金融学(双语)(2)优质课件.ppt

Chapter1

WhyStudyMoney,Banking,andFinancialMarkets?金融学（双语）国家级精品课程

PreviewWhystudyfinancialmarkets?Whystudybankingandfinancialinstitutions?Whystudymoneyandmonetarypolicy?Howwewillstudymoney,bankingandfinancialmarkets?金融学（双语）国家级精品课程

1.1Whystudyfinancialmarkets?1.1.1Thebondmarketandinterestrates1.ASecurityalsocalledfinancialinstrument,isaclaimontheissuer’sfutureincomeorassets.2.Assetsrefertoanyfinancialclaimorpieceofpropertythatissubjecttoownership.3.ABondisadebtsecuritythatpromisestomakepaymentsperiodicallyforaspecifiedperiodoftime.金融学（双语）国家级精品课程

1.1.2Whythebondmarketissoimportantinacountry’seconomy?Thebondmarketisespeciallyimportanttoeconomicactivitybecauseitenablescorporationsorgovernmentstoborrowtofinancetheiractivitiesandbecauseitiswhereinterestratesaredetermined.金融学（双语）国家级精品课程

1.1.3Toexplaintheimpactofinterestratesonaeconomy1.impactonpersonaleconomicalbehaviorsHighinterestratescoulddeteryoufrombuyingahouseoracarbecausethecostoffinancingitwouldbehigh.Conversely,highinterestratescouldencourageyoutosavebecauseyoucanearnmoreinterestincomebyputtingasidesomeofyourearningsassavings.金融学（双语）国家级精品课程

2.impactontheoveralleconomyInterestrateshaveanimpactonaffectingnotonlyconsumers’willingnesstospendorsavebutalsobusinesses’investmentdecisions.金融学（双语）国家级精品课程

InterestRatesonSelectedBonds,1950-2002金融学（双语）国家级精品课程

1.1.2Thestockmarket1.CommonstockAcommonstock(typicallyjustcalledastock)representsashareofownershipinacorporation.Itisasecuritythatisaclaimontheearningsandassetsofthecorporation.Issuingstockandsellingittothepublicisawayforcorporationstoraisefundstofinancetheiractivities.金融学（双语）国家级精品课程

2.Themainfeatureofstockmarket