《Money,BankingandFinancialMarkets》是江西財經大學提供的慕課課程，授課老師是嚴武、牛子雨、胡少勇、李靜。
基本介紹
- 外文名：Money,Banking and Financial Markets
- 提供院校：江西財經大學
- 類別：慕課
- 授課老師：嚴武、牛子雨、胡少勇、李靜
課程大綱,參考教材,
課程大綱
Chapter 1 Why Study Money, Banking, and Financial Markets?
(1) An Overview of the Financial System : What is the financial system?
Teaching objectives
Before embarking on a study of money, banking, and financial markets, the student must be convinced that this subject is worth studying.An additional purpose of Chapter 1 is to provide an overview for the entire course.
Chapter 2 Introduction of Financial Markets
（1）Introduction of financial markets
（2）Money market
（3）capital market
Teaching objectives
Chapter 2 is an introductory chapter that contains the background information on the structure and operation of financial markets that is needed in later chapters
Chapter 3 What Is Money
(1) Evolution of the payments system
(2) Gresham’s Law
Teaching objectives
Before becoming immersed in the study of money and banking, the student must understand how money is defined and measured.
The first half of Chapter 3 discusses the definition of money: how the economist's definition differs from that of common speech, the functions of money, and a historical view of how what serves as money has changed over time. The second half of the chapter introduces principles about money.
Chapter 4 Understanding Interest Rates
（1）Interest Rates & Present value
（2）Credit Market Instruments （I）
（3）Credit Market Instruments （II）
Teaching objectives
In this chapter the student must understand the concept of present and how to discounting. An additional purpose of Chapter 1 is to provide basic acknowledge about debt instruments. This chapter focuses on the concepts of ‘cash flows, present value, discount rate, YTM’. Explain what interest rate is and the relationship between return ratio and YTM. Also in this chapter four basic debt instruments are introduced.
Chapter 5 The Behavior of Interest Rates(1) Supply and Demand in the Bond Market (1)
(2) Supply and Demand in the Bond Market (2)
(3) The Liquidity Preference Framework
Chapter 5 introduces one of these basic economic principles: the theory of asset demand. This theory indicates that there are four primary factors that influence peopled decisions to hold assets: wealth, expected returns, risk, and liquidity. The simple idea that these four factors explain the demand for assets is, in fact, an extremely powerful one.
Chapter 6 The Risk and Term Structure of Interest Rates
(1) The Structure of Interest Rates
(2) Risk Structure of Interest Rates
(3) Term Structure of Interest Rates(I)
(4) Term Structure of Interest Rates(II)
(5) Term Structure of Interest Rates(III)
Chapter 6 applies the tools the students learned in Chapter 5 to understanding why and how various interest rates differ, including:
Risk structure of interest rates;
Term structure of interest rates;
Bonds’ yield curves;
Expectation theory, segmented market theory and liquidity premium theory.
Chapter 7 The Stock Market
(1) Pricing a Stock (I)
(2) Pricing a Stock (II)
(3) A case about market prices
Students are expected to understand how stocks are priced and how information is incorporated into stock prices. This chapter discusses theories of how stocks are priced, and how the market set prices.
The one- period valuation model, the generalized dividend valuation model, and the Gordon growth model;
Chapter 8 The financial instruments: Derivatives
(1) Financial Derivative Instrument: Introduction
(2) Financial Derivative Instrument: Forward
(3) Financial Derivative Instrument: Financial Forward, FRA
(4) Financial Derivative Instrument: Future
(5) Financial Derivative Instrument: Option
(6) Financial Derivative Instrument: Swap
This chapter introduces different derivatives, including forward, FRA, future, option and swap. Students are expected to understand the basic concepts of these derivatives.
Chapter 9 An Economic Analysis of Financial Structure
(1) Basic Facts about Financial Structure
(2) Asymmetric Information：The Lemons Problem
(3) Asymmetric Information：Adverse Selection
(4) Asymmetric Information：Moral hazard
In chapter 9 we explain the basic facts about financial structure, discuss why most external financing of corporations are usually indirect finance. The concepts of asymmetric Information will be introduced too.
Chapter 10 Banking and the Management of Financial Institutions
(1) The Banking System
(2) Bank’s Balance Sheet
(3) Basic Banking
(4) Bank Management：Liquidity management
(5) Bank Management：Interest rate risk management(I)
(6) Bank Management：Interest rate risk management(II)
(7) Bank Management: Assets, liabilities and off-balance sheet Activities
In chapter 10 we explain the concept and the balance sheets of banks, introduce basic banking operations with T-accounts. Students are expected to understand banks, and the basic principles of bank managemen
Chapter 11 Central Banks & the Regulation System
(1) An introduction of the regulatory system
In this chapter we introduce central banks and the regulatory system, central bank independence and the functions of the regulatory system.
Chapter 12 The Money Supply Process
(1) Monetary Base
(2) Multiple Deposit Creation
(3) Money Multiplier
This chapter introduces the concept of High-powered money and money supply firstly, then the multiple deposit creation process. Student should understand what is MS and discuss that if the central bank could control money supply or not.
This chapter provides an analysis of how the money supply is determined. One point that needs to be emphasized at the outset is that the money supply is not determined solely at the whim of the central bank; rather, there are two other players in the money supply process who also play an important role: banks and depositors. And we discusses the simple odel of multiple deposit creation.
Chapter 13 Demand of Money and Inflation
(1)Demand of money
(2)Inflation
This chapter introduces the concepts of demand of money, the theories about money demand. Also we introduce inflation simply.
Chapter 14 Tools of Monetary Policy
(1) The Market For Reserves and the interbank offered rate
(2) Standing Lending Facility
(3) The effects of the monetary policy instruments
Chapter 14 examines in detail the tools at the central bank disposal for conducting monetary policy. This chapter shows how the monetary policy tools are used in the conduct of monetary policy and how they affect the interbank offered rate directly.
Chapter 15 The Conduct of Monetary Policy
(1) Goals of Monetary Policy
(2) How a Central Bank Achieves the Goals of Monetary Policy
(3) Examples of How a Central Bank Achieves the Goals of Monetary Policy (I)
(4) Examples of How a Central Bank Achieves the Goals of Monetary Policy (II)
(5) Examples of How a Central Bank Achieves the Goals of Monetary Policy (III)
Students are expected to fully understand how the central bank’s tools are used in the conduct of monetary policy. Chapter 15 outlines the strategy and tactics of central bank policymaking.
參考教材
The Economics of Money, Banking and Financial Markets，10th Global edition，Frederic S Mishkin, 2012, Prentice Hall.
Basic Finance, Herbert B. Mayo, 9th edition, 2008, Tsinghua University Press.
