Week 13 The effectiveness Suhua Tian(2010) Comment on the Understand the (Learning by and implementation Ch 12; Lane, policy of Tobi effectiveness of selection) mechanism of (2001) Tax; What are the monetary policy in monetary policy constraining different exchange an open economy factors of using rate regimes; Tobin tax to enhance a central relations between capital flows and authority to set the independent monetary policy authority to set in a capital flow the necessity of environment? international cooperation in setting monetary Week 14 dyna Suhua Tian(2010) List the types ofCommand consistency rules of monetary premise of"play premise and types of Taylor(1998) policy and give by the rules rules of monetary policy”and policy discretion Acknowledge the tool rules and target rules of Week 15 Review: Final Exam: Class discussion Gradin g Students are required to do homework and class discussion, which account for about 40% of the grade The other 60% is left for a close-book final examination Online sources: The outline of this course, PowerPoint for teaching and the requirements for homework can all be downloaded on FUDAN university E-learning platform5 Week 13 (Learning by selection) The effectiveness and implementation mechanism of monetary policy in an open economy Suhua Tian (2010) Ch.12; Lane, （2001） Comment on the policy of Tobin Tax; What are the constraining factors of using Tobin Tax to enhance a central bank’s independent authority to set monetary policy in a transnational capital flow environment? Understand the effectiveness of monetary policy in different exchange rate regimes; Know the relations between transnational capital flows and the independent authority to set monetary policy; the necessity of international cooperation in setting monetary policy Week 14 Dynamic Inconsistency; The premise and types of rules of monetary policy Suhua Tian (2010) Ch.13; Taylor(1998) List the types of rules of monetary policy and give out examples Command the premise of “play by the rules policy” and “discretion policy”; Acknowledge the tool rules and target rules of setting monetary policy Week 15 Review; Final Exam; Class discussion Grading: Students are required to do homework and class discussion, which account for about 40% of the grade. The other 60% is left for a close-book final examination. Online sources: The outline of this course, PowerPoint for teaching and the requirements for homework can all be downloaded on FUDAN university E-learning platform