[經(jīng)濟學]貨幣金融學英文課件lecture(已改無錯字)
2023-03-24 12:37:49 本頁面
【正文】 /19924/7/199312/8/19938/10/19944/12/199512/13/19958/14/19964/16/199712/17/19978/19/19984/21/199912/22/19998/23/20004/25/200112/26/20018/28/20024/30/200312/31/20039/1/20045/4/20051/4/20069/6/20065/9/200712/6/20071/24/20083/13/20085/1/20086/19/20088/7/2008Shanghai Index020040060080010001200140016001800Shenzhen IndexS h a n g h a i S E C o m p o s i t e S h e n z h e n S E C o m p o s i t e We shall follow up issues on stock market in Chapter 2 amp。 7 133 3rd Market: Foreign Exchange Market ? This market is used to transfer funds from one country to another ? It is important because it is the place where exchange rate – price of one currency in terms of the other – is determined ? It is relative price of two currency and therefore can be quoted in two ways (. RMB￥ /US$ or US$/RMB￥ ) ? Fluctuations in exchange rate have direct implications for an economy ? Appreciated RMB is good for imports but not so good for exports ? Strong RMB benefit consumers but exports bee more expensive for foreigners 134 135 Why Banking and Financial Institutions? ? Financial system is plex and prise of many different types of private sector financial institutions ? Financial Intermediaries— institutions that borrow funds from people who have saved and make loans to other people ? Banks— institutions that accept deposits and make loans ? Other Financial Institutions— insurance panies, finance panies, pension funds, mutual funds and investment banks ? Financial Innovation— in particular, the advent of the information age and efinance 136 ? Chapter 9: How banks and other financial institution manage their assets and liabilities ? Chapter 10: Look at banking industry ? Chapter 11: Understand why bank regulation takes the form it does and what can go wrong in the regulatory process 137 Why Study Money and Moary Policy? Money , also referred as Money supply , is defined as anything that is generally accepted in payment of goods and services. Money is linked to the changes in economic variables that are key to the health of the economy Money and Business Cycle ? Evidence suggests that money plays an important role in generating business cycles (recession , trough, expansion and peak) ? Recessions (unemployment) and booms (inflation) affect all of us ? Moary Theory ties changes in the money supply to changes in aggregate economic activity and the price level 138 Shaded areas represent recessions The rate of money growth has declined before every recession, indicating that changes in money might be a driving force behind Business cycle fluctuations 139 Money and Inflation ? What is Inflation? ? It is the rate at which price level changes in an economy over a specific period of time ? It affects individuals, businesses, and government – thus regarded as an important problem to be solved 140 Price level and money supply generally move together 141 ? Data shows a connection between the money supply and the price level ? from 1950 to 2022, th
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