《经济学专业英语教程（第三版下）》Unit5投资.ppt

Unit 5 Text: Investments （投资） 1. Key words 2. Definition of investment environment and process 3. Investment environment 4. Investment process 5. Questions 1. Key words 2. Definition of investment environment and process 2.1 Definition of investment 2.2 Real investment and financial investment 2.3 Definition of investment environment 2.4 Definition of investment process 2.1 Definition of investment Investment, in its broadest sense, means the sacrifice of current dollars for future dollars. Two different attributes are generally involved: time and risk. 2.2 Real investment and financial investment 2.2.1 Real investment Real investments generally involve some kind of tangible assets, such as land, machinery, or factories. 2.2.2 Financial investment Financial investments involve contracts written on pieces of paper, such as common stocks and bonds. 2.3 Definition of investment environment The investment environment encompasses the kinds of marketable securities that exist and where and how they are bought and sold. 2.4 Definition of investment process The investment process is concerned with how an investor should proceed in making decisions about what marketable securities to invest in, how extensive the investments should be, and when the investments should be made. 3. Investment environment 3.1 Securities 3.2 Security markets 3.3 Financial intermediaries 3.1 Securities 3.1.1 Definition of security 3.1.2 The rate of return of security 3.1.1 Definition of security In general, only a piece of paper represents the investor’s rights to certain prospects or property and the conditions under which he or she may exercise those rights. This piece of paper, serving as evidence of property rights, is called a security. It may be transferred to another investor, and with it will go all its rights and conditions. Therefore, the term security is used to refer to a legal representation of the right to receive prospective future benefits under stated condit