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REGULATIONS for the DEGREE of MASTER of ECONOMICS (Mecon)

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REGULATIONS for the DEGREE of MASTER of ECONOMICS (Mecon) REGULATIONS FOR THE DEGREE OF MASTER OF ECONOMICS (MEcon) These Regulations apply to candidates admitted to the Master of Economics curriculum in the academic year 2018-19 and thereafter. (See also General Regulations and Regulations for Taught Postgraduate Curricula) Any publication based on work approved for a higher degree should contain a reference to the effect that the work was submitted to The University of Hong Kong for the award of the degree. The degree of Master of Economics is a postgraduate degree awarded for the satisfactory completion of a prescribed course of study in economics with emphasis on the analysis of real world economic problems. Admission requirements ME 1. To be eligible for admission to the courses leading to the degree of Master of Economics, candidates shall (a) comply with the General Regulations; (b) comply with the Regulations for Taught Postgraduate Curricula; (c) hold (i) a Bachelor's degree with honours of this University; or (ii) another qualification of equivalent standard from this University or from another University or comparable institution accepted for this purpose; and (d) satisfy the examiners in a qualifying examination, if required. Qualifying examination ME 2. (a) A qualifying examination may be set to test the candidates’ formal academic ability or their ability to follow the courses of study prescribed. It shall consist of one or more written papers or their equivalent, and may include a project report. (b) Candidates who are required to satisfy the examiners in a qualifying examination shall not be permitted to register until they have satisfied the examiners in the examination. Award of degree ME 3. To be eligible for the award of the degree of Master of Economics, candidates shall (a) comply with the General Regulations; (b) comply with the Regulations for Taught Postgraduate Curricula; and (c) complete the curriculum and satisfy the examiners in accordance with the regulations set out below. Period of study ME 4. The curriculum shall normally extend over one academic year of full-time study. Candidates shall not be permitted to extend their studies beyond the maximum period of registration of two academic years, unless otherwise permitted or required by the Board of the Faculty. 1 Completion of curriculum ME 5. To complete the curriculum, candidates shall (a) satisfy the requirements prescribed in TPG 6 of the Regulations for Taught Postgraduate Curricula; (b) follow the courses of instruction and complete satisfactorily all prescribed written work and field work; (c) satisfy the examiners in all prescribed courses as specified in the syllabuses and in any prescribed form of examination; (d) if appropriate, complete and present a satisfactory project paper in lieu of one written paper in the examination, or complete and present a satisfactory dissertation in lieu of two papers in the examination, if such options are provided; and (e) have achieved a cumulative GPA of 2.0 or above. Title of dissertation ME 6. Subject to the provisions of Regulation ME 5(d), candidates shall submit the titles and proposals of their dissertation for approval by the Programme Director before January first of the final academic year, and the dissertation shall be presented by a date prescribed in the syllabuses. Candidates shall submit a statement that the dissertation represents their own work undertaken after registration in the course. Assessment ME 7. Candidates shall satisfy the examiners in all the prescribed courses as specified in the syllabuses. Examinations shall normally be held at the end of each course, unless otherwise specified. Only passed courses will earn credits. ME 8. Candidates who have failed a course shall be required to sit for re-examination or to retake the course. If the failure is an elective course, candidates may elect to take another course as a substitute. ME 9. Subject to the provisions of Regulation ME 5(d), candidates who have failed to present a satisfactory project paper or dissertation may be permitted to submit a new or revised project paper or dissertation within a specified period. ME 10. Candidates who are unable, because of illness, to be present at the written examination of any course may apply for permission to present themselves at a supplementary examination of the same course to be held before the beginning of the following academic year. Any such applications shall be made on the form prescribed within two weeks of the first day of the candidates’ absence from the examination. ME 11. Candidates shall not be permitted to repeat a course for which they have received a passing grade for the purpose of upgrading. ME 12. Candidates who have failed a total of more than two examinations/assessments or re- examinations/re-assessments during the entire period of study of the curriculum or who are not permitted to submit a new or revised dissertation shall be recommended for discontinuation under the provisions of General Regulations G12. ME 13. There shall be no appeal against the results of examinations and all other forms of assessment. 2 Grading system ME 14. Courses shall be graded according to the following grading system: Grade Standard Grade Point A+ 4.3 A Excellent 4.0 A- 3.7 B+ 3.3 B Good 3.0 B- 2.7 C+ 2.3 C Satisfactory 2.0 C- 1.7 D+ 1.3 Pass D 1.0 F Fail 0 ______________________________________________________________________________ Assessment results ME 15. On successful completion of the curriculum, candidates who have shown exceptional merit at the completion of the curriculum may be awarded a mark of distinction, and this mark shall be recorded in the candidates’ degree diploma. ______________________________________________________________________________ 3 SYLLABUSES FOR THE DEGREE OF MASTER OF ECONOMICS These syllabuses apply to candidates admitted to the Master of Economics in the academic year 2019- 20 and thereafter. CURRICULUM STRUCTURE Candidates must read a total of ten courses, including the completion of three core courses (on microeconomics, macroeconomics and econometrics) and a capstone course. They can choose to concentrate in one of the streams: Data Analysis Stream, Policy Analysis Stream and Theory Stream. A list of electives will be announced at the beginning of the academic year. Up to two elective courses may be chosen from other taught postgraduate curricula offered by the Faculty of Business and Economics under the advice and approval of the Programme Directors concerned. I. Fundamental Core Courses (Choose all) Data Analysis Stream/ Policy Analysis Stream 1. ECON6021 Microeconomic Analysis/ ECON6011 Microeconomic Theory (for candidates with strong undergraduate training in economics and mathematics) 2. ECON6022 Macroeconomic Analysis/ ECON6012 Macroeconomic Theory (for candidates with strong undergraduate training in economics and mathematics) 3. ECON6001 Applied Econometrics/ ECON6005 Econometric Theory I Theory Stream 1. ECON6011 Microeconomic Theory 2. ECON6012 Macroeconomic Theory 3. ECON6001 Applied Econometrics/ ECON6005 Econometric Theory I II. Stream Core Courses (Choose Three) Data Analysis Stream ECON6037 Economic Forecasting ECON6067 Computation and Analysis of Economic Data ECON6070 Applied Financial Econometrics ECON6074 Causal Inference Policy Analysis Stream ECON6008 International Macroeconomics ECON6032 International Trade and Multinationals ECON6034 Competition, Regulation and Business Strategy ECON6075 Economic Policy I ECON6076 Economic Policy II Theory Stream ECON6010 Monetary Policy: Theory and Practice ECON6036 Game Theory and Applications ECON6056 Econometric Theory II ECON6077 Topics in Economic Research I* ECON6078 Topics in Economic Research II* 4 III. Capstone Course Data Analysis Stream ECON6068 Advanced Topics in Applied Econometrics Policy Analysis Stream ECON6069 Advanced Topics in Economic Policy Theory Stream (Choose One) ECON6077 Topics in Economic Research I ECON6078 Topics in Economic Research II IV. Electives Candidates can choose electives from a list of courses to make the total number of courses taken ten. Core courses can be taken as electives to fulfil the graduation requirements provided that they are not counted as core courses. * It can also be used to satisfy the Capstone requirement under Item III. DESCRIPTION OF COURSES ECON6001 Applied Econometrics (6 credits) This course examines how practical problems can be solved by using econometric methods. The emphasis is on the analysis of real world economic data using advanced statistical software. Topics include: estimation and testing of linear regression models, regression diagnostics, robust estimation, bootstrap, panel data, nonlinear least squares, discrete choice models and forecasting methods. __________________________________________________________________________________ ECON6011 Microeconomic Theory (6 credits) This course covers how consumers and producers make choices and how these choices are equilibrated by the market. In the part on choice theory, utility maximization and profit maximization problems together with corresponding dual problems are considered. Optimal value functions are studied and used to perform comparative static analysis. Restrictions imposed by optimization on consumer and producer behaviour are discussed. Choices under uncertainty are also investigated. The second part mainly covers the equilibrium in perfectly competitive markets and the two fundamental welfare theorems. It will also discuss the consequences of market failures, including public goods, externalities,
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