金融市场学Topic One教学教案.pptVIP

Topic One;Finance：is the study of how people allocate scare resources over time (R. Merton). Two features of financial decisions are: Spread out over time; Usually not known with certainty in advance by either the decision makers or anybody else. ;Financial system: the set of markets and other institutions used for financial contracting and the exchange of assets and risks. Markets for: stocks, bonds, and other financial instruments; Financial intermediaries: banks, funds, insurance companies; Financial service firms (such as financial advisory firms); Regulatory bodies (govern all of thes