課程名稱︰國際金融
課程性質︰必修
課程教師︰曹添旺
開課學院：社會科學院
開課系所︰經濟系
考試日期（年月日）︰2013/2/11
考試時限（分鐘）：09:10~12:00 (170min)
是否需發放獎勵金：是
（如未明確表示，則不予發放）
試題 :
1A. (20%)
Show the debit and credit entries in each balance-of-payment account,
goods, services, income, unilateral transfers, the current account, and
the financial account, for the following transactions.
a. A local collage student travels abroad for the holidays and spends
$1000 on food and lodging.
b. A local auto dealership imports a $20000 automobile.
c. The home government gives a drought-stricken nation $1 million as a
humanitarian gesture.
d. You receive a $100 interest payment on a foreign government bond you
own.
1B. (15%)
Based on your answer to Question 1A, what is the home nation's:
a. Balance on goods and services?
b. Current account balance?
c. Financial account balance?
2. (15%)
Consider an increase in a country's budget deficit. What must happen to
private saving, investment, or the current account, according to the
national saving identity?
3. (10%)
Suppose the dollar interest rate and the pound sterling interest rate
are same, 5 percent per year. What is the relation between the current
equilibrium $/￡ exchange rate and its expected future level? Suppose
the expected future $/￡ exchange rate, $1.52 per pound, remains constant
as Britain's interest rate rise to 10 percent per year. If U.S. interest
rate also remains constant, what is the new equilibrium $/￡ exchange rate?
4. (20%)
Construct a model of foreign exchange market to discuss the effects of
a rise in the domestic interest rate on the exchange rate.
5. (20%)
Explain graphically why (holding interest rate constant) a rise in the
expected depreciation in a country's currency leads to depreciation of
that currency today.
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