金融学课件英文chpt

1、1Chapter 2: The Financial SystemCopyright Prentice Hall Inc. 2000. Author: Nick Bagley, bdellaSoft, Inc.ObjectiveUnderstanding the workings of the financial systemDetermining rates of return 2Chapter 2 Contents1 What is a Financial System2 The Flow of Funds3 The Functional Perspective4 Financial Inn

2、ovation & the “Invisible Hand”5 Financial Markets6 Financial Market Rates7 Financial Intermediaries8 Financial Infrastructure and Regulation9 Governmental & Quasi-Governmental Organizations3The Flow of Funds DiagramMarketsIntermediariesSurplus UnitsDeficit Units4Fund Flows via MarketMarketsIntermedi

3、ariesSurplus UnitsDeficit Units5Fund Flows via IntermediaryMarketsIntermediariesSurplus UnitsDeficit Units6Fund Flows via Intermediary and MarketMarketsIntermediariesSurplus UnitsDeficit Units7Funds Flow via Markets and Intermediaries MarketsIntermediariesSurplus UnitsDeficit Units8Funds Flow: Disin

4、termediationMarketsIntermediariesSurplus UnitsDeficit UnitsMarketsIntermediariesSurplus UnitsDeficit Units9Funds Flow: Secured CreditMarketsIntermediariesSurplus UnitsDeficit UnitsPoor Credit Risk10Six Key Financial Functions:Transferring Resources Across Time & SpaceManaging RiskClearing and Settli

5、ng PaymentsPooling Resources and Subdividing SharesProviding InformationDealing with Incentive Problems11Exchange Rate Example15000 15260 15450 100109Time3% / (direct)1.73% /150 /9%/140 /JapanU.K.12Exchange Rate Example15000 16241 15450 100109Time3% / (direct)8.27% /150 /9%/149 /JapanU.K.13Exchange Rate Example15000 (borrowed)15450 15450 Repaid 100Invested109MaturesTime3% / (direct)3% /150 /9%/F