米什金货币金融学_ppt01

1、Chapter 1Why Study Money, Banking, and Financial Markets? 2006 Pearson Addison-Wesley. All rights reserved1-2Why Study Financial Markets? 1. Channel funds from savers to investors, thereby promoting economic efficiency2. Affect personal wealth and behavior of business firmsWhy Study Banking and Fina

2、ncial Institutions? 1. Financial IntermediationHelps get funds from savers to investors2. Banks and Money SupplyCrucial role in creation of money3. Financial InnovationWhy Study Money and Monetary Policy?1. Influence on business cycles, inflation, and interest rates 2006 Pearson Addison-Wesley. All

3、rights reserved1-3Bond Market 2006 Pearson Addison-Wesley. All rights reserved1-4Stock Market 2006 Pearson Addison-Wesley. All rights reserved1-5Foreign Exchange Market 2006 Pearson Addison-Wesley. All rights reserved1-6Money and Business Cycles 2006 Pearson Addison-Wesley. All rights reserved1-7Mon

4、ey and the Price Level 2006 Pearson Addison-Wesley. All rights reserved1-8Money Growth and Inflation 2006 Pearson Addison-Wesley. All rights reserved1-9Money Growth and Interest Rates 2006 Pearson Addison-Wesley. All rights reserved1-10Fiscal Policy and Monetary Policy1-11How We Study Money and Bank

5、ingBasic Analytic Framework1. Simplified approach to the demand for assets2. Concept of equilibrium3. Basic supply and demand approach to understand behavior in financial markets4. Search for profits5. Transactions cost and asymmetric information approach to financial structure6. Aggregate supply an

6、d demand analysisFeatures1. Case studies2. Applications3. Special-interest boxes4. Following the Financial News boxes5. Reading the Wall Street Journal6. Web Exercises and URLs 2006 Pearson Addison-Wesley. All rights reserved1-12Appendix: DefinitionsAggregate OutputGross Domestic Product (GDP) = Val

7、ue of all final goods and services produced in domestic economy during yearAggregate IncomeTotal income of factors of production (land, capital, labor) during yearDistinction Between Nominal and RealNominal = values measured using current pricesReal = quantities, measured with constant pricesAggrega

8、te Price Level nominal GDPGDP Deflator = real GDP $10 trillion GDP Deflator = = 1.11 $9 trillionConsumer Price Index (CPI) price of “basket” of goods and services 2006 Pearson Addison-Wesley. All rights reserved1-13Appendix: DefinitionsGrowth Rates and the Inflation Rate11Growth Rate100tttxxx$9.5 trillion$9 trillionGDP Growth Rate100