InternationalFinance2009-2.ppt

International Finance (2008) Chapter 2 Payments among nations inter-finance09@163.com? Password: tuesday123 Topics covered Microeconomics and Macroeconomics Introduction to balance of payments The macro meaning of the current account balance Microeconomics and Macroeconomics Microeconomics It studies the effective use of scarce resources from the perspective of individual firms and consumers. 微观经济学研究的是经济社会中经济个体的经济行为，这里的经济个体包括消费者、生产者(企业)和要素所有者等。这些经济个体或经济单位又通过市场产生相互联系、相互影响和相互作用. 。微观经济学阐述经济社会中的经济个体根据什么和怎样做出经济决策，例如：消费者怎样作出购买产品和劳务的决策；企业针对消费者需求与收益和成本的比较关系怎样作出生产的决策；工人怎样决定劳动流向与劳动流量等等。 Macroeconomics It studies how economies’ overall levels of employment, production, and growth are determined. 宏观经济学以整个国民经济作为研究对象，研究经济总量的决定及其变化规律。具体来说，就是研究国民收入决定和变动；长期的经济增长和短期的经济波动；以及相关的通货膨胀、失业和国际收支等问题。宏观经济学通过经济总量的分析以期为政府制定宏观经济政策提供理论依据。 It emphasizes four aspects of economic life: Unemployment Saving Trade imbalances Money and the price level Microeconomics and Macroeconomics The national income accounts and the balance of payments accounts are essential tools for studying the macroeconomics of open, interdependent economies. National income accounting Records all the expenditures that contribute to a country’s income and output Balance of payments accounting Helps us keep track of both changes in a country’s indebtedness to foreigners and the fortunes of its export- and import-competing industries Balance of payments The balance of payments (BOP) is the method countries use to monitor all international monetary transactions at a specific period of time. Usually, the BOP is calculated every quarter and every calendar year. All trades conducted by both the private and public sectors are accounted for in the BOP in order to determine how much money is going in and out of a country. 指一个国家或地区与世界上其他国家或地区之间发生的跨国资金转移而引起的国际间资金收支行为 A country’s balance of payments is a systematic account of all the exchanges of value between residents of that country and the rest of the world. 国际收支平衡表 按照一定的编制原则和