This course is designed for first-year students in the School of Economics and Management.
This course introduces students to the fundamental principles of microeconomics and macroeconomics. It examines how individuals, firms, and governments make economic decisions and how markets allocate scarce resources. Key topics include supply and demand, elasticity, consumer and producer behaviour, market structures, market failure, national income measurement, inflation, unemployment, the financial system, public saving, the crowding-out effect, open-economy macroeconomics, exchange rates, and fiscal and monetary policy. The course combines economic theory with calculations, diagrams, case studies, and contemporary applications to help students interpret real-world economic issues and make informed decisions.
This course is a guide to economic literacy and the global economy. It begins with an introduction to supply and demand as well as the basic forces that determine an equilibrium in a market economy. Secondly, it introduces a framework about consumer and firm behaviour. The final section provides an introduction to macroeconomics
topics. Students will be required to understand basic theory and solve basic problems of the real economy.
This course introduces students to key concepts in optimization, with a focus on their practical applications in business. The topics include matrix algebra, linear programming techniques, graphical solution methods, and sensitivity analysis. The course also explores specialized applications such as marketing optimization, financial planning, operations management and network distribution models. Students will learn to model, analyze, and solve real-world business optimization problems. The course demonstrates how mathematical tools can support strategic decision-making, improve operational efficiency, and enhance resource management in data driven business environments.
This course introduces students to key concepts in optimization, with a focus on their practical applications in business and e-commerce. The topics include matrix algebra, linear programming techniques, graphical solution methods, and sensitivity analysis. The course also explores specialized applications such as marketing optimization, financial planning, operations management and network distribution models. Students will learn to model, analyze, and solve real-world business optimization problems. The course demonstrates how mathematical tools can support strategic decision-making, improve operational efficiency, and enhance resource management in data-driven business environments.
The course will highlight sources of comparative advantage (The Ricardian Model), gains and losses from trade, resources and trade (The Heckscher-Ohlin Model), the impact of trade on economic growth, and effects of trade policy interventions such as tariffs, quotas, voluntary export restraints, and export subsidies. Students will develop an appreciation of the Political Economy of Trade Policy, National Income Accounting, Balance of Payments, Money, Exchange Rates and the Foreign Exchange Market Approach. A critical understanding of models of exchange rate determination with flexible prices, fixed prices and sticky prices will be developed. Students will also develop an understanding of the empirical literature on Political Economy of Trade Policy and on the analysis of trade flows at the macroeconomic level. Emphasis will be given to issues of particular reference topics on international trade & finance, balance of payments, determination of foreign exchange rates, and international monetary system.
SEM108 Macroeconomics for 2026/09. Course coordinator: Tee Chee Lip