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MONEY, BANKING, AND FINANCE A
| Subtitle | Introduction to the theory of financial economics |
|---|---|
| Lecturer(s) | SATO, YUKI |
| Credit(s) | 2 |
| Academic Year/Semester | 2023 Spring (1st Half) |
| Day/Period | Mon.1/Tue.1 |
| Campus | Mita |
| Class Format | Online classes (mainly real-time format) |
| Registration Number | 91015 |
| Faculty/Graduate School | ECONOMICS |
| Department/Major | ECONOMICS PEARL COURSE |
| Year Level | 3, 4 |
| Field | MAJOR SUBJECTS CORE COURSES : F INSTITUTION AND POLICY |
| Course Description | Theoretical, empirical, and institutional aspects of finance will be covered. |
| K-Number | FEC-EC-34152-222-07 |
| Course Administrator | Faculty/Graduate School | FEC | ECONOMICS |
|---|---|---|---|
| Department/Major | EC | ECONOMICS | |
| Main Course Number | Level | 3 | Third-year level coursework |
| Major Classification | 4 | Major Subjects Course- Core Course | |
| Minor Classification | 15 | Lecture - Institution and Policy | |
| Subject Type | 2 | Elective required subject | |
| Supplemental Course Information | Class Classification | 2 | Lecture |
| Class Format | 2 | Online classes (mainly real-time format) | |
| Language of Instruction | 2 | English | |
| Academic Discipline | 07 | Economics, business administration, and related fields | |
Course Contents/Objectives/Teaching Method/Intended Learning Outcome
This course provides an introduction to the theory of financial economics. The major topics of modern finance will be covered in a rigorous way but with no claim to generality. The course assumes standard knowledge (Hiyoshi-level) of microeconomics, calculus and probability theory. The students who took my "Introduction to Finance A" in 2019 or "Money, Banking, and Finance B" in 2018 are not allowed to take this course for credit.
This is a seven-week intensive course in the first half of the spring term. All the classes will be held online. We have two classes each week. In the first class, you watch a lecture video to understand the main concept of the topic. The video is on-demand so you can watch it anytime, as many times as you wish. In the second class, all the students and I meet online (Zoom) live to discuss one or two problems related to the video you have watched. Here, you will work with two to five students together in a group (in Zoom’s Breakout Rooms).
The first part of the course (Weeks 1-2) is a refresher on the basic economic concepts used throughout the course, such as expected utility, choice under uncertainty, or competitive equilibrium. The second part (Weeks 3-6) covers standard portfolio-choice problems and equilibrium asset-pricing models such as the mean-variance model, CARA-normal model and the CAPM. The third part (Week 7) studies a basic market microstructure model with asymmetric information (Glosten-Milgrom model).
This is a seven-week intensive course in the first half of the spring term. All the classes will be held online. We have two classes each week. In the first class, you watch a lecture video to understand the main concept of the topic. The video is on-demand so you can watch it anytime, as many times as you wish. In the second class, all the students and I meet online (Zoom) live to discuss one or two problems related to the video you have watched. Here, you will work with two to five students together in a group (in Zoom’s Breakout Rooms).
The first part of the course (Weeks 1-2) is a refresher on the basic economic concepts used throughout the course, such as expected utility, choice under uncertainty, or competitive equilibrium. The second part (Weeks 3-6) covers standard portfolio-choice problems and equilibrium asset-pricing models such as the mean-variance model, CARA-normal model and the CAPM. The third part (Week 7) studies a basic market microstructure model with asymmetric information (Glosten-Milgrom model).
Course Plan
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Method of Evaluation
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Textbooks
No required textbook. Lecture notes will be provided.
Reference Books
Danthine & Donaldson, Intermediate Financial Theory, Elsevier.
Mas-Colell, Whinston, & Green, Microeconomic Theory, Oxford University Press.
Mas-Colell, Whinston, & Green, Microeconomic Theory, Oxford University Press.
Lecturer's Comments to Students
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Question/Comments
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