The Liberal Art University in Hong Kong
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Discipline Major in Economics

Economic questions arise from dilemmas and difficult choices under limited resources and constraints. Faced with the problem of scarcity, we must decide how to best allocate resources among competing uses. Every decision inevitably carries its opportunity cost. Economics studies how individuals, businesses, governments, and societies make choices as they confront different situations. Two big questions summarise the scope of economics: How do individuals’ choices in the market place end up determining what, how, and for whom goods and services are produced? How do they make choices in other contexts and what are the consequences of such choices for their private benefits and for society at large? The goal of the Economics Discipline Major programme is to open students’ eyes to the economist’s way of thinking. It will help students gain insight not only into how the economy works, but also how society and human beings can make better choices, collectively or as individuals.

  • Knowledge

    Graduates will have knowledge and understanding of:

    • the main concepts, theories and methods of modern economic analysis
    • how the market economy works, why it often works well, and why and when it does not work so well, in terms of allocation and use of resources
    • the economic role of government and government policies

    Skills

    Graduates will be able to:

    • apply economic theories to a range of economic and other problems and to effectively articulate their analyses
    • identify economic policy options and assess the likelihood that they would improve economic growth, efficiency and equity
    • explore questions relating to the economy and human behaviour by means of empirical analysis and interpretation of the results

    Values

    Graduates will be able to:

    • act as informed and knowledgeable citizens in local and global affairs
    • understand different ideas and engage in a fruitful dialogue with people who hold different views
    • appreciate the need for evidence-based arrangements and logical rigor in establishing the truth