回 | 項目 | 内容 |
第1回 | Purpose and function of central bank | Historical development of central bank and key features and functions of the Bank of Japan will be described.
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第2回 | Tools of monetary policy | Conventional monetary policy tools such as open market operations, discount lending or reserve requirements will be explained.
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第3回 | Market operations | Market operation tools in Japan will be further described.
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第4回 | Transmission mechanisms of monetary policy | The transmission mechanisms through which monetary policy can affect the real economy will be explained.
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第5回 | Zero interest rate policy (ZIRP) | Japanese experiences of zero interest rate policy will be described and effectiveness of ZIRP will be discussed.
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第6回 | Quantitative-Qualitative Easing (QQE) with minus interest rates | Japanese experiences of QQE with minus interest rates will be described and its effectiveness will be discussed.
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第7回 | QQE with yield curve control | Japanese monetary policy called QQE with yield curve control will be described and its effectiveness will be evaluated.
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第8回 | The foreign exchange market | How the foreign exchange market works and importance of foreign exchange rate will be explained.
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第9回 | Determinants of foreign exchange rates | Theories of purchasing power parity and interest rates parity will be explained.
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第10回 | The international financial system | Advantage and disadvantage of interventions on foreign exchange markets will be explained. The role of IMF will be discussed.
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第11回 | Balance of payment and international position | Relationships between two important statistics - balance of payment and international investment position- will be explained.
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第12回 | Global financial crisis and international financial cooperation | Causes and consequences of Asian currency crisis and global financial crisis will be explained.
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第13回 | International financial cooperation | Bilateral and multilateral financial cooperation will be described.
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第14回 | Review | Recapitulation of classes 1 to 13.
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第15回 | Summary | Summing up of whole course. |