Page 175 - HKSYU Prospectus 2023-24

Economics & Finance

and supply; pricing and allocating factors of production; market failure and public choice;
externalities and the environment; national income determination models; fiscal policy; money
and banking in Hong Kong; monetary policy; inflation and business cycles; macroeconomic
policy challenges; trading with the world; and balance of payments and exchange rates.

ECON 320 International Trade
1 Term; 3 Credits
The aim of the course is to introduce to students the theories of international trade, as
well as to demonstrate the principles of applying basic models to trade policy analysis. Major
topics covered are as follows: Ricardian comparative advantage, the Heckscher-Ohlin model,
intra-industry trade, foreign direct investment (FDI), protectionism, economic integration, WTO,
and globalization.

Note: For the descriptions of courses not listed under the Department of Economics and
Finance, please refer to their respective Departments for details.

p. 171