This is a current follower or buffer amplifier circuit, using a MOSFET. The output is simply equal to the input minus about 2.2 V. The advantage of this circuit is that the MOSFET can provide current and power gain; the MOSFET draws no current from the input. It provides a low output impedance to any circuit using the follower's output, which means the output will not sag under load. Its output resistance is not as low as that of an emitter follower using a bipolar transistor (you can verify this by connecting a resistor from the output to -15 V), but it has the advantage that the input resistance is infinite.
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