MASTERY ECONOMICS

PAPER II & DRQ COURSE

* We come; We see; We conquered. *

Learning Focus:
1. DSE ECONOMICS Mode of assessment P.2
DSE 經濟考核方式
2. Remarks on Long Question Answering flow P.3
關於長問答流程的備註

3. Question types of DSE ECONOMICS PAPER II P.4

DSE 經濟試卷 II 題型
4. S4/5 Studying Timeline P.6

5. Studying Tips P.15

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1. DSE ECONOMICS | Mode of assessment

HKDSE:
Component Weighting Duration
Public Paper 1 Multiple-choice questions will be set on the compulsory part of 1 hour
Examination the curriculum. All questions are compulsory. 30%

Paper 2 Section A: Short questions will be set on the compulsory part of

the curriculum. All questions are compulsory. 26%

Section B: Structured/essay-type/data response questions will be

set on the compulsory part of the curriculum. All questions are
35% 2 hour 30
compulsory.
minutes

Section C: Structured/essay-type questions will be set on the

elective parts of the curriculum. Candidates are only required to
9%
attempt the questions from one of the two elective parts.

部分 比重 時間

公開 卷一 多項選擇題。考核範圍：必修部分。全部試題均須 1 小時
考試 作答。 30%

卷二 甲部：短題目。考核範圍：必修部分。全部試題均須作答。
26%

乙部： 結構/文章式/資料回應試題。考核範圍：必修部分。
全部試題均須作答。 35% 2 小時 30
分

丙部： 結構/文章式試題。考核範圍：選修單元部
分。考生只須從兩個選修單元中選取一個作答。 9%

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2. remarks on Long Question Answering flow
Micro-economics Macro-economics

Ch1 Basic Economy Concept Ch13 National Income Accounting

基本經濟概念 國民收入計算(本地生產總值)

Ch2 Demand and Supply Ch14 Unemployment, Inflation and Business Cycle
需求與供應 失業、通貨膨脹、經濟週期
Ch3 Elasticity Ch15 Aggregate Demand and Aggregate Supply
彈性 總需求與總供應
Ch4 Market Intervention Ch16 Fiscal Policy
市場干預 財政政策
Ch5 Production and Division of Labour Ch17 Money and Banking
生產與分工 貨幣與銀行

Ch6 Factor of Production Ch18 Money Supply and Deposit Creation

生產要素 貨幣供應與存款創造
Ch7 Forms of Business Ownership Ch19 Money Market
廠商的類型 貨幣市場

Ch8 The Growth of Firms and Market Structure Ch20 Monetary Policy and QTM
廠商的擴張與合併 貨幣政策和貨幣數量論（QTM）
Ch9 Production in Long Run and Short Run Ch21 International Tarde and Trade Barriers
長期與短期生產（邊際收益遞減定律與規模經濟） 自由貿易和貿易壁壘

Ch10 Consumer Surplus and Producer Surplus, Profit Ch22 Exchange Rate and BOP
Maximizing and Output Determination 匯率和國際收支平衡表 (BOP)
消費者盈餘和生產者盈餘、利潤最大化和產出確定
Ch11 Efficiency and Externality
效率和界外效應

Ch12 Equity and the role of government

公平和政府職責

à Aim 4

1. 65% (Focus: Ch1, 5-9, Ch12, Ch18, Ch21, Ch13-14)

à Aim 5

1. 80% (Option forgone: Ch19, Ch21, Ch10)

à Aim 5* / 5**

1. 85% & 91% (NONE)

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3. Question types of DSE ECONOMICS PAPER II
In general, the question type of economics in paper II exam can be categorized into two types:

A. Formulaic question

§ Most of the questions in HKCEE are formulaic questions and takes up a large proportion in HKDSE question.

§ This type of question is formulaic because the marking scheme are less controversial and there is a set of answering approach

to be followed.

§ E.g.: Unemployment rate, AD-AS, opportunity cost, money creation, trade, topics in ‘Firms and Production’, law of diminishing

marginal returns…

一般來說，經濟學 Paper II 考試的題型可分為兩類：

A. 公式化問題

§ 中學會考的題目大多是公式題，在文憑試題中佔有很大比例。

§ 這類題比較公式化，因為評分方案爭議較小，有一套作答方法可循。

§ 例如：失業率、AD-AS、機會成本、存款創造、貿易、企業與生產、邊際收益遞減…

CE2011 LQ11
11. In 2010, there was a boom in the property market of Hong Kong.
(a) Hot money flowed into the property market. On the other hand, the government put more land up for public auctions in
order to curb the overheating of the property market. With the aid of a supply-demand diagram, explain under what
condition the price of land sold in the public auctions would increase. (6)
(b) A local property agency opened more branch offices when expanding its business. Name this type of expansion and give
TWO motives for it. (3)
(c) Explain how the government revenue generated from direct taxes would be affected when there is a boom in the property
market. (3)
(d) The government imposes a special stamp duty of 15% on the resale value of residential properties which are resold
within 6 months of their original purchase. The aim is to curb speculation in the property market. Explain whether this
special stamp duty is a progressive, regressive, or proportional tax. (3)
(e) Trading of second-hand properties was very active and the total value of these transaction rose. Explain whether Hong
Kong’s GDP will be affected by these transactions. (2)
11. 2010 年，香港房地產市場蓬勃發展。
(a) 熱錢流入樓市。另一方面，政府將更多土地進行公開拍賣，以遏制房地產市場過熱。借助供需圖，解釋在什麼
情況下公開拍賣中出售的土地價格會上漲。 (6)
(b) 當地一家地產代理公司在拓展業務時增設了分公司。說出這種類型的擴張並給出它的兩個動機。 (3)
(c) 解釋當房地產市場繁榮時，直接稅產生的政府收入將受到怎樣的影響。 (3)
(d) 政府對最初購買後 6 個月內轉售的住宅物業的轉售價值徵收 15%的特別印花稅。目的是抑制房地產市場的投
機行為。解釋這種特殊印花稅是累進稅、累退稅還是比例稅。 (3)
(e) 二手房交易十分活躍，交易總額上升。解釋香港的本地生產總值是否會受到這些交易的影響。 (2)

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3. Question types of DSE ECONOMICS PAPER II
B. Unformulaic question

§ This type of question pays much attention to test the students’ ability to use economic concepts/theories and adapt them into

different scenario or policies instead of simply use a ‘common formula’ to answer some questions.

à Similar to Liberal Studies but economic theories / terms have to be applied precisely and wisely.

§ They can be appeared in short question (about 3 - 4 marks) or even long question (in essay-form question)

§ There are no ‘keywords’ (eg: money supply, mobility, cost) for you to answer the questions, you are required to think the points

and answering approach yourself, hence, there is high flexibility of answering skills.

B. 非公式化問題

§ 此類題著重於檢視學生運用經濟概念/理論並將其應用到不同情境或政策中的能力，而不是簡單地用「通用公式」來

回答一些問題。

§ 與通識教育類似，但必須準確且明智地應用經濟理論 / 術語。

§ 它們可以出現在短問題（大約 3-4 分）甚至長問題（論文形式的問題）中。

§ 回答問題沒有「關鍵字」
（例如：貨幣供應量、流動性、成本）
，需要你自己思考要點和回答方式，因此回答技巧具有

很高的彈性。

DSE2019 LQ5
5. Wong’s family and Chan’s family live next door to each other. State ONE economic concept involved in each of following
arrangements and explain why the arrangement is beneficial to both families,
(a) Mr. Wong teaches the children from both families English while Mrs. Chan teaches them Japanese. (3)
(b) On Christmas Eve, the two families buy food ingredients and cook together instead of buying and cooking separately.
(3)
DSE2019 LQ12
(aii) Explain why the US may NOT succeed in reducing its trade deficits with China. (3)

DSE2019 LQ5
5. 黃家和陳家住在隔壁。陳述以下每項安排所涉及的一個經濟概念，並解釋為什麼該安排對雙方家庭都有利，
(a) 黃先生教兩個家庭的孩子英語，而陳太則教他們日語。 (3)
(b) 平安夜，兩家人一起購買食材並做飯，而不是分別購買和做飯。 (3)

DSE2019 LQ12
(aii) 解釋為何美國可能無法成功減少對華貿易逆差。 (3)

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 Timeline / Study schedule

Week 1 Ch1 Basic Economy Concept Ch1 基本經濟概念

(i) Scarcity (i) 稀少性
(ii) Free Goods and Economics Goods (ii) 免費物品、經濟物品
(iii) Opportunity Cost (iii) 機會成本
(iv) More About Interest and Opportunity Cost (iv) 利息、機會成本
(v) The Three Basic Economic Problem (v) 三個基本經濟學問題
(vi) Different Economic Systems (vi) 不同的經濟制度 / 經濟體系
(vii) Positive, Normative Statement and Tautology (vii) 實證性陳述、規範性陳述、套套邏輯

Week 2 Ch5 Production and Division of Labour Ch5 生產與分工

(i) Classification of Output (i) 產出的分類
(ii) Types of Production (ii) 生產的類型
(iii) Advantage, Disadvantage, Limitation of (iii) 分工的好處, 壞處, 限制
Division of Labour

Ch6 Factor of Production Ch6 生產要素

(i) Factors of Production – Labor (i) 生產要素 - 勞力
(ii) Factor Affecting Labor Supply (ii) 影響勞力供應的因素
(iii) Factor Affecting Labor Productivity (iii) 影響平均勞動生產力的因素
(iv) Methods of Wage Payment (Advantage and (iv) 工資支付方式 (優缺點)
Disadvantage)
(v) Mobility of Labor (v) 職業流動性
(vi) Factor of Production – Capital (vi) 生產要素 - 資本
(vii) Factor of Production – Land (vii) 生產要素 - 土地
(viii) Factor of Production – Entrepreneurship (viii) 生產要素 - 企業家職能
Week 3 Ch7 Forms of Business Ownership + Ch7 廠商的類型
(i) Public Enterprise and Private Enterprise (i) 公營企業及私營企業
(ii) Features of Public Enterprise (ii) 公營及私營企業的特點
(iii) More About Share and Bonds (iii) 有關股票和債券的更多信息

Ch8 The Growth of Firms and Market Structure Ch8 廠商的擴張與合併

(i) The Growth of Firm (i) 企業的擴張
(ii) Motives of Expansion / Integration (ii) 擴張 / 合併的動機
(iii) Competition and Market Structure (iii) 競爭與市場結構
(iv) Perfectly Competitive Market (iv) 完全競爭市場
(v) Price Differentiation (v) 價格差異化

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Week 4 Ch9 Production in Long Run and Short Run Ch9 長期與短期生產（邊際收益遞減定律與規模經濟）
(i) Production in Long Run and Short Run (i) 長期生產與短期生產
(ii) Law of Diminishing Marginal Return (ii) 邊際回報遞減定律
(iii) Internal & External / Economies & (iii) 內部 & 外部 / 規模經濟 & 規模負經濟
Diseconomies of Scale
Week 5 Ch13 National Income Accounting Ch13 國民收入計算(本地生產總值)
(i) Approaches of measuring GDP & Circular (i) 本地生產總值的計算方法及循環流程圖
Flow Model
(ii) Expenditure Approach (ii) 支出面計算法
(iii) Production Approach / Value-added (iii) 生產面 ＆ 增值面計算法
Approach
(iv) Factor Cost and Market Price (iv) 要素成本 ＆ 市場價格
(v) Gross National Income (GNI) (v) 國民收入
(vi) Real GDP vs Nominal GDP (vi) 實質 GDP VS 名義 GDP
(vii) Per-capita GDP (vii) 人均 GDP
(viii) Limitation of using National Income (viii) 運用國民收入數據的限制
Statistics
(ix) Magnitude of GDP (ix) GDP 的量化

Week 6 Ch14 Unemployment, Inflation & Business Cycle Ch14 失業、通貨膨脹、經濟週期

(i) Employment & Unemployment (i) 就業 & 失業
(ii) Formula of Employment & Unemployment (ii) 就業 & 失業公式
(iii) Cost of Unemployment (iii) 失業的成本
(iv) Inflation & Deflation (iv) 通脹 & 通縮
(v) Disinflation (v) 通脹放緩
(vi) Indicators Measuring Change in Price Level (vi) 量度物價水平改變的指標
(vii) Effect of Inflation (vii) 通脹的影響
(viii) Fisher Equation (viii) 費沙方程式
(ix) Business Cycle (ix) 經濟週期

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Week 7 Ch15 Aggregate Demand and Aggregate Supply Ch15 總需求與總供應
(i) Shape of Aggregate Demand Curve (i) 總需求曲線的形狀
(ii) Shape of Aggregate Supply Curve (ii) 總供應曲線的形狀
(iii) Factors Affecting Long Run Aggregate (iii) 影響長期總供應的因素
Supply
(iv) Factors Affecting Short Run Aggregate (iv) 影響短期總供應的因素
Supply
(v) Factors Affecting Aggregate Demand (v) 影響總需求的因素
(vi) Change in AD, SRAS & LRAS (vi) 總需求、短期總供應和長期總供應的變化
(vii) Deflationary Gap & Inflationary Gap (vii) 通縮差距和通脹差距

Week 8 Ch16 Fiscal Policy Ch16 財政政策

(i) Major Taxation in Hong Kong (i) 香港的主要稅項
(ii) Classification of Tax (ii) 稅種分類
(iii) Taxation Principle (iii) 徵稅原則
(iv) Change in Tax Rate & Tax Revenue (iv) 稅率和稅收收入的變化
(v) Public Expenditure (v) 公共開支
(vi) Fiscal Policy and The Budget (vi) 財政政策和財政預算
(vii) Fiscal Policy Affecting Income Distribution (vii) 影響收入分配的財政政策

Week 9 Ch2 Demand and Supply Ch2 需求與供應

(i) Law of Demand (i) 需求定律
(ii) Law of Supply (ii) 供應定律
(iii) Market Equilibrium & Market Disequilibrium (iii) 市場均衡與市場失衡
(iv) Relative Price (iv) 相對價格
(v) Factors Affecting Demand (v) 影響需求的因素
(vi) Factor Affecting Supply (vi) 影響供應的因素
(vii) Change in Demand & Supply (vii) 需求與供應的改變
(viii) Fixed Supply (viii) 固定的供應

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Week 10 Ch3 Elasticity Ch3 彈性
(i) Price Elasticity of Demand (i) 需求價格彈性
(ii) Calculation of Price Elasticity of Demand (ii) 需求價格彈性的計算
(iii) Diagram showing Different Elasticity of (iii) 顯示不同需求彈性的圖表
Demand
(iv) Factors Affecting Elasticity of Demand (iv) 影響需求彈性的因素
(v) Price Elasticity of Supplied (v) 供應價格彈性
(vi) Calculation of Price Elasticity of Supply (vi) 供應價格彈性的計算
(vii) Diagram showing Different Elasticity of (vii) 顯示不同供應彈性的圖表
Supply
(viii) Factors Affecting Elasticity of Supply (viii) 影響供應彈性的因素

Week 11 Ch4 Market Intervention Ch4 市場干預

(i) Price Ceiling (i) 價格上限
(ii) Price Floor (ii) 價格下限
(iii) Quota (iii) 配額
(iv) Per-unit tax (iv) 從量稅
(v) Per-unit Subsidy (v) 從量津貼 / 從量補貼
(vi) Market Intervention Cross Topic Elasticity (vi) 市場干預彈性跨課題題型

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Week 12 Ch10 Consumer Surplus and Producer Surplus, Ch10 消費者盈餘和生產者盈餘、利潤最大化和產出確定
Profit Maximizing and Output Determination
§ Marginal Benefit & Marginal Supply Curve § 邊際利益和邊際成本曲線
§ Profit Maximization & Output Determination § 利潤最大化和產出決定
§ Objectives other than Profit Maximizing § 利潤最大化以外的目標
§ Total Social Surplus & Marginal Social § 總社會盈餘和邊際社會盈餘
Surplus
§ Change in Total Social Surplus, Consumer § 總社會盈餘，消費者盈餘和生產者盈餘的變化
Surplus and Producer Surplus

Ch11 Efficiency and Externality Ch11 效率和界外效應

§ Underproduction and Overproduction § 生產不足和生產過剩
§ Inefficiency due to Market Intervention § 市場干預導致無效率
§ Negative externality § 負面界外效應
§ Positive externality § 正面界外效應
§ Solution to Externalities § 界外效應的解決方案
§ Limitation of Resolving Externalities § 解決界外效應的局限
§ Function of Price § 價格的作用
Week 13 Ch12 Equity and the role of government Ch12 公平和政府職責
§ Lorenz Curve § 洛倫茨曲線
§ Gini Coefficient § 堅尼系數
§ Limitation of Measuring Income Inequality § 衡量收入不平等的局限
§ Source of Income Inequality § 收入不平等的根源
§ Equalizing Income § 收入均等化
§ Equalizing Opportunity § 機會均等化

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 May

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 June

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 Studying Tips:

1. Logical chain 思維邏輯鏈:

2. Formulation 問題拆解公式化:

3. SP Theory SP 理論

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NOTES

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