金融学英文课件(5)
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金融英语ppt
Financial English 2014
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Opposition to the Bank
be opposed to… 反对… be in the best interest of sb. / be in sb.’s best interest 某人的最大/最佳利益 in question
讨论中的；谈及的
私营部门和公共部门
Financial English 2014
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II. Membership
--To become a member of the WBG, what should a country do first? --How should a member pay for the 195 Bank shares? -- Where does the president of the World Bank come from? --What are the five largest shareholders? --Where does the World Bank get its funding?
Financial English 2014
◄ ►●
The Parts That Make Up the Whole
Its five agencies are:
International Bank for Reconstruction and Development (IBRD)
国际复兴开发银行
International Development Association (IDA)
Chapter
3
The World Bank Group
Financial English
Bodie2e_Chapter01 Financial Economics 英文版PPT 金融学(第二版)
11 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
Financial Decisions of Firms
• Strategic plans specify the business the firm is in
Defining Finance
• Financial theory consists of:
– the set of concepts that help to organize one’s thinking about how to allocate resources over time
– the set of quantitative models used to help evaluate alternatives, make decisions, and implement them
• These concepts and models apply at all levels and scales of decision making
– Preferred stock holders usually gain some control if preferred dividends are not paid
– Bondholder covenants restrict decisions that could adversely affect bond values
– they vary widely in size from part-time businesses run from a spare room, to giant corporations (e.g. Mitsubishi or General Motors) with hundreds of thousands of employees, and an even larger ownership
Financial Decisions of Firms
• Strategic plans specify the business the firm is in
Defining Finance
• Financial theory consists of:
– the set of concepts that help to organize one’s thinking about how to allocate resources over time
– the set of quantitative models used to help evaluate alternatives, make decisions, and implement them
• These concepts and models apply at all levels and scales of decision making
– Preferred stock holders usually gain some control if preferred dividends are not paid
– Bondholder covenants restrict decisions that could adversely affect bond values
– they vary widely in size from part-time businesses run from a spare room, to giant corporations (e.g. Mitsubishi or General Motors) with hundreds of thousands of employees, and an even larger ownership
《金融学》PPT课件(清华大学出版社)高等学校应用型特色规划教材ECONOMICS OF MONEY AND FINANCE
第一章 金融导论
【专栏1－2】
金融领域覆盖范围 按 照 联 合 国 统 计 署 有 关 “ Financial and Related Service”(金融及相关服务)这一项统计口径，其覆盖面大致为：
——金融中介服务，包括中央银行服务、存贷业务和银行中介 业务的服务；
——投资银行服务； ——非强制性的保险和养老金服务、再保险服务； ——房地产、租借、租赁等服务；
第一章 金融概述
第一节 金融与金融体系
货币的流通及其管理 货币资金的筹集
金 融 活 动
财政、银行的资金分配 企业内部的资金分配 间接融通和直接融通 资金的融通 资金的配置和调度 信贷资金结构的调整和管理
纵向融通和横向融通
国内融通和国际融通
资金周转速度及资金运用效率的管理
第一章 金融概述
第一节 金融与金融体系
第一章 金融导论
第一节 金融概述
三、金融体系
金融体系是国民经济体系内围绕资金融通、由相关要素 有机构成的子系统。 金融工具 金融体系 金融市场 金融制度 金融机构
第一章 金融导论
第一节 金融概述
（一）金融工具 金融工具又称信用工具，通常是依一定格式作成、用 以证明或创设金融交易各方权利和义务的书面凭证。
（二）金融机构
凡专门从事各种金融活动的组织，均称金融机构。金 融机构的职能，概括言之，就是组织社会资金的运动，建 立或疏通资金融通的渠道。
第一章 金融导论
第一节 金融概述
（三）金融市场 金融市场即资金融通的场所，它是经济生活中与商品市 场、劳务市场和技术市场并列的一种市场。通过金融市场， 资金的供求双方，直接或借助于信用中介进行资金的融通， 并基于资金供求的对比，形成相应的市场“价格”，即利率。 （四）金融制度 金融制度是由金融立法、基本金融政策和金融规章建立 起来的，有关金融交易、金融调控和金融监管的相对稳定的 运行框架和办事规程。
Bodie2eChapter05 Household Saving and Investment Decisions 英文版PPT金融学(第二版) 教学课件
R e al $
fund H um anC ap C apital
300000 200000 100000 0 35 -100000 Age
12
45
55
65
75
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
The Inter-temporal Budget Constraint
– The analysis becomes progressively more complex as we make the assumptions more realistic.
• What if you don’t know your date of death., returns are risky, et cetera?
8 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
Maintain the same level of consumption spending
– Assume that your level of real consumption is C
– $30,000*0.75 = $22,500/year – using your calculator compute the present value of the retirement funds as an regular annuity
n=15, i = 3, FV=0, PMT=-22,500 -> PV=268,604
Chapter 5: Household Saving and Investment Decisions
fund H um anC ap C apital
300000 200000 100000 0 35 -100000 Age
12
45
55
65
75
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
The Inter-temporal Budget Constraint
– The analysis becomes progressively more complex as we make the assumptions more realistic.
• What if you don’t know your date of death., returns are risky, et cetera?
8 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
Maintain the same level of consumption spending
– Assume that your level of real consumption is C
– $30,000*0.75 = $22,500/year – using your calculator compute the present value of the retirement funds as an regular annuity
n=15, i = 3, FV=0, PMT=-22,500 -> PV=268,604
Chapter 5: Household Saving and Investment Decisions
公司金融学教学课件 (5)
Chapter Tasks
● Know the basic types of financial management decisions and the role of the financial manager ● Know the goal of financial management ● Know the financial implications of the different forms of business organization ● Understand the conflicts of interest that can arise between owners and managers ● Two central issues:
ü How much cash and inventory should be kept ü Cash sales? Credit sales? ü Short-term financing channle?
1.3 FORMS OF BUSINESS ORGANIZATION
• Three legal forms of business organization
1.2 BUSINESS FINANCE AND THE FINANCIAL MANAGER
The Financial Manager
• Financial managers try to answer some or all of the questions mentioned • The top financial manager within a firm is usually the Chief Financial Officer (CFO)
• Accounting
利息与利率金融学教学课件5
二、利息的本质
1.西方经济学家的观点 西方经济学家的代表人物主要有威廉·配第和亚当·斯密。 威廉·配第认为，货币持有人贷出货币就等于放弃了用这笔货 币购置土地而能获得的地租，所以它应该获得相应的补偿。因 此利息同地租一样公道、合理，符合自然规律。亚当·斯密认 为，利息的来源有两个：一是当借款用做资本时，利息来源于 利润；二是当借款用于消费时，利息来源于别的收入，如地租 等。
2.现值 复利现值就是按照复利方式计算以后若干期一定数量资金现在的价值。计 算公式为： PV=FV/（1+r）n
目录 上一页 下一页
Hale Waihona Puke 第四章 利息与利率（三）银行贴现
银行贴现是用单利法以期满偿还金额计算利息。计算公式如下： 现值=汇票面额-贴现利息 贴现利息=终值×利率×时间
=汇票面额×贴现天数×（月贴现率÷30） 同样运用单利法进行现值计算，则真实的现值计算是以期初实贷金额 计算利息。计算方法如下：
现值=终值/（1+利率×时间） 贴现所扣利息=终值-现值
目录 上一页 下一页
第四章 利息与利率
（四）零存整取和整存零取
1.零存整取 零存整取是每月按同一金额存入，到约定的期限将本利和 一次取出。零存整取实际是一种期初年金现象。 2.整存零取 整存零取是一次存入若干金额的货币，在以后预定的期限 内，每年提取等额的货币，当达到最后期限的一次提取时，将 本利全部取完。整存零取同样是一种年金现象，可按照普通年 金现值来计算。
目录 上一页 下一页
第四章 利息与利率
第四节 利率市场化
一、利率市场化的含义
所谓利率市场化，是指市场资金借贷的利率由供求双方根据资 金供求的情况来自主调节，最终形成以中央银行基准利率为引导，以 同业拆借利率为金融市场基准利率，各种利率保持合理利差和分层有 效传导的利率体系。利率市场化有如下含义：
1.西方经济学家的观点 西方经济学家的代表人物主要有威廉·配第和亚当·斯密。 威廉·配第认为，货币持有人贷出货币就等于放弃了用这笔货 币购置土地而能获得的地租，所以它应该获得相应的补偿。因 此利息同地租一样公道、合理，符合自然规律。亚当·斯密认 为，利息的来源有两个：一是当借款用做资本时，利息来源于 利润；二是当借款用于消费时，利息来源于别的收入，如地租 等。
2.现值 复利现值就是按照复利方式计算以后若干期一定数量资金现在的价值。计 算公式为： PV=FV/（1+r）n
目录 上一页 下一页
Hale Waihona Puke 第四章 利息与利率（三）银行贴现
银行贴现是用单利法以期满偿还金额计算利息。计算公式如下： 现值=汇票面额-贴现利息 贴现利息=终值×利率×时间
=汇票面额×贴现天数×（月贴现率÷30） 同样运用单利法进行现值计算，则真实的现值计算是以期初实贷金额 计算利息。计算方法如下：
现值=终值/（1+利率×时间） 贴现所扣利息=终值-现值
目录 上一页 下一页
第四章 利息与利率
（四）零存整取和整存零取
1.零存整取 零存整取是每月按同一金额存入，到约定的期限将本利和 一次取出。零存整取实际是一种期初年金现象。 2.整存零取 整存零取是一次存入若干金额的货币，在以后预定的期限 内，每年提取等额的货币，当达到最后期限的一次提取时，将 本利全部取完。整存零取同样是一种年金现象，可按照普通年 金现值来计算。
目录 上一页 下一页
第四章 利息与利率
第四节 利率市场化
一、利率市场化的含义
所谓利率市场化，是指市场资金借贷的利率由供求双方根据资 金供求的情况来自主调节，最终形成以中央银行基准利率为引导，以 同业拆借利率为金融市场基准利率，各种利率保持合理利差和分层有 效传导的利率体系。利率市场化有如下含义：
米什金货币金融学(商学院版)第5章课件
Copyright © 2010 Pearson Addison-Wesley. All rights reserved.
6-5
Table 1 Bond Ratings by Moody’s, Standard and Poor’s, and Fitch
Copyright © 2010 Pearson Addison-Wesley. All rights reserved.
– U.S. Treasury bonds are considered default free (government can raise taxes).
– Risk premium: the spread between the interest rates on bonds with default risk and the interest rates on (same maturity) Treasury bonds
Copyright © 2010 Pearson Addison-Wesley. All rights reserved.
6-9
Term Structure of Interest Rates
• Yield curve: a plot of the yield on bonds with differing terms to maturity but the same risk, liquidity and tax considerations
U.S. Treasury bonds are the most liquid of all long-term bonds.
• Income tax considerations
– Interest payments on municipal bonds are exempt from federal income taxes.
6-5
Table 1 Bond Ratings by Moody’s, Standard and Poor’s, and Fitch
Copyright © 2010 Pearson Addison-Wesley. All rights reserved.
– U.S. Treasury bonds are considered default free (government can raise taxes).
– Risk premium: the spread between the interest rates on bonds with default risk and the interest rates on (same maturity) Treasury bonds
Copyright © 2010 Pearson Addison-Wesley. All rights reserved.
6-9
Term Structure of Interest Rates
• Yield curve: a plot of the yield on bonds with differing terms to maturity but the same risk, liquidity and tax considerations
U.S. Treasury bonds are the most liquid of all long-term bonds.
• Income tax considerations
– Interest payments on municipal bonds are exempt from federal income taxes.
金融英语(4-13)ppt课件(全)
➢ Interest
Chapter 4 Financial Markets 4.1 Types of Financial Markets
Direct financial market and indirect financial market
• In direct financial market, borrowers borrow funds directly from lenders without using a third party service.
Indirect finance is where borrowers borrow funds from the financial market through a financial intermediary, such as through a bank.
Chapter 4 Financial Markets
Chapter 4 Financial Markets
4.3 Participants of Financial Markets
➢ Financial intermediaries. Financial intermediaries are institutions which attempt to serve the needs of both lenders and borrowers. They accept funds from surplus units and channel the funds to deficit units. In addition, they provide a variety of specific services, such as money transmission facilities, evaluating the creditworthiness of the borrowers, advice on corporate finance and so on.
Chapter 4 Financial Markets 4.1 Types of Financial Markets
Direct financial market and indirect financial market
• In direct financial market, borrowers borrow funds directly from lenders without using a third party service.
Indirect finance is where borrowers borrow funds from the financial market through a financial intermediary, such as through a bank.
Chapter 4 Financial Markets
Chapter 4 Financial Markets
4.3 Participants of Financial Markets
➢ Financial intermediaries. Financial intermediaries are institutions which attempt to serve the needs of both lenders and borrowers. They accept funds from surplus units and channel the funds to deficit units. In addition, they provide a variety of specific services, such as money transmission facilities, evaluating the creditworthiness of the borrowers, advice on corporate finance and so on.