山东大学货币经济学(英)授课教案

山东大学货币经济学（英）授课教案

课程代码0023100710-4授课日期月日（）课程名称Monetary Economics 授课方式授课+讨论授课教师姓名Kong Danfeng (孔丹凤)职称Professor授课对象金融数学2011级 39人

留学生2人（荷兰、意大利）授课时数18周周3授课地点中心理综楼208本单元或章节的教学目的与要求

Chapter 2 An Overview of the Financial System

This chapter is an introductory chapter that contains the background information on the structure and operation of financial markets that is needed in later chapters of the book. This chapter allows the instructor to branch out to various choices of later chapters, thus allowing different degrees of coverage of financial markets and institutions.

The most important point to transmit to the student is that financial markets and financial intermediaries are crucial to a well-functioning economy because they channel funds from those who do not have a productive use for them to those who do.

The chapter introduces Global boxes, which are sprinkled throughout the text, to get students to recognize the growing importance of the global economy. 授课主要内容及学时分配

Chapter 2 An Overview of the Financial System

* Function of Financial Markets

* Structure of Financial Markets

Debt and Equity Markets

Primary and Secondary Markets

Exchanges and Over-the-Counter Markets

Money and Capital Markets

* Financial Market Instruments

Money Market Instruments

Capital Market Instruments

* Internationalization of Financial Markets

International Bond Market, Eurobonds, and Eurocurrencies

World Stock Markets

* Function of Financial Intermediaries: Indirect Finance

Transactions Costs

Risk Sharing

Asymmetric Information: Adverse Selection and

?Moral Hazard

* Types of Financial Intermediaries

Depository Institutions

Contractual Savings Institutions

Investment Intermediaries

* Regulation of the Financial System

Increasing Information Available to Investors

Ensuring the Soundness of Financial Intermediaries

Financial Regulation Abroad重点、难点及对学生的要求（掌握、熟悉、了解、自学）

* Why Study Money and Monetary Policy?

Money and Business Cycles

Money and Inflation

Money and Interest Rates

Conduct of Monetary Policy

Fiscal Policy and Monetary Policy

主要外语词汇

Chapter 2 An Overview of the Financial System

adverse selection Eurocurrencies Eurodollars exchanges money market

moral hazard over-the-counter (OTC) market asymmetric information brokers

capital capital market currency federal funds rate financial intermediation financial panic portfolio primary

market risk dealers default

diversification dividends economies of scale equities Eurobond foreign bonds intermediate-term investment bank liabilities liquid

liquidity services long-term maturity risk sharing secondary market

short-term thrift institutions(thrifts) transaction costs underwrite underwriting辅助教学情况（多媒体课件、板书、绘图、标本、示教等）

多媒体课件、板书

课程网站资源

https://www.360docs.net/doc/1710456803.html,/G2S/Template/View.aspx?action=view&courseType=0&cou

rseId=325复习思考题

Chapter 2 An Overview of the Financial System

l. Why is a share of Microsoft common stock an asset for its owner and a liability

for Microsoft?

2. If I can buy a car today for $ 5,000 and it is worth $ 10,000 in extra income next

year to me because it enables me to get a job as a traveling anvil seller, should

I take out a loan from Larry the Loan Shark at a 90% interest rate if no one else

will give me a loan? Will I be better or worse off as a result or taking out this

loan? Can you make a case for legalizing loan-sharking?

3. Some economists suspect that one of the reasons that economies in developing countries grow so slowly is that they do not have well-developed financial markets.

Does this argument make sense?

4. The U.S. economy borrowed heavily from the British in the nineteenth century to

build a railroad system. What was the principal debt instrument used? Why did this

make both countries better off?

5. "Because corporations do not actually raise any funds in secondary markets, they

are less important to the economy than primary markets. "Comment.

6. If you suspect that a company will go bankrupt next year, which would you rather

hold, bonds issued by the company or equities issued by the company? Why?

7 . How can the adverse selection problem explain why you are more likely to make

a loan to a family member than to a stranger?

8. Think of one example in which you have had to deal with the adverse selection problem.

9 . Why do loan sharks worry less about moral hazard in connection with their borrowers than some other lenders do?

10. If you are an employer, what kinds of moral hazard problems might you worry about with your employees?

11 . lf there were no asymmetry in the information that a borrower and a lender had, could there still be a moral hazard problem?

12. "In a world without information and transaction costs, financial intermediaries would not exist." Is this statement

True, false, or uncertain? Explain your answer.

13. Why might you be willing to make a loan to your neighbor by pulling funds in a savings account earning a 5% interest rate at the bank and having the bank lend her the funds at a 10 % interest rate rather than lend her the funds yourself?

14. How does risk sharing benefit both financial intermediaries and private investors?

15. Discuss some of the manifestations of the globalization of world capital markets.参考教材（资料）

1、 Frederic S. Mishkin, The Economics of Money, Banking, and Financial Markets, 8th Edition,

Pearson Education, 2007.

2、米什金，《货币金融学（中文版）》（第九版）（郑艳文、荆国勇译），中国人民大学出版社，2011年。

3、姜旭朝、胡金焱、孔丹凤，《货币经济学》（第二版），经济科学出版社，2008年。

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