| 学部・大学院区分 | | 開・博前 | | | 時間割コード | | 3060030 | | | 科目区分 | | 専門・プログラム
Program | | | 科目名 【日本語】 | | 開発金融論 | | | 科目名 【英語】 | | Development Finance | | | コースナンバリングコード | | | | | 担当教員 【日本語】 | | 染矢 將和 ○ | | | 担当教員 【英語】 | | SOMEYA Masakazu ○ | | | 単位数 | | 2 | | | 開講期・開講時間帯 | | 春 月曜日 １時限
Spring Mon 1 | | | 授業形態 | |
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| 授業の目的 【日本語】 | | | | | 授業の目的 【英語】 | | | The objectives of this course, Development Finance, are two-holds. Firstly, the students will learn the Mundell-Fleming Model and acquire how to handle the model to analyze the impact of fiscal and monetary policy. Developing countries are vulnerable to and less resilient against external shocks. Understanding the consequence of fiscal and monetary policy in an open economy is crucial in sound economic management. Secondly, the students will learn financial market theory and risk management. The roles of banking sector, financial instruments and financial market in developing counties have become critical than ever in last few decades. This is because its congenial and detrimental reverberation on other sectors and other countries have been magnified by financial globalization and recognized so by the international community since the Asian crisis and even more after the Lehman shocks. The course will be always discussed in the context of developing countries and be conducted with many hand-on exercised based on spread sheet software. |
| | | 到達目標 【日本語】 | | | | | 到達目標 【英語】 | | | | | 授業の内容や構成 | | Structure of the Course / Schedule授業の構成・計画
Week 1: Brief Revision of IS-LM Analysis
Week 2: Fiscal and Monetary Policy in Mundell-Fleming Model under Fixed Exchange Regime
Week 3: Fiscal and Monetary Policy in Mundell-Fleming Model under Free-Float.
Week 4: Bond pricing and how bonds market functions to determine long term interest rate is explained with linkage among financial markets, government and real sector through bond market.
Week 5: Yield curve and term structure are analyzed with expectation, spot and forward rate, and arbitrage condition. Bootstrapping and regressions are used to construct yield curve.
Week 6: Monetary Approach to Exchange Rate: PPP and Uncovered Interest Parity
Week 7: Monetary Model of the Balance of Payments
Week 8: Introduction to Intertemporal Optimization
Week 9: Intertemporal Trade and the Current Account Balance
Week 10: Portfolio theory and optimization of portfolio in a two asset framework with risk minimization. Sharp ratios, reward-to-variability and capital allocation lines are covered.
Week 11: Monetary Policy, Duration, convexity and immunization strategy in View of Risk management for Banking Sector.
Week 12: Capital Asset Pricing Model (CAPM), Discounted Dividend Model (DDM), auto-regressive model and factor model are introduced.
Week 13: Monte Carlo simulation with brief reviews on statistics and statistical distribution.
Week 14: Value-at-Risk by historical data method and delta method.
Week 15: Value-at-Risk by stochastic simulation.
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| | | 履修条件・関連する科目 | | Related courses: Development Finance, Development Economics, Macroeconomics, Microeconomics.
There is no precondition to take this course. |
| | | 成績評価の方法と基準 | | In-class quiz and homework (30%), mid-term exam (35%) and final exam (35%)
Credit is given to C- or C (where applicable) or higher grade for each criterion. |
| | | 教科書・参考書 | | Gregory Mankiw, 2016, Macroeconomics (9th edition), Macmillan Education
Paul Grugman,2018, International Economics Theory and Policy, 11th edition, Peason |
| | | 課外学習等（授業時間外学習の指示） | | | | | 注意事項 | | | | | 使用言語 | | | | | 授業開講形態等 | | | | | 遠隔授業（オンデマンド型）で行う場合の追加措置 | | | |
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