| 回 | 項目 | 内容 |
| 第1回 | Introduction and guidance | This 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. Please take note that the password to access my website will be released in the course of this guidance. |
| 第2回 | The foreign exchange mechanism (i) | I will explain the developments in the yen-dollar rate in the last five decades or so. I will also look into some elementary kinds of foreign exchange transactions.
【Preparation】
Chapter II of my lecture notes on my website (explained in the previous class) should be glanced through prior to class. |
| 第3回 | The foreign exchange mechanism (ii) | The hypothesis of 'uncovered interest rate parity (UIP)' will be elaborated.
|
| 第4回 | The foreign exchange mechanism (iii) | Ditto |
| 第5回 | The domestic money market mechanism (i) | The Japanese money and financial markets will be discussed.
【Preparation】
Chapter III of my lecture notes on my website should be glanced through prior to class. |
| 第6回 | The domestic money market mechanism (ii) | The 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 | The domestic money market mechanism (iii) | Ditto |
| 第8回 | The domestic money market mechanism (iv) | I will describe in detail a theory on the demand for money. |
| 第9回 | The domestic money market mechanism (v) | I will discuss a theory on the supply of money |
| 第10回 | The domestic money market mechanism (vi) | I will describe in detail the BoJ's open market operations. |
| 第11回 | The domestic money market mechanism (vii) | I will examine the 'money multiplier hypothesis' critically. |
| 第12回 | Monetary control in action | I 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 easing | The BoJ adopted and followed quantitative easing(QE) 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 exam | This is the final exam. Students will be allowed 60 minutes to answer all the questions. Students must pass the exam to pass the course. |
