Course Schedule for Econ modules offered in SEM 1, AY2014/2015

HE1001 Microeconomic Principles

HE1002 Macroeconomic Principles
HE1003 Basic Mathematics for Economists
HE204B/HE2005 Principles of Econometrics
HE206/HE2006 International Monetary Economics
HE207/HE2007 Money and Banking
HE208/HE2008 Public Finance
HE209/HE2009 Industrial Organisation
HE211/HE2011 Labour Economics & Labour Relations
HE301/HE3001 Mathematical Economics
HE302/HE3002 Game Theory & Applications to Social Sciences
HE303/HE3003 The Chinese Economy
HE304/HE3004 Health Economics
HE305/HE3005 Environmental Economics
HE310/HE3010 Energy Economics
HE4002 Advanced Macroeconomics
HE4005 Growth Theory and Empirics
HE4010 Singapore Economy in a Globalized World
HE4013 Experimental Economics
HE4015 Personnel Economics
HE4017 Monetary Economics
HE4020 Econometric Time Series Analysis

HE1001 Microeconomic Principles [Back]
Pre-requisite: NIL
Lecturer/s: Associate Professor Yohanes Eko Riyanto

This course gives students a basic grasp of economic theory as well as the ability to apply economic
principles to real-world problems. The course addresses the decision-making of small economic units -
consumers, firms and markets. Topics covered include cost-benefit principles, opportunity cost, laws
and elasticity of demand and supply, utility maximization, the concept of the margin, indifference
curves, profit maximization, market equilibrium and efficiency, market structure, market failure, public
choice, externalities and property rights, the economics of public policy and of public goods.

Group & Type Day/Time Index No.
LEC1 Tuesday / 1230 - 1430 -
T1 Monday / 0930 - 1030 17001
T2 Monday / 1030 - 1130 17002
T3 Monday / 1230 - 1330 17003
T4 Monday / 1330 - 1430 17004
T5 Monday / 1430 - 1530 17005
T6 Monday / 1530-1630 17006
T7 Thursday / 1030 - 1130 17007
T8 Thursday / 1130 - 1230 17008
T9 Thursday / 1230 - 1330 17009


HE1002 Macroeconomic Principles [Back]
Pre-requisite: NIL
Lecturer/s: Assistant Professor Wu Guiying Laura

This course exposes students to a basic understanding of the workings of the economy as a whole. The
topics covered include measures of the GNP; inflation and unemployment; economic growth; the
general product market; the 'Keynesian cross' model; the general money market, the creation of money;
the role of central bank and of the financial institutions; the basic IS-LM model; aggregate demand and
aggregate supply; open economy macroeconomics that includes capital flows and the balance of trade.

Group & Type Day/Time Index No.
LEC1 Thursday / 1430 - 1630 -
T1 Tuesday / 0930 - 1030 17010
T2 Tuesday / 1030 - 1130 17011
T3 Tuesday / 1130 - 1230 17012
T4 Tuesday / 1430 - 1530 17013
T5 Tuesday / 1530 - 1630 17014
T6 Friday / 1330 - 1430 17015
T7 Friday / 1430 - 1530 17016
T8 Friday / 1530 - 1630 17017
T9 Friday / 1630 - 1730 17018



HE1003 Basic Mathematics for Economists [Back]
Pre-requisite: NIL
Lecturer/s: Assistant Professor Chia Wai Mun

This course is designed for students who do not have the necessary background in mathematics.
Students will be taught mathematical techniques that are useful for economic analysis at both the
elementary and the intermediate level. Topics covered include functions, derivatives and partial
derivatives, optimization with or without constraints, integration, simple differential equations and
simple difference equations, matrix algebra.

Group & Type Day/Time Index No.
LEC1 Thursday / 0830 - 1030 -
T1 Friday / 0830 - 0930 17019
T2 Friday / 0930 - 1030 17020
T3 Friday / 1030 - 1130 17021
T4 Friday / 1330 - 1430 17022
T5 Friday / 1430 - 1530 17023


HE204B/HE2005 Principles of Econometrics [Back]
Pre-requisite: HE104B/HE1005 or equivalent
Lecturer/s: Assistant Professor Wang Wei-Siang

This course offers students in economics and other social sciences a firm foundation in the theory and
methods of econometrics. The course teaches students the main tools of estimation and inference.
Applications of econometric techniques will be illustrated by empirical examples based on economic
analysis. Students will be given hands-on experience through computer lab sessions.
The course begins with a thorough analysis of the simple linear regression model. It covers the
estimation and hypothesis testing of regression coefficients, goodness-of-fit and prediction. The model
is then extended to the multiple regression framework. Further topics such as diagnostic checking,
functional forms, restricted estimation, dummy variables and structural change are discussed. In
addition, the course provides an introduction to nonlinear models, models for panel data, and the
matrix approach to the GLM.

Group & Type Day/Time Index No.
LEC1 Thursday / 1130 - 1330 -
T1 Tuesday / 1330 - 1430 17031/17024
T2 Tuesday / 1430 - 1530 17032/17025
T3 Tuesday / 1530 - 1630 17033/17026
T4 Tuesday / 1630 - 1730 17034/17027
T5 Thursday / 1430 - 1530 17035/17028
T6 Thursday / 1530 - 1630 17036/17029
T7 Thursday / 1630 - 1730 17037/17030


HE206/HE2006 International Monetary Economics [Back]
Pre-requisite: HE1002/HE9091/AB0901
Lecturer/s: Associate Professor Joseph Dennis Alba

The aim of this course is to provide students with an understanding of the principles and applications of
international finance, so that students will be better equipped to analyze financial asset price
movements as well as the impacts of financial and political news, government policies and changes in
global economic environment on these asset prices; understand major international macroeconomic
issues, the adjustment mechanism of various exchange rate systems and the role of exchange rate and
other macroeconomic policies. The course will cover balance of payments, exchange rates and foreign
exchange market, exchange rate in the long run and in the short run, macroeconomic policies under
fixed and floating exchange rates, optimum currency areas, and other topics of interest to students.

Group & Type Day/Time Index No.
LEC1 Thursday / 1330 - 1530 -
T1 Tuesday / 1030 - 1130 17042/17038
T2 Tuesday / 1130 - 1230 17043/17039
T3 Tuesday / 1230 - 1330 17044/17040
T4 Tuesday / 1330 - 1430 17045/17041


HE207/HE2007 Money and Banking [Back]
Pre-requisites: HE1001/HE1002/HE9091/AB0901
Lecturer/s: Associate Professor Yip Sau Leung

This course offers a systematic analysis of monetary theories and the financial system. Apart from
exposing students to different approaches in monetary analysis, the course places a special emphasis on
the up-to-date analysis of how information costs affect financial structure and monetary policy. The
course will cover the structure and importance of the financial system, the functions of money, behavior
of interest rates, financial structure and asymmetric information, bank management and regulation,
debates on macroeconomic and monetary policies, the targets and instruments of monetary policies,
the transmission mechanism of monetary policy and its effectiveness, money and inflation, rational
expectations and its applications.

Group & Type Day/Time Index No.
LEC1 Tuesday / 1430 - 1630 -
T1 Monday / 0930 - 1030 17050/17046
T2 Monday / 1030 - 1130 17051/17047
T3 Monday / 1130 - 1230 17052/17048
T4 Monday / 1230 - 1330 17053/17049



HE208/HE2008 Public Finance [Back]
Pre-requisites: HE1001/HE9091/AB0901
Lecturer/s: Assistant Professor Giovanni Ko

This course uses the tools of microeconomic analysis to study the rationale for government intervention,
the areas of intervention and the sources of public financing. Topics include the theory of public goods;
externalities; natural monopolies; cost-benefit analysis of government projects; social expenditure
programmes; principles of taxation; personal and corporate income taxes; consumption taxes;
implications of tax policies for efficiency and equity; deficit financing; Singapore's budgetary policies.

Group & Type Day/Time Index No.
LEC1 Tuesday / 1130 - 1330 -
T1 Wednesday / 0930 - 1030 17061/17054
T2 Wednesday / 1030 - 1130 17062/17055
T3 Wednesday / 1130 - 1230 17063/17056
T4 Thursday / 1130 - 1230 17064/17057


HE209/HE2009 Industrial Organisation [Back]
Pre-requisites: HE1001/HE9091/AB0901
Lecturer/s: Assistant Professor Au Pak Hung

This course seeks to provide students with a consistent framework of economic analysis to understand
the impact of efficient organisation on the economy. It addresses some fundamental questions in
industrial organisation: how the modern firm has evolved; why some economic activities are organised
within the firm and others outside; how firms interact in the marketplace; how governments react to
strategic behaviour and how they regulate industries.

Group & Type Day/Time Index No.
LEC1 Monday / 0930 - 1130 -
T1 Tuesday / 0930 - 1030 17072/17068
T2 Tuesday / 1030 - 1130 17073/17069
T3 Tuesday / 1230 - 1330 17074/17070
T4 Tuesday / 1330 - 1430 17075/17071


HE211/HE2011 Labour Economics & Labour Relations [Back]
Pre-requisite: HE1001/HE191/HE9091/AB106/AB0901
Lecturer/s: Professor Chew Soon Beng

This course seeks to explain the inner workings of the labor market. The course focuses on the
economics of the labor market. It covers the determination of labor market demand and supply, wage
determination, wage differentials, human capital investment, migration and discrimination, as well as
unemployment and labor policies. The course also aims to explain why workers join unions, trade union
behavior, wage determination under the union, and the economic impact of unions.

Group & Type Day/Time Index No.
LEC1 Monday / 1430 - 1630 -
T1 Friday / 1330 - 1430 17080/17076
T2 Friday / 1430 - 1530 17081/17077
T3 Friday / 1530 - 1630 17082/17078


HE301/HE3001 Mathematical Economics [Back]
Pre-requisite: HE1003 or equivalent and HE201/HE2001/HE192/HE9092
Lecturer/s: Associate Professor Christos Sakellariou

This course deals with basic mathematical tools used to analyze economic problems. These include
matrix algebra, linear programming, differential calculus, differential and difference equations. This
course emphasizes economic applications of each technique and an understanding of standard
economic models. Economic models of continuous and lagged adjustments will be introduced. By the
end of the course, students will have learned enough mathematical skills to read some technical articles
in economics and to analyze some economic problems.


Group & Type Day/Time Index No.
LEC1 Wednesday / 1130 - 1330 -
T1 Monday / 1230 - 1330 17088/17084
T2 Monday / 1330 - 1430 17089/17085
T3 Monday / 1430 - 1530 17090/17086
T4 Monday / 1530 - 1630 17091/17087


HE302/HE3002 Game Theory & Application to Social Sciences [Back]
Pre-requisite: HE1003 or equivalent and HE2001/HE9092
Lecturer/s: Assistant Professor Hong Fuhai

This is an intermediate level game theory course. The basic concepts of games are discussed in a
rigorous manner. Examples are introduced to help students understand the basic concepts and their
applications. The prerequisites for taking this course include elementary economic theory, A-level
mathematics and elementary calculus.

Group & Type Day/Time Index No.
LEC1 Tuesday / 0930 - 1130 -
T1 Monday / 0930 - 1030 17096/17092
T2 Monday / 1030 - 1130 17097/17093
T3 Monday / 1130 - 1230 17098/17094
T4 Monday / 1230 - 1330 17099/17095


HE303/HE3003 The Chinese Economy [Back]
Pre-requisite: HE1001/HE1002/HE9091/AB0901
Lecturer/s: Professor Tan Kong Yam / Assistant Professor Zhang Jipeng

The purpose of the course is to provide students with a basic understanding of the emerging Chinese
economy and its business environment. Major topics include: (1) a background introduction to China's
economy and its economic reforms; (2) fundamental economic institutions; the current economic
structure; industrial policies; (3) macroeconomic policies; (4) growth patterns and trends.

Group & Type Day/Time Index No.
SEM1 Wednesday / 0930 - 1230 18003/18001
SEM2 Thursday / 1430 - 1730 18004/18002


HE304/HE3004 Health Economics [Back]
Pre-requisite: HE1001/HE9091/AB0901
Lecturer/s: Senior Lecturer David Alexander Reisman

Health care is expanding rapidly in both private and public sectors of the economy. As prevention and
cure of illness absorbs a larger and larger share of the national product, it becomes increasingly
important to examine the implications for efficiency and equity of the use that the industry makes of
scarce resources. This course will consider the principal areas of concern to the economist interested in
health status and health care. The topics will include demand, uncertainty, spillovers, health indicators,
cost-benefit and cost-effectiveness techniques, the goals and cost-functions of hospitals, the market for
medical-insurance, the pharmaceutical industry, manpower planning and health education. Theories will
be illustrated with material relating to Singapore and other countries, developed and less developed.

Group & Type Day/Time Index No.
SEM1 Friday / 0830 - 1130 18006/18005


HE305/HE3005 Environmental Economics [Back]
Pre-requisite: HE1001/HE9091/AB106/AB0901
Lecturer/s: Senior Lecturer William Henry Clune / Professor Euston Quah

This course deals with the application of microeconomic tools to the analysis of environmental
externalities. A main theme is the impact of economic activity on the quality of the environment and the
related policies and regulations that arise in response to these impacts. The course will cover methods
of valuing non-market environmental resources; assessment of environmental benefits and damages;
analytical tools such as cost-benefit analysis needed for project evaluation and environment impact
assessments; the concept of optimal pollution and its control; regulation and market solutions. Selected
topics on international environmental issues and aspects of sustainable development will also be
discussed.

Group & Type Day/Time Index No.
SEM1 Friday / 1130 - 1430 18006/18007



HE310/HE3010 Energy Economics [Back]
Pre-requisite: HE1001/HE9091/AB106/AB0901
Lecturer/s: Assistant Professor Chang Youngho

This course seeks to give students an introduction to the economics of energy use and its relationship
with the environment. It looks at energy demand and supply, both now and in the future, and energy
markets and trading (in particular, in oil markets). Alternative energy supply technologies and the
economics of renewable resources are also examined. Issues such as monopoly power in electricity
markets and regulation and deregulation in such markets will also be discussed. Finally, it deals with
issues relating to energy security and the effect of energy use on the environment and climate change.

Group & Type Day/Time Index No.
LEC1 Wednesday / 0930 - 1130 -
T1 Tuesday / 1030 - 1130 18013/18009
T2 Tuesday / 1130 - 1230 18014/18010
T3 Tuesday / 1230 - 1330 18015/18011
T4 Tuesday / 1330 - 1430 18016/18012



HE4002 Advanced Macroeconomics [Back]
Pre-requisite: HE2001/HE2002
Lecturer/s: Assistant Professor Tang Yang

The course aims to give students an overview of the field of macroeconomics using models and
techniques to gain insights into important issues in macroeconomics. It covers issues in economic
growth such as why some countries are rich while others are poor, what accounts for the increases in
income over time and why some countries experience economic growth while others experience
economic stagnation. It also covers issues such as the sources of economic booms and recessions and of
inflation and unemployment. In the discussions of growth, inflation and unemployment, competing
theories will be considered and the impact of government policies will be assessed.

Group & Type Day/Time Index No.
SEM1 Wednesday / 0930 - 1230 18022
SEM2 Friday / 1430-1730 18023


HE4005 Growth Theory and Empirics [Back]
Pre-requisite: HE2001 and HE2002
Lecturer/s: Visiting Associate Professor James Ang

The course aims to equip students with analytical tools used in various economic growth models. The
basic Solow Model and the Ramsey Model will be presented, followed by models with product variety,
product quality, technology diffusion, and human capital. Selected topics on income inequality, social
mobility, institution, natural resources, unemployment, migration, finance, and others in relation to
growth theory will be examined. Recent empirical studies on economic growth will be discussed and
assessed.
Group & Type Day/Time Index No.
LEC1 Monday / 1130 - 1330 -
TUT1 Monday / 1030 - 1130 18024
TUT2 Monday / 1330 - 1430 18025


HE4010 Singapore Economy in a Globalized World [Back]
Pre-requisite: HE2001 and HE2002
Lecturer/s: Dr Sng Hui Ying

This is a capstone course designed for final year economics students. This course is a study of Singapore
economic policies - their rationale, their design and what they have achieved. The topics will include
exchange rate, privatization and competition, manpower and labour market, industrial economics, and
monetary and fiscal policies. The objective is to provide final year economics undergraduates with
greater insights into the policies that have shaped Singapore's economic growth and to be engaged in a
discussion of these policies. It will be unique in drawing upon the expertise of adjunct staff who have
been, and/or are involved in making policy and of staff members who have worked extensively in the
area, and on senior government policy and decision-makers.

Group & Type Day/Time Index No.
LEC1 Wednesday / 1230 - 1430 -
T1 Thursday / 0930 - 1130 18026
T2 Thursday / 1130 - 1330 18027
T3 Thursday / 1430 - 1630 18028


HE4013 Experimental Economics [Back]
Pre-requisite: HE2001
Lecturer/s: Assistant Professor He Taisen

This course introduces the methodology of experimental economics and its application to specific topics.
The main themes are: Designing economic experiments; Conducting economic experiments; Analysing
experimental data; Applications to time preferences, risk preferences, and social preferences. Students
will be required to develop their own research idea, design an appropriate experiment, and implement
this experiment.

Group & Type Day/Time Index No.
LEC1 Monday / 0930 - 1130 -
T1 Monday / 1230 - 1430 18029
T2 Monday / 1430 - 1630 18030


HE4015 Personnel Economics [Back]
Pre-requisite: HE201/HE2001
Lecturer/s: Assistant Professor Chen Xiaoping

Personnel Economics is the application of economic and mathematical approaches and econometric and
statistical methods to traditional topics in the study of human resources management. Compared to the
standard labor economics courses, this course focuses more on the internal labor market within firms.
This includes topics such as compensation, turnover, incentives, and compensation that are inherently
economic, as well as those that do not at first appear to be economic topics, such as norms, teamwork,
worker empowerment, and peer relationships. It has become a rapid developing research field since its
birth and, as a course, has been taught in many top universities and MBA programs. The current course
is a general introduction to this emerging field of researches and the human resource management in
practice. We analyze the efficient allocation and motivation of employees as well as their development
of skills within a company. We discuss recruiting mechanisms, training strategies and efficient
compensation schemes. The course also has a focus on recent empirical evidences within the field of
personnel economics.

Group & Type Day/Time Index No.
LEC1 Friday / 0930 - 1130 -
T1 Friday / 1330 - 1530 18031
T2 Friday / 1530 - 1730 18032



HE4017 Monetary Economics [Back]
Pre-requisite: HE1003 & HE2001/HE201 & HE2002/HE202
Lecturer/s: Assistant Professor Kang Minwook

The course will start with a simple model of money, the overlapping generations model where money is
a store of value. The fundamentals of the demand for fiat money, inflation, the demand deposit, bank
runs and the role of central banking are examined. Then, we will study money interaction with other
financial assets and the real effects of money on output and national account.

Group & Type Day/Time Index No.
LEC1 Tuesday / 0930 - 1130 -
T1 Tuesday / 1230 - 1430 18033
T2 Tuesday / 1430 - 1630 18034


HE4020 Econometric Time Series Analysis [Back]
Pre-requisite: HE3021
Lecturer/s: Associate Professor Low Chan Kee

This course provides an introduction to econometric time series techniques that are widely used in
analyzing economic data. The course will meet the needs of students who plan more advanced studies
in this area. Students are instructed on the econometric time series techniques that can be used for
empirical economic studies, as well as to analyze financial time series. Topics covered include stationary
time-series models, trends and volatility modeling, models for time-varying volatility, univariate
processes with unit roots, multiequation time-series models, cointegration and the error-correction
models.

Group & Type Day/Time Index No.
SEM1 Tuesday / 1430 - 1730 18035