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Textbook:A Systems Perspective on Financial Systems
Author(s): Jeffrey Yi-Lin Forrest
College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing, China
Department of Mathematics, Slippery Rock University,
Slippery Rock, PA, USA
Course description:
This course explores the role of money in the economy, how financial institutions and financial markets function, and how international monetary capital is turned over and circulates by employing some of the most recent scientific breakthroughs in systems research, this book addresses many issues of concern related to money and finance, while reflecting some of the most exciting progresses in the recent investigations of money and banking. The purpose of this course is to establish a new unified analytical framework and logic of economic thinking, on the basis of systems thinking in general and the systemic yoyo model in particular, to study money, banking, and internationalfinancial markets. This provocative logic of thinking and new analytic framework will lead the reader’s learning by using the basic economic principles while providing the help for the reader to comprehend the regional and international financial markets, management of banks, and the roles of money in the economy.
Based on the logical order and structural arrangement from macro- to micro-scales, and from the financial operations of money and banking of one nation to those of the international landscape, this course presents a rigorous yet complete thread of logical reasoning and theoretical system of the specific subject matter. This book adopts the method of model analysis, established on the intuition of the systemic yoyo structure, to carefully depict those stable and invariant economic variables, to clearly derive, and to rigorously analyze the models through step-by-step procedures. After establishing all these careful underlying theoretical foundations, various economic phenomena are explained on top of these established models. Such detailed, step-by-step model approach surely makes the learning of this relatively challenging subject matter easier and more systematic for the reader.
This course concludes with an empirical analysis on the development of China’s monetary and financial industry. Although since the time it began its economic reform and opened itself up to the rest of the world over thirty years ago in the early 1980s, China’s capital market has developed considerably, the development of its capital markets still lags behind severely and has been seriously hampering the improvement in the efficiency of macroeconomic monitoring and regulation. With China’s entrance into the WTO, will Chinese financial sector, which will soon be fully liberated with foreign capital, have enough strength and hands-on experience to stand against “long-range precision strikes’’ of financial derivatives and other financial means? This concern makes people worry about and ponder over the self-defense capability of the Chinese financial system, and in turn about the economic future of China. Even if for the time being one puts aside all issues regarding the exchange rate of RMB and the foreign exchange reserve of over three trillion dollars, one still has to concern about China’s situation and position in the game played along with the political hot money, which flows across national borders and out of the sight of normal financial operations. How to speed up the development of China’s capital and financial markets has been an important theoretical and practical problem that has concerned with the efficiency of China’s monetary policies. This course, considering its unconventional theoretical foundation, is expected to provide a scientifically sound methodology that can be potentially employed to resolve these and other relevant problems.
A Systems Perspective on Financial Systems.pdf
(4.48 MB, 需要: RMB 19 元)
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