授業の目的 【日本語】
Goals of the Course(JPN) | | | 本講義は、1.学部レベルのマクロ経済学の復習、２. マクロ経済分析のスキルの向上、３.上級レベルのマクロ経済学の課題やモデルについて理解を深めることを目的とする。履修生は、ISLMモデルから始まり、金融・財政政策、世代重複モデルおよび確率的動学マクロモデル(DSGE)について学習します。 |
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授業の目的 【英語】
Goals of the Course | | The purposes of this course are threefold. The first objective lies in blushing up macroeconomics of the participants including mathematics such as differentiation and linear algebra. The first three sessions are allocated for the first objective and introductory macroeconomics at a college level. Secondly, the course aims at building up macroeconomic analytical capability based on analytical framework practiced at international institutions based on macroeconomic statistics. The fourth to ninth sessions are designed for general development practitioners. The third element is to strengthen research capability based on advanced macroeconomics. The tenth to fifteenth sessions are designed for those who intend to do further researches for higher degree.
Knowledge on macroeconomics, mathematics and econometric software are not required but will be advantages. |
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到達目標 【日本語】
Objectives of the Course(JPN) | | | SLMモデルから始まり、金融・財政政策、世代重複モデルおよび確率的動学一般均衡マクロモデル(DSGE)について、理解し、それらのモデルを使ってマクロ経済分析を行えるようになることを目的とする。 |
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到達目標 【英語】
Objectives of the Course | | | The objectives are 1. to be able to handle ISLM model to analyze the consequence of fiscal and monetary policy in both closed economy and open economy, 2. to understand Cobb-Douglas production function to analyze the economic growth, 3. to analyze monetary sector and 4. to manipulate Dynamic Stochastic General Equilibrium Model (DSGE). |
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授業の内容や構成
Course Content / Plan | | Week 1: An introduction on GDP and its expenditure components is presented in economic growth perspective. Common characteristics of saving-investment balance in developing economies and determinants of consumption and investment.
Week2: Monetary Policy: Money supply and IS-LM analysis with special focus on Taylor rules, the Philips curve, monetary operation, Ricardian equivalence and fiscal policy in the IS-LM framework. Determinants of inflation in developing countries and its impact on macro-economy and development projects. Output gap and business cycle using Hodrick-Prescott filter.
Week 3: Monetary and Fiscal Policy in IS-LM framework
Week 4: BoP statistics and International Reserves: trade, worker’s remittance, foreign direct investment (FDI), external financing such as bonds and loans are discussed with a case study for international reserve crisis and Ukraine and case study for international reserves and development project. Exchange rate, international reserves and financial crisis are reviewed with samples from Thailand and Korea.
Week 5: Typology of exchange rate regimes is presented with uncovered interest parity and Balassa-Samuelson effect. Real effective exchange rate and terms-of-trade (TOT) shock are analyzed in addition to the adequacy of international reserves and analytical points in international reserves with an example of TOT shock and Mongolia/Iraq.
Week 6: Government finance statistics and analyzing government balance sheets. Fiscal policy and its impact on financial market and macro-economy are analyzed.
Week 7: Fiscal Position and Policy. This session will also discuss how the long term interest rates are determined, public sector crowding out private sector, commercial banks and sovereign risk, e.g,. Lebanon. Fiscal stance and fiscal impulse are also computed.
Week 8: Monetary Survey. The roles of central bank and commercial banks in the economy are presented. How monetary survey show linkages among real sector, government and BoP are reviewed. Central bank’s balance sheet and monetary policy including Taylor rule, money multiplier, and velocity of money are computed.
Week 9: Monetary analysis: Money Overhang and Real Monetary Condition Index is analyzed. Linkages among monetary policy, fiscal policy and exchange rate policy with respects to monetary policy and external debt are discussed with a samples from Hungary and Iceland. Exchange rate risk and financial market risk are reviewed.
Week 10: Solow Model: Total factor productivity analysis using Cobb-Douglas production function is presented.
Week 11: Overlapping Generations Model and Its implication to Fiscal Policy
Week 12: Ramsey Model with Simulation Analysis
Week 13: An Introduction to General Equilibrium Analysis
Week 14: General Equilibrium Model Building
Week 15: Introduction to International Macroeconomic Analysis. Trilemma in international macroeconomic theory is presented and discussed.
Notes:
1. The schedule is subject to changes depending on the readiness and progress of the class.
2. Mathematics and statistics such as differentiation and linear algebra relevant to the lecture will be reviewed in the class when and if necessary. |
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履修条件・関連する科目
Course Prerequisites and Related Courses | | Development Finance, Development Economics, Basic Macroeconomics, Microeconomics.
There is no precondition to take this course. |
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成績評価の方法と基準
Course Evaluation Method and Criteria | | In-class quiz and homework (50%) and final exam (50%).
Credit is given to C- or C (where applicable) or higher grade for each criterion. |
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教科書・参考書
Textbook/Reference Book | | （１）Gregory Mankiw, 2016, Macroeconomics (9th edition), Macmillan Education
ISBN-10 : 1319243584
(2) F. S. Mishkin, 2016, The Economics of Money, Banking, and Financial Market, Pearson.
ISBN-10 : 1292268859
(3) Paul Grugman,2018, International Economics Theory and Policy, 11th edition, Peason
ISBN-10 : 9781292216355
齋藤誠 他、2010年、「マクロ経済学」有斐閣 ISBN-10 : 4641053847 |
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課外学習等（授業時間外学習の指示）
Study Load(Self-directed Learning Outside Course Hours) | | | Students are expected before the class to read relevant chapters and sections in those textbooks above from (1) to (3). |
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注意事項
Notice for Students | | | Students are not expected to have a solid background in international finance and macroeconomics since the lecture starts from introductory levels. However, having a background in economics is an advantage. |
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使用言語
Language(s) for Instruction & Discussion | | |
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授業開講形態等
Lecture format, etc. | | 原則として対面で行う。例外的に、遠隔授業（同時双方向）を行う。
遠隔授業は Teams、Zoom等で⾏う。
※履修登録後に授業形態等に変更がある場合には、NUCＴの授業サイトで案内します。
In principle, lecture and seminar course subjects are offered in-person.
Online participation in classes (interactive communication classes via Teams, Zoom, etc.) may be permitted by the instructor under exceptional circumstances.
*Guidance will be posted on NUCT if there are any changes in the class format, etc. after registration. |
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遠隔授業（オンデマンド型）で行う場合の追加措置
Additional measures for remote class (on-demand class) | | |
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