Elisabeth Luce Moore ’24 Internships in Asia: Hong Kong Monetary Authority December 9, 2007
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Intern at HKMA
Elisabeth Luce Moore ’24 Internships in Asia
Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) is Hong Kong’s central banking institution and was established on 1 April 1993 by merging the Office of the Exchange Fund with the Office of the Commissioner of Banking. Its main functions and responsibilities are governed by the Exchange Fund Ordinance and the Banking Ordinance and it reports to the Financial Secretary. The HKMA is the government authority in Hong Kong responsible for maintaining monetary and banking stability. Its main functions are:
keeping the Hong Kong dollar stable;
managing the Exchange Fund – Hong Kong’s official reserves – in a sound and effective way;
promoting the safety of Hong Kong’s banking system;
developing Hong Kong’s financial infrastructure to enable money to flow smoothly, freely and without obstruction;
The HKMA’s policy objectives are:
to maintain currency stability, within the framework of the linked exchange rate system, through sound management of the Exchange Fund, monetary policy operations and other means deemed necessary;
to promote the safety and stability of the banking system through the regulation of banking business and the business of taking deposits, and the supervision of authorised institutions; and
to enhance the efficiency, integrity and development of the financial system, particularly payment and settlement arrangements.
Internship Description:
The intern at the HKMA will work in the market surveillance team of the Market Research Division. The internship has two main components. The first component is to assist in constructing and refining a database for monitoring money and financial stability in Asia Pacific. This involves finding raw data, computing indicators, and organizing them for the use of the regional Monetary and Financial Stability Committee of the EMEAP, an organization composed of eleven central banks in Asia Pacific. The second component involves providing research assistance to the economist in research projects on financial market surveillance. The research office at the HKMA will provide the intern the opportunity to work with a truly international team.
Ideal Internship Qualification:
| Logistical: Strong Academic background Excellent written and oral communication skills Interest in economics, political science, or International relations |
Personality: Motivated Professional |
Experience an academic environment at workplace where economic and mathematical skills are applied to asses real world issues. Interns will learn about the structure and roles of HKMA in Hong Kong’s economy and its relations to the world economy. This internship is a good opportunity for students with a keen interest in economic and market research to explore areas of their interest under supervision of professional economists at HKMA. More importantly, this is a first hand experience in the field of policy research in monetary and financial economics. As an intern, you will learn to work in a team to prepare data sets and reports on economic indicators. During the course of your internship, you are expected to finish one research project whose topic is determined by both you and your supervisor. The familiarization and orientation programs will provide briefings on different divisions as well as opportunities to meet executive members and other interns at HKMA.
Jaree
Class of 2009