工业工程aps总结

FinancialInthiscourse,Ihavelearnedbasicprinciplesofcooperatefinance,suchasthetimevalueofmoney.Itreferstothephenomenathatacertainamountofmoneycanbuymorethingsatpresentthanthesameamountofmoneyinthefuture.Forexample,nowIhave100yuanandiftheinterestis5%,thenthis100yuanwillbeworthof105yuaninoneyear.Thisisbecausetheinflationandinterestearned.Forexample,astheprofessorsaid,theoretically,youareactuallysavingmoneyifyoupaythecreditcard'sdebtatthelastdayoftherepaymentschedule.Thenwelearnedmatchingprinciple,acompanycanminimizeitsfinancialcostbymatchingprinciple,whichreferstoashorttermfinancedemandshouldsupplybyshorttermdebtfinancing,andlongtermfinancedemandshouldbesupportbylongtermfinancerecourse.Basedonthoseprinciples,Ihavelearnedhowtoraisethecapitalandhowtouseit,includinglongtermbudgetingandtheshorttermresourceslikecurrentassets.Toraisecapital,forexample,thecompanyshouldknowwhatkindofcapitaltouse,loansorincreasingissuesinstocks(增发股票).Bothhaveitsadvantagesanddisadvantages.Loansrequirelessregulationandaremoreefficient,buttheriskandinterestarehigher;increasingstockissuescanhelpthecompanyraisemorecapitalandraisedmoneydoesn’tneedtobereturned,butthecompanyshouldmeetcertainrequirementandgothroughcertainprocedures,whichcouldprolongthetime,andalsothecontrolpowerwillbediluted稀释Sothecompanyshouldweightallthosefactorsanddecidewhichisbetter.Thenextthingwouldbewheretousetheraisedmoney,orwhichprogramtoinvest.Therearealotoffactorstoconsider,forexamplewhethertheprogramiswithinthefieldofthepresentbusinessscopeandwhetherthecompanyhastherequiredresources.Butthebasicruleisthattherateofreturnshouldcoverthecapitalinterestsothatinvestingtheprogramcanincreaseshareholders’interests.FirstlyIlearnedaccountingisprocessingtheeconomydataintoaccountinginformation,sothatwecanfiguringoutthefinancialpositionandbusinessperformanceanduseitforfuturedecisions.Tobemorespecific,welearnedbalancesheet,itincludingassets,liabilitiesandnetworth资本净值Assetsshowsalltheproductiveassetsacompanyowns,andthesecondpartshowsallthefinancingmethods,suchasliabilitiesandshareholder'sequityItalwayshastofollowtheequation:Assets=Liabilities+Shareholders'Equity.Balancesheethasalotoffunctions.Outsideshareholderscanseehowmanyassetsthecompanyownsandhowthoseassetsarefinanced.Andbylookingattheratioofliabilitiesandequity,loanlendersandshareholderscanjudgewhethertheleverageisappropriateandwhetherthereishighoperatingrisk.Wehavealsolearnedincomestatements.Thisrepresenttheoperatingresultofthecompanyandwilldirectlyinfluenceinvestors’decision.Lastbutnotleast,wehavelearnedhowtoformthecashflowstatement.Cashflowstatementisbecomingmoreimportantbecausenowadaysmanycompaniesgobankruptcy['bæŋkrəptsi]（破产）notbecausetheyarenotmakingprofit,butbecausetheyareshortofcash.CorporateInthiscourseIfirstlearnedtheoriginofcorporategovernance:separationofmanagementandownership.Ihavealsolearnedsomegeneralproceduresofgovernance,includingintroducingindependentdirectors,boardofsupervisors,informationdisclosureandetc.Allthoseprocedureshaveonepurpose:tocoordinatethebehaviorofexecutivemanagementwiththeinterestsofManagementinformationThiscourseintroducesaverynewandefficientmethodofmanaginginformationwhichbecomesaveryimportantpartofmoderncompanymanagement.Thegeneralideaofmanagementinformationsystemistosharealltheinformationwitheveryoneparticipatinginoperating.Taketheautomobileinventorysystemforexample,everycarneedsfourtiresandoneengine.Soifthereisonecarordered,thentheMISofinventorywillshowthedemandoffourtiresandoneengineandimmediatelysendingtheinformationtotheassemblingline,meanwhilethisinventoryMISwillsharetheinformationtothesupplier,whocanproducefourmoretiresandoneenginetofilluptheinventory.Thiskindofinformationsharingwoulddecreasethecostofinternalrunning.It'sarelativelynewconceptofoperating.Thiscoursefirstintroducedusthedefinitionandfunctionsofmodernmanagement.AndHenriFayol’stheoryofmanagementfunctionsremainstobethemostacceptedone,heconsideredmanagementtoconsistofplanning,organizing,commanding,coordinating,andcontrolling.Andbythistheory,wecaneasilyunderstandthepurposeandresponsibilitiesofmanagement.Italsotaughtusoftherelationshipbetweenvision,missionandstrategy.Therelationshipislikeahierarchy,withvisiononthetopandstrategyonthebottom.Visiontellsthepurposeofacompany,whichmeanswhythiscompanywasestablishedandstillexist;missiontellsuswhatthecompanyisdoinginordertofulfillitsvision;andstrategytellshowthecompanywillaccomplishitsgoals.Besideswelearnedaveryfamousandimportanttheory,Maslow's"HierarchyofNeeds".Itsuggeststhatpeoplearemotivatedbytheirneeds,whichcanbedividedintofivekindshierarchal.Thoseneedsarephysiological生理需要safety安全需要love\belonging社会需要esteem尊重需要,self-actualization自我实现.EconomicEconomiclawmainlyintroducesCorporationlaw,competitionlawandintellectualpropertyCorporationlawfirstintroducesthethreeformsofcorporation:soleproprietorship,partnershipandcorporation.Itthenfocusesonthelawsrelatedtocorporation,includinghowtoestablishanewcorporation(limitedliabilitycompany,LLC&incorporatedcompany)andrequirementofmerge,discreteandcapitalincreaseanddecrease.Competitionlawconstitutesofanti-unfaircompetitionlawandantitrustlaw.Whendoingbusiness,wemainlyuseanti-unfaircompetitionlaw.ofthemind:suchasinventions,literary,andartisticwork.Andintellectualpropertylawistheareaoflawthatdealswiththecreationofintellectualpropertypatents,copyrightsandtrademarks.Tobemorespecific,copyrightprotecttheexpressivearts;patentsprotectaninventionfrombeingmade,soldorusedbyotherforacertainperiodoftime;andtrademarksprotectthenamesandidentifyingmarksofproductsandcompanies.Forexample,mostChinesearelackoftheawarenessofprotectingintellectualproperty.IhavereadonceonnewspaperthataChineseboylivinginGermanybeingarrestedforillegallydownloadingthemovieAvengers.ButhedoesnotknowitisillegallyuntiltheGermanpolicemantoldhim.AndonefriendtoldmewhenshecopiedaGermancartoonmoviefromherGermanteacher,shewasaskedtopromisethatshewouldnotuseitasillegallyway.SoIthinktheChinesestillneedtolearnmore,farmoreaboutintellectualHumanresourcesThiscourseshowstometheactualuseofmodernmanagementtheoriesanddifferentfunctionsofHRmanagement,suchasrecruiting,training,compensationdesignandsoon.AndthemostimpressiveknowledgeIlearnedfromthiscourseisPerformancemanagement,whichmeanstomotivateemployeestoworkasmembersofagroup,toimproveorganizationaleffectivenessinordertoaccomplishcompany'sgoal.Itincludesplanningworkandsettingexpectations,continuallymonitoringperformance,developingthecapacitytoperform,periodicallyratingperformancetocheckwhothebestis,andrewardinggoodperformers.Forexample,whenIwasworkingintheaccountingfirm,everyyearIwasrequiredtocompletemyperformancegoals.Thosegoalscouldbetechnical-relatedorsoftskills.ThisperformancegoalswouldbesenttomymentordirectlyafterIsubmitted,sosheknewwhereIwantedtoimproveandcouldprovideherhelpifnecessary.Attheendoftheyear,alltheteamleadersoftheprojectsthatIhadinvolvedinwouldgivemefeedback,statingmyoverallperformanceoneachprojectandpointingoutmystrengthandweakness.Thenmymentorwouldsummarizeallthefeedbackandgivemetheoverallreviewofperformance.Andbeforethereviewwasfinalized,shewouldtalktometoseeifthere’sanyplacetodiscussandimprove.AndIfoundthissystemveryeffectivetohelpmyselfidentifymyweaknessandimprove.Anditisalsoimportanttothecompanybecausethegoalofthecompanyisachievedthroughthecumulativeworkofindividualemployee.WorldWorldeconomyintroducesmainlytheeconomicsituationsofsomerepresentativecountriesintheworld.Thiscoursedividestheworldeconomyintofivecategories.Therearedevelopedcountries,suchasAmericaandJapan;quickdevelopingcountries,likeLatinAmericaandArgentina;countrythrougheconomicsystemreforming,RussiafromtheSovietUnion;stablydevelopedeconomy,suchasNorwayandSwitzerland.Thecountrieswhoseeconomyisstillgrowing,suchasChinaandIndia,oneistheworld’smostimportantmanufacturingareaandtheotheristheworld’sITsupportcenter,bothsearchingfortheirowndevelopingroads.Statisticsisasciencewhichstudieshowtomeasure,collect,concludesandanalyzesthedatawhichreflectthetotalquantityobjectively.Mathematicalstatisticsisitstheorybasis.orexplanation,andpresentationofdata.Alsowithpredictionandforecastingbasedondata.Itisapplicabletoawidevarietyofacademicdisciplines,fromthenaturalandsocialsciencestothehumanities,governmentandbusiness.AdvancedInthiscourseIlearnedhowtosolvederivative(导数problem,forexample,f(x)equals4xsquare2plus3x,thenthederivateofthisquotationwillbe8xplus3.AndwealsolearnedIntegration(积分whichcanbethoughtoflikemeasuringtheareaunderacurvedefinedbyf(x),betweentwopoints,likeaandb.Forexample,thexaxisrepresentstime,andtheyaxisrepresentsspeedthedistanceistheareaoftheshadedregion.PublicInthiscourse,Ihavelearntthatanorganizationcanmakeuseofmediatoexpressinformationtoitstargetedaudience,inordertoachieveitsgoalortopromoteitsimagesamongthepublic.Wehavealsostudiedthecrisispublicrelations.Itdealswithanyorganization’ssuddenthreatthatmayharmitsimageorexistence.Therulesofcrisispublicrelationsistobetruewiththepublic,timelyandconstantlycommunicatetheprogressofcrisisandshowtheimageofundertakingresponsibilities.InternationaltradeInthiscoursewelearnedsomepracticalknowledgeaboutinternationaltrade.Firstly,tradetermslikeFOB,CIFandCFR.Theyarethreemostusefultradeterms.FOBmeansfreeonboard,CFRmeanscostandfreight,CIFmeanscostandfreightandinsurance.Inthesethreetradeterms,whatsellerneedstopaidisincreasing,buttheresponsibilityhasalltransferredtothebuyeroncethegoodscrosstheshipside.Forexample,acompanyinBrazilboughtathousandpiecessilk,andhechooseCIFasthetradeterm,thenIthesellerneedtoprepareallthedocumentsforexportfromChinaandpattheinsuranceandfrightforthegoods.Afterthegoodscrosstheshipside,ifbeforetheshipsail,thegoodsaccidentallyfellofftheshipandwereruined,thenthebuyerneedtocontactandnegotiatethecompensation.Andwelearnedpaymentsofinternationaltrade,suchasL/C,letterofcredit.D/P,documentsagainstpayment,whichcanbedividedintoD/PsightandD/Paftersightorafterdate.D/A,documentsagainstacceptance.Therisktotheexporterisdifferentwiththesethreekindsofpayment.ForexampleifIamgoingtoexporttenthousandmetersilktoyou,Iwouldchoosethesafestpaymenttome,L/C,becauseafterthecontractissigned,yourbankwillissuealetterofcredittome.ThenIwillconsignthegoodstothecarrierinexchangeforabilloflading.AfterthatIcanprovidealltherequireddocuments(includingthebilloflading)tothebankinexchangeforpaymentandthereisnoriskfrommyside.Thenmybankexchangesbillofladingforpaymentfromyourbank.Thenyourbankexchangesbillofladingforpaymentfromyou,atlast,youprovidesbillofladingtomycarrierandtakesdeliveryofgoods.AndsomedetailsprocessofdoingbusinesswithforeignWestudiedthedetailedprocessofdoingbusinesswithforeigncompaniesinthisAftersearchingandinvestigatingasuitablecompanywithpossiblebusiness,weneedtodoinquiry,offerandacceptance.Thisisanegotiationprocess.Thenwesignthecontract.Duringthisprocess,weneedtodefinethenameofcommodity,packageandquantityaccurately.Andwemuststateclearlywhattradetermandwhichlegislationweuseinthisbusiness.Therearedifferentkindsoftradeterms,suchasFOB(freeonboard),CIF(costinsuranceandfreight),andCFR(costandfreight).Thesetermsexplaintheresponsibilitiesanddutiesofshipperandconsignee.Aftersigningthecontract,thesellerneedstoprepareforthecargo,docustomclearanceandinspection.Beforeconnectingwithcarrier,theshipperorconsigneeneedstoconfirminsurance.Therearemanytransportways.Suchasshipping,rail,andair.Wechoosethewaysaccordingtothecargoandparticularcase.Thenormalandbasicwayiscontainertransport.Afterthecargoarrivesatthedestination,consigneepaysandgetsbills.Thenhetakesdeliverywiththebills.Therearetwotypesofbills.Originalbillandseawaybill.TheConsigneealsocanrequesttodotelexrelease.Thepaymentwaysconsistofremittance,collectionandletterofcredit.Afterthebuyerpaysforallthefeesandpicksupthecargo,thisbusinessisfinished.Thiscoursemainlydiscussedtheperformance,structure,behavior,anddecision-makingofaneconomyasawhole,ratherthanindividualmarkets.WefirstlearnedhowtomeasureGDPinexpendituremethod.GDPmeansthemarketvaluesofallfinalproductswhichonecountryappliesproductionfactorstoproduce.TheformulaisGDP=C+I+G+(X-M).Cmeansconsumption,Iisinvestment,Gmeansgovernmentexpenditure,Xisexport,Misimport,soX-Mmeansnetexport.ThenwestudiedIS,LMcurve.Incoordinatesystem,IScurveslopesdown,Xaxismeansyield,Yaxismeansrate.Anypointofthislinemeansinvestmentequalssaving,namelytheproductmarketsarebalanced.LMcurveascends,Xaxisalsomeansyield,Yaxismeansrate.Anypointofthislinemeanscurrencysupplyequalstocurrencydemand,namelythemoneymarketsarebalanced.DrawtheISandLMcurvesinonecoordinatesystem,thepointwhichtheycrossmeansbothproductandmoneymarketsarebalancedatthesametime.Thisistheidealsituation.ThenwestudiedFiscalpolicyandmonetarypolicy.Commonly,Fiscalpolicyistochangegovernmenttaxrevenueandexpenditure.Whentheeconomyisdepressed,loosemonetarypolicyandfiscalpolicyareneeded.Whenthedepressionisnottooheavy,loosefiscalpolicycanstimulatetheaggregatedemandandtightmonetarypolicycancontrolinflation.Whentheeconomyisinflated,tightfiscalpolicyandmonetarypolicycanbeeffective.Butwhentheinflationisnottooserious,tightfiscalpolicycanreduceaggregatedemandandloosemonetarypolicywillassistdecreasingtherateandavoideconomydecline.BusinessInthiscoursewelearnedtheimportanceofethicstothedevelopmentorexistenceofacompany.Afterstudiedmanycasesthatoncegiantorprosperouscompaniesfailedbecauseitdidnotbehaveethicallyandthuslostthetrustofconsumersandthesociety.Andalsointoday’sbusinessenvironment,becausesocietyattachgreaterimportancetohowacompanybehaveandwhetheritmakescontributiontothesociety,pursuingprofitsandethicsarenolongercontradictory.Andinmanycases,acompany’sethicalbehaviorcanhelptokeepitsimageorevenhelpitsprofitThiscoursewelearnedsomebasicknowledgeaboutmarketing,whichmeanstotelltheinformationtopotentialbuyersothattheygettoknowandbuytheproduct.Firstofall,welearned4Pmodel,whichreferstoproduct,price,placeandpromotion.Thesearetheelementsyouneedtoconsiderwhenyoudevelopingaproductintomarket.Forexample,ifIwanttosellthiscup,Ineedtoknowifitcansatisfyconsumer.Canconsumerdrinkwiththiscup?Andthen,whatpriceshouldIsetforthiscup.Icansetitaccordingtotheproductioncostorsetitaccordingtothepricewhichothersellerssetforthiskindofcup.Andplace,likewhatdistanceshouldIbuildmyfactoryorwhereshouldIsetthiscupinaretailer'sstore.Last,thepromotion,whichisaveryimportantpart,itincludestargetthetypeoftheconsumerofthiscup,likeisitmadeforbusinessoccasionorforparty?Andtheninthiscourse,llearnedaveryusefultheory,theproductlifecycletheory.Itreferstomostproducthavefourstagesinacertainmarket:introduction,growth,maturity,andsaturationanddecline.Eachstagehasitsownfeature,wecancomparingtheminsales,investmentcost,competition,advertisingandprofit.Andondifferentstages,weshouldapplydifferentmarketingtactics.Forexample,thecellphoneresourcesandtheymakedecisionsonhowtoallocate['æləkeɪt]oruselimitedresources.Thenwemainlydemandcurveandsupplycurve.Inthecoordinatesystem坐标系XaxismeansquantityandtheYaxismeansthepriceofproduct.Thedemandcurveslopesdown,itmeansifthepriceishigher,thenpeople’sdemandforthisproductislower.Andthesupplycurvemoreproducts.Thecrosspointisanequilibrium,meaningthedemandandsupplyinmarketforthisproductareequal,andthemarketreachesbalance.Wegetequilibriumpriceandequilibriumquantityatthispoint.ThenwestudiedutilitytheoryUtilityisthesatisfactiondegree（满意度）thattheconsumerattheconsumptionoftheproduct.Intheutilitytheory,wemainlystudiedbudgetlineandindifferencecurve.Giventheincomeofconsumerandpriceofproduct,budgetlinemeansalltheincomecanaffordvariouscombinationsofthesetwoproducts.Indifferencecurvemeansallcombinationsofthesetwoproductswhichcangivetheconsumerssameutilitylevelandsatisfactiondegree.Puttheminonecoordinatesystem,thesetwoaxesmeanproductoneandtwo.Draw3indifferencecurveswhichshowthedifferentlevelsofutilities.Thetangencypointrepresentsthebestproductcombinationunderthisbudgetcontrolcondition.ThispointthemaximumAndwealsolearnedcosttheory,producttheoryandmarkets.Marketsaredividedintoperfectcompetitionmarketandimperfectcompetitionmarket,namelymonopoly market,monopolisticcompetitionandoligopoly（[,ɒlɪ'gɒp(ə)lɪ]寡占；寡头买主垄断）market.OperationsInthiscoursewefirststudiedthetwocomponentsofoperationsmanagement:firstthemanagementoftheproductiontransforminginputintooutput(productsorservices),andsecondthemanagementofthesystemthatissupportingtheproductionprocess.Thenwestudiedthemoderndevelopmentorapplicationofoperationsmanagement,likeERP,SCM.Bothsystemshaveseentheoperationsmoretheinternalproductionactivities,butintegratedtheresourcesinsideandoutsidethecompanyinordertomakeoperationsmoreeffectivelyandefficiently.Thiscourseintroducedtheactualoperationsinacompanyespeciallyintheproduceandinventorystage.Sincethemoderncorporationhaverealizeditcostthemafortuneonsuchpartsliketransportationandinventory,sotheystarttofocusonmanagingthispartsefficientlytosavesomecost.Forexample,welearnedhowtheproductshouldbearrangeinthestorehouseaccordingtothepick-upfrequencyandamount.Andwelearnedanextraordinaryoperatesystem—JIT,justintime.InventedandusedbyTOYOTA,itreducedthein-progressinventoryandassociatecarryingcost.ThesoulofthesystemisnoinventoryandMIS,itisapullproduction.Forexample,nowIboughtaTOYOTAcar,thenthemanagerofthesellingstoreuploadthisinformationintheirMISsystem,thentheproducersstarttoproducethedifferentpartofthecar,andthensendittothefactorytoputthemtogether,afterthatjustsendthemouttothesellingstore.Noinventory!StrategyThiscoursemainlyintroduceshowtosettheoverallplanforawholeorganizationtofulfillitsvisionandmission,whichmeansthatthestrategyofanyorganizationisbasedonthevision.Inordertodesignsuitablestrategy,thecompanyshoulduseSWOTmodeltoanalyzeitsstrength,weakness,opportunity,andthreat.Andacompanyhasdifferentstrategiestochoose.Forexampleonthebusinesslevel,itcanchoosefromDifferentiation,CostandSegmentationstrategy.InternationalInthiscoursewestudiedmainlyforeignexchangeandbalanceofpayments.Foreignexchangeconsistsofforeigncurrency,securitiesandpaymentinstrumentintheformofforeigncurrencyandotherforeigncurrencyassets.Thenwestudiedtwoquotationsofexchangerate,directquotation(Oneunitforeigncurrencyequalshowmuchdomesticcurrency)andindirectquotation(oneunitdomesticcurrencyequalshowmuchforeigncurrency).InChina,weusedirectquotation.Andwealsolearnedbalanceofpayments(BoP).BoPaccountsareanaccountingrecordofallmonetarytransactionsbetweenacountryandtherestoftheworld.TheBoPaccountssummarizeinternationaltransactionsforaspecificperiod,usuallyayear,andarepreparedinasinglecurrency.Sourcesoffunds(exportsorthereceiptsofloansandinvestments)arerecordedaspositiveorsurplusitems.Usesoffunds(importsortoinvestinforeigncountries)arerecordedasnegativeordeficititems.Thereare3partsintheBOPaccounts:currentaccount,capitalaccount,andbalancingitem(/Officialsettlementsaccount).BoPsurplus=currentaccountsurplus+narrowlydefinedcapitalaccountIfthereisacreditbalanceinthestatement,itmeansthereissurplusinbalanceofpayments,namelytheforeignincomeismorethanexpenditureforthiscountryinthisperiod,whichwillenhancetheabilityofinternationalreserveandforeignpayment.ThenwestudiedtheExchangeRate.Itmeansthepriceatwhichonecurrencyexchangesforanotheriscalledaforeignexchangerate.Currencydepreciationisthefallinthevalueofthecurrencyintermsofanothercurrency.Currencyappreciationistheriseinvalueofthecurrencyintermsofanothercurrency.InternationalInthiscourse,Ilearnedfreetradeandprotectionism.Freetradeisatradepolicythatallowstraderstoactortransactwithouttheinterferencefromgovernment,underthistradepolicy,pricesareareflectionoftruesupplyanddemand,andarethesoledeterminantofresourcesallocation.Andprotectionismistheeconomicpolicyofrestrainingtradebetweenstates,throughmethodsliketariffsonimportedgoods,restrictivequotasandsomeothergovernmentregulationsdesignedtodiscourageimportsandpreventforeigncompaniestakeoverdomesticmarketsandcompanies.Forexample,Walmartinchina.TwosupermarketsfromWalmart,ShenzhenWalmartandBeijingWalmartmighthavedifferentpricesononegoods,becauseShenzhenasaneconomicspecialzone,doesn’tallowprotectionismtoexist.Inordertoprotectthedomesticretailer,theChinesegovernmentsetupaseriesoftaxpolicyforforeignretailers.Thirdly,welearnedbalanceoftrade,whichreferstothedifferencebetweenthemonetaryvalueofexportsandimportsofoutputinaneconomyoveracertainperiod.Apositiveorfavorablebalanceoftradeisknownasatradesurplusifitconsistsofexportingmorethanisimported;anegativeorunfavorablebalanceisreferredtoasatradedeficitoratradegap.Surplusappearsonthebalanceofpaymentwillbeasacreditbalance,theadvantageofitisitwillenhancetheabilityofinternationalreserveandforeignpayment,butitalsohavedisadvantagesaboutit.ForexamplechinaandAmerican:1.ItwillincreasethepressureofRMBappreciation,becausefavorablebalanceoftradewillmakethesupplyofdollarmorethandemand,thenwillcausetheexpectationofdollardepreciationandRMBappreciation,thenitwouldincreasethepressureofRMBappreciation,themoresurplusgetthebiggerpressureofRMBappreciationgets.Favorablebalanceoftradewouldcauseinternationaltradefriction,china'shavingfavorablebalancemeansthecountriesdoingbusinesswithchinawillhaveunfavorablebalance,thentheywilluselimittheexportofchina'sproducttoprotecttheirdomesticindustry,forexample,afterChinajoinWTO,tradebetweenChinaandAmericanhasthelargestdeficit,soChina'srelationshipwithAmericanhasalwaysbeensotight.2.InternationaltradeInthiscoursewestudiedmanyimportanttheoriesofinternationaltrade.Thebasicandmostimportantone—classicaltradetheorywasdevelopedoncriticizingMercantilism,whichincludesAdamSmith’stheoryofabsoluteadvantageandDavidRicardo’stheoryofcomparativeadvantage.Classicaltradetheorystatesthecause,structureandbenefitdistributionofinternationaltradefromtheviewoflaborproductivity.Mercantilism重商主义holdstheview:theonlyformofwealthisgoldandsilver.quantityofgoldandsilveristheonlywaytomeasureacountry’swealth.Andthemainwaytogetgoldandsilverisinternationaltradesurplus.Absoluteadvantagetheory:AdamSmithputforwardtheabsoluteadvantagetheoryonthebasisofdivisionoflabortheory.Hethoughtthebaseofinternationaltradeisabsolutedifferenceoflaborproductivityandproductioncostforgoodsfromvariouscountries.Everycountryshouldproducethegoodswithabsoluteadvantageanddobusinessforexchangethegoodswithabsolutedisadvantage,whichwillmakefulluseofeverycountry’sresources.Thiswillpromotedivisionoflaborandexchangebetterandeachcountrycangainthegreatestbenefits.Comparativeadvantagetheory:Consideringthelimitationofabsoluteadvantagetheory,DavidRicardoputforwardthistheory.Hethoughtthetradedivisionisnotlimitedtoabsolutecostdifferences.Evenifthelaborproductivityoftheproductsinonecountryisingoodorbadposition,solongasthedegreeofadvantagesanddisadvantagesaredifferent,thiscountryshoulddointernationaltradebyproducingthelaborproductivitywithlessdifference.Thiswillgetmorebenefits.MonetaryInthiscourse,Ilearnedthemainlyaboutthebank.Thebankisafinancialinstitutionwhoseprimaryactivityistoactasapaymentagentforcustomersandtoborrowandlendmoney.Nowbankscanoffermanydifferentchannelsandservices,suchasbranches,ATMs,mails,telephonebankingandonlinebanking.Peoplecangettheseserviceseasily.Forexample,Ipreferbuyingsomethingontheinternet,becauseitisveryeasyandbymyonlinebankingIcanpaythebillsquickly.WhenIwanttotransformsomemoneytosomeone,viaonlinebankingIcandoitandcheckmyacco