何谓金融市场(ppt 12).ppt

1,Chapter1,WhyStudyMoney,Banking,andFinancialMarkets?,2,WhyStudyFinancialMarkets?(1),何謂金融市場(financialmarkets)?交易金融商品(financialinstruments)的地方。圖解金融商品=有價證券（security）=papers+lawsex.Stocks(股票)、bonds(債券)erestrate(利率)、Exchangerate(外匯)同學自由發揮，想想還有誰？,3,（投資）,（融資）,4,WhyStudyFinancialMarkets?(2),Bondsv.s.InterestrateMarketsDef.ofabond:Adebt(債務)securitythatpromisetomakepayments(支付本金及利息)periodicallyforaspecifiedperiodoftime.由資金需求者發行(issue):國內外公司(企業)：公司債(corporatebonds)國內外政府：公債(governmentbonds)金融中介機構(i.e.銀行banks)：金融債券(financialbonds),5,WhyStudyFinancialMarkets?(3),Bondsv.s.InterestrateMarketsDef.ofinterestrate:Thecostofborrowingorthepricepaidfortherentaloffunds.表示法：市場利率的種類:存款利率貸款利率與債市息息相關的利率：seeFig.1利率與貨幣(money)的關係,6,WhyStudyFinancialMarkets?(4),StockMarketsDef.ofastock:公司所有權的表徵1.representsashare(股份)ofownershipinacorporation.2.Itisasecuritythatisaclaimontheearningsandassetsofthecorporation(公司).股票的種類:普通股(commonstocks)特別股(preferredstocks)美國道瓊指數歷史圖：seeFig.2,7,Fig.2美國道瓊工業指數價格歷史圖,8,WhyStudyFinancialMarkets?(5),ForeignExchangeMarketsDef.offoreignexchange:兩國國幣之比值稱之。表示法：外匯的重要性:國際貿易政府政策避險與套利,9,WhyStudyBankingandFinancialInstitutions?,FinancialIntermediationHelpsgetfundsfromsaverstoinvestorsBanksandMoneySupplyCrucialroleincreationofmoneyFinancialInnovation,10,FiscalPolicyandMonetaryPolicy,財政政策(Fiscalpolicy)稅收政府支出政府預算赤字或盈餘貨幣政策(Monetarypolicy)