Master of Science Programme Applied Economics (MSAE) Welcome to the Information Session Master of Science Programme in Applied Economics (MSAE) Fred Y Kwan

The MSAE Programme A relatively new programme 1st class 2005-06 Offered by the Department of Economics and Finance (EF), Faculty of Business, City University of Hong Kong CityU is one the eight HK government funded universities in Hong Kong CityU is a non-profit making university

The City University of Hong Kong Top 200 universities in the world (Times Higher Education Supplement, UK, 2005) Top 30 Asian Universities (Asiaweek 2001) Top 10 universities in the Greater China Region (Shanghai Jiaotong University Surveys 2003 and 2004)

Faculty of Business Ranked top 100 in the world (University Texas-Dallas 2005) Triple accredited by AACSB, EQUIS and AMBA for high quality teaching and research The only business school in the Greater China region to have gained such prestigious recognition

Department of Economics and Finance (EF) - Ranking Economics research ranked among top 10 in Asia (Pacific Basin Finance Journal 2001) Finance research ranked among top 3 in Asia (Economic Inquiry 1999)

MSAE Programme – Why training in Applied Economics is essential Economic analysis is widely applied in international trade, telecommunication markets, competition law, banking and financial systems, as well as in other related areas Our programme will provide you with a solid training in economic analysis and techniques Upon graduation, you will be qualified to pursue a career as a professional economist in business and governmental organizations or further your study at the PhD level

MSAE Programme - Teaching staff International teaching cast Prof Gregory Chow, Princeton U Prof Cheng Hsiao, USC Prof Yew-Kwang Ng, Monash U Prof Eytan Sheshinski, Hebrew U and Princeton U Prof Bharat Hazari, Australia Academy of Social Science and CityU Prof Kwan Choi, Iowa State U Prof Ira Horowitz, Florida U Prof Kenneth Chan, McMaster U and CityU Dr Vivian Lei, U of Wisconsin (Milwaukee) Prof Nelson Mark, Notre Dame U Plus in-house staff all have PhD from renowned graduate schools in US or Europe.

These professors teach the entire course, not just give a talk These professors teach the entire course, not just give a talk. For example, in 2006-07 Microeconomics Econometrics Topics in Microeconomics Experimental Econ International Finance Bharat Hazari Cheng Hsiao & Wing H Chan Yew-Kwang Ng, Eytan Sheshinski, and Ira Horowitz Vivian Lei Kenneth Chan & Nelson Mark You get the same education as if you go to graduate schools in US, Canada, and Other countries. But you pay a relatively low tuition fee and living expenses!

MSAE Programme – Targeted students & Current Student Profile Designed for fresh graduates and young professionals who are prepared in analytical thinking, quantitative skills and keen on economics Applicants are expected to have attained an intermediate level of undergraduate microeconomics, although a bachelor’s degree in economics or related areas is not a pre-requisite for admission Our current students are graduates of prestigious universities from Hong Kong and mainland China, as well as overseas countries including US, Canada, UK and Australia In 2007-08 there is a student from Belgium

MSAE Programme – Contents and Duration The programme aims to enhance students’ ability in analyzing economic policies, making business decisions, and performing applied economic research Students will receive training in economic analysis, empirical and quantitative methods Non-HK students will study full-time and complete the programme in one year. This is required by the HK government HK students can take the two-year part-time mode

MSAE Programme – Programme Structure 5 Core Courses (15 credits) 30 credits 5 Elective Courses (15 credits)

MSAE Programme – Programme Structure (con’t) Core Courses Elective Courses (At least two of the following) Advanced International Trade China Economy Econometrics Economic Growth and Development Advanced Microeconomics Experimental Economics Advanced Macroeconomics Financial Economics Seminars in Applied Economics Industrial Organization International Finance Topics in Microeconomics Urban and Real Estate Economics Topics in Macroeconomics

Free Electives Can choose up to three free electives EF finance courses: Corporate Finance, Investment, Advanced Corporate Finance. Courses offered by other departments, e.g. (MS) Forecasting Methods for Business, Statistical Methods for Finance, Business Scheduling, … (Math) Mathematical Methods in Finance (MA) Human Resources Management …

Very flexible structure Students who wants to have 100% econ contents can choose all 5 electives from the list of core electives Students who wants a heavy dose of finance can achieve a 1/2-1/2 proportion of econ and finance (Core electives) Financial Economics and International Finance. (Free electives) Any three of Corporate Finance, Investment, Mathematical Methods in Finance, Stat. Methods for Finance, Adv Corporate Finance. Students can mix the 5 electives to achieve any structure they like

A Special Feature - Seminars in Applied Economics The workshop is one of the compulsory core courses Its objective is to enrich your professional scope and knowledge by providing you with insights into the application of economic analysis to real world issues Professional seminars, workshops, and public lectures are organized for students to gain exposure to real world practice Past speakers: Professional economists, Bankers, Professors, Writers, and other practitioners.

Career Prospects General Business Economists in Banks, Government Bodies, and Policy Research Institutes Further graduate work at the PhD level

Track Records: Further Study Overseas 2005-06 class: Oxford with the Wei Lun Fellowship; CityU. 2006-07 class: UC-Irvine, Wisconsin Madison, UC-Riverside, LSE, NUS, CUHK, CityU. (Two Oxford AD but didn’t go) 2007-08 class (7 fellowship offers already; as of March 1): Rochester, Cornell, Arizona State, Notre Dame, UC-Irvine, Florida, Texas A&M, Georgia State, CityU, and U Penn (waiting list).

Some examples Don’t have to be the top of class to get US offers Reflect the high value-added and good reputation of the MSAE programme See 2006-07 and 2007-08 Excel files.

A Good Stepping Stone If you haven’t applied for overseas grad schools or if there is no good offers, the MSAE programme can be a good stepping stone to get you to good overseas schools. Save your time: Only one year. Relatively low cost and high quality compared with US or European Master programmes.

Track Records: Jobs Two classes of graduates so far. Job offers for Mainland students include Investment banks in HK and Beijing Big4 in HK, Shenzhen, and Shanghai Asset management and consulting firms People Bank of China Big Banks like Citic, Chartered, HSBC. See the jobs of the 2006-07 class. Fully employed.

Career Enhancing Activities CV and interview workshops Cantonese classes Alumni experience sharing Career talks Individual consulting Recommend students to companies Write reference letters

Working in HK Mainland students can work in HK upon graduation from the programme Get HKSAR citizenship after 7 years “Study immigration” is much cheaper than “investment immigration” ($6.5 million) and less demanding than “talent immigration” (e.g. Lang Lang, Li Yundi, …).

Cost 2008-09 Tuition fee: About HKD 90,000 Living expenses: About HKD 40,000 – 50,000

Scholarships Professor Gregory Chow Distinguished Graduate Student Fellowship: Up to $130,000. MSAE Scholarships: $10,000 – $60,000 To be awarded to successful applicants with outstanding academic performance Every year we hire a few graduates as RA/TA for one year ($13,000 per month) – A kind of exit scholarship. Hired 4 from the 2006-07 class and all just got offers or AD (GSU, Cornell, Texas A&M, CityU MPhil).

Minimum Admission Requirements A Bachelor’s degree from a recognized university Applicants whose bachelors degree is obtained from a non-English-speaking institution need to fulfil: TOFEL score of 79 (internet) or 213 (computer) or 550 (paper) or IELTS - overall band score of 6.5, or CET- Band 6 Certificate 490, or Other equivalent qualifications Expect an intermediate level of undergraduate microeconomics and quantitative skills (i.e. calculus, statistics, etc.), although a bachelor’s degree in economics is not a pre-requisite Grad level economics is technically demanding Students with a physical science or engineering background are encouraged to apply

Application Procedures Short-listed applicants Successful Online/ Paper Interview with Programme Director And Teaching Staff Pay Acceptance Fee (6 credit units) (non-refundable) On-line Application: www.cityu.edu.hk/fb/postgrad Application Closing Date: March 31, 2008

Further Information Website: www.cityu.edu.hk/ef E-mail: mscstudy@cityu.edu.hk Phone: 852-2788-9583 Fax: 852-2788-9145

Questions and Answers Session