01米什金《货币金融学-英文第12版》PPT-第一章--为什么研究货币、银行和金融市场.pdfVIP

Finance

Chapter1Introduction

WhyStudyMoney,Banking,andFinancialMarkets

AnOverviewoftheFinancialSystem

WhatIsMoney?

Lecture1

WhyStudyMoney,Banking,andFinancialMarkets?

•CourseOverview

•WhyStudyFinancialMarkets?

•WhyStudyFinancialInstitutionsandBanking?

•WhyStudyMoneyandMonetaryPolicy?

LearningObjectives：

Howtoconstructapreliminaryfinancialknowledgesystem

Typesoffinancialmarkets

Typesoffinancialinstitutions

Howthecentralbankimplementmonetarypolicy

Whatismonetarytheory

Part1

WhyStudyFinancialMarkets?

1.1FinancialMarkets

FinancialMarkets(P2)：Marketsinwhichfundsaretransferredfrom

peoplewhohaveanexcessofavailablefundstopeoplewhohaveashortage.

金融市场：资金从那些可用资金过剩的人转移到资金短缺的人的市场。

Whystudyfinancialmarkets?

•Channelfundsfromsaverstoborrowers,therebypromotingeconomic

efficiency

•Affectpersonalwealthandbehaviorofbusinessfirms

1.2TheBondMarketandInterestRates

Bond(P3)isadebtsecuritythatpromisestomakeperiodicpaymentsfor

aspecifiedperiodoftime.

债券：是一种债务性证券，承诺在一个特定时间段内定期支付。

1.2TheBondMarket

andInterestRates

1.2TheBondMarketandInterestRates

Interestrate(P3):isthecostofborrowingorthepricepaidfortherentalof

funds(usuallyexpressedasapercentageoftherentalof$100peryear).

利率：是借款的成本或为借入资金支付的价格（通常表示为借入100美元所支付的

利息占100美元的百分比）。

E.g.

Mortgageinterestrates抵押贷款利率

Carloanrates汽车贷款利率

1.2TheBondMarketandInterestRates

1.3TheStockMarket

Stock(P3)representsashareofownershipinacorporation.

Itisasecuritythatisaclaimontheearningsandassetsofthecorporation.

股票代表公司的所有权,是对公司收益和资产的索取权。

Issuingstockandsellingittothepublicisawayforcorporationstoraise

fundstofinancetheiractivities.

公司为其业务活动筹资的一个重要途经就是发行股票并将其出售给公众

1.3TheStockMarket

1.4TheForeignExchangeMar