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Jointly offered byDepartments of Mathematics and Economics

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Academic Aspirations

Provide students with solid training in fundamental theories in both mathematics

and economics.

Equip students with quantitative reasoning skills, conceptual understanding and the ability to effectively communicate in mathematics and in the language ofeconomics and social science.

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Provide a program of study for students who seek the option of taking a quantitatively oriented job in financial industry or intend to pursue postgraduate study in applied mathematics, economics, or in a related area, like quantitative finance ormanagement science.

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Why choose this degree program?

The program is advantageous to students who otherwise would take a single major in mathematics or economics.

Sequences of mathematics and economics courses are provided to equip students with a strong quantitative background in economics and related areas in management and finance.

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Career Prospects

Ample career opportunities in the financial sector and public sector for university graduates that fully understand the use of mathematical and economic tools and those who are able to use the knowledge and language of both disciplines.

Equipped with the necessary background for

entry into postgraduate degree programs in applied mathematics and economics.

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Apportionment of legislature seats based on populations of districts

District PopulationA 9061 8.713 [9] 9.061 [9] 9.41 [9]B 7179 6.903 [7] 7.179 [7] 7.455* [8]C 5259 5.057 [5] 5.259 [5] 5.461* [6]D 3319 3.191 [3] 3.319* [4] 3.447 [3]E 1182 1.137 [1] 1.182 [1] 1.227 [1]

26000 25 26 27

exact quota27 seats

exact quota25 seats 26 seats

exact quota

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Method of Greatest Remainder – Favoring districts with larger population

Order the remainder qi qi, and allocate, one each, to the districts having the largest fractional remainders.

Integer programming problem.

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Alabama paradox – Loss of House Monotone Property

Increase in the total number of seats may force a state to lose seats

− In 1880, Alabama would get 8 seats from total of 299, but only 7 from total of 300.

It changes priority order of assigning surplus seats.

Alabama had an exact quota of 7.646 at 299 seats and 7.671 at 300 seats.

Texas and Illinois increased their quotas from 9.040 and 18.640 to 9.682 and 18.702, respectively.

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Population paradox

State X could lose seats to state Y even though population of X had grown faster than population of Y.

New States Paradox

Adding new state, and increasing number of seats, can cause another state to lose seats.

− In1907, Oklahoma added as new sate with 5 new seats to House (386 to 391). Maine’s apportionment went up (3 to 4) while New York’s went down (38 to 37).

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Two-sided matching schemes

University admission schemes

− Individual student has preference list of programs

− Each program has its own priority choices of students

Marriage

Social Choice Theory

Social choice theory studies voting rules for how individual preferences are aggregated to form collective preference.

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Impossibility Theorem

A characteristic method proceeds from formulating some set of apparently reasonable axioms of social choice as requirements for a social welfare function (constitution) to capture different aspects of the aggregation problem.

Logical incompatibility of different axioms

No voting system can convert the ranked preferences of individuals into a commodity-wide ranking while also meeting a certain set of reasonable criteria with 3 or more discrete options to choose from.

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Measurement of political power

United Nations Security Council

Big “five” permanent members, each has veto power.

Ten “small” countries whose membership rotates.

What is the relative strength (political power) of the “big” and “small” nations?

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United States federal system

537 voters in the system: 435 Representatives, 100 Senators, the Vice President and the President.

The President has veto power that can be overridden by a two-thirds vote of both the House and the Senate.

The Vice President plays the role of tie breaker in the Senate

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Key components in the curriculum

Subject area No. of courses

Mathematics 8

Economics 8

Humanities and Social Science 4

Business 1

Computer Science 1

Language 2

Free electives 3

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Major Program Requirements

Core Courses

MATH 101 Multivariate Calculus [3-1-0:4]

MATH 111 Linear Algebra [3-1-0:4]

MATH 201 Introduction to Analysis [3-1-0:4]

ECON 198 Microeconomic theory I [3-1-0:4]

ECON 199 Macroeconomic theory I [3-1-0:4]

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Required Courses

MATH 241 Probability [3-1-0:4]

MATH 301 Real Analysis [3-1-0:4]

ECON 200 Microeconomic theory II [3-1-0:4]

ECON 201 Macroeconomic theory II [3-1-0:4]

ECON 233 Introduction to Econometrics [3-1-0:4]

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Elective Courses

Three Mathematics electives are chosen at the 300-level or above. Some recommended Mathematics electives

are

MATH310 Game Theory [3-1-

0:4]

MATH341 Stochastic Modeling [3-1-

0:4]

MATH362 Fundamentals of Mathematical Finance [3-1-

0:4]

Three Economics electives are chosen at the 300-level or above [1].

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General Education Requirements

Electives must be selected from among those general education courses that are listed under the section “Designated General Education Courses”.

Minimum MinimumElective Types Number of Course Credits

________________________________________________________________

GEE (B&M) Business and Management 1 3 General Education Elective

GEE (ENGG) Engineering General Education Elective 1 3

GEE (H&SS) Humanities and Social Science 4 12General Education Elective

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ECON 150 [3-0-0:4]Big Problems in Economics: Issues, Ideas, and Principles_____________________________________________________________

Non-SB&M students are preferred.  The course introduces students to some of the economic principles that never have proven to be powerful tools for analyzing real-world problems. A wide range of the most pressing issues of our times will be identified and discussed. The necessary framework for analyzing them ill be developed. The course is especially for the concerned non-business citizen-student who wants to fulfill general education requirements, No prior background in economics is required.

ECON 191Honors Microeconomics [3-1-0:4]_____________________________________________________________

Application of economic theory to important real-world problems; reading of

selected excerpts from important books and articles; discussions of

methodology and current controversies. Exclusions: ECON 110, ECON 111,

ECON 113, SOSC 144, AL Business and Economics Prerequisite: B or above

in AL Economics

2020

COURSE IN LANGUAGE FOR BUSINESS LABU 101 Business Case Analyses [0-3-0:4]______________________________________________________________

A one-year course for Business students and students in Technology and Management.  This course develops students' critical thinking and communication skills as well as interdisciplinary awareness through a process of comprehending, analyzing and presenting business cases in various disciplines. Exclusion: LANG 107

LANG 201 Business Communication [0-3-0:3]______________________________________________________________

Restricted to students in the School of Business and Management. Focuses on the processes and skills of effective oral presentation, report and letter writing in business situations where English is the medium of communication. Prerequisite: LABU 101/LANG 107

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Admission channels and requirements

Interested applicants may apply via the JUPAS or the Early Admission Scheme. In addition to the

General University entrance requirements, an applicant must obtain

1. grade D or above in AS use of English in HKALE

2. pass in AL Pure Mathematics

plus 1 AL / 2 AS subjects

2008 intake : median JUPAS score = 23

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For more details,

please visit the program web page

at

http://www.math.ust.hk/ug/programs/bsc.mathecon.shtml