国际经济学 教学大纲

《国际经济学》教学大纲课程编号课程类别适用专业

0609313《国际经学》（下）、《国际经学》（国际金融）InternationalEconomics必修(Required)金融专业总 学学

51学时分3考核方式是否读写议课程主要任课教师课程简介建议教材

闭卷是陈志昂、孔令强、方霞、黄晓东Internationaleconomiiabranchofappliedeconomicswhichpaysattentiontobothpositiveandnormativeresearch,stressingthepracticalityandpracticability.Bylearningthiscoursestudentsmaymastertherelevanttheoriesaboutthebalanceofpayments,texchangeratedetermination,internationalpolicycoordinationandtheinternationalcapitalmarket.PaulR.KrugmanandMauriceObstfeldInternationalEconomics:TheoryandPolicy(sixthedition)清华大学出版社，2004年克鲁格曼：《国际经济学：理论与政策》（第五版人民大学出版社，2002年DominickSalvatore.Internationaleconomics（FifthEdition），清华大学出版社，1997年刘思跃，肖卫国：《国际金融》，武汉大学出版社，2002年二、课程的对象和性质课程对象：本课程适用于全日制金融专业本科生，拟于大三第一学期授课。课程性质：本课程属于专业必修课。三、课程的教学目的和要求Teachingpurpose：graspingthetheoryandpracticeofinternationalfinancecangiveusaglobalperspectivetothewholeeconomy.Thecourse'sbasicgoalistomakestudentssetuptheconsciousnessofinternationaleconomicalactivity,graspthebasicconceptofworldwidebusiness.Teachingrequirement：Thiscoursetrainsthinkingmethodofstudentandusesabilitytofocuson,adoptingclassroomteach,casediscussion,roleact,classroomlecturetheteachingmethodcombinedtogether.Anditencouragesstudent'sclassroomtomakeaspeech,participateindiscussingactively.Thequantityofthecase:morethan10logiccases,4comprehensiveDemandtoupgradeacomprehensivecaseeveryacademicyear.Multimediateaching:PPTcoursewaredemandandthissyllabuscontenttotallymatched.四、理论教学内容与基本要求(含学时分配)Chapter12Chapter121、ChapterOrganizationTheNationalIncomeAccountsNationalProductandNationalIncomeCapitalDepreciation,InternationalTransfers,andIndirectBusinessTaxesGrossDomesticProductNationalIncomeAccountinginaClosedEconomyConsumptionInvestmentGovernmentPurchasesTheNationalIncomeIdentityforanOpenEconomyAnImaginaryOpenEconomyTheCurrentAccountandForeignIndebtednessSavingandtheCurrentAccountPrivateandGovernmentSavingsTheBalanceofPaymentsAccountsExamplesofPairedTransactionsTheFundamentalBalanceofPaymentsIdentityTheCurrentAccount,OnceAgainTheFinancialAccountTheCapitalAccountTheStatisticalDiscrepancyOfficialReserveTransactions2、Chapter12beginswithadiscussionofthefocusofinternationalfinance.discussionthenproceedstonationalincomeaccountinginanopeneconomy.Thechapterpointsout,inthediscussiononthebalanceofpaymentsaccount,thatcurrentaccounttransactionsmustbefinancedbyfinancialaccountflowsfromeithercentralbankornoncentralbanktransactions.Acasestudyusesnational incomeaccountingidentitiestoconsiderthelinkbetweengovernmentbudgetdeficitsandthecurrentaccount.Chapter13 ExchangeRatesandtheForeignExchangeMarket:AnAsset (6periods)1、ChapterOrganizationExchangeRatesandInternationalTransactionsDefinitionandQuotationBasicRateandCrossRateTheroleofarbitrageTheForeignExchangeMarketTheActorsCharacteristicsoftheMarketSpotRatesandForwardForeignExchangeSwapsTheDemandforForeignCurrencyAssetsandAssetReturnsRiskandLiquidityInterestRatesExchangeRatesandAssetReturnsASimpleRuleReturn,Risk,andLiquidityintheForeignExchangeMarketEquilibriumintheForeignExchangeMarketInterestParity:TheBasicEquilibriumConditionHowChangesintheCurrentExchangeRateAffectExpectedReturnsTheEquilibriumExchangeRateInterestRates,Expectations,andEquilibriumTheEffectofChangingInterestRatesontheCurrentExchangeRateTheEffectofChangingExpectationsontheCurrentExchangeRateBox:ThePerilsofForecastingExchangeRates2, Firstly,Chapter13introducethedefinitionofexchangerates,thenpresentshowdeterminecrossratesandtheroleofarbitrage.Secondly,thischapterpresentsamodelinwhichtheexchangerateadjuststoequateexpectedreturnsoninterest-bearingassetsdenominatedindifferentcurrenciesgivenexpectationsaboutexchangerates,andthedomesticandforeigninterestrate.Thisfirstbuildingblockofthemodellaysthefoundationforsubsequentchaptersthatexplorethedeterminationofdomesticinterestratesandoutput,thebasisforexpectationsoffutureexchangeratesandricherspecificationsoftheforeign-exchangemarketthatincluderisk.Anappendixtothischapterexplainsthedeterminationofforwardexchangerates.Chapter14Money,InterestRates,andExchangeRates(7periods)Chapter141、ChapterOrganizationMoneyDefined:ABriefReviewMoneyasaMediumofMoneyasaUnitofAccountMoneyasaStoreofValueWhatisMoney?HowtheMoneySupplyisDeterminedTheDemandforMoneybyIndividualsExpectedReturnRiskLiquidityAggregateMoneyDemandTheEquilibriumInterestRate:TheInteractionofMoneySupplyandDemandEquilibriumintheMoneyMarketInterestRatesandtheMoneySupplyOutputandtheInterestRateTheMoneySupplyandtheExchangeRateintheShortRunLinkingMoney,theInterestRate,andtheExchangeRateU.S.MoneySupplyandtheDollar/EuroExchangeRateEurope'sMoneySupplyandtheDollar/EuroExchangeRateMoney,thePriceLevel,andtheExchangeRateintheLongRunMoneyandMoneyPricesTheLong-RunEffectsofMoneySupplyChangesEmpiricalEvidenceonMoneySuppliesandPriceLevelsBox:InflationandMoneySupplyGrowthinLatinMoneyandtheExchangeRateintheLongRunInflationandExchangeRateDynamicsShort-RunPriceRigidityversusLong-RunPriceFlexibilityBox:MoneySupplyGrowthandHyperinflationinBoliviaPermanentMoneySupplyChangesandtheExchangeRateExchangeRateOvershooting2, Chapter14introducesthedomesticmoneymarket,linkingmonetaryfactorstoshort-runexchange-ratedeterminationthroughthedomesticinterestrate.Thechapterbeginswithadiscussionofthedeterminationofthedomesticinterestrate.Interestparitylinksthedomesticinterestratetotheexchangerate,arelationshipcapturedintwo-quadrantdiagram.Comparativestaticsemployingthisdiagramdemonstratetheeffectsofmonetaryexpansionandcontractionontheexchangerateintheshortrun.Dynamicconsiderationsareintroducedthroughanappealtothelongrunneutralityofmoneythatidentifiesalong-runsteady-statevaluetowardwhichtheexchangerateevolves.Thedynamictimepathofthemodelexhibitsovershootingoftheexchange-rateinresponsetomonetarychanges.Chapter15PriceLevelsandtheExchangeRateintheLongRun(7periods)Chapter151、ChapterOrganizationTheLawofOnePricePurchasingPowerParityTheRelationshipBetweenPPPandtheLawofOnePriceAbsolutePPPandRelativePPPALong-RunExchange-RateModelBasedonPPPTheFundamentalEquationoftheMonetaryApproachOngoingInflation,InterestParity,andPPPTheFisherEffectEmpiricalEvidenceonPPPandtheLawofOnePriceBox:SomeMeatyEvidenceontheLawofOnePriceExplainingtheProblemswithPPPTradeBarriersandNontradablesDeparturesfromFreeCompetitionBox:HongKong'sSurprisinglyHighInflationInternationalDifferencesinPriceLevelMeasurementPPPintheShortRunandintheLongRunBox:StickyPricesandtheLawofOnePrice:EvidenceFromScandinavianDuty-freeShopsCaseStudy:WhyPriceLevelsareLowerinPoorerCountriesBeyondPurchasingPowerParity:AGeneralModelofLong-RunExchangeRatesTheRealExchangeRateDemand,Supply,andtheLong-RunRealExchangeRateNominalandRealExchangeRatesinLong-RunEquilibriumCaseStudy:WhyHastheYenKeepRising?InternationalInterestRateDifferencesandtheRealExchangeRateRealInterestParityPortfolioBalanceApproachtotheExchangeRateDeterminationStockversusFlowAnalysisModelShort-RumAnalysisLong-TermEquilibrium2, Chapter15developsamodelofthelongrunexchangerate.Thelong-runexchangerateplaysaroleinacompleteshort-runmacroeconomicmodelsinceonevariableinthatmodelistheexpectedfutureexchangerate.Thechapterbeginswithadiscussionofthelawofonepriceandpurchasingpowerparity.Amodeloftheexchangerateinthelong-runbaseduponpurchasingpowerparityisdeveloped.Areviewoftheempiricalevidence,however,castsdoubtonthismodel.Thechaptergoesontodevelopageneralmodelofexchangeratesinthelongruninwhichtheneutralityofmonetaryshocksemergesasaspecialcase.Incontrast,shockstotheoutputmarketorchangesinfiscalpolicyalterthelongrunrealexchangerate.Thischapteralsodiscussestherealinterestparityrelationshipthatlinkstherealinterestdifferentialtotheexpectedchangeintherealexchangerate.Anappendixexaminestherelationshipoftheinterestrateandexchangerateunderaflexible-pricemonetaryapproach.Chapter16 OutputandtheExchangeRateintheShortRun(8periods)1、ChapterOrganizationDeterminantsofAggregateDemandinanOpenEconomyDeterminantsofConsumptionDemandDeterminantsoftheCurrentAccountHowRealExchangeRateChangesAffecttheCurrentAccountHowDisposableIncomeChangesAffecttheCurrentAccountTheEquationofAggregateDemandTheRealExchangeRateandAggregateDemandRealIncomeandAggregateDemandHowOutputisDeterminedintheShortRunOutputMarketEquilibriumintheShortRun:TheDDScheduleOutput,theExchangeRate,andOutputMarketEquilibriumDerivingtheDDScheduleFactorsthatShifttheDDScheduleAssetMarketEquilibriumintheShortRun:TheAAScheduleOutput,theExchangeRate,andAssetMarketEquilibriumDerivingtheAAScheduleFactorsthatShifttheAAScheduleShort-RunEquilibriumfortheEconomy:PuttingtheDDandAASchedulesTogetherTemporaryChangesinMonetaryandFiscalPolicyMonetaryPolicyFiscalPolicyPoliciestoMaintainFullEmploymentInflationBiasandOtherProblemsofPolicyFormulationPermanentShiftsinMonetaryandFiscalPolicyAPermanentIncreaseintheMoneySupplyAdjustmenttoaPermanentIncreaseintheMoneySupplyAPermanentFiscalExpansionBox:TheDollarExchangeRateandtheU.S. EconomicSlowdownofMacroeconomicPoliciesandtheCurrentAccountMarshall-LernerconditionGradualTradeAdjustmentandCurrentAccountDynamicsTheJ-CurveExchange-RatePass-ThroughandInflation2、Chapter16 presents a macroeconomic model of output and exchange-ratedeterminationintheshortrun.Thechapterintroducesaggregatedemandinasettingofshort-runpricestickinesstoconstructamodelofthegoodsmarket.Theexchange-rateanalysispresentedinpreviouschaptersprovidesamodeloftheassetmarket.Theresultingmodelis,inspirit,veryclosetotheclassicMundell-Flemingmodel.modelisusedtoexaminetheeffectsofavarietyofpolicies.Theanalysisallowsadistinctiontobedrawnbetweenpermanentandtemporarypolicyshiftsthroughthepedagogicdevicethatpermanentpolicyshiftsalterlong-runexpectationstemporarypolicyshiftsdonot.Thisdistinctionhighlightstheimportanceofexchange-rateexpectationsonmacroeconomicoutcomes.AcasestudyofU.S.fiscalandmonetarypolicybetween1979and1983utilizesthemodeltoexplainnotablehistoricalevents.Thechapterconcludeswithadiscussionofthelinksbetweenexchangerateandimport pricemovements which focuseson the J-curve exchange-ratepass-through.AnappendixtothechaptercomparestheIS-LMmodeltothemodeldevelopedinthischapter.Asecondappendixconsidersintertemporaltradeandconsumptiondemand.Athird appendixdiscussestheMarshall-Lernerconditionandestimatesoftradeelasticities.CHAPTER17FixedExchangeRatesandForeignExchangeIntervention(5periods)1、ChapterOrganizationWhyStudyFixedExchangeRates?CentralBankInterventionandtheMoneySupplyTheCentralBankBalanceSheetandtheMoneySupplyForeignExchangeInterventionandtheMoneySupplySterilizationTheBalanceofPaymentsandtheMoneySupplyHowtheCentralBankFixestheExchangeRateForeignExchangeMarketEquilibriumUnderaFixedExchangeRateMoneyMarketEquilibriumUnderaFixedExchangeRateADiagrammaticAnalysisStabilizationPoliciesWithaFixedExchangeRateMonetaryPolicyFiscalPolicyChangesintheExchangeRateAdjustmenttoFiscalPolicyandExchangeRateChangesCaseStudy:FixingtheExchangeRatetoEscapeFromaLiquidityTrapBalanceofPaymentsCrisesandCapitalFlightBox:Mexico's1994BalanceofPaymentsCrisisManagedFloatingandSterilizedInterventionPerfectAssetSubstitutabilityandtheIneffectivenessofSterilizedInterventionForeignExchangeMarketEquilibriumUnderImperfectAssetSubstitutabilityTheEffectsofSterilizedInterventionwithImperfectAssetSubstitutabilityEvidenceontheEffectsofSterilizedInterventionTheSignalingEffectofIntervention2,Thischapterdiscussesinterventionbythecentralbankandtherelationshipofthispolicytothemoneysupply.Thisanalysisisblendedwiththepreviouschapter'sshort-runmacroeconomicmodeltoanalyzepolicyunderfixedrates.Thebalancesheet ofthecentralbankisusedtokeeptrackoftheeffectsofforeignexchangeinterventiononthemoneysupply.Themodeldevelopedinpreviouschaptersisextendedbyrelaxingtheinterestparityconditionandallowingexchange-raterisktoinfluenceagents*decisions.Thisallowsadiscussionofsterilizedintervention.Anothertopicdiscussedinthischapteriscapitalflightandbalanceofpaymentscriseswithanintroductiontodifferentmodelsofhowabalanceofpaymentsorcurrencycrisiscanoccur.Theanalysisalsoisextendedtoatwo-countryframeworktodiscussalternativesystemsforfixingtheexchange-rateasapreludetoPartIV.AnappendixtoChapter17developsamodeloftheforeign-exchangemarketinwhichriskfactorsmakedomestic-currencyandforeign-currencyassetsimperfectsubstitutes.Asecondappendixexploresmonetaryapproachtothebalanceofpayments.Thethirdappendixdiscussesthetimingofabalanceofpaymentscrisis.CHAPTER18TheInternationalMonetarySystem(6periods)1、ChapterOrganizationMacroeconomicPolicyGoalsinanOpenEconomyInternalBalance:FullEmploymentandPrice-LevelStabilityExternalBalance:TheOptimalLeveloftheCurrentAccountInternationalMacroeconomicPolicyUndertheGoldStandard,1870-1914OriginsoftheGoldStandardExternalBalanceUndertheGoldStandardThePrice-Specie-FlowMechanismTheGoldStandard"RulesoftheGame":MythandRealityInternalBalanceUndertheGoldStandardTheInterwarYears,1918-1939TheGermanHyperinflationTheFleetingReturntoGoldInternationalEconomicDisintegrationCaseStudy:TheInternationalGoldStandardandtheGreatDepressionTheBrettonWoodsSystemandtheInternationalMonetaryFundGoalsandStructureoftheIMFConvertibilityInternalandExternalBalanceundertheBrettonWoodsSystemTheAutomaticBalance-of-PaymentsAdjustmentsunderFixedExchangeRates

AnalyzingPolicyOptionsundertheBrettonWoodsSystemMaintainingInternalBalanceMaintainingExternalBalanceExpenditure-ChangingandExpenditure-SwitchingPoliciesTheInternationalMonetarySystemafterJamaicaAccordsTheAutomaticBalance-of-PaymentsAdjustmentsunderFloatingRatesMacroeconomicInterdependenceUnderaFloatingRateTheCaseForFloatingExchangeRatesTheCaseAgainstFloatingExchangeRatesDirectionsforReform2、Chapter18chroniclestheevolutionoftheinternationalmonetarysystemfromthegoldstandardof1870-1914,throughtheinterwaryears,anduptoandincludingthepost-war Bretton Woods period. The chapter discusses the mechanismofadjustmentinthecontextofthediscussionofthegoldstandard.Conditionsforinternalandexternalbalancearepresentedthroughdiagrammaticanalysisbasedupontheshort-runmacroeconomicmodelofChapter16.Thisanalysisillustrates the strengths and weaknesses of alternative fixed exchange ratearrangements.Thechapteralsodrawsuponearlierdiscussionofbalanceofpaymentscrises to make clear the interplay between "fundamental disequilibrium" speculativeattacks.ThereisadetailedanalysisoftheBrettonWoodssystemthatincludesacasestudyoftheexperienceduringitsdeclinebeginninginthemid-1960sandculminatingwithitscollapsein1973.Thischapterpresentsthecurrentinternationalmonetarysystem,focusesonrecentexperience and the automatic balance-of -payments adjustments under floatingexchangerates.Thediscussioniscouchedintermsofcurrentdebateconcerningtheadvantagesoffloatingversusfixedexchangeratesystems.Thetheoreticalargumentsforandagainstfloatingexchangeratesframetwocasestudies,thefirstontheexperiencebetweenthetwooilshocksinthe1970sandthesecondontheexperiencesince1980.Thetransmissionofmonetaryandfiscalshocksfromonecountrytoanotherisalsoconsidered.Discussionoftheexperienceinthe1980spointsouttheshiftinpolicytowardgreatercoordinationinthesecondhalfofthedecade.Discussionofthe1990sfocusesonthestrongU.S.economyfrom1992onandtheextendedeconomicdifficultiesinJapan.Finally,thechapterconsiderswhathasbeenlearnedaboutfloatingratessince1973.CHAPTER19OptimumCurrencyAreasandtheEuropeanExperience(2periods)1、ChapterOrganizationHowtheEuropeanSingleCurrencyEvolvedEuropeanCurrencyReformInitiatives,1969-1978TheEuropeanMonetarySystem:1979to1998GermanyMonetaryDominanceandtheCredibilityTheoryoftheEMSTheEU1992InitiativeEuropeanEconomicandMonetaryUnionTheEuroandEconomicPolicyintheEuroZoneTheMaastrichtConvergenceCriteriaandtheStabilityandGrowthPactBox:DesigningandNamingaNewCurrencyTheEuropeanSystemofCentralBanksTheRevisedExchangeRateMechanismTheTheoryofOptimumCurrencyAreasEconomicIntegrationandtheBenefitsofaFixedExchangeRateArea:TheGGScheduleEconomicIntegrationandtheCostsofaFixedExchangeRateArea:TheLLScheduleTheDecisiontoJoinaCurrencyArea:PuttingtheGGandLLSchedulesTogetherWhatisanOptimumCurrencyArea?CaseStudy:IsEuropeanOptimumCurrencyArea?TheExtentofIntra-EuropeanTradeBox:HowMuchTradeDoCurrencyUnionsCreate?HowMobileisEurope'sLaborForce?OtherConsiderationsSummingUpTheFutureofEMU2、Europe'sswitchtoasinglecurrency,theeuro,isthesubjectofthischapter,andprovidesaparticularexampleofasinglecurrencysystem.ThechapterdiscussesthehistoryoftheEuropeanMonetarySystemanditsprecursors.TheearlyyearsofE.M.S.weremarkedbycapitalcontrolsandfrequentrealignments.Bytheendofthe1980s,however,therewasmarkedinflationconvergenceamongE.M.S.members,fewrealignmentsandtheremovalofcapitalcontrols.DespiteaspeculativecrisisinleaderspressedonwithplansfortheestablishmentofasingleEuropeancurrencyasoutlinedintheMaastrichtTreatywhichcreatedEconomicandMonetaryUnion(EMU).ThesinglecurrencywasviewedasanimportantpartoftheEC1992initiativewhichcalledforthefreeflowwithinEuropeoflabor,capital,goodsandservices.Thesinglecurrency,theeuro,waslaunchedonJanuary1,1999withelevenoriginalparticipants.Thesecountrieshavecededmonetaryauthoritytoasupranationalcentralbankandconstrainedtheirfiscalpolicywithagreementsonconvergencecriteriaandthestabilityandgrowthpact.Asinglecurrencyimposescostsaswellasconfersbenefits.Thetheoryofoptimumcurrencyareassuggestsconditionswhichaffecttherelativebenefitsofasinglecurrency.ThechapterprovidesawaytoframethisanalysisusingtheGG-LLdiagramwhichcomparesthegainsandlossesfromasinglecurrency.Finally,thechapterexaminestheprospectsoftheEUasanoptimalcurrencyareacomparedtotheUnitedStatesandconsidersthefuturechallengesEMUwillface.CHAPTER20TheGlobalCapitalMarket:PerformanceandPolicyProblems(4periods)ChapterOrganizationTheInternationalCap