Hong Kong: Economics

The Francis and Rose Yuen Hong Kong: Economics Program
Hong Kong street scene at night with neon signs and the blur of people passing by

Program Term:

Winter

Language Requirement:

None

Coordinator:

 Lauren Schneider

Application Deadlines:

Early:

Final:

The College’s Winter Quarter program in Hong Kong will focus on Economics. The program is designed for students who have completed the core courses in the major and want to learn further the methods and applications of economics in specific areas such as experimental economics, money and banking, and finance/strategic thinking.

    Students take three Economics courses in succession, all of which satisfy the electives requirements in the standard Economics track and the methods and electives requirements in the Business Economics track. Participants will also take a language course, which runs at a normal pace throughout the quarter and is designed to help students connect with Chinese culture.

    In addition to classroom instruction, the program will also feature a number of excursions to Hong Kong public institutions as well as private businesses and banks to complement the academic study and provide networking opportunities for professional development. Long considered one of the most important crossroads of the Asia Pacific region, Hong Kong is a modern mega-metropolis and a flourishing cultural, economic, and geopolitical nexus for people and populations from across the world. As a city known for its “East meets West” cosmopolitanism, Hong Kong offers numerous opportunities to engage with international economies, international banking and finance, and multinational corporations. It is assumed that students will also use their free time to explore this diverse city apart from program-organized outings.

    As a prerequisite to this program, students must have completed the Economics core courses in either the Economics major Standard Track OR the Economics Business or Data Science Tracks prior to participation. Students who intend to complete the courses and are in the middle of the sequence at the time of application may be admitted on the condition of successful completion of these courses prior to enrollment. To confirm your eligibility for the program, please reach out to the Faculty Directors of the Economics program: Professor Victor Lima (vlima@uchicago.edu) and Professor Kotaro Yoshida (yoshidak@uchicago.edu).

    Students who are interested in working with Career Advancement to be placed in an internship during the summer preceding the program (Summer 2021, prior to the Winter 2022 program) are required to submit their program application by the Early Application Deadline.

    NOTE: Due to uncertainty surrounding the COVID-19 pandemic and international travel, it may not be possible to support internships in certain locations for Summer 2021.

    In cooperation with Career Advancement, the Hong Kong: Economics program will also offer participating students the opportunity to pursue a summer internship in Greater China. This component of the program will be facilitated by Career Advancement, and students who secure an internship will be part of the Jeff Metcalf Internship Program.

    These professional opportunities will give students the chance to enhance and strengthen professional skills, deepen their understanding of the global economy, and learn about the local workplace culture. As part of the Jeff Metcalf Internship Program, these internships last 8-10 weeks, and interns receive a stipend amount between $2,500 and $5,000. The amount will vary depending on the length of the internship, the location, and the level of support the employer provides. Internship possibilities span a wide range of industries and include organizations in business, financial services, tech, arts, and media, as well as charities and non-profits. Students will have access to internships in several cities throughout Greater China; internship locations may include Beijing, Hong Kong, Shanghai, Shenzhen, and Taipei.

    See below for more information about the Jeff Metcalf Summer Internship Component and Application Process.

    The College’s Hong Kong: Economics program is based at The Hong Kong Jockey Club University of Chicago Academic Complex | The University of Chicago Francis and Rose Yuen Campus in Hong Kong. Located on Mount Davis, the campus in Hong Kong features classrooms, offices for faculty, student gathering spaces, computer facilities, and conference areas. For participants in Chicago’s programs, the campus in Hong Kong provides a focus for academic activities, a central meeting place, and a continuing Chicago “presence” within one of the most dynamic cities in Asia and the world.

    Students in the Hong Kong: Economics program will be housed in the Robert Black College guest house on the campus of the University of Hong Kong. Living on the campus of the University of Hong Kong enables students to take advantage of the campus’s resources and live alongside local students and faculty. The location is convenient to Hong Kong’s Central District, and students will be proximate to the HKU MTR station and other public transportation options. Students will normally be housed in double rooms with a bathroom, and they will also have access to the Robert Black College lounge, library, and other on-site facilities. Breakfast is provided daily in the Robert Black College dining room.

    Students who choose to participate in the Metcalf internship in Hong Kong are responsible for securing their own housing. Career Advancement provides a housing guide, where you can find a list of some possible housing options in Hong Kong.

    Participants in the Hong Kong: Economics program remain registered as full-time students in the College. They take and receive credit for four courses: three economics courses (descriptions below) and the language class.

    The following courses will be offered in Winter 2022:

    • ECON 13000/23000: (Introduction to) Money and Banking – Kotaro Yoshida
    • ECON 11800/21800: (Introduction to) Experimental Economics – Min Sok Lee
    • ECON 14000/24000: (Introduction to) Labor Economics – Julio Elías

    *Students completing the Business Specialization track in the Economics major will normally be registered for the 10000-level version of the courses. Students completing the Standard or Data Science tracks in the Economics major will normally be registered for the 20000-level version of the courses.

    These courses will satisfy elective requirements in the standard Economics major track OR the methods and electives requirements of the Business Economics major track.

    The language course (Cantonese or Mandarin) will normally count as an elective. Course titles, units of credits, and grades are placed on the College transcript.

    Faculty and course information is subject to change.

    The Hong Kong: Economics study abroad program is open to University of Chicago undergraduates who will have complete the Economics core courses in the appropriate track of their major by the time the program begins. Usually, this will be students in their third or fourth year of study. While the program stipulates no minimum grade-point average, an applicant’s transcript should demonstrate that they are a serious student who will make the most of this opportunity. Because the courses are taught in English, there is no language prerequisite. Applications from outside the University are not accepted.

    Each study abroad program application is examined on the basis of student’s scholastic record and personal statement. If you are interested in applying for this program please fill out the online application.

    Internship Application Process

    When submitting their application to the Winter 2022 Hong Kong: Economics study abroad program, students will have the option to express their interest in the internship component of the program and choose if they would like to be considered for an internship during Summer 2021 or Summer 2022. Students who are interested in an internship in Summer 2021 are required to submit their program application by the Early Application Deadline. Students interested in pursuing an internship in Greater China will be asked to submit a brief cover letter and share more details about their interests and career goals. Students will also be able to indicate their industry and location preferences. Career Advancement will make every effort to honor students’ choices, but internship offerings may vary considerably depending on the student’s desired industry and location.

    NOTE: Due to uncertainty surrounding the COVID-19 pandemic and international travel, it may not be possible to support internships in certain locations for Summer 2021.

    Internship Recruiting Timeline

    Recruiting timelines in Greater China vary. While some employers complete their recruiting as early as February, others may start recruiting as late as April. Career Advancement strongly encourages students to start their search process early and also to take advantage of the opportunities offered through UChicago’s Jeff Metcalf Internship Program and other substantive internships posted on UChicago Handshake. To view all Metcalf internship postings, students can search for the Handshake label “2020-21 metcalf internship” and sign up for Career Advancement listhosts.

    Internship Recruitment and Selection

    The resumes of students admitted to the Hong Kong: Economics program will be shared with employers in the Greater China region who express an interest in hiring UChicago undergraduates for summer internships. All students should expect to go through a recruiting and interviewing process and may be asked to submit additional application materials. All hiring decisions are made by employers, and Career Advancement cannot guarantee specific outcomes for the recruiting process. Students who would like to have their internship application materials reviewed by Career Advancement can schedule an appointment with a career adviser or stop by during walk-in hours: Monday – Friday, 3pm – 4:45pm at Ida Noyes Hall.

    Internship Eligibility

    The program is open to students who will be rising second-, third-, and fourth-years during the summer of their internships. To be eligible, students must be enrolled in the College. Students also need to be activated for Career Advancement’s selective experiential education and internship opportunities. To get activated, students need to have their resume reviewed by a Career Advancement adviser and sign a recruiting policy form. Students who are not activated can schedule an appointment with a Career Advancement adviser.

    Internship Offer Guidelines and Stipend Disbursement

    Career Advancement has established guidelines to assist students in navigating recruiting, professional conduct and communication. Students should read them carefully and keep them in mind throughout their recruiting process. UChicago asks employers to give students a minimum of 1 week to respond to all employment offers. Please keep in mind that a verbal or written offer acceptance is a commitment in good faith. If the student accept an offer, they will receive a stipend amount between $2,500 and $5,000. The amount will vary depending on the length of the internship, the location, and the level of support the employer provides. Students will receive communication from Career Advancement on how to claim their stipend.

    Study abroad students pay regular College tuition, a program fee and a nonrefundable study abroad administrative fee. The tuition and program fee are paid in conformity with the home campus payment schedule, and the nonrefundable study abroad administrative fee is submitted when accepting a place in a program. Precise figures for the Hong Kong: Economics program during the 2021–2022 year are listed below:

    Winter tuition: as set by the Bursar’s Office

    Study abroad administrative fee: $675

    Hong Kong program fee: $4,975

    Program fee includes:

    Out-of-pocket expenses include:

    • Round-trip airfare to and from the program site
    • Transportation on site
    • Meals
    • Course materials
    • Personal entertainment and travel
    • Communications (including cell phone usage)
    • Health insurance and upfront payments for care
    • Other miscellaneous expenses
       

    We estimate that program participants can spend in the range of $200 to $250 per week on meals and incidentals while on the program, though frugal students may spend less, and others could spend much more. Bear in mind that cost of living in Hong Kong can be relatively high and is substantially higher than the cost of living in Mainland China. While it is possible to live frugally, it is also possible to run short of money if you are unwary. It is therefore essential that you budget your funds prudently, apportioning your resources so that they may last for the duration of the program. If you are planning to travel before or after the program or on weekends, you should budget accordingly.

    Study abroad students retain their financial aid eligibility. For more information about financial aid resources, please see our Tuition, Fees, and Funding section.

    Students who are accepted into the Hong Kong: Economics study abroad program will apply in advance for a student visa in order to legally enter Hong Kong for the purpose of study. The Hong Kong Immigration Department retains sole control of the visa application process, and according to its guidelines for entry under the student visa scheme, “This entry arrangement does not apply to: […] nationals of Afghanistan, Cambodia, Cuba, Laos, Korea (Democratic People’s Republic of, [aka North Korea]), Nepal, and Vietnam.” Students who are citizens of these countries and interested in studying in Hong Kong should contact the Program Coordinator prior to application.

    Students who pursue the optional summer internship component may also need to apply for the appropriate visa. The type of visa will vary by internship location, the internship’s structure, and the student’s country of origin. Students will need to complete the application process themselves, but Career Advancement can provide guidance about the kinds of visas and documentation they will require.

    To discuss the Hong Kong: Economics study abroad program and the possibility of participating, please contact Lauren Schneider.

    To discuss the optional Jeff Metcalf summer internship component, please contact Chiara Montanari.