SQA HND Financial Sector金融业导论 授课.ppt

Financial Sector: An Introduction 授课教师： 黄勇 博士 Introduction 1. 本课程的Outcomes: Financial Institutions Capital Markets Money Markets 2. 本课程的Assessment Information: One formative Assessment A case study Six restricted response questions should be completed in not more than two hours. will be permitted to bring notes Section 1 1. Economic agents (finance): Surplus units Deficit units A bank: financial intermediary ——to achieve a double coincidence of wants Financial institution acting as principal, not as a agent —— example of a unit trust Relationship of a contract nature 2. Two kinds of financial intermediary: Direct lending: ——coping with the problem of liquidity Secondary market Deposit-taker Indirect lending: ——not offering the liquidity, e.g. pension funds ——solve the problem of matching surplus and deficit units Matching problems (P. 25): Maturity Amount Risk Location 3. Function of financial intermediary maturity transformation aggregation of small deposits risk transformation Section 2 Importance of money 1. The concept of money Cash: bank notes, coins ——advantage of cash ——a quick and convenient method ——disadvantage of cash(P.36) Cheque ——handling cost Credit card: MasterCard, VISA debit card: Maestro, Delta Quasi-cash: tokens, vouchers, coupons Bank giro credit: for a one-off payment Standing order: for fixed regular payments ——typically used to pay rent, mortgage, etc. Direct debit: for varying amount payments ——used to make recurring payments for credit card or utility bills Postal order/money order: is a payment order for a pre-specified amount of money Store cards ——are subject to interest charges 2. History of money Definition of money (P.39) shells: Polynesian salt: Romans tobacco: prisoners Definition of legal tender (P.42) 3. Barter: a society without cash examples of barter today difficulties of barter 4. Qualities of money general acceptability durabilit