91吃瓜

91吃瓜 2018年进行自命题招生复试，复试包括以下经济所5个科目，金融所1个科目：

F2901经济所： 劳动经济学， 健康经济学， 产业组织学，运输经济学，发展经济学

F2902 金融所：金融学

以上所有复试科目均为英语命题，考生可选择英文或中文作答，参加中心复试的考生（包括调剂考生）复习大纲及参考资料公布如下：

Ⅰ. 申报复试专业课笔试为经济所5个科目，共一套试题。

ⅰ.Outline:

1. The basic principles of demand and supply

2. Consumption theory, income effect and substitution effect.

3. Production theory: production function, cost function, and profit maximization.

4. Market structure: perfect competition, monopoly, monopolistic competition and oligopoly.

5. Game theory

6. Asymmetric information

7. Externality and public goods

8. Government intervention

9. General equilibrium, economic efficiency, and economic welfare.

10. Labor demand: where does it come from?

11. Labor demand elasticity

12. Labor supply: what determines it?

13. Human capital and education

14. Migration

15. Discrimination in the labor market

16. Union

17. Unemployment

18. Properties of OLS estimator

19. t-test, F-test

20. Dummy variable

21. How to solve the problems of heteroskadesticity, collinearity, and autocorrelation?

22. Simultaneous equation system

a). R. G. Ehrenberg and R. S. Smith, Modern Labor Economics—Theory and Public Policy, any edition, Addison Wesley.

b). Introductory Econometrics: A Modern Approach, by Jeffrey M. Wooldridge, 任何一个版本均可.本书只需学习1-8章内容。

c) .Microeconomics, by Robert Pindyck and Daniel Rubinfeld,任何一个版本均可。

d) .Microeconomic Theory: Basic Principles and Extensions, by Walter Nichoson,任何一个版本均可.

Ⅱ. 申报复试专业课笔试科目为F2902金融学方向，共一套试题。

ⅰ.Outline:

Corporate Finance:

1. Three basic types of business organizations and their characteristics (Sole Proprietorship, Partnership and Corporation), Limited liability

2. Capital budget (investment) Decision and Financing Decision

3. Present Value (PV), discount factor and Future value (Simple interest and Compound interest)

4. PV of multiple cash flows: Perpetuities and annuities, effective annual rates (annual compounded rate) and APR

5. Real interest and Nominal interest

6. Present Value of a bond, Yield to maturity

7. Dividend Discount Model

8. Plowback Ratio, Payout Ratio, Sustainable Growth Rate

9. Investment Criteria: NPV, Payback Period, Internal Rate of Return (IRR)

10. Return, measure of risk--variance and standard deviation, Risk premium

11. Portfolio return and STD

12. Market risk and unique risk, Diversification

13. Beta, Portfolio Beta

14. Market Risk premium

15. CAPM, security market line

16. Weighted Average Cost of Capital (WACC)

17. MM proposition I, II;

18. Debt Ratio, Equity Ratio, Debt-Equity Ratio, Leverage, financial risk

19. Capital Structure and Corporate Taxes, PV tax shields, Annual tax shield

20. Costs of financial distress, Trade-off Theory

21. Value of levered firm = value if all equity financed (unlevered) + PV tax shield – PV financial distress

22. Pecking Order Theory

23. Cash dividend and stock dividend, Stock split, Stock repurchase

24. Balancing item, Percentage of sales models

25. Required external financing, Internal Financing

26. Internal growth rate, Sustainable growth rate

    Investments:

1. The difference between real assets and financial assets

2. The risk-return trade-off

3. Characteristics of common stock

4. Buying on margin and short sales

5. Risk and risk premium

6. Asset allocation across risky and risk-free portfolios

7. Passive strategies and the capital market line

8. Efficient diversification: the optimal risky portfolio with a risk-free asset, the efficient frontier of risky assets, choosing the optimal risky portfolio, the preferred complete portfolio and the separation property

9. The Capital Asset Pricing Model: The risk premium of market portfolio, the security market line, the index model, realized returns, and the mean-Beta equation

10. The efficient market hypothesis

11. Bond characteristics: the difference between Treasury bonds and corporate bonds

12. Bond pricing and bond yields

13. Bond prices over time

14. Interest rate sensitivity of bond price

15. The difference between call option and put option

a) Fundamentals of Corporate Finance, by Richard A. Brealey, Stewart Myers and Alan Marcus, 7th ed., McGraw-Hill.

b) Essentials of Investments, by Zvi Bodie, Alex Kane, and Alan Marcus, 9th ed., McGraw-Hill.

报考经济研究所复试方向的考生，进入中心后的最终学习方向将根据经济研究所培养方向计划及学生兴趣进行调整。报考金融所方向的考生不参与此项调整。如有问题请致电中心行政办公室：0731-88684822。