Our Curriculum
The curriculum framework and content are developed based on the Secondary 4 - 5 Economics curriculum implemented in 2003. This development involves a suitable restructuring of topics, broadening of coverage, and increased depth. Economics provides an interpretive framework for students, enabling them to view the world in a more systematic way. This approach equips learners with a range of analytical tools, helping them to comprehend realities better. The inclusion of some normative issues in the curriculum promotes empathy, sensitivity, and multi-perspective thinking among learners. This preparation enables students to more effectively meet future challenges.
Micro-economics
| Topic | Focus |
| Basic Economic Concepts | - Economics as a social science
- Circular flow of economic activities
- Scarcity, choice and opportunity cost
- Positive and normative statements
- Specialization and exchange
- The three basic economic problems
|
Firms and Production | - Types/stages of production
- Ownership of firms
- Types of goods and services produced
- Production and costs in the short run and long run
- Division of labour
- The objectives of firms
- Factors of production
|
| Market and Price | - Law of Demand
- Individual demand
- Market demand
- Individual supply
- Market supply
- Interaction between demand, supply and price
- Functions of prices
- Consumer and producer surplus
- Price elasticity of demand
- Price elasticity of 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
|
Macro-economics
| Topic | Focus |
| Measurement of Economic Performance | - National income
- General price level as measured by Consumer Price Index and implicit price deflator of GDP
- Unemployment and underemployment rates as measured in terms of the percentage of unemployed and underemployed persons in the labour force
- 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 supply
- Money demand
- Determination of interest rate in the money market
- Hong Kong as a financial centre
|
| Macroeconomic Problems and Policies | - Business cycles: a description of the short run fluctuations in real GDP around the long run trend (N.B. Theories of business cycles NOT required)
- Inflation and deflation
- Unemployment
- Fiscal policy
- Monetary policy
|
| International Trade and Finance | - Free trade and trade barriers
- Brief introduction to the balance of payments account
- Exchange rate
|
Elective Part 1
| Topic | Focus |
| Monopoly Pricing | - Simple monopoly pricing
- Price discrimination
|
| Anti-competitive Behaviours and Competition Policy | - Major forms of anti-competitive practices
- The impact of anti-competitive practices
- The Competition Ordinance in Hong Kong
|
Elective Part 2
| Topic | Focus |
| Extension of Trade Theory | - Illustration of comparative costs and gains from trade with the aid of production possibilities frontier (N.B. The use of indifference curve NOT required)
- Comparative advantage and its relation to globalization
|
| Economic Growth and Development | - Measurement of economic growth and development
- Factors affecting growth of an economy
- The desirability and costs of economic growth
|
