Hong Kong Economics Program Update for Winter 2020
In light of recent events in Hong Kong and the potential impact on security, housing, and transportation, the University of Chicago will be relocating the Winter 2020 Hong Kong Economics program to its Center in Paris. Dean of the College John Boyer, Economics program faculty, the Yuen Campus staff, and other University leadership consider relocation necessary to ensure the students’ experience will not be disrupted.
The University of Chicago remains committed to the research, education, academic collaborations, and community partnerships that our Yuen Campus in Hong Kong offers and will continue planning for the College’s Hong Kong study abroad programs in AY 2020-21 and beyond.
The Francis and Rose Yuen Hong Kong: Economics Program
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 ECON 20000 – 20100 – 20200 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.
Students who are interested in working with Career Advancement to be placed in an internship during the summer preceding the program (Summer 2020, prior to the Winter 2021 program) are required to submit their program application by the Early Application Deadline.
Optional Jeff Metcalf Summer Internships | Hong Kong: Economics Program
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.
Campus in Hong Kong
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.
Credits and Registration
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.
Winter 2021 Faculty and Courses
ECON 23000: Money and Banking – Kotaro Yoshida
ECON 21800: Experimental Economics – Min Sok Lee
ECON 25000: Introduction to Finance – Bong Geun Choi, Asst. Professor at the City University of Hong Kong (PhD University of Chicago, Economics)
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.
Eligibility and Application
The Hong Kong: Economics study abroad program is open to University of Chicago undergraduate students who will have completed the Economics core courses in the major by the time the program begins (that is, ECON 20000 – 20100 – 20200). 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, personal statement, and academic recommendation. 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 2021 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 2020 or Summer 2021. Students who are interested in an internship in Summer 2020 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.
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 “2019-20 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.
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 2020-21 year are listed below:
Winter tuition: as set by the Bursar’s Office
Study abroad administrative fee: $675
Hong Kong program fee: $4,950
|Program fee includes:
||Out-of-pocket expenses include:
|Accommodation (including breakfast)
||Round-trip airfare to and from the program site
||Transportation on site
|emergency travel insurance (ISOS)
||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 in it, please contact Lauren Schneider.
To discuss the optional Jeff Metcalf summer internship component, please contact Chiara Montanari.