課程名稱︰貨幣銀行學
課程性質︰經濟系必修
課程教師︰陳南光
開課系所︰經濟系
考試時間︰11/10/2004
試題 :
1.
(1)你認為Menger的演化論貨幣起源說能夠解釋人們為何突然不接受法定貨幣嗎?為什麼?
(2)19世紀美國銀行所發行banknotes的特性與目前的fiat money有何差異?
又與未來的e-money有何共同處?
(3)政府存款與信用卡消費餘額應計入M2嗎?理由分別為何?
(4)我們知道股市是提供企業融資的管道之一，但是我們在股市買賣證券只是投資人甲與
乙之間的買賣，廠商並沒有從中獲取資金。請解釋並說明股市交易的作用何在。
(5)中央銀行辦理六千億元優惠購屋貸款專案，貸款期限20年。台北市每戶以200萬元為
上限。若購買台北市房價1000萬元，銀行核貸擔保放款金額為800萬元，則200萬元適
用優惠貸款利率4%，其餘600萬元是用承辦金融機構一般購屋貸款利率5%。你每個月的
房貸負擔是多少錢??(只須寫出算式。)
(6)M1B中有哪些是銀行的負債??
(7)Suppose the government change the maximum percentage of bank's asset that
can be invested in equity stocks from time to time,what is the problem of
the central bank's definition of direct financing?
(8)Suppose the nominal interest rate is initially at 3% and we observe that
after an increase in money supply the interest rate lowers to 2% and then
gradually climbs to 4%.Explain what effects are at work during the
process of adjustment?
(9)Consider you purchase a 2-year coupon bond which pays a 5% coupon rate.
The face calue is $100.The YTM is 3%.What is the market price of this bond?
Is the current yield higher or lower than YTM??
(10)Which intrinsic property is associated with the "Gresham's Law?"
(11)Is a legal tender must be a medium of exchange at any time?
Is a MOE must be legal tender ? Why?
(12)Can an inverstor avoid all the risks by diversifying her portfolio?
2.Discuss the following financial instruments from the aspects of (i)debt vs.
equity contract;(ii)whether collateralized or not:
(1)Repurchase agreements
(2)Commercial papers issued by a corporation
3.consider you have an income of $100 and two choices for investing you money.
There is a safe asset with a rate of return=0.05.Another is a risky asset
which pays a rate of return,r1=0.01 with probability of 0.75,and a rate of
return r2=0.2 with probability 0.25.Supose you are risk averse.
(1)Will you invest a positive amount in the risky asset?why?
(2)Suppose now the payoffs of risky asset bocomes the following: it pays a
rate of return r1=0.02 with probablity of 0.75,and a rate of return
r2=0.15 with probability 0.25.will you invest a positivee amount in the
risky asset? why??
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