建筑物和机器是公司的有形资产

Unit9

FinancialMarkets第一页，共二十九页。Afterstudyingthistext,youarerequiredto:understandthemeaningoffinance;namesomefamousfinancialmarkets;learnthedefinitionofforeignexchangeandforeignexchangemarketunderstandsomeinportantwordsandexpressions第二页，共二十九页。TextA:FinancialMarketsinGeneral第三页，共二十九页。Discusssomeinformationabouttheworld’sfinancialmarkets.

1.Canyounamesometypicalfinancialmarkets?

2.Doyouknowthecharacteristicsofmoney.

3.Whatisfinanceandfinancialmarket?第四页，共二十九页。ReadTextAandanswerthefollowingquestions:1.Isallocationofmoneyinequilibriumatalltimes?2.Underwhatconditioniscreditconducted?3.Whatarefinanceandfinancialmarkets?4.Whatdistinguishesmoneymarketandcapitalmarket?5.Whatmethodscanbeusedtopreventfinancialcrisis?第五页，共二十九页。Checktheexercises:1.Isallocationofmoneyinequilibriumatalltimes?No,theallocationofmoneyislopsidedinvariousareasatdifferentdate.Therefore,thequantityofcurrencyismoreorless.2.Underwhatconditioniscreditconducted?Creditisconductedontheconditionthattheprincipalandtheinterestshouldbepaidbacklater.第六页，共二十九页。3.Whatarefinanceandfinancialmarkets?Financeisusuallydefinedasfinancingofmoneybypenetrationofpayment,borrowingandlendingofmoney.Financialmarketsarethemarketsforfinancingfunds.Therearetwotypesoffinancialmarket:moneymarketandcapitalmarket.第七页，共二十九页。4.Whatdistinguishesmoneymarketandcapitalmarket?Awayofdistinguishingmarketsisonthebasisofthematurityofthesecurities.Themoneymarketisafinancialmarketinwhichonlyshort-termdebtinstrumentsaretradedwhilethecapitalmarketisthemarketinwhichlonger-termdebtandequityinstrumentsaretraded.第八页，共二十九页。5.Whatmethodscanbeusedtopreventfinancialcrisis?Wecantakemeasuressuchasstrengtheningmacroeconomiccontrol,improvingforeigntradestructure,watchingthefinancialmarketsclosely,andifnecessary,wecanapplyforthehelpofthoseinternationalorganizations第九页，共二十九页。Readthetextagainandfinishthefollowingexercise.Fillintheblankswithcorrespondingwordsinthebox. Inthisrapidlychangingeconomy,(1)_______arelinkedinawidenetworkofindividuals,enterprises,governmentagencies,newsagencies,commercialbanks,thecentralbank,securitiesfirm,investmentcompanies,insurancecompanies,andvariousfunds.Theseparticipantshavedifferent(2)________whentheyoperateinfinancialmarkets.Theyusethefinancialmarketsto(3)_________thefundsforshortperiodsoftimeortofinancelong-terminvestment.Commercialbanks,forexample,tendtolendinthemoneymarketsto(4)________theirshort-termliabilities.Insurancecompaniesandpensionfundstendtolendinthe(5)_____tocounterbalancetheirlong-termliabilities.第十页，共二十九页。Vocabulary1.tangibleadj有形的e.g.Thebuildingsandmachineryarethecompany’stangibleassets.建筑物和机器是公司的有形资产。intangibleadj无形的e.g.Thereputationisthecompany’sintangibleassets.声誉是公司的无形资产。第十一页，共二十九页。2.exchangen交易，交换e.g.Isfiveapplesforfiveeggsafairexchange?3.lopsidedadj不均衡的e.g.Thereisalopsidedratioofmentowomen.男女比例存在失衡4.inextricableadj分不开的e.g.TaiwanisaninextricablepartofChina.第十二页，共二十九页。5.integrate~+into/with融入，（使）成为一体Shehascompletelyintegratedintotheschoollife.她已完全融入学校生活。

~sthwithsth结合Theschoolintegratesmathslessonswithcomputerlessons学校把数学课和计算机课结合起来。第十三页，共二十九页。6.speculative投机的e.g.Hemadeaspeculativeinvestmentinthestockmarket.他在股市作了投机性的一笔投资。7.floatv(货币)浮动Russiafloatedtherubleontheforeignexchangemarket.俄罗斯让卢布在外汇市场上自由浮动。第十四页，共二十九页。Difficultsentences.1.Aswehavenoted,therearetwotypesofbasiccurrencyactivities:paymentofcurrencyaswellasborrowingandlendingofcurrency.我们知道,有两种基本的货币活动:货币支付和货币借贷.2.Thewaytoraisefundsinfinancialmarketscanbecategorizedintotheintermediatedandthenon-intermediated.在金融市场筹集资金的方式可分为直接筹资和间接筹资.第十五页，共二十九页。3.Internationalfinancialmarketsaremarketsforfinancialassetstradedbyresidentsandnon-residentsoutsidetheinternalmarkets.国际金融市场是本国居民与外国居民交易金融资产的场所.4.ThecrisiscameunderspeculativeattackbythequantumfundofSoros.该危机由索罗斯量子基金的投机性袭击直接所致。第十六页，共二十九页。TextB:WhatistheForeignExchangeMarket?

第十七页，共二十九页。Haveadiscussiononthefollowingquestions:1.WhatarethecurrenciesfortheUnitedStatesandJapanrespectively?2.Canyounamemorecurrenciesofdifferentcountries?3.Whataresoftcurrency?4.IsUSdollarasoftcurrency?第十八页，共二十九页。Readthefollowingsentencesanddecidewhethertheyaretrue(T)orfalse(F).(1)Theexistenceoftheforeignexchangemarketsissimplybecausenationshavetokeeptheirsovereignrighttohaveandcontroltheirowncurrency.（2）（）Theforeignexchangemarketcanbedividedintospotandforwardmarketsiftheelementoftimeistakenintoaccount.（3）（）Theforwardmarketisforforeignexchangetobedeliveredwithintwobusinessdays.（4)（）WhenaUnitedStatescompanyexportstoaforeigncountry，foreignexchangeisrequired.（5）（）Ithappenssometimesthattransactionsaresettledinthirdcurrency.第十九页，共二十九页。Analysisofthetext1foreignexchange(1)thecurrencyofacountryotherthanone'sown外汇—非自己本国的某国货币(2)theexchangingofthecurrencyofonecountryforthatofanother国际汇兑—用某国货币换成另一国货币(3)thepracticeofbuyingandsellingthemoneyofothercountries外汇买卖—买卖其他国家货币的做法第二十页，共二十九页。2foreignexchangemarket：agroupofexchangedealers，mostlyrepresentingthecommercialbanks，andtheexchangebrokers.Themarkethastwomaindivisions，thespotmarket,inwhichdeliveriesaremadeandpaidforonthespot（immediately)，andtheforwardmarket，inwhichdealsarearrangedforfuturedeliveries,tobepaidforonagreeddatesorafterdelivery.外汇市场：指一群主要代表商业银行及外汇经纪人的外汇交易商。该市场有两个主要部分：现货市场，（当场）立即交货付款，远期市场，为将来交货达成交易，在交货时或交货后的协定日期付款。第二十一页，共二十九页。3.purchasingpower：theamountofgoodsandservicesthatmoneycanbuyatagiventime.Thispowervariesinthelevelofprices,‘e.whenpricesrise,thepurchasingpowerofmoneyfalls.货币的购买力：在一个特定时间货币所能够买到的商品与劳务的数量。购买力同物价水平变动呈逆向变化．即当物价上涨，货币购买力就下降。第二十二页，共二十九页。4secondarymarket：thatpartofthemoneymarketinwhichinvestorsandbrokersbuyandsellbetweenthem-selveswithouttheoriginalissuerbeingconcerned.二级市场：货币市场的一部分，在其中投资者和经纪人之间进行买卖，无须牵涉原发行者。5thevaluedate;thedateonwhichforeignexchangeisduetobedelivered交付日：外汇应交付日期第二十三页，共二十九页。6invoicevt.开发票toinvoicesb.forstll给（某人）开（某物的）发票7offset:vt.balance,compensatefor抵消，弥补Hehastooffsethissmallsalarybylivingeconomically.他薪水微薄，不得不节俭度日。第二十四页，共二十九页。8softcurrency:thatofacountrywhichhasaweakbalanceofpaymentandthereforeacurrencyforwhichthereisrelativelylittledemand.Itcanusu.beboughtcheaply,esp.inexchangeforhardcurrency.软通货，软币：一个国际收支能力薄弱的国家发行的，因此对其需求童较小的货币。这种货币一般用低价就可获