1 Jointly offered by Departments of Mathematics and Economics

2 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 of economics and social science.

3 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 or management science.

4 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.

5 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.

6 Apportionment of legislature seats based on populations of districts

7 Method of Greatest Remainder – Favoring districts with larger population Order the remainder q i   q i , and allocate, one each, to the districts having the largest fractional remainders. Integer programming problem.

8 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 at 299 seats and at 300 seats. Texas and Illinois increased their quotas from and to and , respectively.

9 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).

10 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.

11 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.

12 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?

13 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

14 Key components in the curriculum Subject area No. of courses Mathematics 8 Economics8 Humanities and Social Science4 Business1 Computer Science1 Language2 Free electives3

15 Major Program Requirements Core Courses MATH 101Multivariate Calculus[3-1-0:4] MATH 111Linear Algebra [3-1-0:4] MATH 201Introduction to Analysis[3-1-0:4] ECON 198Microeconomic theory I[3-1-0:4] ECON 199Macroeconomic theory I[3-1-0:4]

16 Required Courses MATH 241Probability[3-1-0:4] MATH 301Real Analysis[3-1-0:4] ECON 200Microeconomic theory II[3-1-0:4] ECON 201Macroeconomic theory II[3-1-0:4] ECON 233Introduction to Econometrics[3-1-0:4]

17 Elective Courses Three Mathematics electives are chosen at the 300-level or above. Some recommended Mathematics electives are MATH310Game Theory [3-1-0:4] MATH341Stochastic Modeling[3-1-0:4] MATH362Fundamentals of Mathematical Finance[3-1-0:4] Three Economics electives are chosen at the 300-level or above [1].

18 General Education Requirements Electives must be selected from among those general education courses that are listed under the section “Designated General Education Courses”.Minimum Elective TypesNumber of Course Credits ________________________________________________________________ GEE (B&M)Business and Management13 General Education Elective GEE (ENGG)Engineering General Education Elective13 GEE (H&SS)Humanities and Social Science 4 12 General Education Elective

19 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 191 Honors 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

20 COURSE IN LANGUAGE FOR BUSINESS LABU 101Business 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 201Business 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

21 Admissionchannels 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

22 For more details, please visit the program web page at