宏观经济学曼昆版PPT.pptVIP

Copyright ? 2004 South-Western Copyright ? 2004 South-Western 27 The Basic Tools of Finance In this chapter, we are going to study… The concept of present value and its calculation Ways of managing risks Diversification of idiosyncratic risk Fundamental analysis Efficient markets hypothesis Finance is the field that studies how people make decisions regarding the allocation of resources over time and the handling of risk. PRESENT VALUE: MEASURING THE TIME VALUE OF MONEY Present value refers to the amount of money today that would be needed to produce, using prevailing interest rates, a given