講義名 Ｊａｐａｎｅｓｅ　Ｆｉｎａｎｃｅ　ａｎｄ　ＢａｎｋｉｎｇⅠ　≪□第一部≫
講義開講時期 前期
曜日･時限 金４
単位数 2

担当教員
氏名
中島　善太

学習目標(到達目標) This course is intended as an introduction to the tools that you would need when undertaking an analysis in money, interest and foreign exchange. The spring semester is so closely connected with the autumn semester that students are strongly urged to take both semesters; you will see why below.
授業概要(教育目的) The spring semester will develop a set of analytical tools concerning the foreign exchange and domestic money markets . The autumn semester will tell you how to apply those tools in monetary analysis, with emphasis on the long-run and short-run effectiveness of monetary policy.
授業計画表
 
回項目内容
第1回Introduction and guidanceThis session outlines what the course will look like as a whole, how your grades will be determined, how to take notes of the lectures efficiently, etc. I would strongly urge you to attend this session, before really deciding to take this course.
第2回The foreign exchange mechanismI will explain the developments in the yen-dollar rate in the last five decades or so. I will also look into some elementary foreign exchange transactions.
第3回DittoThe hypothesis of 'uncovered interest rate parity (UIP)' will be elaborated.
第4回DittoDitto
第5回The domestic money market mechanismThe Japanese money and financial markets will be discussed.
第6回DittoThe current account with the Bank of Japan (hereafter referred to as BoJ), the short-term money markets (eg, the call market ) and some other topics of interest will be discussed.
第7回DittoDitto
第8回DittoI will describe in detail a theory on the demand for money.
第9回DittoI will elaborate on a theory on the supply of money.
第10回DittoI will describe in detail the BoJ's open market operations.
第11回DittoI will examine the 'money multiplier hypothesis' critically.
第12回Monetary control in actionI will explain how the BoJ conducts monetary policy in actual practice. I will also look into how monetary policy will affect the real economy with the aid of the theoretical tools developed so far.
第13回Quantitative easingThe BoJ adopted and followed quantitative easing during the period 2001-2006. Was it effective? What sort of complications did it generate? Discussions of the BoJ's experience will be useful in understanding the quantitative easing policies now under way in the US and UK.
第14回Supplementary recapitulation
Recapitulation
第15回In-class examThis is the final exam. Students will be allowed 60 minutes to answer all the questions. Students must pass the exam to pass the course.
授業形式 In each session, the main points of the lectures will be projected on the screen. I will elaborate on them and may provide additional information. I will also discuss current topics, including developments in financial markets, banking supervision regulations, etc.
評価方法
定期試験 レポート 小テスト 講義態度
（出席） 		その他 合計
95% 0% 0% 5% 0% 100%
評価の特記事項 Unless your class attendance is excellent, you are likely to end up poor in the exam.
テキスト There is no single textbook for this course. My website shown below will be of much help.
参考文献 The Bank of Japan's website: http://boj. or.jp (The English version is available.)
オフィスアワー(授業相談) Be sure to take an appointment either before or after class on Friday.
事前学習の内容など，学生へのメッセージ It should be emphasised that the spring and autumn semesters are not independent of each other. The spring semester is devoted to developing the tools. The autumn semester focuses on the application of the tools thus developed. Be absolutely sure to take both semesters.
授業用URL http://www.eco.nihon-u.ac.jp/~nakajima