Information Session. Bachelor of Science (B.Sc.) Program in Economics and Finance (ECOF) Program Information Q & A

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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

• Q & A

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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?

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The BSc in Economics and Finance Program

ƒ The University is comprised of the following Schools and

Division:

– School of Engineering,

– School of Science,

– School of Business and Management, and

– Division of Humanities and Social Science

ƒ The B.Sc. in Economics and Finance Program

is run by the Department of Economics under

the School of Business and Management

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HKUST

SCI

SBM

ENG

H&SS

ECON

BBA

(ECON)

B.Sc.

(ECOF)

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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

methods.

• 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

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The BSc in Economics and Finance Program

Emphases: Analytical and Quantitative Aspects

Analytical:

(a) Analysis/Problem Solving with a coherent framework

(b) Systematic theory

Quantitative:

(a) Mathematical

(b) Statistical

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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

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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.

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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

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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

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For more details, visit

Undergraduate Admissions (JUPAS): Admission Grades

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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

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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

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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:

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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

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Finance Electives

• Financial Markets

• Advanced Financial Management • Management of Financial Institutions • Derivative Securities

• International Finance • Fixed Income Securities

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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.

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Faculty Members

• All faculty members have Ph.D. degrees from the world’s leading universities.

• 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).

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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

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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

.

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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.

Humanities

- Literature - History and Anthropology

- Philosophy and Religion

Social Science

- Economic and Political Development - Social Relations

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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.

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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.

• Participating students will pay regular tuition fee to HKUST in the semester in which they are

exchanging out.

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Undergraduate Exchange Program Partners

China

• 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

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Undergraduate Exchange Program Partners

Singapore

– National University of Singapore – Singapore Management University

South Korea

– Korea University – Yonsei University

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Undergraduate Exchange Program Partners

Europe

• 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.

Australia

• University of New South Wales • University of Sydney

New Zealand

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Undergraduate Exchange Program Partners

Europe (con’t)

• Wirtschaftsuniversitat Wien (Vienna University of Economics & Business Administration), Austria

• Wissenschaftliche Hochschule fur Unternehmensfuhrung (WHU), Germany

• Leon Kozminski Academy of Entrepreneurship and Management, Poland

• 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

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Undergraduate Exchange Program Partners

Canada

– McGill University – Queen's University – University of Alberta

– University of British Columbia – University of Calgary

– University of Western Ontario – Wilfrid Laurier University – York University

Mexico

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Undergraduate Exchange Program Partners

U.S.A.

– 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

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• 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

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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.

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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.

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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 include

• Boston University, • New York University, • Rochester, • Pennsylvania, • Northwestern, • Harvard, • UBC, • UCLA, • Chicago, and • Stanford.

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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).

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HKCEE and ALE Requirements (cont’d)

Footnotes:

*

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,

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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

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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%

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Admission Matters

• Information sessions and interviews will be held at

HKUST in May

• Interview for selected students: Performance counts

• New program:

Figure

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