新编金融英语教程教学课件汇总完整版电子教案

1、MoneyChapter 1Lead-inLanguage NotesKey PointsFollow-up Tasks1.4CONTENTSExtended Tasks1.51.1Lead-inIn this chapter, we will first of all examine the definition of money, then introduce the meaning of monetary aggregate, and finally discuss the main functions of money. Money is defined as any

2、thing that is commonly used to pay for goods and services. Economists make a distinction between money in the form of currency, demand deposits, and other items that are used to make purchases and wealth, the total collection of property to store value. Wealth includes not only money, but also other

3、 assets such as bonds, common stock, art, land, furniture, cars, and houses.1.2 Key Points1.2.1 Definition of Money1.2 Key Points1.2.2 Monetary AggregatesM2 consists of everything in M1 plus some highly liquid assets which can be converted to the items in M1 very easily without the loss of value for

4、 the principal. The other highly liquid assets are small savings, time deposits, MMDAs, and individual money market mutual funds. M2M3 consists of everything in M2 plus some illiquid assets. The assets include large deposits, repurchase agreements, European dollars, institutional money, and market m

5、utual funds.M3M0 is a measure of themoney supplywhich combines any liquid or cash assets held within acentral bankand the amount of physical currency circulating in the economy.M0M1 is the measure that corresponds most closely to the definition of money. It consists of currency held by the public an

6、d checkable deposits.M11.2 Key Points1.2.2 Monetary AggregatesM0M1M2M3any liquid or cash assetsdemand deposits and other checkable depositshighly liquid assetssome illiqyid assets1.2 Key Points1.2.3 Functions of MoneyMedium of ExchangeMoney effectively eliminates the double coincidence of wants prob

7、lem by serving as a medium of exchange that is accepted in all transactions, by all parties, regardless of whether they desire each others goods or services.1.2 Key Points1.2.3 Functions of MoneyStore of ValueMoney, as a repository of purchasing power over time, also functions as a store of value. I

8、t is an asset which can be used to store value for the future. When we dont consume the money now, we can save it and transfer the consumption power to some point in the future. 1.2 Key Points1.2.3 Functions of MoneyUnit of AccountThe third role of money is to provide a unit of account. That is to s

9、ay, money is used to measure value in the economy.aggregate grgt 总量account kant 账户 asset set 财产bond bnd 债券currency krnsi 货币denomination dnmnen 面额depository dpztri 存储liquid lkwd 流动性的monetary mntri 货币的principal prnspl 本金1.3 Language NotesI. Wordsbarter economy checking account commodity money demand d

10、eposits depository institutions fiat money financial claim medium of exchange monetary aggregate money market deposit accounts (MMDAs) 1.3 Language NotesII. Phrases narrow money paper money store of valuethe Federal Reserve System ( the Fed) 1. It occurred because gold and silver merchants or banks

11、would issue receipts to their depositors redeemable for the commodity money deposited.2. Economists make a distinction between money in the form of currency, demand deposits, and other items that are used to make purchases and wealth, the total collection of property to store value.3. They consist o

12、f demand deposits, which are non-interest-earning checking accounts issued by banks, and other checkable deposits, which are interest-earning checking accounts issued by some depository institutions. 4. Even though these other assets are not used to make transactions, they are all highly liquid, so

13、they are often referred to as near monies.5.In other words, in a barter system, the exchange can take place only if there is a double coincidence of wants between two transacting parties. 1.3 Language NotesIII. Sentences 1.4 Follow-up TasksI. Matching( )1.a means of paymentA. 债务偿还( )2. checkable dep

14、ositsB. 普通股( )3. payment toolC. 一种支付手段( )4. debt repaymentsD. 金融要求权( )5. common stockE. 可支取的存款账户( )6. liquid assets F. 一个给定的时间点( )7. near monies G. 货币存量( )8. a given point in timeH. 支付工具( )9. stock of moneyI. 流动资产( )10. financial claimsJ. 准货币Directions: Match the English words and phrases in the lef

15、t column with the proper Chinese equivalents in the right column. 1.4 Follow-up TasksII. JudgmentsDirections: Decide whether each of the following statements is true (T) or false (F). 1.M1 is not the narrowest measure of money. ( )2.Demand deposits are more profitable than the travelers checks. ( )

16、3.Money market deposit accounts (MMDAs) have more checking-writing privileges than checking accounts. ( )4.Not all components of M1 can be used as means of payment. ( ) 5.Only money has the store of value. ( )1.4 Follow-up TasksIII. Short Answer Questions Directions: Answer each of the following que

17、stions briefly.1. What assets have acted as payment tools in the history of mankind?2. What are the differences between wealth and currency?3. What is the relationship between M1, M2 and M3?4. What is the major problem of making transactions by barter?5. What are the advantages and disadvantages of

18、money as the store of value?1.4 Follow-up TasksIV. Translation Directions: Translate the following Chinese paragraph into English.货币是购买货物、保存财富的媒介，其本质是财产的所有者和市场关于交换权的契约。货币有不同的表现形式，比如一般等价物、贵金属货币、纸币、电子货币等。货币的主要功能包括交易媒介、价值储藏和价值标准。在现代经济中，只有很小的部分交易以实体通货，比如纸币或硬币的方式进行，大部分的交易都是使用支票或电子货币。Money makes the world

19、 go round. English proverbMoney is a good servant but a bad master.Francis BaconThere is no sure and easy paths to riches in Wall Street or anywhere else.Benjamin GrahamNo complaint. is more common than that of a scarcity of money. Adam SmithI dont go near the money and the money doesnt go near me.P

20、eter Lynch1.5 Extended TasksI. Proverbs and Quotes1.5 Extended TasksII. Interview ExcerptJack Ma is a Chinese business icon, investor, and philanthropist. As the co-founder and executive chairman of the Alibaba Group, he is one of Chinas richest men and one of the wealthiest people in the world. In

21、this speech excerpt, Jack Ma talks about his view of money. He stresses that the more money a person has, the more responsibilities he will have to assume.1.5 Extended TasksIII. Movie ClipThis clip traces the evolution of money in the history of mankind.ThanksThe Demand for and Supply of MoneyChapte

22、r 2Lead-inLanguage NotesKey PointsFollow-up Tasks2.4CONTENTSExtended Tasks2.52.1Lead-inThis chapter will first of all discuss the demand for money, including its motivation and influencing factors. It will also examine the relationship between demand for money and interest rate. Then this c

23、hapter will shift to the money supply, exploring issues such as the basis for the division of money supply and factors that determine the quantity of money supply.In economics, demand for money is the desired holding of financial assets in the form of money, namely cash or bank deposits rather than

24、investments. It can refer to the demand for money narrowly defined as M1 (non-interest-bearing holdings), or for money in the broader sense of M2, M3 or M4.2.2 Key Points2.2.1 Demand for MoneyWhy is the relationship between the quantity demanded of money and the interest rate inverse?2.2 Key Points2

25、.2.2 Supply of Money In economics, supply of money or money supply is the total amount of monetary assets available in an economy at a specific time. 2.2 Key Points2.2.2 Supply of MoneyPublic and private sector analysts have long monitored changes in the moner supply because of the belief that it af

26、fects the price level,inflation,the exchange rate ,and the business cycle.Money supply are usually recorded and published by the government or the central bank of the country.2.2 Key Points2.2.2 Supply of MoneyThe different types of money are typically classified as “M”s. The “M”s usually range from

27、 M0 (narrowest) to M3 (broadest) but which “M”s are actually focused on in policy formulation depends on the countrys central bank.2.2 Key Points2.2.2 Supply of Moneydifferent types of money 2.2 Key Points2.2.2 Supply of MoneyChanges in the supply of money, initiated by the Fed, are reected by shift

28、s of the vertical supply curve, as described in Figure. If the Fed speeds up the provision of reserves or reduces the required reserve ratio, the money supply curve shifts to the right, and the supply of money increases. Likewise, if the Fed slows down the provision of reserves or increases the requ

29、ired reserve ratio, the money supply curve shifts to the left, and the supply of money decreases. constant knstnt 不变的curve kv曲线holding hld 持有inversenvs相反的macroeconomics mkriknmks宏观经济学outstanding atstnd 未偿付的reserve rz:v 储备return rt:n 收益substitute sbsttju:t 替换trade-off tred:f, -f 权衡，交易vault v:lt 金库，保险

30、库2.3 Language NotesI. Wordscheckable deposits checking account cost of creditdemand for moneydownward sloping demand curve financial intermediariesfinancial systeminterest-bearing assets interest rateinverse relationship near monies 2.3 Language NotesII. Phrases nonmonetary assets opportunity cost o

31、utstanding deposit portfolio adjustmentsquantity demanded rental raterequired reserve ratio reserve asset reserve depositsavings account spending unit vault cash 1. Thus, just as rent is the cost to apartment dwellers and the return to the owner, the interest rate is the rental rate when money is bo

32、rrowed or loaned, and it is known as the cost of credit. 2. If we hold other factors constant and allow only the interest rate to vary, we find there is an inverse relationship between the quantity demanded of money and the interest rate.3. Holding other factors constant is known as invoking the cet

33、eris paribus assumption. 4. Finally, when the interest rate rises, portfolio adjustments decrease the holdings of money, whose return has not increased or has increased less than that of nonmonetary assets.5. Depository institutions, which refer to financial intermediaries that issue checkable depos

34、its, should hold reserve assets equal to a certain fraction of those deposits.2.3 Language NotesIII. Sentences 2.4 Follow-up TasksI. MatchingDirections: Match the English words and phrases in the left column with the proper Chinese equivalents in the right column. ( )1. amountA. 贷款人( )2. borrowerB.

35、储备金( )3. credit union C. 通货膨胀( )4. depository institutionD. 贷款文件( )5. demand depositsE. 金额( )6. inflationF. 货币供给量( )7. lenderG. 借款人( )8. loan paperH. 信用合作社( )9. provision of reserves I. 存款机构( )10. supply of moneyJ. 活期存款2.4 Follow-up TasksII. JudgmentsDirections: Decide whether each of the following

36、statements is true (T) or false (F). 1. There is a high correlation between peoples incomes and their demand for money to hold. ( )2. M1, as the narrowest measure of money, only includes currency in the hands of the public, excluding checkable deposits. ( )3. The required reserve ratio is decided by

37、 any depository institution itself rather than the Fed. ( )4. It is up to the depository institutions to decide the maximum amount of checkable deposits that they can create. ( )5. The Fed can change the supply of money for the U.S. by changing the quantity of reserves available to the American bank

38、ing system. ( )2.4 Follow-up TasksIII. Short Answer Questions Directions: Answer each of the following questions briefly.1. What is the profitable way for people to deal with their holdings of money when the interest rate goes down? 2. How does the change in the quantity demanded of money affect the

39、 interest rate?3. Can you list five or more factors that may affect the demand for money?4. What are the differences between demand and quantity demanded?5. What is your understanding of the required reserve ratio?2.4 Follow-up TasksIV. Translation Directions: Translate the following Chinese paragra

40、ph into English.货币需求是指人们放弃流动性很差的金融资产转而持有不生息货币的需要。货币供给是一个国家或货币区的银行系统向经济体中投入、创造、扩张或收缩货币的过程。它是一个国家或货币区在某个时间节点上，家庭和厂商持有的政府和银行系统以外的货币总和。Money is not everything, but without money, everything is nothing.AristotleMoney begets moneyEnglish proverbMonetary discipline forces fiscal discipline on the politicia

41、ns as well.Robert MundellHe who controls the money supply of a nation controls the nation.James GarfieldInflation is always and everywhere a monetary phenomenon.Milton Friedman2.5 Extended TasksI. Proverbs and Quotes2.5 Extended TasksII. Interview ExcerptJim Rogers is an American businessman and fin

42、ancial commentator based in Singapore. He is the Chairman of Rogers Holdings and Beeland Interests, Inc. He is the co-founder of the Quantum Fund and Soros Fund Management. He is also the creator of the Rogers International Commodities Index (RICI). In this interview excerpt, Rogers talks about the

43、possible fall of the U.S. dollars as the worlds reserve currency.2.5 Extended TasksIII. Movie ClipThis clip is an inspiring speech, which motivates people to work hard for money.ThanksMonetary PolicyChapter 3Lead-inLanguage NotesKey PointsFollow-up Tasks3.4CONTENTSExtended Tasks3.53.1Lead-i

44、nThis chapter will first of all introduce the goal of the monetary policy. Then it will explain the process of the monetary policy formulation. Finally, it will list the various tools of the monetary policy. 3.2 Key Points3.2.1 Goal of the Monetary PolicyMacroeconomic policymonetary policyfiscal pol

45、icymonetary policy, which involves the central banks use of its policy instruments to affect the cost and availability of funds in the economy.fiscal policy,which involves alterations in government spending or taxes.￥$The goals of monetary policy are sustainable economic growth, full employment, sta

46、ble prices, and a satisfactory external balance. Sustainable economic growth is determined by the growth and productivity of the labor force and capital stock. Policies that achieve full employment and a noninflationary environment help to achieve maximum sustainable growth.3.2 Key Points3.2.1 Goal

47、of the Monetary Policy￥$Fiscal policy,which involves alterations in government spending or taxes.Fiscal Policy3.2 Key Points3.2.1 Goal of the Monetary Policy3.2 Key Points3.2.2 Process of the Monetary Policy FormulationThe basic approach is to use various statistical methods and models, judgment bas

48、ed on historical experience, and incoming data on the full range of factors comprising and determining aggregate demand and aggregate supply to develop a forecast for the variables of major concern such as real gross domestic product (GDP), ination, the unemployment rate, and exchange rates.The data

49、 that are used include information about retail sales, industrial production, consumer confidence, business capital spending plans, wages, personal income, profits, and the external balance of payments. 3.2 Key Points3.2.3 Tools of the Monetary PolicyOpen Market Operations1Discount Policy2Reserve eq

50、uirements3 This entails managing the quantity of money in circulation through the buying and selling of various financial instruments, such as treasury bills, company bonds, or foreign currencies, in exchange for money on deposit at the central bank. 3.2 Key Points3.2.3 Tools of the Monetary Policy1

51、Discount Policy2The discount window is an instrument of monetary policy (usually controlled by central banks) that allows eligible institutions to borrow money from the central bank, usually on a short-term basis, to meet temporary shortages of liquidity caused by internal or external disruptions. 3

52、.2 Key Points3.2.3 Tools of the Monetary PolicyOpen Market Operations1Discount Policy2Reserve Requirements3The required reserve ratio is sometimes used as a tool in monetary policy, influencing the countrys borrowing and interest rates by changing the amount of funds available for banks to make loan

53、s with. contractionary kntrknr 收缩的，收紧的discount dskant贴现equivalent kwvlnt 相等的东西，等量expansionary kspnnri 扩张的float flt 浮动fluctuation flkten 波动liability lablti 责任，债务liquidity lkwdti 流动性3.3 Language NotesI. Wordsmonetarism mntrzm 货币主义offset fset 抵消statistical sttstkl 统计的shrink rk 使缩水sustainable sstenbl 可持

54、续的a basket of foreign currencies aggregate demandaggregate supplycapital stock credit facility defensiveopenmarketoperation discount window dynamicopenmarketoperation federal funds Federal Open Market Committee (FOMC) fiscal policy gross domestic product (GDP) monetary authority 3.3 Language NotesII

55、. Phrases monetary basemonetary policy money supply multiplier open market operations policy instruments primary credit prime rate secondary credit standing lending facilitystranded asset Treasury deposits vault cash the U.S. Treasury unit of account1. Monetary policy is the process during which the

56、 monetary authority of a country, like the central bank or currency board, controls the supply of money. 2. The changes in fiscal and monetary policies that lead to changes in aggregate demand interact, in turn, with aggregate supply to produce changes in prices, real output, and employment. 3. The

57、basic approach is to use various statistical methods and models, judgment based on historical experience, and incoming data on the full range of factors comprising and determining aggregate demand and aggregate supply to develop a forecast for the variables of major concern such as real gross domest

58、ic product (GDP), ination, the unemployment rate, and exchange rates.4. The data that are used include information about retail sales, industrial production, consumer confidence, business capital spending plans, wages, personal income, profits, and the external balance of payments.5. The Fed conduct

59、s most of its open market operations in Treasury securities because the market for these securities is the most liquid and has the largest trading volume.3.3 Language NotesIII. Sentences 3.4 Follow-up TasksI. MatchingDirections: Match the English words and phrases in the left column with the proper

60、Chinese equivalents in the right column. ( )1. availability of fundsA. 定期存单( )2. a certificate of deposit B. 充分就业( )3. discount policyC. 货币委员会( )4. federal funds rateD. 劳动力( )5. fiscal and monetary policies E. 利率( )6. full employmentF. 价格稳定( )7. interest rateG. 资金可用性( )8. labor force H. 联邦基金利率( )9.