• Course in Charge: Applied Finance
• Research Subject: Broadly defined, my research interests span financial economics, derivative securities and empirical finance, but I have studied most extensively asset pricing, such as options, stocks, and the term structure of interest rates. Current directions of my research are (1) to investigate a relationship between asset returns and monetary variables, considering of learning effects and (2) to develop forecasting models of asset returns and macro variables (e.g., inflation and real output) and evaluate their performance. Main topics to be discussed in classes include (1) analyses of fair pricing of financial securities such as stocks, bonds, and derivatives, and (2) the basics and applications of the capital asset pricing model (CAPM) and arbitrage pricing theory (APT) that are used to formulate relations between risks and returns of financial assets.

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