金融专业英语阅读第二版课件沈素萍主编 ISBN9787566300065 PPTChapter 1Monetary Policy.pptVIP

Chapter 1 Monetary Policy I . Open Questions 1. How does a national government use monetary policy to influence its economy? 2. What are the problems caused by issuing paper money? 3. How does modern central banking come into force? 4. What are the relevant measures of money supply? And how does monetary policy function at the extremes? 5. What are the three available instruments to the central bank in order to implement monetary policy? How do they function? II. Teaching Plan This chapter will cover 3 hours. 2 hours for the introduction of background information and explanations of terms and the texts. And the other 1 hour for discussion and practice. III. Teaching Methods Translation of key sentences Paraphrasing of key words and expressions Explanation of new terms Summarizing of key passages Discussion of important issues Questions and answers: interaction between teachers and students IV. Background The origin of monetary policy dates back to the late 19th century, where it was used to maintain the gold standard. A variety of tools are used to influence economic growth and stability, inflation, unemployment and exchange rates with other currencies. Where exclusive monopoly to issue currency and banknotes is legislated, the monetary authority is able to influence the money supply and hence the interest rate. V. Special Terms Monetary policy 货币政策 a central bank’s actions to influence the availability and cost of money and credit, as a means of helping to promote national economic goals. Tools of monetary policy include open market operations, discount policy and reserve requirements. 指中央银行通过影响货币及信贷供给和费用，来达到国家经济增长目标的方式。货币政策的工具包括公开市场操作、贴现政策和法定储备金。 Gold standard金本位 a monetary system in which currency is convertible into fixed amounts of gold. The US dollar used to be on the gold standard but was taken off in 1971. 在该货币制度下，货币可兑换一定重量的黄金。美国曾实行金本位制，但于1971年停止实行该体制。 Narrow money supply 狭义货币供应量 the monetary base (MO) is the term used to de