講義名 経済特殊講義Ⅲ(Monetary Policy(英)) ≪◇学部≫
講義開講時期 後期
曜日・時限 月4
単位数 2

担当教員
氏名
柳沼 寿

学習目標(到達目標) 1.Students can obtain the basic knowledge on the financial
system and its components, the objectives and roles of the
  central bank, and the mechanism of the monetary policy.
2.Using English in the class will help Japanese students
improve the confidence in English capability.
授業概要(教育目的) The technical terms are explained in English using the text. Most of the technical terms are translated into Japanese if there are Japanese students.
Group discussions are introduced to find answers for problems attached to each chapter.
授業計画表
 
項目内容
第1回Introduction (Ch.1)(0)Introduction
(1)The 6 fundamental parts of the
financial system
Money, financial instruments,financial
markets, financial institutions,
regulatory agencies, and central bank
as the fundamental parts of the
financial system are explained.
(2)The 5 core principles of money and
banking
The core principles of money based on
time, risk, information, markets and
stability are explained.

Preparatory Work
Read the sections of the Text on the 6
parts of the financial system and the 5
core principles of money.
第2回Review for Chapter 1Group discussions for problems attached to Chapter 1

Preparatory Work
Find the answers to problems allotted
beforehand.
第3回Money and Payments(ch.2)(1)Three characteristics of money
3 characteristics of money and
diffferent types of money and payments
are explained.
(2)The definitions of money
the different definitions of money and
the aggregate amount of money are
explained.

Preparatory Work
Read the sections of the Text on the 3
characteristics of money and the
definitions of money.
第4回Review of Chapter 2
group discussions for problems attached to Chapter 2

Preparatory Work
Find the answers to problems allotted
beforehand.
第5回Financial Instruments and financial markets(Ch.3)
(1)Financial Instruments
The definition of financial
instruments are given.
(2)Financial Institutions
Eplanations on the role of financial
instruments as the store of value and
transfer of risk are given.Examples of
financial instruments and institutions
are introduced.

Preparatory Work
Read the sections of the Text on the
definitions of financial instruments
and their roles.

第6回Review of Chapter 3Group discussions for problems attached to Chapter 3

Preparatory Work
Find the answers to problems allotted
beforehand.
第7回Central Banks in the World Today(Ch.15)(1)Origin and role of central bank
The origin of the central bank as the
government bank and its development is
explained.
(2)Objectives of the central bank
The primary objectives of the central
bank related with the reduction of
volatility of the economic and
financial system are discussed.

Preparatory Work
Read the sectiond of the Text on the
origin of the central bank and the
objectives of thecentral bank.

第8回Central Bank in the World Today:continued(Ch.15)(3)Challenge of the central bank
The independence and the decision
making of the central bank andits
accountability and credibility are
discussed.
(4)Central banks and fiscal policy
Conflicts between fiscal and monetary
policymakerseven sharing the same
ultimate goal are discussed.

Preparatory Work
Read the sectins of the Text on the
successful central bank and the
conflict with fiscal policy.
第9回Review of Chapter 15Group discussions for problems attached to Chapter 15

Preparatpry Work
Find the answers to problems allotted
beforehand.


第10回The Central Bank and Money Supply(Ch.17)(1)Central bank's balance sheet
The assets and liabilities of the
balance sheet of the central bank as
an important role in its operation of
monetary policy are discussed.
(2)The deposit expansion multiplier
The deposit creation of a banl and its
relation with the deposit or cewdir
expansion as a whole system is
discussed.

Preparatory Work
REad the sections of the TExt on the
balance sheet of the central bank and
the deposit expansion multiplier.
第11回Review of Chapter 17
Grup discussions for problems attached to Chapter 17

Preparatory Work
Find the answers to problems allotted
beforehand.

第12回Monetary Policy(Ch.18)(1)Link to objectives
The relationship between operaing
instruments, intermediate targets, and
final objectives are explained.
(2)The Taylor rule
The simple rule to explaine the
behavior of the central bank is
discussed.
(3)Unconventional Policy
Concepts such as quantitative easing
are explained.

Preparatory Work
Read the sections of the Text on the
link to objectives, Taylor Rule and the
unconventional policy.
第13回Review of Chapter 18Group discussions for problems attached to Chapter 18

Preparatory Work
Find the answers to problems allotted
beforehand.
第14回Regulating the Financial System(Ch.14)(1)The Sources of Crises
Bank runs in the past history is
briefly explained. Illiquidity as the
base of fragility is explained.
(2)Safety Net and Regulation of Financial
System
The role of shadow banks and the
government, restriction of competition
and balance sheet restrictions are
discussed.

Preparatory Work
Read the sections of the Text on the
sources of crises and regulation system.


第15回Term Examination and explanation about the answersExamination for the 1st Semester
Explanation about the answers
授業形式 Lecture style is used to explain the basic concepts and theories.
Group discussions are introduced for questions and problems attached to each chapter.
Students will be required to provide short essays on specific topics.
評価方法
定期試験 レポート 小テスト 授業への
参画度
その他 合計
50% 20% 0% 10% 20% 100%
評価の特記事項 ”Other” covers group discussions.
テキスト S.G.Cecchetti et al.(2015)、Money,Banking,and Financial Markets McGraw Hill
参考文献 References will be given in the 1st class.
オフィスアワー(授業相談) Students can come to ask in the class room or in the room for guest professors after the class.
事前学習の内容など,学生へのメッセージ Students are recommended to have interest in financial system and monetary policy.