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Course Description

The following courses are offered by Economics. Please click here for the courses that will be offered in a particular semester. 

 

HE9001 Mathematical Economics (core) ​
The aim of this course is to provide the graduate students with advanced mathematical background needed in economic research. Topics covered will be a balance between the conventional mathematical economics and the new developments in the frontier of computational economics, which include the advanced matrix analysis and qualitative analysis, optimization with or without constraints, discrete and continuous dynamic optimization, continuous and the discrete dynamic processes, nonlinear analysis and chaos, delayed-differential systems. Introductions to Singular and non-singular perturbation theory, Wavelet analysis, Genetic algorithm, Neural network and their applications in economic analysis will be also provided.

 

 
​​HE9002 Econometrics I (core)
This course builds on the earlier Principles of Econometrics by considering further inferential methods related to the multiple regression model using matrix algebra, and other methods widely used in empirical research. Large sample asymptotic theory is also introduced. Topics covered include maximum likelihood estimation, LR, Wald and LM test principles, instrumental variables and GMM estimation and model selection.
 

 
HE9003 Econometrics II (core)
This course provides a detailed treatment of models for analyzing both cross-sectional and time series data. The course emphasizes application rather than theory; hence, the models introduced are illustrated with examples using real-life data. In general, theoretical developments are often carried to the extent that they enhance understanding of the model.
 

 
HE9101 Seminar in Microeconomics (core)
The aim of this course is to provide a solid foundation in microeconomics at the graduate level. The course teaches tools related to optimization behavior and equilibrium analysis, bringing together topics in classical consumer and producer theories under perfect competition with modern game theoretical analysis. The core concepts are complemented with various applications, but the focus is on concepts and methods
 
 
 
 
HE9102 Seminar in Macroeconomics (core)
This course provides a one-semester graduate level course in macroeconomics that covers a range of topics. The course is divided into three broad topics: The first set of topics includes a brief overview of the growth literature and discussions on a few papers on general equilibrium (GE) growth models (exogenous and endogenous growth, and without and with credit constraints). The second set of topics is on business cycle models (dynamic stochastic general equilibrium (DSGE) models without nominal rigidities) to examine the impact of various shocks such as news, technological change, or uncertainty etc., on output, consumption, employment, investment and asset prices. The third set of topics is on New Keynesian models (DSGE models with nominal rigidities) to examine optimal monetary and fiscal policies under various types of shocks including monetary shocks. During the discussions, the students will also be introduced to software platform Dynare, and other Matlab toolboxes, which may be used to numerically solve DSGE models.​

 

 
HE9103 Seminar in Monetary Economics 
The aim of this course is to provide a solid foundation in monetary economics at the graduate level. Students will develop a critical understanding of both theoretical and empirical strategies used in the literature. This course is divided into three broad topics. The first set of topics is on monetary policy in a flexible in the sticky price in a New Keynesian model. The third set of topics includes econometric analysis of the monetary transmission mechanism. This course also introduces the money-in-utility model, the cash-in-advance model and a basic model of bank runs, which are necessary to analyze the impact of monetary policy on growth and welfare.

 

 
HE9104 Seminar in Development Economics 
This course introduces students to modern empirical methods including simple structural estimation and multiple methods in reduced form analysis. Students will be instructed to read classical/recent papers on relevant topics and to present the papers in class.

 

 
HE9105 Seminar in International Economics
This course aims to equip students with knowledge and skills to analyse economic relationships between countries covering both trade and monetary issues. The first half of the course deals with international trade theory and policy. Key topics include analyses on why countries trade with each other, the effects of trade on welfare and income inequality, the effects of trade barriers to trade and economic integration, the role of firm heterogeneity in international trade and the relationship between globalization and inequality.

The second half of the course focuses on issues related to international macroeconomics. This part of the course begins by laying out balance of payments accounts and open economy income identities. The course then focuses on some main questions in open economy macroeconomics. These include discussions on the issues of global imbalances, provision of frameworks to understand why countries run large current account surpluses or deficits,  discussions on the determination of nominal and real exchange rates and reviews of episodes of currency and financial crises.

 

 
HE9106 Topics In Mathematical Economics & Microeconomics (core)
This course intends to equip the postgraduate students with advanced mathematical theories, methodologies and computational algorithms that are widely applied both in economic analysis and financial analysis. Topics include but not limit to Log-Concave Distributions, Optimization of Submodular Functions, Genetic Algorithm, Artificial Intelligence, Neural Network, Wavelet Analysis, Support Vector Machine, Perturbation Theory, Agent-based Modelling, and Qualitative Comparative Statistics etc. It will not only update the researchers with most recent advances but also let the students have hands-on experience on the relevant applications in economic modeling, simulation and forecasting.
 
 

 
HE9201 Contemporary Issues in Economics
The contemporary issues covered in this course are behavioural and experimental economics. Behavioral and Experimental Economics is one of the fastest growing fields in economics today. It challenges some of the key assumptions in standard economic theories, such as rationality and self-interest. Oftentimes, people are not the flawless, time-consistent maximizers of their own expected utility that neoclassical rational choice theory assumes them to be. This course will teach the students the basic behavioral theories that describe the above behaviors, including basic prospect theory, hyperbolic discounting and theories of fairness and altruism.

Since behavioral economics (BE) is informed by insights from experimental research, the course will also introduce the students to experimental economics (EE) as a research methodology. We will discuss the main experimental evidence that supports the behavioral view of human decision-making. Students will get acquainted with the terminology of experimental economics, and the main types of experiments. They will learn how to design and conduct economic experiments. They will also learn how to design an experiment and analyze the outcomes.

 

 
​Notes: 
  • Courses and requirements are subject to review and change. 
  • Not all courses are available in one given semester. 
  • ​Courses will be offered on the basis of student intake, research areas and availability of faculty. 
  • Please click here​ for the courses that will be offered in a particular semester.
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