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									Bachelor of Science (B.Sc.) Program in
   Economics and Finance (ECOF)

      Information Session

            Prof. S.F. Leung
         Economics Department

•Program Information

The BSc in Economics and Finance Program

• Why is it a science degree?
  BSc (Bachelor of Science) versus
  BBA (Bachelor of Business Administration)

• Who runs the program:
  Department of Economics and/or
  Department of Finance?

The BSc in Economics and Finance Program

 The University is comprised of the following Schools and
    –   School of Engineering,
    –   School of Science,
    –   School of Business and Management, and
    –   Division of Humanities and Social Science

 The B.Sc. in Economics and Finance Program
  is run by the Department of Economics under
  the School of Business and Management

 The Department of Economics also offers the
  BBA degree in Economics


SCI       SBM      ENG    H&SS


 BBA             B.Sc.
 (ECON)          (ECOF)
The BSc in Economics and Finance Program

Why is this a Science program?

• the program provides a general education in economics and
  finance with an emphasis on analytical skills and quantitative

• the program equips students with a solid
  training in the scientific basis of economics
  and finance.

• graduates will be able to perform quantitative
  analysis of a wide range of economic and
  financial issues.

The BSc in Economics and Finance Program

Emphases: Analytical and Quantitative Aspects


   (a) Analysis/Problem Solving with a coherent framework
   (b) Systematic theory


   (a) Mathematical
   (b) Statistical

BSc (Bachelor of Science) versus the BBA (Bachelor of
  Business Administration)

The BBA program

• emphasizes more on applications,

• requires more business courses like marketing,
  organization behaviors (BSc students
  can take these business courses as electives),

• requires less quantitative skills than
  the BSc program,

• requires less economics courses and students
  can do a double major in another business discipline.

The BSc in Economics and Finance Program

• The program was launched in Fall 1999.

• It aims to recruit around 40 students per year.

• The small size of the program is conducive to
  close interaction among students.

• There are currently 52 first year, 53 second
   year and 42 third year students.

Students' Profile

Admission Details for the past three years:

2006 admitted
 Streams: Arts/Commerce : 12 ; Science: 28

 Female: 14 Male: 26

 Exam Result (median):
  HKCEE: English (syllabus B): C
           A, A, B, C, C
  HKALE: UE: D ; LG&CU: C;
           AL: B, B

• 2005 admitted
  Streams: Arts/Commerce : 18 ; Science: 25
  Female: 11 Male: 32

  Exam Result (median)
   HKCEE : English (syllabus B): A ; A, B, B, C, C
   HKALE : UE: B ; LG&CU: B ; AL: C, D

• 2004 admitted
  Streams: Arts/Commerce: 21 ; Science: 22
  Female: 16 Male: 27

  Exam Result (median)

   HKCEE : English (syllabus B): D ; B, C, C, C, C
   HKALE : UE: D ; LG&CU: D ; AL: B, B

For more details, visit

Undergraduate Admissions (JUPAS): Admission Grades

      The Curriculum
Required courses:
   ACCT 101   Financial Accounting
   ISMT 111   Business Statistics
   ECON 150    Big Problems in Economics Issues, Ideas, and Principles
   ECON 198    Microeconomic Theory I
   ECON 199    Macroeconomic Theory I
   ECON 200    Microeconomic Theory II
   ECON 201    Macroeconomic Theory II
   ECON 233    Introduction to Econometrics
   ECON 367    Economic Research and Communication
   FINA 111   Financial Management
   FINA 221   Investment Analysis and Portfolio Management
   ECON 117   Mathematics for Economists
or MATH 101   Multivariable Calculus

Required courses (cont’d):

   MATH 006 Calculus and Linear Algebra (for sequence A2, A3a)
  MATH 021 Concise Calculus (for Sequence A1)
required language courses:
  LABU 101 English for Academic Purpose
  LANG 201 Business Communications
   LANG 111 Basic Business Puotonghua
   HLTH 001 Health Life Style

Elective courses
    ECON         Economics Elective
    FINA         Finance Elective
4 x GEE (H&SS) Humanities and Social Science
                 General Education Electives
    GEE (SCIE) Science General Education Elective
    GEE (ENGG) Engineering General Education Elective

MATH sequences:

Sequence B: for students with grade D or above in AL Pure Mathematics or
 Applied Mathematics:
    • take MATH 101 Multivariable Calculus

Sequence A1: for students with grade B or above in HKCEE Additional
 Mathematics, or passing grade in AS Mathematics and Statistics, or E in AL
 Pure Mathematics or Applied Mathematics:
    • take MATH 021 Concise Calculus

Sequence A2: for students with HKCEE Mathematics, or
 grade C or below in HKCEE additional MATH:
    • take MATH 006 Calculus and Linear Algebra

Sequence A3: students with other qualifications:
    • required to take a MATH Placement test.
  those who pass both part A and B:
         • take: MATH 101 Multivariable Calculus;
  those who do not pass Part A or B:
         • take MATH 006 Calculus and Linear Algebra
Economics Electives (2006/07)

   ECON 311 Industrial Organization and Competitive Strategy
   ECON 314 Economics of Hi-Tech Industries
   ECON 324 Economics of Human Behavior
   ECON 325 Law and Economics
   ECON 328 Econometrics for Cross-section and Panel Data
   ECON 329 Econometrics for Financial Data
   ECON 333 Money and Banking
   ECON 335 International Trade and Finance
   ECON 338 Globalization
   ECON 347 Hong Kong’s Economy
   ECON 399E Issues of China's Economy
   ECON 399G Economic analysis of Economics
              and Financial Institutions

    Finance Electives

•    Financial Markets
•    Advanced Financial Management
•    Management of Financial Institutions
•    Derivative Securities
•    International Finance
•    Fixed Income Securities

Minor in Mathematics

• the Mathematics Minor Program requires a minimum of 18
  credits taken from mathematics courses at the 100-level or above.

• out of these 18 credits, at least 8 credits must be at the 200-level
  or above. Of the 8 credits at the 200-level or above, at least 4
  credits must be at the 300-level or above.

• Students must be enrolled in the minor program
  and completed all of its requirements, as well as
  the requirements of their major program.

• obtain an average of at least 3.50 (C-) in
  courses taken within the minor program.

    Faculty Members
•   All faculty members have Ph.D. degrees from the world’s leading
•   Senior faculty members have taught in leading universities in North America
    and China.
•   Strong in research, they have had many research papers published in top
    academic journals. They are also experienced and devoted teachers.
•   Many of our faculty members are active commentators
    in newspapers and on television programs.

•    Some are consultants to the HKSAR government and
    international organizations including the Asian
    Development Bank, the World Bank, and the
    Organization for Economics Cooperation and
    Development (OECD).

Research Activities
The department’s research activities reflect both its role within the
School of Business and Management and its location in Hong Kong’s
entrepot and international financial center in the dynamic Asian-
Pacific region.

The department builds its research strengths in three specific areas
in addition to the common core of Microeconomics,
Macroeconomics, and Econometrics:

• Economic growth and development
• Industrial organization/theory of firms, and
• International economics

    Minor in Biochemistry

- the Biochemistry Minor Program requires a minimum total of 18
    credits taken form the following courses.

     –   BICH 121 Introduction to Biochemistry
     –   BICH 122 Intermediary Metabolism
     –   BICH 201 Molecular and Cellular Biochemistry I
     –   BICH 202 Molecular and Cellular Biochemistry II
     –   one 300 level BISC elective course, and
     –   one BICH/BIOL/BISC elective course.

- students need to have a CGA of 4.5 (C) or above
    to register in the program.
- graduation requirement: an average of 3.5 (C-) in
     courses taken within the minor program.

Minor in Humanities or Social Science

• for undergraduate students who have a CGA of 3.5 (C-) or better.
• the program requires a minimum of 18 credits to be taken from
  the same Division, either the Division of Humanities or the
  Division of Social Science.

       - Literature
       - History and Anthropology
       - Philosophy and Religion
  Social Science
         - Economic and Political Development
         - Social Relations
         - Science, Technology and Society
         - China Studies

 Minor in Physics

• requires a minimum total of 18 credits, except PHYS 180, PHYS 280
   and PHYS 380.
• out of these 18 credits, at most 3 credits can be at the 000-level and
• at least 15 credits, of which, at least 6 credits must be at the 200-level
  or above and
• at least 3 credits must be at the 300-level or above.
• undergraduate student needs to have with a CGA
  of 4.5 (C) or above to enroll in the Physics
   Minor Program.
• have attained an average of at least 3.5 (C-)
  in courses taken within the minor program.

Exchange Program
• 150 undergraduate students in the school can participate.
• one semester academic exchange program, exchange normally takes
   place in the spring semester of the second year or fall semester of the
   third year of study.
• exchange partners: 75 highly renowned universities in North America,
   Europe and the Pacific region.
• application usually starts at around December
  or March each year.
• Participatingstudents will pay regular tuition fee
  to HKUST in the semester in which they are
  exchanging out.
• Credits taken at the exchange institutions can be
   transferred to UST to fulfill the program requirement.

Undergraduate Exchange Program Partners

•   Fudan University
•   Harbin Institute of Technology
•   Nanjing University
•   Peking University
•   Shanghai Jiaotong University
•   Sun Yat-Sen University
•   Tsinghua University
•   University of Science and Technology of China
•   Xian Jiaotong University
•   Zhejiang University

Undergraduate Exchange Program Partners


   – National University of Singapore
   – Singapore Management University

South Korea

   – Korea University
   – Yonsei University


   – Chulalongkorn University

Undergraduate Exchange Program Partners
• Copenhagen Business School, Denmark
• Ecole Superieure de Commerce de Bordeaux, France
• Ecole Superieure de Commerce de Budapest
• Institut de Formation Internationale (IFI), Groupe ESC Rouen, France
• University of Economic Sciences and Public Administration, Hungary
• Ceram Sophia Antipolis, France Rouen, France
• Helsinki School of Economics, Finland
• Lancaster University, U.K.
• University of New South Wales
• University of Sydney
New Zealand
• Massey University

  Undergraduate Exchange Program Partners
 Europe (con’t)
• Wirtschaftsuniversitat Wien (Vienna University of Economics &
  Business Administration), Austria
• Wissenschaftliche Hochschule fur Unternehmensfuhrung (WHU),
• Leon Kozminski Academy of Entrepreneurship and Management,
• Norwegian School of Management BI, Oslo/Sandvika, Norway
• University of Manchester Institute of Science & Technology, U.K.
• Stockholm School of Economics, Sweden
• Tilburg University, The Netherlands
• Universita' Commerciale Luigi Bocconi, Italy
• University of Economics, Prague, Czech Republic
• University of Maastricht, The Netherlands
• Lund University, Sweden
• University of Navarra, Spain
• University of Northumbria, U.K.
Undergraduate Exchange Program Partners

   –   McGill University
   –   Queen's University
   –   University of Alberta
   –   University of British Columbia
   –   University of Calgary
   –   University of Western Ontario
   –   Wilfrid Laurier University
   –   York University

   – Monterrey Tech University

Undergraduate Exchange Program Partners
    – Boston College
    – Emory University
    – Georgia Institute of Technology
    – Lehigh University
    – Michigan State University
    – New York University
    – Ohio State University
    – Texas A&M University
    – Tulane University
    – University of Arizona

• University of California, System
   – UC Berkeley,
   – UC Davis,
   – UC Irvine,
   – UC LA, UC Riverside,
   – UC San Diego,
   – UC Santa Barbara,
   – UC Santa Cruz
• University of Hawaii at Manoa
• University of Pennsylvania
• University of Maryland
• University of Minnesota
• University of Southern California
• University of Texas at Austin
• University of Wisconsin-Madison
• Washington University

Undergraduate Mentoring System

The Department is keen to maintain the quality and attractiveness of our
teaching programs, we have launched a series of initiatives to enhance
the attractiveness of our undergraduate programs. Among others, we
have instituted a faculty mentoring program.

• each student majoring in economics is assigned a faculty mentor.
• aims at building strong and friendly relations
   between faculty members and students.
• faculty mentor advises students on academic and,
   possibly, career matters.
• faculty members also expect to learn ways to improve
  teaching and the program from the students.
• maintain close interaction through formal and
  informal meetings.

Research Opportunities
Some courses offered by the department require students to do
individual, independent research projects. Research employment and
Individual research opportunities have proven useful both to the
students’ career prospects and to their post-graduate studies.

-   the department regularly employs a number of outstanding students
    as Junior Research Fellows.
    – they work for a maximum of ten hrs per week
    – assist faculty members conduct research.
    – summer employment opportunities available.

-   the University has introduced a new Undergraduate
    Research Opportunities Program (UROP) to which
    students can apply.

Further Study
- many of our graduates go on to postgraduate studies.
- our Department offers Master of Science (M.Sc.), Master of Philosophy
  (MPhil) and Doctor of Philosophy (Ph.D.) programs.
- some students pursue Ph.D. at North American universities. Examples
•    Boston University,
•    New York University,
•    Rochester,
•    Pennsylvania,
•    Northwestern,
•    Harvard,
•    UBC,
•    UCLA,
•    Chicago, and
•    Stanford.

  HKCEE and ALE Requirements

• Hong Kong Certificate of Education Examination (HKCEE)
   i. passes in at least 7 subjects on the first and if necessary, second
       attempt, of which, at least 5 must be passed at a single sitting; and
   ii. 3 must be Mathematics, English Language (Syllabus A or B),
       and either Chinese or an alternate language
• Hong Kong Advanced Level Examination (HKALE)
    i. passes at the same sitting in either 1 AL subject
       plus 2 AS subjects, or two AL subjects;
   ii. pass in AS Chinese Language and Culture*, and
  iii. D or above in AS Use of English (UE).

HKCEE and ALE Requirements (cont’d)

*   An AL/AS subject may be used as a substitute for the Chinese
    Language and Culture requirement for applicants who have taken a
    foreign language other than Chinese in HKCEE.

• 1.5 weighting is given to the best exam result:

    HKCEE: English, Mathematics, Chinese, one of,
      economics, physics, chemistry, A. Math

    HKAL: Use of English and one of,
    - economics,
    - pure mathematics or applied mathematics,
    - physics or chemistry.

2005 BSc (Economics and Finance)
Graduates Employment Summary (i)
•   Employment status (%) :

    Full-time employed:                  77.4%
    Temporarily or part-time employed:    6.5%
    Full-time further studies:           16.1%

• Gross Monthly Income ($) :

    Median: $12,238 ; Average : $12,913
    Minimum: $9,000 ; Maximum: $28,070

Graduates Employment Summary (ii)
Distribution of full-time employed graduates by Job Nature (%):
  –   Accounting/Auditing/Taxation         4.2%
  –   Admin/Management                     4.2%
  –   Banking/Finance                     33.3%
  –   Clerk                                 8.3%
  –   Economic, Statistical & Mathematical 8.3%
  –   Insurance/Real Estates Services     12.5%
  –   Merchandising/ Purchasing             8.3%
  –   Protective                            4.2%
  –   Marketing/Sales                     12.5%
  –   Teaching/Lecturing                    4.2%

      Population     Respondents
        45              31

                Admission Matters

• Information sessions and interviews will be held at
  HKUST in May

• Interview for selected students: Performance counts

• New program:
  BSc (Math and Econ) for 2007/08


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