米什金货币金融学PPT课件

1、 2006 Pearson Addison-Wesley. All rights reserved1-1Why Study Financial Markets? 1.Channel funds from savers to investors, thereby promoting economic efficiency2.Affect personal wealth and behavior of business firmsWhy Study Banking and Financial Institutions? 1.Financial IntermediationHelps get fun

2、ds from savers to investors2.Banks and Money SupplyCrucial role in creation of money3.Financial InnovationWhy Study Money and Monetary Policy?1.Influence on business cycles, inflation, and interest rates第1页/共13页 2006 Pearson Addison-Wesley. All rights reserved1-2Bond Market第2页/共13页 2006 Pearson Addi

3、son-Wesley. All rights reserved1-3Stock Market第3页/共13页 2006 Pearson Addison-Wesley. All rights reserved1-4Foreign Exchange Market第4页/共13页 2006 Pearson Addison-Wesley. All rights reserved1-5Money and Business Cycles第5页/共13页 2006 Pearson Addison-Wesley. All rights reserved1-6Money and the Price Level第

4、6页/共13页 2006 Pearson Addison-Wesley. All rights reserved1-7Money Growth and Inflation第7页/共13页 2006 Pearson Addison-Wesley. All rights reserved1-8Money Growth and Interest Rates第8页/共13页 2006 Pearson Addison-Wesley. All rights reserved1-9Fiscal Policy and Monetary Policy第9页/共13页1-10How We Study Money

5、and BankingBasic Analytic Framework1.Simplified approach to the demand for assets2.Concept of equilibrium3.Basic supply and demand approach to understand behavior in financial markets4.Search for profits5.Transactions cost and asymmetric information approach to financial structure6.Aggregate supply

6、and demand analysisFeatures1.Case studies2.Applications3.Special-interest boxes4.Following the Financial News boxes5.Reading the Wall Street Journal6.Web Exercises and URLs第10页/共13页 2006 Pearson Addison-Wesley. All rights reserved1-11Appendix: DefinitionsAggregate OutputGross Domestic Product (GDP)

7、= Value of all final goods and services produced in domestic economy during yearAggregate IncomeTotal income of factors of production (land, capital, labor) during yearDistinction Between Nominal and RealNominal = values measured using current pricesReal = quantities, measured with constant pricesAg

8、gregate Price Level nominal GDPGDP Deflator = real GDP $10 trillion GDP Deflator = = 1.11 $9 trillionConsumer Price Index (CPI) price of “basket” of goods and services第11页/共13页 2006 Pearson Addison-Wesley. All rights reserved1-12Appendix: DefinitionsGrowth Rates and the Inflation Rate11Growth Rate100tttxxx$9.5 trillion$9 trillionGDP Growth Rate1005.6%$9 trillion113 111Inflation Rate1001.8%111AnnMarie:There is nothing sh