0-2 introduction

2011-1-25
Chinese Finance Research Institute
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Introduction
International Finance, also labeled as Open Economy Macroeconomics, International Monetary Economics, International Macroeconomics, etc., a branch of International Economics. Micro-finance The same to that abroad, introduced into China ever since 1990s. III. Economics & Finance Arbitrage vs. Demand & Supply
2011-1-25
Chinese Finance Research Institute
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Introduction
II. The Subject of Finance II.1 Finance Abroad Corporate finance capital structure & corporate governance Asset pricing or capital market II.2 Finance in the Domestic Macro-finance Money and Banking, also referred to as Economics of Money, Banking and Financial Markets. In a broader sense, it should be labeled as Monetary Economics.
2011-1-25
Chinese Finance Research Institute
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Introduction
IV. International Finance IV.1 What Is It About? International monetary analysis focuses on the monetary side of the international economy, a sub-field of International Economics (Krugman and Obstfeld, 2003). The simultaneous realization of internal and external balances in an open economy, from the perspective of money and finance (Jiang and Yang, 2004). But in their point of view, International Finance is slightly different from open economy macroeconomics.
2011-1-25
Chinese Finance Research Institute
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Introduction
IV.2 Contents The theory on balance of payments Including elasticity approach, multiplier approach, absorption approach, and monetary approach to balance of payment, etc. The exchange rate economics The determination of the exchange rate under a floating exchange rate regime, and the economics of fixed exchange rate regimes, such as the choice of exchange rate regimes, currency crisis, target zone theory, etc. Policy, policy mix & policy coordination
2011-1-25
Chinese Finance Research Institute
5
Introduction
The monetary and macroeconomic relations between countries(Gandolfo, 2002, pp.2; Pilbeam, 2006, pp. xxi) . International Finance is the equivalent to open economy macroeconomics and International Macroeconomics. It deals with the real world issues such as balance of payments problems and policy, the causes of exchange rate movements and the implications of macroeconomic linkages between countries (Pilbeam, 2006, pp. xxi) Research Institute
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Introduction V. Course Outlines Introduction Theory of Balance of Payments Exchange Rate Economics Policies in the Open Economy
2011-1-25
Chinese Finance Research Institute
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Appendix
Acrobat 文档
2011-1-25
Chinese Finance Research Institute
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2011-1-25
Chinese Finance Research Institute
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Introduction
IV.3 Paradigms M-F and M-F-D model; Originator & contributors: Mundell (1960; 1963; 1964); Fleming (1962); Dornbusch (1976). Intertemporal approach to the current account; Originator & contributors: Hamada (1969), etc. New open economy macroecomics (NOEM) Originator & contributors: Obstfeld and Rogoff (1995; 1996).
International Finance
Liu, Xiaohui SWUFE
2011-1-25
Chinese Finance Research Institute
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Introduction
I. What Is Finance? Allocation efficiency of capital & assets; The working of the capital market and the supply and the pricing of capital assets (Stephen A. Ross); The allocation and deployment of economic resources, both spatially and temporally, in an uncertain environment (Merton, 1995). A simple note on the definitions of capital, asset, and capital asset, etc. is presented in the attached document.