大学金融英语二课件陈庆柏 王景仙ISBN 9787566304827 PPTchapter 3.pptVIP

Chapter Three Monetary Policy Learning objectives After learning this chapter you should be able to: 1. Give your definition of monetary policy 2. Tell the chief types or classes of monetary policies 3. Explain the targets of monetary policy 4. Describe the usual tools or instruments used to implement U.S. monetary policy Notes I. New Words 1. outflow n. 流出（指资金流向国外，与其相对的是inflow） 2. to boost vt. 增加 = to increase 3. instrument n. 本文中当“工具”讲=tool 4. quarter n. 一个季度= of a year 5. sustained a. 持久的，持续的= continuous 6. contraction n. 收缩 Notes II. Useful and Idiomatic Expressions 1. to lead to... 导致= to result in 2. the first and foremost首要的（当副词用时，不加the） 3. to receive sth. from... 从……获得…… 4. to conflict with... 与……发生冲突 5. be consistent with... 与……相一致 6. to take on greater importance变得更加重要 Notes III. Key Terms 1. GDP (gross domestic product) 国内生产总值 2. GNP (gross national product) 国民生产总值 3. easy or expansionary monetary policy宽松的或扩张性货币政策 4. tight monetary policy紧缩的货币政策 5. full employment充分就业 6. open market operations公开市场业务（操作） 7. discount policy贴现政策 8. reserve requirements法定存款准备金规定 Main Text Definition According to Oxford Dictionary of Finance and Banking, monetary policy is defined as a means by which governments try to affect macroeconomic conditions by increasing or decreasing the supply of money. And some other economists also define it as the attempt to control the economy by changing the quantity of money in circulation and adjusting interest rates. Main Text Classes of Monetary Policies Easy or expansionary monetary policy. A country’s monetary policy will be an easy or expansionary if the money supply is increased by lowering interest rates. This type of monetary policy can boost the level of investment and income in the nation, but it can also lead to inflation and short-term capital outflow. Tight monetary policy It refers to a reduction in the nation’s money supply and a rise in interest rates. Tight monetary policy discourages investment and tends to lower income