Economics is a social science that deals with the allocation of resources within and across firms, households, and other decision-making units. It also deals with the functional and personal distribution of income. As such, it covers the operation and organization of firms and industries, the determination of prices for factors and products, as well as the determinants of economic growth and development. It analyzes production, consumption, investment, employment, trade, and government interventions including fiscal, monetary, and regulatory policies. Thus, both micro- and macro-economic analyses are essential in the decision making of households and governments.

New Faculty member   Yuk-fai FONG, Associate Professor   Wooyoung LIM, Assistant Professor   Albert, F. PARK, Professor   Hamid SABOURIAN, Visiting Professor      A New Worldwide Ranking of Economics Departments In a study of publications in econometrics published by Baltagi in Econometric Theory (2003), UST was ranked 17th in the world for its publications in three core econometrics journals and 26th in all theoretical econometrics publications.    A New Worldwide Ranking of Economics Departments According to a study commissioned by the European Economics Association, HKUST is again ranked first in Asia!  (HKUST #37, Cambridge University #39, Oxford University #40, Chinese University of Hong Kong #84, University of Hong Kong #164)   HKUST ranked  No. 1 in East Asia According to Jin and Yau (1999) in Economic Inquiry, 37 (4), 706-710: Jin-Yau (1999).   Degree programs: BBA in Economics, BSc in Economics,  BSc in Mathematics and Economics; MSc in Economics ;  PhD in Economics   Center for Economic Development Center for Experimental Business Research