米什金货币金融学ppt

这是米什金货币金融学ppt，包括了研究货币、银行和金融市场的原因，金融市场，债券市场和利率，股票市场，货币与经济周期，国际金融，利率数据的Excel图示等内容，欢迎点击下载。

米什金货币金融学ppt是由红软PPT免费下载网推荐的一款课件PPT类型的PowerPoint.

Chapter 1 Why Study Money， Banking， and Financial Markets? 为什么研究货币、银行和金融市场 Why Study Money， Banking， and Financial Markets 研究货币、银行和金融市场的原因 To examine how financial markets such as bond， stock and foreign exchange markets work 考察诸如债券、股票以及外汇市场的运行机制 To examine how financial institutions such as banks and insurance companies work 考察诸如银行和保险公司等金融机构的运行机制 To examine the role of money in the economy 考察在整体经济运行过程中货币所发挥的作用 Financial Markets金融市场 Markets in which funds are transferred from people who have an excess of available funds to people who have a shortage of funds （金融）市场是资金从拥有闲置资金的人那里转移到资金短缺者手中的场所 The Bond Market and Interest Rates 债券市场和利率 A security (financial instrument) is a claim on the issuer’s future income or assets 证券（金融工具）是对于发行者的未来收益或者资产的一种求偿权 A bond is a debt security that promises to make payments periodically for a specified period of time 债券是承诺在约定期限内定期偿付的债务证券 An interest rate is the cost of borrowing or the price paid for the rental of funds 利率是借款的成本或者是用于偿付资金租费的价格 FIGURE 1 Interest Rates on Selected Bonds， 1950–2008图1 1950～2008年部分债券利率 Sources: Federal Reserve Bulletin; www.federalreserve.gov/releases/H15/data.htm. The Stock Market股票市场 Common stock represents a share of ownership in a corporation 普通股股票代表了其持有人对于公司具有一定份额的所有权 A share of stock is a claim on the earnings and assets of the corporation一股股票代表了对于公司的资产和收益所具有的求偿权 FIGURE 2 Stock Prices as Measured by the Dow Jones Industrial Average， 1950–2008 图2 1950～2008年以道琼斯工业平均指数显示的股票价格情况 Source: Dow Jones Indexes: http://finance.yahoo.com/?u. Financial Institutions and Banking 金融机构和银行 Financial Intermediaries: institutions that borrow funds from people who have saved and make loans to other people 金融中介机构：是指那些向储蓄者借入资金并且向其他需要资金的人提供贷款的机构 Banks: accept deposits and make loans 银行: 吸收存款并且发放贷款 Other Financial Institutions: insurance companies， finance companies， pension funds， mutual funds and investment banks 其他金融机构：保险公司、金融（财务）公司、养老基金、共同基金以及投资银行等 Financial Innovation: in particular， the advent of the information age and e-finance 金融创新：特别是在信息时代和电子金融兴起的条件下涌现出来 Financial Crises金融危机 Financial crises are major disruptions in financial markets that are characterized by sharp declines in asset prices and the failures of many financial and nonfinancial firms. 金融危机是指以资产价格的急剧下跌以及大量金融机构和非金融类企业的破产倒闭为特征的金融市场出现的严重崩溃现象 Money and Business Cycles货币与经济周期 Evidence suggests that money plays an important role in generating business cycles 实证研究结果表明货币在经济周期的产生过程中发挥了重要的作用 Recessions (unemployment) and expansions affect all of us 经济衰退（失业）和经济扩张对于每一个人都会产生影响 Monetary Theory ties changes in the money supply to changes in aggregate economic activity and the price level 货币理论考察的是货币供应的数量变化与总体经济活动和物价水平的变化之间的关系 FIGURE 3 Money Growth (M2 Annual Rate) and the Business Cycle in the United States， 1950–2008 图3 1950～2008年美国的货币供应量增长（M2年增长率）与经济周期情况 Note: Shaded areas represent recessions. 注：阴影部分为经济衰退 Source: Federal Reserve Bulletin， p. A4， Table 1.10; www.federalreserve.gov/releases/h6/hist/h6hist1.txt. Money and Inflation货币与通货膨胀 The aggregate price level is the average price of goods and services in an economy 物价总水平是指经济中商品和服务的平均价格 A continual rise in the price level (inflation) affects all economic players 物价总水平的持续上升（通货膨胀）将会对于所有经济主体产生影响 Data shows a connection between the money supply and the price level 有关数据表明货币供应量和物价总水平之间存在着联系 FIGURE 4 Aggregate Price Level and the Money Supply in the United States， 1950–2008 图4 1950～2008年美国的物价总水平和货币供应量 Sources: www.stls.frb.org/fred/data/gdp/gdpdef; www.federalreserve.gov/releases/h6/hist/h6hist10.txt. FIGURE 5 Average Inflation Rate Versus Average Rate of Money Growth for Selected Countries， 1997–2007 图5 1997～2007年部分国家平均通货膨胀率与货币供应量平均增长比率 Source: International Financial Statistics. Money and Interest Rates货币与利率 Interest rates are the price of money 利率是货币的价格 Prior to 1980， the rate of money growth and the interest rate on long-term Treasury bonds were closely tied 20世纪80年代以前，货币供应量的增长和美国长期国债利率之间存在着密切的联系 Since then， the relationship is less clear but the rate of money growth is still an important determinant of interest rates 20世纪80年代以后，两者之间的关系变得比较模糊，然而货币供应量的增长依然是利率的重要影响因素之一 FIGURE 6 Money Growth (M2 Annual Rate) and Interest Rates (Long-Term U.S. Treasury Bonds)， 1950–2008 图6 1950～2008年货币供应量增长（M2年增长率）和利率（美国政府长期国债）情况 Sources: Federal Reserve Bulletin， p. A4， Table 1.10; www.federalreserve.gov/releases/h6/hist/h6hist1.txt. Monetary and Fiscal Policy货币政策与财政政策 Monetary policy is the management of the money supply and interest rates 货币政策是指对于货币和利率的管理 Conducted in the U.S. by the Federal Reserve System (Fed) 在美国，货币政策是由联邦储备体系(Fed)来执行的 Fiscal policy deals with government spending and taxation 财政政策是对于政府支出和税收问题的管理 Budget deficit is the excess of expenditures over revenues for a particular year 预算赤字是指在特定的一年中政府的支出超过税收收入的差额 Budget surplus is the excess of revenues over expenditures for a particular year 预算盈余是指在特定的一年中政府税收收入超过支出的差额 Any deficit must be financed by borrowing 预算赤字必须通过借款来弥补 FIGURE 7 Government Budget Surplus or Deficit as a Percentage of Gross Domestic Product， 1950–2008 图7 1950～2008年政府预算盈余或预算赤字占国内生产总值的百分比 Source: www.gpoaccess.gov/usbudget/fy06/sheets/hist01z2.xls. The Foreign Exchange Market 外汇市场 The foreign exchange market is where funds are converted from one currency into another 外汇市场是指进行货币兑换活动的场所 The foreign exchange rate is the price of one currency in terms of another currency 外汇汇率是指一个国家货币对于另一个国家货币的价格 The foreign exchange market determines the foreign exchange rate 外汇市场决定了外汇汇率 FIGURE 8 Exchange Rate of the U.S. Dollar， 1970–2008 图8 1970～2008年美元汇率变动情况 Source: Federal Reserve: www.federalreserve.gov/releases/H10/summary/indexbc_m.txt/. International Finance国际金融 Financial markets have become increasingly integrated throughout the world.在全世界范围内，金融市场的一体化趋势不断增强 The international financial system has tremendous impact on domestic economies:国际金融体系对于各国的国内经济活动具有极为重要的影响 How a country’s choice of exchange rate policy affect its monetary policy? 一个国家汇率政策的选择是如何影响到这个国家的货币政策的？ How capital controls impact domestic financial systems and therefore the performance of the economy? 资本管制措施对于国内金融体系和整体经济绩效会产生什么样的影响 ? Which should be the role of international financial institutions like the IMF? 诸如国际货币基金组织（IMF）之类的国际金融机构应该发挥什么样的作用 ? How We Will Study Money， Banking， and Financial Markets我们在研究货币、银行和金融市场过程中使用的方法 A simplified approach to the demand for assets 资产需求分析的简化方法 The concept of equilibrium 均衡的概念 Basic supply and demand to explain behavior in financial markets 用于解释金融市场行为的基本供求分析方法 The search for profits 对利润的追求 An approach to financial structure based on transaction costs and asymmetric information 基于交易成本和信息不对称理论的金融结构分析方法 Aggregate supply and demand analysis 总供给—总需求分析方法 FIGURE 9 Federal Reserve Board Website 图9 联邦储备委员会网站 FIGURE 10 Excel Spreadsheet with Interest-Rate Data图10 利率数据的Excel表格 FIGURE 11 Excel Graph of Interest-Rate Data 图11 利率数据的Excel图示IGc红软基地