International Finance

Author: He Zhang
Publisher:
Publish Date: 2003-03-01
Features: International Finance, written by Professor He Zhang, is a textbook developed to meet the needs of higher education teaching. The revised edition is divided into 14 chapters, introducing fundamental theories and knowledge in international finance and elaborating on the core content specified in the Ministry of Education's International Finance teaching syllabus. It provides a detailed overview of the major achievements of Western economists in the field of international finance, such as new developments in traditional purchasing power parity and interest rate parity theories, monetary analysis under sticky and flexible prices, the Dornbusch model that links Keynesianism and monetarism, as well as capital structure balance models and currency substitution models, among others. Comparative analysis and critiques are also included. The book is distinguished by its clear theoretical focus, comprehensive structure, strong logical coherence, and depth of theoretical insight, keeping pace with the forefront of the discipline. Additionally, the book makes a new attempt by including selected student assignments as appendices to certain chapters, offering students some inspiration on how to approach their own assignments. These appendices feature distinctive applications of economic models. Numerous case studies illustrate the application of these models, particularly in the context of real-world economic operations. This helps students understand why they should study economic models, how to study them, and how to interpret them. Teaching experiments have shown that this approach significantly enhances students' abilities, with students using this textbook achieving a much higher publication rate in academic papers compared to control groups.
Table of Contents
Introduction: How to Learn International Finance Models
Chapter 1: Exchange Rates
Section 1: Concepts of Foreign Exchange and Exchange Rates
Section 2: Determinants and Movements of Exchange Rates
Section 3: Economic Impacts of Exchange Rate Movements
Section 4: Exchange Rate Systems
Section 5: China's Exchange Rate Issues
Chapter 2: Balance of Payments
Section 1: Concepts of Balance of Payments
Section 2: Balance of Payments Statement
Section 3: Analysis of Balance of Payments
Section 4: Adjustment of Balance of Payments
Section 5: China's Balance of Payments
Chapter 3: International Reserves
Section 1: Concepts and Functions of International Reserves
Section 2: Supply and Demand of International Reserves
Section 3: Management of International Reserves
Section 4: China's International Reserves
Section 5: Cost-Benefit Analysis of International Reserves
Chapter 4: Foreign Exchange Controls
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