货币和资本市场.pptx

1C h a p t e rFunctions and Roles of the Financial System in the Global EconomyMoney and Capital MarketsFinancial Institutions and Instruments in a Global MarketplaceEighth EditionPeter S. RoseMcGraw Hill / IrwinSlides by Yee-Tien (Ted) Fu? Learning Objectives ?To understand the functions performed and the roles played by the system of financial markets and institutions in the global economy.To explore several key terms and concepts of the money and capital markets.To discover how important the financial system is in increasing our standard of living, generating new jobs, and building our savings to meet tomorrow’s financial needs.IntroductionThe financial system is the collection of markets, institutions, laws, regulations, and techniques through which bonds, stocks, and other securities are traded, interest rates are determined, and financial services are produced and delivered around the world.IntroductionThe primary task of the financial system is to move scarce loanable funds from those who save to those who borrow to buy goods and services and to make investments in new equipment and facilities, so that the global economy can grow and the standard of living can increase.Flows within the Global Economic SystemThe basic function of the economic system is to allocate scarce resources – land, labor, management skill, and capital – to produce the goods and services needed by society.The global economy generates a flow of production in return for a flow of payments.The circular flow of production and income is interdependent and never ending.Land and other natural resourcesLabor and managerial skillsCapital equipmentFlow of productionGoods and services sold to the publicFlow of paymentsFlows within the Global Economic SystemFlow of productive servicesFlow of expenditures for consumption taxesFlow of production of goods servicesFlow of incomesProducing units (mainly business firms and governments)Consuming units (mainly households)Flows within the Global Economic S