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

2. The MSAE Programme A relatively new programme
1st class
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

3. 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)

4. 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

5. 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)

6. 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

7. 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.

8. 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
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!

9. 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 there is a student from Belgium

10. 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

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

12. 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

13. 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 …

14. 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

15. 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.

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

17. Track Records: Further Study Overseas
class: Oxford with the Wei Lun Fellowship; CityU.
class: UC-Irvine, Wisconsin Madison, UC-Riverside, LSE, NUS, CUHK, CityU. (Two Oxford AD but didn’t go)
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).

18. 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 and Excel files.

19. 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.

20. 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 class.
Fully employed.

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

22. 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, …).

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

24. 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 class and all just got offers or AD (GSU, Cornell, Texas A&M, CityU MPhil).

25. 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

26. 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:
Application Closing Date: March 31, 2008

27. Further Information Website: www.cityu.edu.hk/ef
Phone:
Fax:

28. Questions and Answers Session