COMMUNITY COLLEGE OF CITY UNIVERSITY CITY UNIVERSITY OF HONG KONG

Transcription

1 COMMUNITY COLLEGE OF CITY UNIVERSITY CITY UNIVERSITY OF HONG KONG Information on a Course offered by Division of Business Course Title: (English) Economics I (Chinese) Course Code: BUS10407 Credit Units: 3 Level: A1 Medium of Instruction: English Pre-requisites: Nil Pre-cursors: Nil Equivalent Courses: CM10401 Principles of Microeconomics CM10407 Economics I Exclusive Courses: Nil Course Duration: One semester Course Aims: This course aims to provide students with an understanding of the basic economic theories, concepts and techniques; and to enable students to examine and analyze the decision making behaviour of individual households, firms and markets in the society. Course Intended Learning Outcomes (CILOs) Upon successful completion of this course, students will be able to: 1. Describe the behaviour of consumers and firms nationally and globally; 2. Explain the price mechanism in the society; 3. Explain the welfare consequences of the interaction of different economic participants in various market structures; 4. Analyse the effect of the external economic environment, including government intervention, individual actions and social responsibilities; 5. Apply basic economic tools to analyse economic and social issues ; and 6. Appraise the impact of microeconomic policies on firms and households.

2 Alignment of the CILOs with the Intended Learning Outcomes (ILOs) of General Education: (only for Generic Core Course) Intended Learning Outcomes (ILOs) of General Education I-V: Required (must fulfil all these outcomes) I. Demonstrate a solid foundation of inquiry skills for life- long learning II. Apply critical and creative thinking skills III. Communicate coherently in written and spoken language IV. Apply quantitative reasoning / problem solving skills V. Demonstrate capacity for ethical reasoning and responsible actions VI- VIII: Optional (must fulfil at least one) VI. Recognize the important characteristics of diverse peoples and cultures VII. Examine the major regional and global issues and relate them to the socio-political, cultural, economic and technological factors VIII. Appreciate the impact of scientific and technological development on society and individual Business Administration (Global Logistics and Supply Chain Management): I. Apply broad-based business knowledge and problem solving skills to a wide range of issues; II. Apply the principles, knowledge and skills of logistics and supply chain management in academic and work situations to produce quality outputs; III. Examine the major socio-political, cultural and economic issues affecting logistics and supply chain management in the local, national, regional

3 and international contexts; IV. Apply generic skills like information technology, spheres; V. Communicate efficiently in English as well as Chinese, both orally and in writing, in different business environments; and VI. Relate the major ideas in arts and humanities, science and technology to their own area of study. Business Administration (International Business Management): I. Apply broad-based business knowledge and problem solving skills to a wide range of issues in academic and work situations to produce quality outputs; II. Examine socio-political, cultural, economic and ethical issues in the global business environment; III. Analyze international business strategy including crosscultural management issues; IV. Apply generic skills like information technology, spheres; V. Communicate efficiently in English as well as Chinese, both orally and in writing, in different business environments; and VI. Relate the major ideas in arts and humanities, science and technology to their own area of study. Business Administration (Accountancy): I. Apply broad-based business knowledge and problem solving skills to a wide range of issues; II. Apply the principles, knowledge and skills of accountancy in academic and work situations in a supervisory role to produce quality outputs; III. Apply the theories, procedures and skills at professional level of audit and assurance, financial reporting, taxation and legal framework to business organisations in balancing the competing interests of various stakeholders; IV. Apply interpersonal and communication skills, in

4 English and Chinese, and generic skills like information technology, management, evaluation, quantitative and analytical reasoning, and the skills in the ability to learn how to learn in diverse environments; V. Examine the major socio-political, legal, cultural and economic issues affecting accountancy in the local, national and international contexts; VI. Relate the major ideas in arts and humanities, science and technology to their own area of study. Business Administration (China Business Management): I. Apply broad-based business knowledge and problem solving skills to a wide range of issues; II. Apply interpersonal and communication skills, especially those related to working in teams, in the workplace with cultural diversities; III. Analyse the specialized knowledge to prepare for a career relating to China business; IV. Evaluate the major socio-political, cultural and economic issues affecting China business in relation to the local, regional and international contexts; V. Communicate efficiently in English and Chinese, both orally and in writing, in different business environment; VI. Relate the major ideas in arts and humanities, science and technology to their own areas of study. Business Administration (Marketing): I. Apply marketing and management knowledge and skills to work in front line positions or as management traineeships in marketing and/ or in services sector II. Apply interpersonal communication skills and generic skills while working in a culturally diversified team III. Relate arts and humanities, science and technology to their study, and to practice in an ethical and professional manner

5 IV. Analyse business problems and issues taking into consideration various social, political, economic, technological and environmental factors. Business Administration (General Management): I. Analyze, explain and apply broad-based business knowledge; II. Demonstrate ethical and professional managerial practices in both local and international dimensions; III. Communicate effectively in English as well as Chinese both orally and in writing in different business environments; IV. Apply interpersonal and lateral thinking skills to solve problems that are likely to be encountered in work situations; V. Apply generic skills like information technology, spheres; and VI. Relate the major ideas in arts and humanity, science and technology to their own area of study. Business Administration (Financial Services): I. Apply broad-based business knowledge and problem solving skills to a wide range of issues; II. Apply theories, concepts and skills relating to financial services in academic and work situations to produce quality outputs giving regard to ethical and social responsibility implications; III. Examine the major socio-political, cultural and economic issues affecting financial markets in the local, national, regional and international contexts; IV. Apply generic skills like information technology, spheres; V. Communicate efficiently in English as well as Chinese, both orally and in writing, in different business environments; and

6 VI. Relate the major ideas in arts and humanities, science and technology to their own area of study. Business Administration (Human Resources Management): I. Analyze a wide range of organizational issues by applying broad-based business knowledge; II. Apply the knowledge and skills of human resources management in academic and work situations; III. Analyze business practices in both local and international business contexts; IV. Apply generic skills like information technology, spheres; V. Communicate effectively in English as well as Chinese, both orally and in writing, in different business environments; and VI. Relate the major ideas in arts and humanities, science and technology to their own area of study. Alignment of the CILOs with the of ASc Applied Business Statistics: I. Apply mathematical and statistical skills to formulate and solve business problems II. Use a range of statistical and information technology applications to solve business problems III. Apply business sense and ethical principles in the undertaking of statistical work IV. Examine the major socio-political, cultural and economic issues affecting business in the local, national, regional and international contexts V. Perform skilled tasks responsibly and produce outputs that meet quality standards VI. Communicate efficiently in English both orally and in writing in different business environments VII. Relate the major ideas in arts and humanities, science and technology to their own area of study

7 Keyword Syllabus: (a brief description of the syllabus of the course) Theories of consumer economics Choice in a World of Scarcity; Cost-Benefit Principle; Opportuntity cost; Resources allocation and efficiency Demand, supply and market equilibrium Buyers and sellers in markets; Individual and market demand and supply curves; Determinants of supply and demand; Market equilibrium; Efficiency and equilibrium Elasticities Price elasticity of demand; Elasticity and total expenditures; Price elasticity of supply Production function and costs Production and costs; Costs in the short run and in the long run Market structure and competition Profit maximizing firms in perfectly competitive markets; Five sources of market power; Imperfect competition; Game theory and strategic decisions Factor market and income distribution Equilibrium wage and employment level Market failure and public policies External cost and benefits; Public goods and tax policy Teaching and Learning Activities (TLAs): (designed to facilitate students achievement of the CILOs) a. Lectures will primarily focus on the introduction and explanation of key concepts and theories with illustrations to local/ regional contexts. Frequent in-class discussions will be held. b. Tutorials provide students with the opportunity to consolidate and apply the concepts and theories to minicases. Activities include student presentation and discussion of cases/problems. Teaching Schedule: Lecture (hr/week): 2 Tutorial (hr/week): 1 Other (please specify) (hr/week): Assessment Tasks/Activities: (designed to assess how well the students achieve the CILOs) Type of assessment tasks/activities % Brief Description of assessment tasks/ activities i. Group presentation 15 Discussion and practical application of concepts and theories to real-life and business scenarios through group presentations. Each group is responsible for two presentations.

8 ii. Individual assignment 10 Students are required to submit ten individual assignments which are related to economic topic(s) in the syllabus. iii. Mid-Term Test 15 One mid-term multiple choice test assesses students ability to identify, analyse & apply microeconomics concepts and principles iv. Examination 60 Two hour examination to assess students ability to critically examine different scenarios and solve problems using multiple choice and essay questions. Assessment Schedule (on the basis of Assessment Tasks/ Activities identified above) Examination (%): 60 Duration (Hrs): 2 Coursework (%): 40 Participation (%): Nil Grading Mode: Standard or Pass/Fail* (delete as appropriate) Alignment of TLAs and Assessment Tasks/Activities with the CILOs: TLAs (Please if the TLA(s) is/are aligned with the CILO CILOs 1 Describe the behaviour of consumers and firms nationally and globally; 2 Explain the price mechanism in the society; 3 Explain the welfare consequences of the interaction of different economic participants in various market structures; 4 Analyse the effect of the external economic environment, including government intervention, individual actions and social responsibilities; 5 Apply basic economic tools to analyse economic and social issues ; and 6 Appraise the impact of government s microeconomic policies on firms and households. Assessment (Please if the Assessment(s) is/are aligned with the CILO a. b. i. ii. iii. iv