China’s Financial System

Catalog description

This course introduces the institutions and instruments of the Chinese financial system as well as relevant macroeconomic policy tools as they play a role in the broader Chinese economy. The goal of the course is to provide students with a comprehensive understanding based on monetary and financial economics from a comparative and historical standpoint. The teaching proceeds in three stages: (1) introductory redux in monetary and financial economics (2) historical and comparative overview of the evolution of China’s financial system and macroeconomic policy in the context of international financial arrangements (3) in-depth analysis of current topics in the field. Some of the topics covered include the Chinese banking system, RMB exchange rates, Chinese stock markets and bond markets, mutual fund and hedge fund industry, security dealers and money markets, Chinese derivative markets, green finance arrangements, real estate markets and state owned companies. The similarities and differences between Chinese financial markets and more developed financial markets will be highlighted. Prerequisite or Co-requisite: Principles of Macroeconomics ( ECON-SHU 1 or equivalent) or Economics of Global Business ( ECON-SHU 251 or equivalent). Fulfillment: CORE IPC; Economics Elective.