國立臺灣大學國家發展研究所 103 學年度第 1 學期課程綱要
課程資訊
課程名稱
金融政策專題
Seminar on Financial Policy
課程編號
全/半年
授課教師
上課時間
上課地點
341 U8450
半年
博士班核心能力
備註
02
必選
星期 2 第 5, 6 節
學分數
必/選修
開課系所
修課人數
國發 206
課程加選方式
3
A, F
以英文授課
碩士班核心能力
A, F
班次
邱鳳臨
國家發展研究所
30
課程大綱
課程目標
課程概述
An understanding of current financial policy in a global economy.
We explore the role of financial markets (such as those for bonds, stocks, and
foreign exchange), financial institutions (banks, insurance companies, mutual
funds, and so on) and financial policy in the economy. Financial markets and
institutions not only affect our everyday life but also involve huge flows of
funds throughout our economy, which in turn affect business profits, the
production of goods and services, and even the economic well-being of our
neighbor countries. The role of financial policy in the economy is explored by
examining the function of central bank, which is government authority in
charge of the country's financial policy.
關鍵字
Financial market; financial institution; economic well-being, financial policy
課程要求
This course requires student to read the assigned chapters and articles before class.
Office
Hours
參考書目
Text:
Tuesday 15:20~16:00
[1] Mishkin, Frederic S., The Economics of Money, Banking, and Financial
Markets, Ninth Edition, 2010, Pearson-Addison-Wesley.
[2] Mishkin, Frederic S., The Economics of Money, Banking, and Financial
Markets, Tenth Edition, 2013, Pearson-Addison-Wesley.
[3] Ritter, S., W. Silber & G. Udell, Principle of Money, Banking, and Financial
Markets, Twelfth Edition, 2009, Pearson-Addison-Wesley.
References:
Alhadeff, D. (1974). "Barriers to Bank Entry," Southern Economic Journal, 40,
580-603.
Arvind Krishnamurthy and Annette Vissing-Jørgensen (2011), "The Effects of
Quantitative Easing on Interest Rates: Channels and Implications for Policy
(PDF)," Brookings Papers on Economic Activity, Fall, pp. 215-65
Baumol, W. (1952). "The Transactions Demand for Cash: An Inventory Theoretic
Approach," Quarterly Journal of Economics, Vol. 66, pp. 545-556.
Bernett, W. E. Offenbacher, and P. Spindt, (1981). "New Concepts of Aggregate
Money," Journal of Finance, 36, pp. 487-505.
Berger, A., A. Kashyap, and J. Scalise, (1995). "The Transformation of the U. S.
Banking Industry: What a Long, Strange Trip It's Been," Brooking papers on
Economic activity, Vol. 2, pp. 55-201.
Blinder, Alan. 1996, “Central Banking in a Democracy,” Federal Reserve Bank of
Richmond, Economic Quarterly, Vol. 82-4, Fall, pp. 1-14.
Bordo, M. D. (1990). “The Lender of Last Resort: Alternative Views and Historical
Experience,” Federal Reserve Bank of Richmond, Economic Review, pp.
18-29.
Boyd J. and M. Gertler, (1994). "Are Banks Dead? Or Are the Reports Greatly
Exaggerated? in The Declining Role of Banking (Chicago: Federal Reserve
Bank of Chicago), pp. 85-117.
Charles Schwab (2013). “Outlook for 2013 Federal Reserve Policy,” Investing
Insights, pp. 4-6.
Dean, F. and M. J. Jacowski, (1989). "Trends in Banking Structure since the
Mid-1970s," Federal Reserve Bulletin.
Edward, F. and F. Mishkin, (1995). "The Decline of Traditional Banking:
Implications for Financial Stability and Regulatory Policy," Federal Reserve
Bank of New York Economic Policy Review, pp. 27-45.
Fama, E., (1981). "Short Term Interest Rates as Predictors of Inflation," American
Economic Review, 65, 269-282.
Friedman, M. (1956). "The Quantity of Money---A Restatement," Studies in the
Quantity Theory of Money, Chicago: University of Chicago Press.
Goodfriend, Marvin 2002, “Interest on Reserves and Monetary Policy,” Federal
Reserve Bank of New York, Economic Policy Review, May, pp. 77-84.
Goodhart, C. (1987). “Why Do Banks Need a Central Bank?” Oxford Economic
Papers, Vol. 39, No. 1, pp. 75-89.
Humpage, O. and J. McIntire 1996, “An Introduction to Currency Boards” Federal
Reserve Bank of Cleveland, Economic Commentary, pp. 1-11.
King, M (1999). “Challenge for Monetary Policy: New and Old,” in Challenge for
Monetary Policy, Federal Reserve Bank of Kansas City, pp. 11-57.
Kuttner, K. and P. Mosser, (2002). “The Monetary Transmission Mechanism: Some
Answers and Further Questions,” Federal Reserve Bank of New York,
Economic Policy Review, pp. 15-26.
Mishkin, F., (1981). "Monetary Policy and Long-Term Interest Rates," Journal of
Monetary Economics.
Mishkin, F., (1981). "The Real Interest Rate: An Empirical Investigation,"
Carnegie-Rochester Conference Series on Public Policy 15, pp. 151-200.
Schwartz, Anna J. 1993, “Currency Boards: Their Past, Present, and Possible
Future Role,” Carnegie-Rochester Conference Series on Public Policy, Vol. 39, pp.
147-187.
Sharpe, William F. (1963). "A Simplified Model for Portfolio Analysis".
Management Science 9 (2): 277–93.
Sharpe, William F. (1964). "Capital Asset Prices - A Theory of Market Equilibrium
Under Conditions of Risk". Journal of Finance XIX (3): 425–42.
Taylor, J. (1995). “The Monetary Transmission: An Empirical Framework,”
Journal of Economic Perspective,” Vol. 9, pp. 957-975.
評量方式
項目
No.
1
2
Mid-term exam
Final examination
週 次
百分比(%)
50%
50%
單元主題
Week 1
Introduction
Week 2
An Overview of Financial Markets
 Text [1] Ch. 2, Text [2] Ch. 3
Week 3
What is Money?
 Text [1] Ch. 3, Text [2] Ch. 2
Week 4
Week 5
Week 6
& Week 7
Week 8
Week 9
Week 10
說明
Understanding Interest Rates
 Text [1] Ch. 4, Text [2] Ch. 4
The Theory of Portfolio Choice
 Sharpe, William F. (1963). "A Simplified Model for Portfolio Analysis".
Management Science 9 (2): 277–93.
 Sharpe, William F. (1964). "Capital Asset Prices - A Theory of Market
Equilibrium Under Conditions of Risk". Journal of Finance XIX (3): 425–42.
The Behavior of Interest Rates and its Risk and Term Structure
 Text [1] Ch. 5and 6, Text [2] Ch. 4 and 5
An Economic Analysis of Financial Structure
 Text [1] Ch. 8
Banking Industry: Structure and Competition
 Text [1] Ch. 10, Text [2] Ch. 11
Mid-term Examination
Week 11
The Demand for Money: The Classical theory, the Cambridge School, the
Keynesian School and Modern Quantity Theory
 Text [1] Ch. 22, Text [2] Ch. 22
Week 12
The Structure of the Federal Reserve System
 Text [1] Ch. 14, Text [2] Ch. 17
Ref: [Blinder, Alan. 1996]
Week 13
The Policy Instruments of Central Banking
 Text [1] Ch. 17, Text [2] Ch. 19
Week 14
Understanding Movements in Bank Reserve
 Text [1] Ch. 16, Text [2] Ch. 20
Week 15
The Conduct of Financial Policy: Targets and Goals
Week 16
Week 17
Week 18
 Text [1] Ch. 18, Text [2] Ch. 21
Transmission Mechanism of Conventional and Unconventional Financial Policy:
Various Channels
 Text [1] Ch. 26, Text [2] Ch. 24
Ref: [Charles Schwab, 2013], [Arvind Krishnamurthy and Annette
Vissing-Jørgensen (2011)]
The Currency Board
Ref: [Humpage, O. and J. McIntire 1996]、[Schwartz, Anna J. 1993]
Final Examination