经济金融专业-德国APS审核资料
西方经济学必修课 3.0
Western Economics
This course we mainly learn macroeconomics and microeconomics.
Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of the entire economy. This includes a national, regional, or global economy.
Measures of national income and output:to estimate total economic activity in a country or region, including gross domestic product (GDP), gross national product (GNP), and net national income (NNI)
---The expenditure approach. It focuses on finding the total output of a nation by finding the total amount of money spent.
[C = household consumption, I = gross private domestic investment, G = government consumption and gross investment, X = gross exports of goods and services, M = gross imports of goods and services]
---The income approach. It equates the total output of a nation to the total factor income received by people of the nation. National income = Compensation of employees + Net interest + Rental & royalty income + Profit of firms + Income from self-employment + NFIA (net factor income from abroad).
The IS/LM model (I nvestment S aving/L iquidity preference M oney supply) is a macroeconomic tool that demonstrates the relationship between interest rates and real output in the goods and services market and the money market.
Microeconomics is a branch of economics that studies the behavior of how the individual modern household and firms make decisions to allocate limited resources.
Demand curve: In economics, the demand curve is the graph depicting the relationship between the price of a certain commodity, and the amount of it that consumers are willing and able to purchase at that given price.
Supply curve: A graph showing the hypothetical supply of a product or service that would be available at different price points.
证券投资学限选课 3.0
Securities and Investment
Securities investment is mainly about how to manage the investment, from
both fundamental and technical analysis of stocks, the meaning of the
fundamentals of analysis of the value of the company stock, financial
position, profitability, growth ability, technical analysis refers to the analysis
of the stock price from a technical point of view, the main application of the
k-line theory. The trend line, the form of law, and the golden section theory.
"Asset management"
Investment management is the professional management of various
securities (shares, bonds etc.) and assets (e.g., real estate), to meet specified
investment goals for the benefit of the investors. Investors may be
institutions (insurance companies, pension funds, corporations etc.) or
证券投资学主要讲的是如何来管理投资，从
基本面和技术两个方面来分析股票，基本面
的含义是分析公司股票的价值，主要从财务
状况，盈利能力，增长能力等方面，技术分
析指的是从技术角度来分析股票价格，主要
应用的是k线理论。包括趋势线，形态法，
以及黄金分割理论等。
“资产管理”
投资管理的专业管理各种证券（股票，债券
等）和资产（如房地产），以满足特定的投
资目标，投资者的利益。投资者可机构（保
险公司，养老基金，企业等）或私人投资者
private investors (both directly via investment contracts and more commonly
via collective investment schemes e.g. mutual funds) .
The securities market refers only to the capital securities will become the
object of trading, the stock market is capitalized securities issuance and
circulation spaces. Usually refers to stock, debt, fund income certificate or
other securities of a capital market transaction object, such as bill
discounting such short-term securities market does not include within the
scope of the securities markets or securities industry. （无论是直接通过投资合同，通常通过集体投资计划例如共同基金。 证券市场 Stock market 证券市场只是指资本化了的证券才会成为买卖的对象，证券市场就是进行资本化有价证券的发行和流通的场所。通常指股票、债权、基金收益凭证等有价证券为交易对象所形成的一种资本市场，而诸如票据贴现这样的短期证券市场则并不包括在证券市场或
证券业范围内。
国际金融主要讲了外汇，外汇包括外国货币，外币形式的有价证券，支付凭证和其他外汇资产。然后学习了汇率的两种标价法，直接标价法和间接标价法。一单位外币=？本币，是直接标价法。 一单位本币=？外币，是间接标价法。中国采用直接标价法。
We studied mainly foreign exchange and balance of payments. Foreign exchange consists of foreign currency, securities and payment instrument in the form of foreign currency and other foreign currency assets. Then we studied two quotations of exchange rate, direct quotation and indirect quotation.
One unit foreign currency equals how much domestic currency, this is direct quotation.
And one unit domestic currency equals how much foreign currency is indirect quotation. In China, we use direct quotation. 还学习了国际收支。
国际收支是指一个国家在一定时期内发生的所有对外经济交易的总和。国际收支平衡表可以清晰的显示出一个国家的国际收支状况。国际收支平衡表有三个内容，经常项目，资本项目，平衡项目（错误和遗漏账户）。
国际收支平衡表上有贷方余额，则说明国际收支发生了顺差，即这个国家在这段时期的对外经济往来收入大于支出。这会使得该国国际储备和对外支付能力增强。但顺差也有缺点。1.一国外汇市场上的外汇供给大于外汇需求，外汇汇率下降，本币汇率上升，不利于出口，加重国内失业。2.顺差使外汇储备增加，外汇侵占本币的市场，从而引发国内通货膨胀。3.如果是出口引起的顺差，说明国内资源大量外流，不利于本国经济的发展。
And we also learned balance of payments.
It means all international economic trade sum of one country during a period. The balance of payments statement can show the balance of payments situation clearly.
There are 3 contents in the statement. Current account, capital and financial account, and balance account.
If there is a credit balance in the statement, it means there is surplus in balance of payments, namely the foreign income is more
than expenditure for this country in this period, which will enhance the ability of international reserve and foreign payment. Surplus also has disadvantages.1.foreign exchange supply is greater than demand, the exchange rate of foreign currency will decrease and domestic currency rate will rise, the price of the goods will go up and it ’s bad for export and increases domestic
unemployment.2.surplus will increase international reserve, but the foreign currency will occupy the market of domestic currency, which will cause inflation.3. If the surplus is caused by export, this means domestic resource flows out greatly, and it ’s bad for domestic economy.
International finance
International finance is the branch of economics that studies the dynamics of exchange rates, international investment, global financial system, and how these affect international trade.
Balance of payments (BOP) accounts are an accounting record of all monetary transactions between a country and the rest of the world. These transactions include payments for the country's exports and imports of goods, services, financial capital, and financial transfers.
The two principal parts of the BOP accounts are the current account and the capital account.
The current account shows the net amount a country is earning if it is in surplus, or spending if it is in deficit. It is the sum of the balance of trade (net earnings on exports minus payments for imports), factor income (earnings on foreign investments minus payments made to foreign investors) and cash transfers.
The capital account records the net change in ownership of foreign assets. It includes the reserve account (the foreign exchange market operations of a nation's central bank), along with loans and investments between the country and the rest of world.
By the principles of double entry accounting, an entry in the current account gives rise to an entry in the capital account, and in aggregate the two accounts automatically balance.
The Exchange Rate汇率
We get foreign currency and foreigners get U.S. dollars in the foreign exchange market—the market in which the currency of one country is exchanged for the currency of another.
The price at which one currency exchanges for another is called a foreign exchange rate.
Currency depreciation贬值is the fall in the value of the currency in terms of another currency.
Currency appreciation 升值is the rise in value of the currency in terms of another currency.
Foreign exchange market
The foreign exchange market is a global, worldwide decentralized financial market for trading currencies. Determinants of exchange rates:
1. Economic factors: These include: (a) economic policy, disseminated by government agencies and central banks, (b) economic conditions, generally revealed through economic reports, and other economic indicators.
2. Political conditions: Internal, regional, and international political conditions and events can have a profound effect on currency markets.
3. Market psychology: Flights to quality, etc.
Changes in the Exchange Rate
Changes in demand and supply in the foreign exchange market change the exchange rate
Relative Purchasing Power Parity: A currency should buy the same amount of goods and services in every country.
According to this theory, the change in the exchange rate is determined by price level changes in both countries.
国际投资学专业课 3.0
International Investment
International Investment is International investors will invest in countries where the rate of return on investment in higher. For example, if the investors lend out funds in these countries they will get higher interest payment. And if one country’s interest rate is high, more funds will flow into this country.
International Investment, including international direct investment and indirect investment. International direct investment is go abroad to build or buy factories and set up branches or mergers and acquisitions. It can make decision in this company and achieve income.
International indirect investment is just to invest in securities of foreign companies, holding stocks in order to achieve income but not to make decision in this company.
Monetary policy
Central banks chosen a country's monetary policy and manages a state's currency, money supply, and interest rates in order to reduce unemployment, make Price stability; Economic growth and Financial market stability
Interest rate interventions
A central bank controls certain types of short-term interest rates. Lowering the interest is to encourage economic growth and is often used to alleviate times of low economic growth. On the other hand, raising the interest rate is often used in times of high economic growth as a contra-cyclical device to keep the economy from overheating and avoid market bubbles.
double-entry bookkeeping system 复式记账法
A double-entry bookkeeping system is a set of rules for recording financial information in a financial accounting system in which every transaction or event changes at least two different nominal ledger accounts. each transaction was entered twice, with one side of the transaction being called a debit and the other a credit.
一个复式簿记系统是一套规则，记录财务信息的财务会计制度中，每个交易或事件的变化至少有两个不同的名义总帐科目。每笔交易被输入两次，用一侧被称为一个借方和其他信用交易。
Accounting Equation 记账的等式Assets = liabilities + equity
资产等于负债加上所有者权益Balance Sheet is like "snapshot of a company's financial condition"
A balance sheet is a summary of the financial balances of a company. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year.
资产负债表像是公司的财务状况的快照
资产负债表是公司的财务结余的总结。被列为特定日期的资产，负债和所有者权益，如在其财政年度结束。
管理学专业课 3.0
Management
Management is a course which we learn what is management and The function of management.
Management is to assign and coordinate all resources that can be transferred, in order to realize the goal that can't be realized by single individual.
The function of management including: planning, organizing, leading, controlling, inspiriting, making decision and innovation.
The planning is to make the goal and make a plan to reach goal .The top managers have responsibility to make total goal and strategy. Middle managers and first-line managers make the plan to supporting the total strategy .The managers must make a plan to control and harmonize the resource which they responsible.
The organizing is to make sure in the plan who finishes and how to manage and harmonize these tasks .The manager must organize the workgroups and members, in order to let the information, the resource and the task can change. The organizing art and the management of human Resources are very important for the function of organize.
Organization: Two or more persons form the unit in order to reach the same goal.
The leading is the lead encourages and guide members in order to contribute for the goal. The manager needs the ability to lead members to achieve the goal.
The controlling is according to the organization‘s plan, supervision and inspection activities and their results, and according to the situation adjust the action or plan, make sure the plan and the actual match, achieve the goal. The Inspiriting is to create a variety of conditions, to meet the needs of employees, let them work effectively and actively, to achieve goals.
Motive Theory,Hierarchy of Needs ：Physical Needs，Safety Needs, love and belonging Needs, Esteem Needs and Self Actualization needs.
The making decision is to recognize and solve the problem. Decision is the essence of management. Other functions of management can not be doing without decision .For example in information achieve, what kind of information to achieve, by what kind of way, where and when to obtain and so on, needs the manager to make decision.
The innovation is Change the current situation. 一、管理：是一个分配和协调所有可被调动的资源以实现个体不能实现的目标的过程。管理的职能：计划，组织，领导，控制，激励，协调。
二、计划：制定目标，确立实现目标的行动。高层管理者负责制定总目标和总战略。中层和基层的管理者制定计划，支持总战略。管理者必须制定计划去控制和协调他们所负责的资源。
三、组织：是明确任务由谁完成，如何处理和谐调这些任务的过程。管理者必须组织工作团体和成员，使得在组织中信息、资源和任务能加以改变。组织的艺术和人力资源的管理对组织职能非常重要。
组织：两个或两个以上的人组成的实现同一目标的单元。
四、领导Leadership
领导鼓励并且引导员工为了为组织的目标作贡献。管理者需要具备领导成员实现组织目标能力。
五、控制Controlling
控制是组织以经营计划的表现来监督连续情况和战略计划。
六、激励：创造各种条件，满足员工需求，激发他们工作的动机，实现组织的宗旨。
马斯洛的需要层次论：生理需要，安全需要，社会需要，尊重的需要，自我实现的需要。
七、决策：识别，解决问题，改进机会的过程。决定是管理的实质。管理的其他作用离不开决定。例如在信息获取过程中，获得的什么样的信息，由什么样的方式，何时何地获得等等，需要管理者做出决策。
八、创新：改变现在的处境。
International Settlement
International settlement is also called financial payments, it is financial activities conducted among different countries in which either payments are effected or funds are transferred form one county to another for the purpose of settling accounts, debits.
bills of exchange is an unconditional order in writing. It is an Unconditional Order to Pay.
出票人（drawer）付款人（payer）收款人（payee）
promissory notes is an unconditional promise in writing.
出票人（Maker /Payer），收款人（Payee）
checks A check is a bill of exchange drawn on a banker payable on demand.
Collection documentary collection 跟单托收：Documents against Payment & Documents against Acceptance 付款交单&承兑交单
Letter of Credit L/C或LOC信用证
A letter of credit is a document issued by a financial institution, assuring payment to a seller of goods and services. It used in trade finance, which usually provides an irrevocable payment undertaking
International trade geography国际贸易地理
是研究各国各地区不同市场的基本条件和特点，他们在国际贸易中所占的地位，以及各个市场上不同的商品结构，供求，交换，运销状况。
讲了世界主要运河，世界主要海峡。
比如，苏伊士运河北起地中海的port said，南接陶菲克taufik，沟通了红海和地中海。把大西洋和印度洋连接起来。这样，从东亚运送的到欧洲的货物，就不需要绕过非洲的好望角，绕很长的路程。过了印度，直接从苏伊士运河到达地中海，然后沿路北上就可。这样不仅仅缩短了航程，节省了时间和运费，更可以减少油耗，进行环保. International trade geography studies the basic trade conditions and characteristics of different countries and regions.
It introduces main straits and main canals in the world.
For example, the Suez Canal starts from Port Said of Mediterranean in the North and ends at Taufik in the South, connecting Red Sea and Mediterranean, Linking the Atlantic Ocean and the Indian Ocean. Thus, the cargo from East Asia to Europe needn’t detour the Cape of Good Hope of South Africa, which is a long distance. After arriving in India, the cargo reaches Mediterranean via Suez Canal directly, and then goes northward along the way. This not only shortens the sailing voyage, save time and cost, but also decreases the oil cost, protecting our environment.
国际贸易理论的发展大致经过了古典，新古典，新贸易理论以及新兴古典贸易理论四大阶段。
The development of International trade theory went through four phases: classical trade theory, neoclassical trade theory, new trade theory and new developing trade theory.
其中,起奠基作用的古典贸易理论是在批判重商主义的基础上发展起来。主要包括亚当.斯密的绝对优势理论和大卫李嘉图的比较优势理论。古典贸易理论从劳动生产率的角度说明了国际贸易产生的原因，结构和利益分配。
The basic and most important one—classical trade theory was developed on criticizing Mercantilism, which includes Adam Smith’s absolute advantage theory and David Ricardo’s comparative advantage theory. Classical trade theory states the cause, structure and benefit distribution of international trade from the view of labor productivity.
重商主义：重商主义认为，财富的唯一形式是金银，金银的多少是衡量一个国家富裕程度的唯一尺度，而获得金银的主要渠道就是国家贸易。通过奖出限入求得顺差，使金银流入，国家就会富裕。
Mercantilism holds the view: the only form of wealth is gold and silver. The quantity of gold and silve r is the only way to measure a country’s wealth. And the main way to get gold and silver is international trade.
绝对优势理论：亚当斯密在生产分工理论的基础上提出了国际贸易的绝对优势理论。
在国富论中，斯密指出国际贸易的基础，在于各国商品之间存在劳动生产率和生产成本的绝对差异，而这种差异来源于自然禀赋和后天的生产条件。亚当斯密认为在国际分工中，每个国家应该专门生产自己具有绝对优势的产品，并用其中一部分交换其具有绝对劣势的产品，这样就会使各国的资源得到最有效率的利用，更好的促进分工和交换，使每个国家都获得最大利益。
Absolute advantage theory: Adam Smith put forward the absolute advantage theory on the basis of division of labor theory. He thought the base of international trade is absolute difference of labor productivity and production cost for goods from various countries. Every country should produce the goods with absolute advantage and do business for exchange the goods with absolute disadvantage, which will make full use of every country’s resources. Thi s will promote division of labor and exchange better and each country can gain the greatest benefits.
比较优势理论：鉴于绝对优势理论的局限性，大卫·李嘉图(David Ricardo)认为国际贸易分工的基础不限于绝对成本差异，即使一国在所有产品的生产中劳动生产率都处于全面优势或全面劣势的地位，只要有利或不利的程度有所不同，该国就可以通过生产劳动生产率差异较小的产品参加国际贸易，从而获得比较利益。比较优势理论遵循“两优取其重，两劣取其轻”的原则，认为国家间技术水平的相对差异产生了比较成本的差异，构成国际贸易的原因，并决定着国际贸易的模式。
Comparative advantage theory: Considering the limitation of absolute advantage theory, David Ricardo put forward this theory. He thought the trade division is not limited to absolute cost differences. Even if the labor productivity of the products in one country is in good or bad position, so long as the degree of advantages and disadvantages are different, this country should do international trade by producing the labor productivity with less difference. This will get more benefits.
国际贸易实务课程完整的讲述了与外国人做贸易的流程。
1.在得知一个可以进行贸易的对象公司后，要进行询盘发盘和接受。
2.然后签订合同。这个过程就涉及到商品的名称，包装和数量的表示，一定要准确。合同中必须明确规定是按照
什么贸易条款和适用哪个法律。这里涉及到各种各样的贸易术语，比如FOB,CIF,CFR，这些术语说明了买房和卖方的责任义务。
3.合同签订后，卖方要备货，报关报检，并确定保险事宜，然后联系承运人。运输方式有很多种，海洋，铁路，
航空，要按照不同的货物标的和具体情况选择，最普遍的是集装箱运输。分为cy-cy, cy-sd。集装箱有20’,40’gp,40’hc,45’gp 和reefer等箱型。
4.等货物运到后，买方付款赎单，拿着海运单可以提货。海运单有正本提单和海运提单两种类型，还可以做电放
提单。收付汇方式有汇付，托收和信用证付款。
等买方把货提走，所有款项都交齐，这笔贸易就进行完成了。
We studied the detailed process of doing business with foreign companies in this course.
1.After learning about a suitable company which can be done business with, we need to do inquiry,
offer and acceptance. This is a negotiation process.
2.Then we sign the contract. During this process, we need to define the name of commodity,
package and quantity accurately. And we must state clearly what trade term and which legislation we use in this business. There are different kinds of trade terms, such as FOB (free on board), CIF (cost insurance and freight), and CFR (cost and freight). These terms explain the responsibilities and duties of shipper and consignee.
3.After signing the contract, the seller needs to prepare for the cargo, do custom clearance and
inspection. Before connecting with carrier, the shipper or consignee needs to confirm insurance.
There are many transport ways. Such as shipping, rail, and air. We choose the ways according to the cargo and particular case. The normal and basic way is container transport. It can realize cy to cy and cy to sd. The normal types of containers are 20 feet’, 40’gp and reefer.
4.After the cargo arrives at the destination, consignee pays and gets bills. Then he takes delivery
with the bills. There are two types of bills. Original bill and seaway bill. The Consignee also can request to do telex release. The payment ways consist of remittance, collection and letter of credit.
After the buyer pays for all the fees and picks up the cargo, this business is finished.