Policy Dialogue Series 2023-24
Check out our Policy Dialogue Series organised in conjunction with EdUHK. Topical sessions tackling Hong Kong's economic positioning with regards to China and the world. Hosted by the HKUST Division of Public Policy and the EdUHK Department of Social Sciences and Policy Studies.
HKUST Inter-University Public Policy Case Competition 2024
The HKUST Inter-University Public Policy Case Competition is a flagship event at the Division of Public Policy of HKUST. The Competition aims to provide students with an opportunity to analyze pressing public policy issues and recommend practical solutions to policy makers. The inaugural session was successfully launched in Spring 2019, followed by the second session in Spring 2021.
Seminar by Prof. Helena Chytilova
The concept of money illusion, once largely dismissed by mainstream economics, has regained prominence through recent developments in behavioral economics. It affects a wide range of markets, including financial, housing, labor, and consumption markets, as well as overall ability of firms to coordinate its prices in markets with significant repercussions. Despite several efforts by central banks and other institutions to raise economic literacy, money illusion persists, influencing decision-making in ways that challenge the assumptions of rational expectations. This research leverages experimental economics to investigate whether economic education can reduce the direct and especially indirect effects of money illusion. Recent studies, including those by Fehr and Tyran (2001), have demonstrated how money illusion can amplify coordination failures and cause long-lasting deviations from economic equilibrium, particularly in response to monetary shocks. In our research we go even further and examine whether economic literacy under certain conditions mitigates this phenomenon. Our results can bring more light into whether well-educated individuals are subject to money illusion and whether they struggle to coordinate effectively in an environment of nominal rigidities or not. These findings could either confirm or refute predictions of New Keynesian models, particularly regarding the short-run nonneutrality of money, are reinforced by the persistence of money illusion. Furthermore, the presence of money illusion in multiple markets contributes to a broader, aggregate-level intensification of economic challenges, suggesting that its impact remains substantial despite increasing efforts to educate the public.
Programs
Master of Public Policy
Taught Postgraduate Programs
An interdisciplinary program equips students with knowledge of the full impact of science and technology innovations and professional skills in formulating and implementing innovative solutions to current and emerging global challenges
Master of Public Management
Taught Postgraduate Programs
The MPM program focuses on the managerial and leadership challenges in the public sector and equips students with interdisciplinary perspectives needed for a successful career in the public sector or organizations that work with governments
MPhil / PhD in Public Policy
Research Postgraduate Program
Provides rigorous training in public policy research to academically outstanding students aspiring to pursue a career in policy research and teaching
Research
Case Development Program
The Case Development Program is a pioneering initiative established in Fall 2017 to promote the case pedagogy in public policy education. The Program develops teaching cases which address pressing public policy issues in Hong Kong and Mainland China. The policy areas revolve mainly around four research clusters – science, technology and innovation policy; environmental policy and sustainability; social changes and policy; and China’s development policy.
