This course covers topics on both the Macro- and Micro-economics sides at the intermediate level. On the macroeconomics side, the Keynesian IS-LM model in the close and open economy, various exchange rate regimes and their implications to the economy will be discussed. In addition, the AD-AS model will be derived and employed to perform policy analyses. On the microeconomics side, quantitative models in relation to consumer’s choice, budget constraints and utility maximization will be focused. The concepts of profit maximization, cost minimization, firm’s and industry’s supply as well as the market structures of perfect competition, oligopoly and monopoly will also be addressed in the course. After this course, student would have a stronger quantitative background in economics. Besides, students are expected to be able to apply more sophisticated macro- and micro- economic models to conduct empirical economic analyses.

CILO-1: Demonstrate the recognition on the Keynesian approach of economics, the role of government and the functions of economic policies. CILO-2: Illustrate how the market works and explain the linkages between preference, utility, demand and price. CILO-3: Make use of economic models to compose systematic analyses on the contemporary situations of various economies in the world. CILO-4: Manage to criticize the practices of macro- and micro- economic policies conducted by the governments in various economies and the rationales behind.