[經(jīng)濟學]貨幣金融學英文課件lecture(編輯修改稿)
2025-03-20 12:37 本頁面
【文章內(nèi)容簡介】 arkets? ? Financial Markets help in transferring funds from people with excess funds to people with productive use and ideas but have a shortage of funds. ? They have significant impact on our daily life as they are involved in huge flow of fund in our economy. Financial markets will affect ?Efficiency of economy by reallocating the financial resources ?Business profits ?Economic well being of other countries 124 ? Well functioning Financial Markets are a key factor in producing high economic growth ? Poor management of Financial Markets is one reason that many countries remain desperately poor ? Financial market activities also have direct effects on ? personal wealth ? the behavior of business and consumers ? cyclical performance of the economy 125 1st Market: Bond Market ? A ?Security‘ or a ?Financial Instrument‘ is a claim on issuer‘s future ine or asset (. any financial claim or piece of property owned) ? A Bond is a debt security – a promise to make payments periodically for a specific period of time ? Bond Market is typically important for economic activity. It enables corporations and governments to borrow to finance their activities ? It is the Bond Market where Interest Rates are determined 126 What is Interest Rates? ? It is the cost of borrowing or the price paid for the rental of funds . ? There are number of different interest rates (. mortgage interest rate , car loan rates , house loan rates, and bond rates) ? Changes in interest rates have important effects on individuals, financial institutions, businesses, and the overall economy. ? High interest rate discourages consumption ? But encourages savings ? Can influence business decisions on same grounds and thus retard economic activity, affect employment and so on and forth 127 A further look at Bond Market will be in Chapter 2, 4,5,6 128 2nd Market: Stock Market ? A place where stocks are traded ? What is a stock? ? A share of ownership in a corporation ? It is a claim on the earnings amp。 assets of the corporation ? It is a way to finance corporation‘s activities 129 ? The stock market is the most widely followed financial market in almost every nation ? It is a place where people can get rich or poor quickly. ? on “ Black Monday, Oct 19, 1987, DowJones fell by 22%. ? with the collapse of the inter bubble in 2022, the stock market dropped by over 30% and some stocks dropped more than 90% by late 2022. ? On Oct 6,2022, DowJones fell by 800 point to the level of below 10,000 ? These fluctuations in stock prices affect people‘s wealth and can effect their willingness to spend ? The stock market is an important factor in business investment decisions, because the price of shares affects the amount of funds that can be raised by selling newly issued stock (IPO) to finance investment spending 130 US Stock Market : 19502022 131 Samp。 P 5 0 0 I n d e x 1 9 9 0 2 0 0 90400800120016002022199013199113199213199313199413199513199613199713199813199913200013200113200213200313200413200513200613200713200813200913132 China Stock Market: 19922022 010002022300040005000600070004/3/199112/4/19918/5
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