University
  • Nankai University
  • Northwest University
  • Peking University
  • Renmin University of China
  • Shandong University
  • Shanghai Jiao Tong University
  • Shanghai University of Finance and Economics
  • Sichuan University
  • Soochow University
  • South China University of Technology
  • Southeast University
  • Southwestern University of Finance and Economics
  • Sun Yat-sen University
  • Tianjin University
  • Tongji University
  • Tsinghua University
  • University of Chinese Academy of Sciences
  • University of International Business and Economics
  • Wuhan University
  • Xi’an Jiaotong University
  • Xiamen University
  • Zhejiang University
  • Zhongnan University of Economics and Law
  • Macau University of Science and Technology
  • University of Macau
  • Singapore Management University
  • Meiji University
  • Ritsumeikan Asia Pacific Univer
  • Chulalongkorn University
  • Indiana University Bloomington
  • Kansas State University
  • Miami University
  • Michigan State University
  • New York University
  • The Ohio State University
  • Pennsylvania State University
  • Pepperdine University
  • Syracuse University
  • The University of Arizona
  • University of California, Los Angeles
  • University of California, San Diego
  • University of Illinois at Urbana – Champaign
  • University of Maryland, Baltimore County
  • University of Michigan
  • University of Minnesota
  • University of Southern California
  • University of Washington
  • University of Wisconsin La Cross
  • Simon Fraser University
  • University of Alberta
  • The University of British Columbia
  • University of Toronto
  • University of Victoria
  • University of Waterloo
  • The University of Western Ontario
  • York University
  • Lancaster University
  • University of Birmingham
  • University of Durham
  • University of East Anglia
  • University of Exeter
  • The University of Manchester
  • University of Oxford
  • The University of Reading
  • The University of Warwick
  • Heidelberg University
  • Symbiosis International University
  • Monash University
  • The University of Melbourne
  • The University of New South Wales
  • The University of Queensland
  • The University of Auckland
  • Financial University under the Government of the Russian Federation
  • Kyung Hee University


Application Procedure

Click the below video to learn more about the application procedure.

Application Timeline

Applicants should submit applications through the online admission system from 1 September 2023. All required documents must be received before the application deadlines, and applications will be processed on a rolling basis until all places are filled.

Application Deadlines:

Round 1
16th October 2023
Round 2
18th December 2023
Round 3
26th February 2024
Tuition Fee

The tuition fee for the entire programme (total: 27 units) for students admitted in 2024/2025 is HK$298,000 (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.

Qualification for Admissions

Applicants shall:

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;

  • obtain a degree from a university in Hong Kong or taken a degree programme of which the medium of instruction was English (If the degree is not awarded by the universities in Hong Kong, applicants please provide an official document to show the medium of instruction. The CUHK Graduate School may also request applicants to provide additional supporting documents to prove their English proficiency); or
  • possess a pass grade in English in one of the following examinations:
    • Hong Kong Advanced Level Exam (AS Level)
    • Hong Kong Higher Level Exam
    • CUHK Matriculation Exam
    • General Certificate of Education Examination (GCE) Advanced Level (A-Level)/ Advanced Subsidiary Level (AS-Level); or
  • achieve Level 4 or above in the English Language subject of the Hong Kong Diploma of Secondary Education (HKDSE) Examination; or
  • obtain a recognized professional qualification, provided that the examination was conducted in English; or
  • submit one of the following original score reports/ certificates for assessment:
    • TOEFL (not lower than 550 paper-based and 79 internet-based) [Institution code: 0812; departmental code: 84]
    • IELTS (Academic) (not lower than Band 6.5)
    • GMAT (Verbal, not lower than 21) [GMAT code: R9H-T1-98]

c) provide favourable recommendations from academic referees.


Additional Information


  • with a good background in Mathematics or Statistics are preferred;
  • will be assessed on the basis of past academic record, work experience, references and language abilities;
  • may be interviewed in person, by telephone or video conferencing.
Supporting Documents Required

Applicants should submit the following documents with a recognizable file name via the application system before the application deadline.

  • If applicants apply for both the MSc in Economics Programme and the Dual Master’s Degree Programme offered by our department, please submit the reply slip (if applicable)
  • Official Transcripts (with a complete record of courses attended and examination results) and grading scheme of all tertiary level studies*
  • A copy of Degree Certificates (if applicable)
  • Original score report showing the applicant has fulfilled the Graduate School’s English Language Proficiency Requirement (if applicable)^
  • Confidential Recommendations from two referees#
  • A copy of Identity Card or Passport
  • Resume

* i. The University reserves the right to require applicants to submit original transcripts.

* ii.Other qualifications:

  • Certificates and transcripts, which are not in English or Chinese, should be accompanied by an official certified translation in English.
  • Applicants who obtained degrees from universities in Mainland China are required to provide a valid Online Verification Report of Higher Education Qualification Certificate (教育部學歷證書電子註冊備案表) and a valid Online Verification Report of Higher Education Degree Certificate (中國高等教育學位線上驗證報告) issued by the CHESICC (學信網) together with their degree certificate and graduation certificate..
  • The University may require applicants to provide verification reports of the qualification obtained. Applicants will be notified by the Graduate Division concerned/Graduate School separately.
  • If you are currently in the final year of your study, you are required to submit the final official transcript before starting your postgraduate study at CUHK.

^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.