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Economics

12セクション

Basic Economic Concepts

Economics as a social science
Scarcity, choice and opportunity cost
The three basic problems
Competition and discrimination
Production and consumption

Firms and Production

Ownership of firms
Types/stages of production
Types of goods and services produced
Division of labour
Factors of production
Production and costs in the short run and long run
The objectives of firms

Market and Price

Law of demand
Law of supply
Market equilibrium
Interaction between demand, supply and price
Price elasticity of demand and supply
Market intervention

Competition and Market Structure

Perfect competition and imperfect competition (monopolistic competition, oligopoly and monopoly)

Efficiency, Equity and the Role of Government

Efficiency
Equity
Policy concerns

Measurement of Economic Performance

National income
General price level as measured by Consumer Price Index and implicit price deflator
Unemployment and unemployment rates
Recent trends of national income, general price level and unemployment in Hong Kong

National Income Determination and Price Level

Aggregate demand (AD)
Aggregate supply (AS)
The determination of level of output and price

Money and Banking

Money
Banks: functions and services
Money creation and contraction
Money demand, money supply and interest rate determination
Hong Kong as a financial centre

Macroeconomic Problems and Policies

Inflation and deflation
Government budget
Business cycles: a description of the short run fluctuations in real GDP around the long run trend
Unemployment
Fiscal policy and Monetary policy

International Trade and Finance

Free trade and trade barriers
Brief introduction to the balance of payments account
Exchange rate

Microeconomics Extension

Monopoly pricing & price discrimination
Anti‑competitive behaviours & competition policy

Macroeconomics Extension

Extension of trade theory
Economic growth & development

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