Unit 7 ~ Financial Market & Instruments

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米什金货币金融学英文版习题答案chapter 7英文习题

Economics of Money, Banking, and Financial Markets, 11e, Global Edition (Mishkin) Chapter 7 The Stock Market, the Theory of Rational Expectations, and the Efficient Market Hypothesis7.1 Computing the Price of Common Stock1) A stockholder's ownership of a company's stock gives her the right toA) vote and be the primary claimant of all cash flows.B) vote and be the residual claimant of all cash flows.C) manage and assume responsibility for all liabilities.D) vote and assume responsibility for all liabilities.Answer: BAACSB: Analytical Thinking2) Stockholders are residual claimants, meaning that theyA) have the first priority claim on all of a company's assets.B) are liable for all of a company's debts.C) will never share in a company's profits.D) receive the remaining cash flow after all other claims are paid.Answer: DAACSB: Analytical Thinking3) Periodic payments of net earnings to shareholders are known asA) capital gains.B) dividends.C) profits.D) interest.Answer: BAACSB: Analytical Thinking4) The value of any investment is found by computing theA) present value of all future sales.B) present value of all future liabilities.C) future value of all future expenses.D) present value of all future cash flows.Answer: DAACSB: Analytical Thinking5) In the one-period valuation model, the value of a share of stock today depends uponA) the present value of both the dividends and the expected sales price.B) only the present value of the future dividends.C) the actual value of the dividends and expected sales price received in one year.D) the future value of dividends and the actual sales price.Answer: AAACSB: Analytical Thinking6) In the one-period valuation model, the current stock price increases ifA) the expected sales price increases.B) the expected sales price falls.C) the required return increases.D) dividends are cut.Answer: AAACSB: Reflective Thinking7) In the one-period valuation model, an increase in the required return on investments in equityA) increases the expected sales price of a stock.B) increases the current price of a stock.C) reduces the expected sales price of a stock.D) reduces the current price of a stock.Answer: DAACSB: Reflective Thinking8) In a one-period valuation model, a decrease in the required return on investments in equity causes a(n) ________ in the ________ price of a stock.A) increase; currentB) increase; expected salesC) decrease; currentD) decrease; expected salesAnswer: AAACSB: Reflective Thinking9) Using the one-period valuation model, assuming a year-end dividend of $0.11, an expected sales price of $110, and a required rate of return of 10%, the current price of the stock would beA) $110.11.B) $121.12.C) $100.10.D) $100.11Answer: CAACSB: Analytical Thinking10) Using the one-period valuation model, assuming a year-end dividend of $1.00, an expected sales price of $100, and a required rate of return of 5%, the current price of the stock would beA) $110.00.B) $101.00.C) $100.00.D) $96.19.Answer: DAACSB: Analytical Thinking11) In the generalized dividend model, if the expected sales price is in the distant futureA) it does not affect the current stock price.B) it is more important than dividends in determining the current stock price.C) it is equally important with dividends in determining the current stock price.D) it is less important than dividends but still affects the current stock price.Answer: AAACSB: Analytical Thinking12) In the generalized dividend model, a future sales price far in the future does not affect the current stock price becauseA) the present value cannot be computed.B) the present value is almost zero.C) the sales price does not affect the current price.D) the stock may never be sold.Answer: BAACSB: Analytical Thinking13) In the generalized dividend model, the current stock price is the sum ofA) the actual value of the future dividend stream.B) the present value of the future dividend stream.C) the present value of the future dividend stream plus the actual future sales price.D) the present value of the future sales price.Answer: BAACSB: Analytical Thinking14) Using the Gordon growth model, a stock's current price will increase ifA) the dividend growth rate increases.B) the growth rate of dividends falls.C) the required rate of return on equity rises.D) the expected sales price rises.Answer: AAACSB: Reflective Thinking15) Using the Gordon growth model, a stock's current price decreases whenA) the dividend growth rate increases.B) the required return on equity decreases.C) the expected dividend payment increases.D) the growth rate of dividends decreases.Answer: DAACSB: Reflective Thinking16) In the Gordon growth model, a decrease in the required rate of return on equityA) increases the current stock price.B) increases the future stock price.C) reduces the future stock price.D) reduces the current stock price.Answer: AAACSB: Reflective Thinking17) Using the Gordon growth formula, if D1 is $2.00, k e is 12% or 0.12, and g is 10% or 0.10, then the current stock price isA) $20.B) $50.C) $100.D) $150.Answer: CAACSB: Analytical Thinking18) Using the Gordon growth formula, if D1 is $1.00, k e is 10% or 0.10, and g is 5% or 0.05, then the current stock price isA) $10.B) $20.C) $30.D) $40.Answer: BAACSB: Analytical Thinking19) Using the Gordon growth model, if D1 is $.50, k e is 7%, and g is 5%, then the present value of the stock isA) $2.50.B) $25.C) $50.D) $46.73.Answer: BAACSB: Analytical Thinking20) One of the assumptions of the Gordon Growth Model is that dividends will continue growing at ________ rate.A) an increasingB) a fastC) a constantD) an escalatingAnswer: CAACSB: Analytical Thinking21) In the Gordon Growth Model, the growth rate is assumed to be ________ the required return on equity.A) greater thanB) equal toC) less thanD) proportional toAnswer: CAACSB: Analytical Thinking22) You believe that a corporation's dividends will grow 5% on average into the foreseeable future. If the company's last dividend payment was $5 what should be the current price of the stock assuming a 12% required return?Answer: Use the Gordon Growth Model.$5(1 + .05)/(.12 - .05) = $75AACSB: Analytical Thinking23) What rights does ownership interest give stockholders?Answer: Stockholders have the right to vote on issues brought before the stockholders, be the residual claimant, that is, receive a portion of any net earnings of the corporation, and the right to sell the stock.AACSB: Reflective Thinking7.2 How the Market Sets Stock Prices1) In asset markets, an asset's price isA) set equal to the highest price a seller will accept.B) set equal to the highest price a buyer is willing to pay.C) set equal to the lowest price a seller is willing to accept.D) set by the buyer willing to pay the highest price.Answer: DAACSB: Reflective Thinking2) Information plays an important role in asset pricing because it allows the buyer to more accurately judgeA) liquidity.B) risk.C) capital.D) policy.Answer: BAACSB: Analytical Thinking3) New information that might lead to a decrease in a stock's price might beA) an expected decrease in the level of future dividends.B) a decrease in the required rate of return.C) an expected increase in the dividend growth rate.D) an expected increase in the future sales price.Answer: AAACSB: Reflective Thinking4) A change in perceived risk of a stock changesA) the expected dividend growth rate.B) the expected sales price.C) the required rate of return.D) the current dividend.Answer: CAACSB: Reflective Thinking5) A stock's price will fall if there isA) a decrease in perceived risk.B) an increase in the required rate of return.C) an increase in the future sales price.D) current dividends are high.Answer: BAACSB: Reflective Thinking6) A monetary expansion ________ stock prices due to a decrease in the ________ and an increase in the ________, everything else held constant.A) reduces; future sales price; expected rate of returnB) reduces; current dividend; expected rate of returnC) increases; required rate of return; future sales priceD) increases; required rate of return; dividend growth rateAnswer: DAACSB: Reflective Thinking7) The global financial crisis lead to a decline in stock prices becauseA) of a lowered expected dividend growth rate.B) of a lowered required return on investment in equity.C) higher expected future stock prices.D) higher current dividends.Answer: AAACSB: Reflective Thinking8) Increased uncertainty resulting from the global financial crisis ________ the required return on investment in equity.A) raisedB) loweredC) had no impact onD) decreasedAnswer: AAACSB: Reflective Thinking7.3 The Theory of Rational Expectations1) Economists have focused more attention on the formation of expectations in recent years. This increase in interest can probably best be explained by the recognition thatA) expectations influence the behavior of participants in the economy and thus have a major impact on economic activity.B) expectations influence only a few individuals, have little impact on the overall economy, but can have important effects on a few markets.C) expectations influence many individuals, have little impact on the overall economy, but can have distributional effects.D) models that ignore expectations have little predictive power, even in the short run. Answer: AAACSB: Reflective Thinking2) The view that expectations change relatively slowly over time in response to new information is known in economics asA) rational expectations.B) irrational expectations.C) slow-response expectations.D) adaptive expectations.Answer: DAACSB: Analytical Thinking3) If expectations of the future inflation rate are formed solely on the basis of a weighted average of past inflation rates, then economists would say that expectation formation isA) irrational.B) rational.C) adaptive.D) reasonable.Answer: CAACSB: Analytical Thinking4) If expectations are formed adaptively, then peopleA) use more information than just past data on a single variable to form their expectations of that variable.B) often change their expectations quickly when faced with new information.C) use only the information from past data on a single variable to form their expectations of that variable.D) never change their expectations once they have been made.Answer: CAACSB: Reflective Thinking5) If during the past decade the average rate of monetary growth has been 5% and the average inflation rate has been 5%, everything else held constant, when the Federal Reserve announces that the new rate of monetary growth will be 10%, the adaptive expectation forecast of the inflation rate isA) 5%.B) between 5 and 10%.C) 10%.D) more than 10%.Answer: AAACSB: Reflective Thinking6) The major criticism of the view that expectations are formed adaptively is thatA) this view ignores that people use more information than just past data to form their expectations.B) it is easier to model adaptive expectations than it is to model rational expectations.C) adaptive expectations models have no predictive power.D) people are irrational and therefore never learn from past mistakes.Answer: AAACSB: Reflective Thinking7) In rational expectations theory, the term "optimal forecast" is essentially synonymous withA) correct forecast.B) the correct guess.C) the actual outcome.D) the best guess.Answer: DAACSB: Analytical Thinking8) If a forecast is made using all available information, then economists say that the expectation formation isA) rational.B) irrational.C) adaptive.D) reasonable.Answer: AAACSB: Analytical Thinking9) If a forecast made using all available information is NOT perfectly accurate, then it isA) still a rational expectation.B) not a rational expectation.C) an adaptive expectation.D) a second-best expectation.Answer: AAACSB: Analytical Thinking10) If expectations are formed rationally, then individualsA) will have a forecast that is 100% accurate all of the time.B) change their forecast when faced with new information.C) use only the information from past data on a single variable to form their forecast.D) have forecast errors that are persistently low.Answer: BAACSB: Analytical Thinking11) If additional information is not used when forming an optimal forecast because it is not available at that time, then expectations areA) obviously formed irrationally.B) still considered to be formed rationally.C) formed adaptively.D) formed equivalently.Answer: BAACSB: Analytical Thinking12) An expectation may fail to be rational ifA) relevant information was not available at the time the forecast is made.B) relevant information is available but ignored at the time the forecast is made.C) information changes after the forecast is made.D) information was available to insiders only.Answer: BAACSB: Analytical Thinking13) According to rational expectations theory, forecast errors of expectationsA) are more likely to be negative than positive.B) are more likely to be positive than negative.C) tend to be persistently high or low.D) are unpredictable.Answer: DAACSB: Analytical Thinking。

金融学专业词汇(中英文对照)

金融学专业词汇（中英文对照）目录1. 货币与货币制度 (3)2. 国际货币体系与汇率制度 (4)3. 信用、利息与信用形成 (5)4. 金融范畴的形成与发展 (7)5. 金融中介体系 (7)6. 存款货币银行 (9)7. 中央银行 (10)8. 金融市场 (10)9. 资本市场 (13)10. 金融体系结构 (14)11. 金融基础设施 (14)12. 利率的决定作用 (15)13. 货币需求 (16)14. 现代货币的创造机制 (17)15. 货币供给 (17)16. 货币均衡 (18)17. 开放经济的均衡 (18)18. 通货膨胀和通货紧缩 (19)19. 货币政策 (20)20. 货币政策与财政政策的配合 (21)21. 开放条件下的政策搭配与协调 (22)22. 利率的风险结构与期限结构 (22)23. 资产组合与资产定价 (23)24. 商业银行业务与管理 (25)25. 货币经济与实际经济 (26)26. 金融发展与经济增长 (26)27. 金融脆弱性与金融危机 (27)28. 金融监管 (27)1.货币与货币制度货币:(currency)外汇:(foreign exchange)铸币:(coin)银行券:(banknote)纸币:(paper currency)存款货币:(deposit money)价值尺度:(measure of values)货币单位:(currency unit)货币购买力:(purchasing power of money)购买力平价:(purchasing power parity,PPP)流通手段:(means of circulation)购买手段:(means of purchasing)交易的媒介:(media of exchange)支付手段:(means of payment)货币需求:(demand for money)货币流通速度:(velocity of money)保存价值:(store of value)汇率:(exchange rate)一般等价物:(universal equivalent)流动性:(liquidity)通货:(currency)准货币:(quasi money)货币制度:(monetary system)本位制:(standard)金本位:(gold standard)造币:(coinage)铸币税:(seigniorage)本位币:(standard money)辅币:(fractional money)货币法偿能力:(legal tender powers)复本位制:(bimetallic standard)金汇兑本位:(gold exchange standard)金平价:(gold parity)金块本位制:(gold bullion standard)2.国际货币体系与汇率制度浮动汇率制:(floating exchange rate regime)货币局制度:(currency board arrangement)联系汇率制度:(linked exchange rate system)美元化:(dollarization)最优通货区理论:(theory of optimum currency area)货币消亡:(money disappearance)外汇:(foreign currency)外汇管理:(exchange regulation)外汇管制:(exchange control)可兑换:(convertibility)不可兑换:(inconvertibility)经常项目:(current account)资本项目:(capital account)汇率:(exchange rate)牌价:(posted price)直接标价法:(direct quotation)间接标价法:(indirect quotation)单一汇率:(unitary exchange rate)多重汇率:(multiple exchange rate)市场汇率:(market exchange rate)官方汇率:(official exchange rate)黑市:(black market)固定汇率:(fixed exchange rate)浮动汇率:(floating exchange rate)管理浮动:(managed float)盯住汇率制度:(pegged exchange rate regime)固定钉住:(fixed peg)在水平带内的盯住:(pegged within horizontal bands)爬行钉住:(crawling peg)外汇指定银行:(designated foreign exchange bank)货币的对外价值:(external value of exchange)货币的对内价值:(internal value of exchange)名义汇率:(nominal exchange rate)实际汇率:(real exchange rate)铸币平价:(mint parity)金平价:(gold parity)黄金输送点:(gold transport point)国际借贷说:(theory of international indebtedness)流动债权:(current claim)流动负债:(current liablity)国际收支说:(theory of balance payment)汇兑心理说:(psychology theory of exchange rate)货币分析说:(monetary approach)金融资产说:(portfolio theory of exchange rate determination)利率平价理论:(theory of interest rate parity)外汇风险:(exchange risk)中国的外汇调剂:(foreign exchange swap)3.信用、利息与信用形成信用:(credit)利息:(interest)收益:(yield)资本化:(capitalization of interest)高利贷:(usury)利率:(interest rate)债权:(claim)债务:(debt obligation)借入:(borrowing)贷出:(lending)盈余:(surplus)赤字:(deficit)跨时预算约束:(intertemporal budget constraint)资金流量:(flow of funds)部门:(sector)借贷资本:(loan capital)实体:(real)商业信用:(commercial credit)银行信用:(bank credit)本票:(promissory note)汇票:(bill of exchange)商业本票:(commercial paper)商业汇票:(commercial bill)承兑:(acceptance)背书:(endorsement)直接融资:(direct finance)间接融资:(indirect finance)短期国库卷:(treasury bill)中期国库卷:(treasury note)长期国库卷:(treasury bond)国债:(national debt)公债:(public debt)资本输出:(export of capital)国际资本流动:(international capital flow)国外商业性借贷:(foreign direct investment,FDI)国际游资:(hot money)4.金融范畴的形成与发展财政:(public finance)公司理财:(corporate finance)投资:(investment)保险:(insurance)财产保险:(property insurance)人身保险:(mutual life insurance)相互人寿保险:(mutual life insurance)信托:(trust)租赁:(leasing)5.金融中介体系金融中介:(financial intermediary)金融机构:(financial institution)借者:(borrower)贷者:(lender)货币中介:(monetary intermediation)权益资本:(equity capital)中央银行:(central bank)货币当局:(monetary authority)存款货币银行:(deposit money bank)商业银行:(commercial bank)投资银行:(investment bank)商人银行:(merchant bank)财务公司:(financial companies)储蓄银行:(saving bank)抵押银行:(mortgage bank)信用合作社:(credit cooperative)保险业:(insurance industry)跨国银行:(multinational bank)代表处:(representative office)经理处:(agency)分行:(branch)子银行:(subsidiary)联营银行:(affiliate)国际财团银行:(consortium bank)中国人民银行:(People’s Bank of China)政策性银行:(policy banks)国有商业银行:(state-owned commercial banks)资产管理公司:(assets management company)证券公司:(securities company)券商:(securities dealer)农村信用合作社:(rural credit cooperatives)城市信用合作社:(urban credit cooperatives)信托投资公司:(trust and investment companies)信托:(trust)金融租赁:(financial leasing)邮政储蓄:(postal savings)财产保险:(property insurance)商业保险:(commercial insurance)社会保险:(social insurance)保险深度:(insurance intensity)保险密度:(insurance density)投资基金:(investment funds)证券投资基金:(security funds)封闭式基金:(closed-end investment funds)开放式基金:(open-end investment funds)私募基金:(private placement)风险投资基金:(venture funds)特别提款权:(special drawing right,SDR)国有化:(nationalization)6.存款货币银行货币兑换商:(money dealer)银行业:(banking)贴现率:(discount rate)职能分工型商业银行:(functional division commercial bank)全能型商业银行:(multi-function commercial bank)综合性商业银行:(comprehensive commercial bank)单元银行制度:(unit banking system)总分行制度:(branch banking system)代理行制度:(correspondent banking system)银行控股公司制度:(share holding banking system)连锁银行制度:(chains banking system)金融创新:(financial innovation)自动转账制度:(automatic transfer services,ATS)可转让支付命令账户:(negotiable order of withdrawal account,NOW)货币市场互助基金:(money market mutual fund,MMMF)货币市场存款账户:(money market deposit account,MMDA)不良债权:(bad claim)坏账:(bad loan)不良贷款:(non-performing loans,NPL)存款保险制度:(deposit insurance system)金融资本:(financial capital)7.中央银行中央银行:(central bank)一元式中央银行制度:(unit central bank system)二元式中央银行制度:(dual central bank system)复合中央银行制度:(compound central bank system)跨国中央银行制度:(multinational central bank system)发行的银行:(bank of issue)银行的银行:(bank of bank)最后贷款人:(lender of last resort)再贴现:(rediscount)在抵押:(recollateralize)国家的银行:(the state bank)8.金融市场金融市场:(financial market)证券化:(securitization)金融资产:(financial assets)金融工具:(financial instruments)金融产品:(financial products)衍生金融产品:(derivative financial products)原生金融产品:(underlying financial products)流动性:(liquidity)变现:(encashment)买卖差价:(bid-ask spread)做市商:(market marker)到期日:(due date)信用风险:(credit risk)市场风险:(market risk)名义收益率:(nominal yield)现时收益率:(current yield)平均收益率:(average yield)内在价值:(intrinsic value)直接融资:(direct finance)间接融资:(indirect finance)货币市场:(money market)资本市场:(capital market)现货市场:(spot market)期货市场:(futures market)机构投资人:(institutional investor)资信度:(credit standing)融通票据:(financial paper)银行承兑票据:(bank acceptance)贴现:(discount)大额存单:(certificates of desposit,CDs)回购:(counterpurchase)回购协议:(repurchase agreement)隔夜:(overnight)银行同业间拆借市场:(interbank market)合约:(contract)远期:(forward)期货:(futures)期权:(options)看涨期权:(call option)看跌期权:(put option)期权费:(option premium)互换:(swap)投资基金:(investment funds)契约型基金:(contractual type investment fund)单位型基金:(unit funds)基金型基金:(funding funds)公司型基金:(corporate type investment fund)投资管理公司:(investment management company)共同基金:(mutual fund)对冲基金:(hedge fund)风投基金:(venture fund)权益投资:(equity investment)收益基金:(income funds)增长基金:(growth funds)长期增长基金:(long-term growth funds)高增长基金:(go-go groeth funds)货币市场基金:(money market funds)养老基金:(pension fund)外汇市场:(foreign exchange market)风险资本:(venture capital)权益资本:(equity capital)私人权益资本市场:(private equity market)有限合伙制:(limited partnership)交易发起:(deal origination)筛选投资机会:(screening)评价:(evaluation)交易设计:(deal structure)投资后管理:(post-investment activities)创业板市场:(growth enterprise market,GEM)二板市场:(secondary board market)金融创新:(financial innovation)金融自由化:(financial liberalization)全球化:(globalization)离岸金融市场:(off-shore financial center)9.资本市场权益:(equity)剩余索取权:(residual claims)证券交易所:(stock exchange)交割:(delivery)过户:(transfer ownership)场外交易市场:(over the counter,OTC)金融债券:(financial bond)抵押债券:(mortgage bond)担保信托债券:(collateral trust bonds)信用债券:(trust bonds)次等信用债券:(subordinated debenture)担保债券:(guaranteed bonds)初级市场:(primary market)二级市场:(secondary market)公募:(public offering)私募:(private offering)有价证券:(security)面值:(face value)市值:(market value)股票价格指数:(share price index)有效市场假说:(effective market hypothesis)弱有效市场:(weak efficient market)中度有效市场:(semi-efficient market)强有效市场:(strong efficient market)股份公司:(stock certificate)股票:(stock certificate)股东:(stock holder)所有权:(ownership)经营权:(right of management)10.金融体系结构功能主义金融观:(perspective of financial function)金融体系格局:(pattern of financial system)激励:(incentive)公司治理:(corporate governance)路径依赖:(path dependency)市场主导型:(market-oriented type)银行主导型:(banking-oriented type)参与成本:(participative cost)影子银行体系:(the shadow banking system)11.金融基础设施金融基础设施:(financial infrastructures)支付清算系统:(payment and clearing system)跨境支付系统:(cross-border inter-bank payment system,CIPS)全额实时结算:(real time gross system)净额批量清算:(bulk transfer net system)大额资金转账系统:(whole sale funds transfer system)小额定时结算系统:(fixed time retail system)票据交换所:(clearing house)金融市场基础设施:(financial market infrastructures)中央交易对手:(central counterparties,CCPs)双边清算体系:(bilateral clearing system)系统重要性支付体系核心原则:(the core principles for systemically important payment system)证券清算体系建议:(the recommendations for central counterparties)中央交易对手建议:(the recommendations for central counterparties)金融业标准:(financial standards)盯市:(mark-to-market)公允价值:(fair value)金融部门评估规划:(financial sector assessment program)12.利率的决定作用可贷资金论:(loanable funds theory of interest)储蓄的利率弹性:(interest elasticity of saving)投资的利率弹性:(interest elasticity of investment)本金:(principal)回报率:(returns)基准利率:(benchmark interest rate)无风险利率:(risk-free interest rate)补偿:(compensation)风险溢价:(risk premium)实际利率:(real interest rate)名义利率:(nominal interest rate)固定利率:(fixed interest rate)浮动利率:(floating rate)官定利率:(official interest rate)行业利率:(trade-regulated rate)一般利率:(general interest rate)优惠利率:(preferential interest rate)贴息贷款:(loan of interest subsidy)年利率:(annual interest rate)月利率:(monthly interest rate)日利率:(daily interest rate)拆息:(call money interest)13.货币需求货币需求:(demand for money)货币数量论:(quantity theory of money)货币必要量:(volume of money needed)货币流通速度:(velocity of money)交易方程式:(equation of exchange)剑桥方程式:(equation of Cambridge)现金交易说:(cash transaction approach)现金余额说:(cash balance theory)货币需求动机:(motive of the demand for money)交易动机:(transaction motive)预防动机:(precautionary motive)投机动机:(speculative motive)流动性偏好:(liquidity preference)流动性陷阱:(liquidity trap)平方根法则:(square-root rule)货币主义:(monetarism)恒久性收入:(permanent income)机会成本变量:(opportunity cost variable)名义货币需求:(nominal demand for money)实际货币需求:(real demand for money)客户保证金:(customer’s security marign)金融资产选择:(portfolio selection)14.现代货币的创造机制纯流通费用:(pure circulation cost)原始存款:(primary deposit)派生存款:(derivative deposit)派生乘数:(withdrawal multiplier)现金损露:(loss of cashes)提现率:(withdrawal rate)创造乘数:(creation multiplier)现金:(currency)基础货币:(base money)高能货币:(high-power money)货币乘数:(money multiplier)铸币收入:(seigniorage revenue)15.货币供给货币供给:(money supply)准货币:(quasi money)名义货币供给:(nominal money supply)实际货币供给:(real money supply)股民保证金:(shareholder’s security margin)货币存量:(money stock)公开市场操作:(open-market operation)贴现政策:(discount policy)再贴现率:(rediscount rate)法定准备金率:(legal reserve ratio)财富效应:(wealth effect)预期报酬率变动效应:(effect of expected yields change)现金持有量:(currency holdings)超额准备金:(excess reserves)外生变量:(exogenous variable)内生变量:(endogenous variable)16.货币均衡均衡:(equilibrium)投资饥渴:(huger for investment)软预算约束:(soft budget constraint)总需求:(aggregate demand)总供给:(aggregate supply)面纱论:(money veil theory)流:(flow)余额:(stock)17.开放经济的均衡国际收支:(balance of payments)居民:(resident)非居民:(nonresident)国际收支平衡表:(statement for balance of payments)经常项目:(current account)资本和金融项目:(capital and financial account)储备资产:(reserve assets)净误差与遗漏:(net errors and missions)自主性交易:(autonomous transaction)调节性交易:(accommodating transaction)偿债率:(debt service ratio)顺差:(surplus)逆差:(deficit)最后清偿率:(last liquidation ratio)资本流动:(capital movements)项目融资:(project finance)外债:(external debt)资本外逃:(capital flight)冲销性操作:(sterilized operation)非冲销性操作:(unsterilized operation)债务率:(debt ratio)负债率:(liability ratio)差额:(balance)18.通货膨胀和通货紧缩通货膨胀:(inflation)恶性通货膨胀:(rampant inflation)爬行通货膨胀:(creeping inflation)温和通货膨胀:(moderate inflation)公开性通货膨胀:(open inflation)显性通货膨胀:(evident inflation)隐蔽性通货膨胀:(hidden inflation)输入型通货膨胀:(import of inflation)结构性通货膨胀:(structural inflation)通货膨胀率:(inflation rate)居民消费物价指数:(CPI)零售物价指数:(RPI)批发物价指数:(WPI)冲减指数:(deflator)需求拉上型通货膨胀:(demand-pull inflation)成本推动型通货膨胀:(cost-push inflation)工资-价格螺旋上升:(wage-price spiral)强制储蓄:(forced saving)收入分配效应:(distributional effect of income)财富分配效应:(distributional effect of wealth)滞胀:(stagflation)工资膨胀率:(wage inflation)紧缩性货币政策:(tight monetary policy)紧缩银根:(tight money)紧缩信贷:(tight squeeze)指数化:(indexation)通货紧缩:(deflation)19.货币政策货币政策:(monetary policy)金融政策:(financial policy)货币政策目标:(goal of monetary policy)通货膨胀目标制:(inflation targeting)逆风向原则:(principle of leaning against the wind)反周期货币政策:(counter cycle monetary policy)相机抉择:(discretionary)单一规则:(single rule)告示效应:(bulletin effects)直接信用控制:(direct credit)信用配额:(credit allocation)流动性比率:(liquidity ratio)间接信用控制:(indirect credit control)道义劝告:(moral suasion)窗口指导:(window guidence)信用贷款:(lending)传导机制:(conduction mechanism)中介指标:(intermediate target)信贷配给:(credit rationing)资产负债表渠道:(balance sheet channel)时滞:(time lag)预期:(expectation)透明度:(transparency)信任:(credibility)软着陆:(soft landing)20.货币政策与财政政策的配合赤字:(deficit)经常性收入:(current revenue)税:(tax)费:(fee)经常性支出:(current expenditure)资本性收入:(capital revenue)补助:(grant)资本性支出:(capital expenditure)账面赤字:(book deficit)隐蔽赤字:(hidden deficit)预算外:(off-budget)透支:(overdraft)净举债:(net fiancing)未清偿债券:(outstanding debt)或有债务:(contingent liability)准备货币:(reserve money)国债依存度:(public debt dependency)国债负担率:(public debt-to-GDP ratio)国债偿债率:(government debt-service ratio)财政政策:(fiscal policy)补偿性财政货币政策:(compensatory fiscal and monetary policy) 21.开放条件下的政策搭配与协调米德冲突:(Meade’s conflict)国际政策协调:(international policy coordination)信息交换:(information exchange)危机管理:(crisis management)避免共享目标变量的冲突:(avoiding conflicts over shared targets)合作确定中介目标:(cooperation intermediate targeting)部分协调:(full coordination)汇率目标区:(target zone of exchange rate)马歇尔-勒纳条件:(Marshall-Lerner condition)J曲线效应:(J curve effect)22.利率的风险结构与期限结构单利:(simple interest)复利:(compound interest)现值:(present value)终值:(future value)竞价拍卖:(open-outcry auction)贴现值:(present discount value)利率管制:(interest rate control)利率管理体制:(interest rate regulation system)存贷利差:(interest rate regulation system)利率风险结构:(risk structure of interest rates)违约风险:(default risk)利率期限结构:(term structure of interest rates)即期利率:(spot rate of interest)远期利率:(forward rate of interest)到期收益率:(yield to maturity)现金流:(cash floe)预期理论:(expectation theory)流动性理论:(liquidity theory)偏好理论:(preferred habitat theory)市场隔断理论:(market segmentation theory) 23.资产组合与资产定价市场风险:(market risk)信用风险:(credit risk)流动性风险:(liquidity risk)操作风险:(operational risk)法律风险:(legal risk)政策风险:(policy risk)道德风险:(moral hazard)主权风险:(sovereign risk)市场流动性风险:(product liquidity)现金流风险:(cash flow)执行风险:(execution risk)欺诈风险:(fraud risk)遵守与监管风险:(compliance and regulatory risk)资产组合理论:(portfolio theory)系统性风险:(systematic risk)非系统性风险:(nonsystematic risk)效益边界:(efficient frontier)价值评估:(evaluation)市盈率:(price-earning ratio)资产定价模型:(asset pricing model)资本资产定价模型:(capital asset pricing model,CAPM)无风险资产:(risk-free assets)市场组合:(market portfolio)多要素模型:(multifactorCAPM)套利定价理论:(arbitrage pricing theory,APT)期权加价:(option premium)内在价值:(intrinsic value)时间价值:(time value)执行价格:(strike price)看涨期权:(call option)看跌期权:(put option)对冲型的资产组合:(hedge portfolios)套利:(arbitrage)无套利均衡:(no-arbitrage equilibrium)均衡价格:(equilibrium price)多头:(long position)空头:(short position)动态复制:(dynamic replication)头寸:(position)风险偏好:(risk preference)风险中性:(risk neutral)风险厌恶:(risk averse)风险中性定价:(risk-netural pricing)24.商业银行业务与管理银行负责业务:(liability business)存款:(deposit)活期存款:(demand deposit)支票存款:(check deposit)透支:(overdraft)定期存款:(time deposit)再贴现:(rediscount)金融债券:(financial bond)抵押贷款:(mortgage loan)信用贷款:(credit loan)通知贷款:(demand loan)真实票据论:(real bill doctrine)商业贷款理论:(commercial loan theory)证券投资:(portfolio investment)中间业务:(middleman business)表外业务:(off-balance sheet business)无风险业务:(risk-free business)汇款:(remittance)信用证:(letter of credit)商品信用证:(commercial letter of credit)代收业务:(business of collection)代客买卖业务:(business of commission)承兑网络银行:(internet bank)虚拟银行:(virtual bank)企业对个人:(B2C)企业对企业:(B2B)挤兑:(bank runs)资产管理:(assets management)自偿性:(self-liquidation)可转换性理论:(convertibility theory)预期收入理论:(anticipated income theory)负债管理:(liability management)资产负债综合管理:(comprehensive management of assets and liability)风险管理:(risk management)在险价值:(value at risk,VAR)25.货币经济与实际经济两分法:(dichotomy)实际经济:(real economy)货币经济:(monetary economy)虚拟资本:(monetary capital)泡沫经济:(bubble economy)虚拟经济:(virtual economy)货币中性:(neutrality of money)相对价格:(relative price)货币面纱:(monetary veil)瓦尔拉斯均衡:(Walras equilibrium)一般均衡理论:(theory of general equilibrium)超中性:(super-neutrality)26.金融发展与经济增长金融发展:(financial development)金融自由化:(financial liberalization)金融深化:(financial deepening)金融压抑:(financial repression)金融机构化:(financial institutionalization)分层比率:(gradation ratio)金融相关率:(financial interrelation ratio,FIR)货币化率:(monetarization ratio)脱媒:(distintermediation)导管效应:(tube effect)27.金融脆弱性与金融危机金融脆弱性:(financial fragility)金融风险:(financial risk)长周期:(long cycles)安全边界:(margins of safety)汇率超调理论:(theory of exchange rate over shooting)金融危机:(financial crises)资产管理公司:(asset management corporation,AMC)金融恐慌:(financial panic)优先/次级抵押贷款债券:(senior/subordinate structure) 28.金融监管金融监管:(financial regulation)公共选择:(public choice)最低资本要求:(minimum capital requirements)监管当局的监管:(supervisory review process)市场纪律:(market discipline)宏观审慎框架:(macro-prudential framework)分行:(branch)子行:(subsidiary)并表监管:(consolidated supervision)。

Introduction of financial markets

FINANCIAL MARKETS
Introduction
Week 1
Andy Adams
INTRODUCTION
• Real assets v financial assets • Main types of financial assets • The roles of financial markets • Types of investments • Types of investors
• The derivatives market also enables investors to control exposure to a given market (risk management)
Separation of ownership and management
• Financial markets enable firms with many shareholders to be formed • Shareholders elect a board of directors that in turn hires and supervises the management of the firm • This structure means that the owners and managers of the firm are different parties, which gives the firm stability that the ownermanaged firm cannot achieve • But potential conflicts of interest („agency problems‟) can arise because managers may pursue their own interests

新编金融英语教程 Chapter7 Primary Markets versus Secondary Markets

1.Both the primary markets and the secondary markets are important parts of the capital markets. ( ) 2.Generally speaking, privately placed securities are highly liquid by nature. ( ) 3.The New York Stock Exchange and the NASDAQ system are famous secondary markets in the United States and the world. ( ) 4.The derivative securities markets had existed for a long time, but didn’t grow robustly until the 1980s. ( ) 5.On the secondary market, small investors can have a better chance of buying or selling securities on the primary market. ( )
7.1Lead-in
This chapter will first of all look at the primary market. Secondly, it will look at the secondary market. Finally, it will make a comparison between the two.
7.4 Follow-up Tasks
I. Matching
Directions: Match the English words and phrases in the left column with the proper Chinese equivalents in the right column.

(推荐)FinancialEnglish(金融市场)1

Short-term business loan market
T-bills market
RPs market
Overview of C.M.
S.4.Capital market
Types of C.M.
Market for Long and
Business loans
Mortgages
medium-t erm bank loans Consumer loans
7
S.2.Functions of Financial Markets
Direct finance: It refers to the way in which fund suppliers supply funds to fund demanders by directly purchasing certificates of credit or equity from fund demanders with financial institutions providing services smoothing flow of funds. It’s called market-oriented finance.
Securities Funds
Surplus units:
1,Households
Deficit units:
1,Businesses
2,Businesses 3,Governments
Funds
Funds Financial markets
2,Governments 3,Households
4,Foreign entities Securities
Credit finance

《财政金融英语综合教程》Unit 7

到目前为止；迄今为止需要做目标市场以……为目标；计划想出
14
Useful sentences
1. I’ve come again to renew our sole agency agreement for another 2 years. 这次我来是想把我们之间的独家代理协议延长两年。
2. We shall be pleased to talk the matter over with you. 我们很高兴和你们详细讨论这件事情。
plilfaeciensaulraarngceeorder
大量订货
13
Useful words and phrases
sinosfuarrance [ɪn‘ʃʊər(ə)ns] inneseudretod [ɪn'ʃʊəd] target market apiomlicayt [‘pɒləsɪ] cpormopeeurtpywith [‘prɒpətɪ]
n. 产品 vt.& vi. 考虑 n. 提供 vi. 出现，显现 n. 质量，品质
9
Useful words and phrases
sinuspuprlaienrce [ɪn[‘sʃəʊ'əprl(aəɪ)ən(sr])] idnisucoruednt [ɪn'ʃʊ[ə'ddɪ]skaʊnt] maximum ['mæksɪməm] proelipcayration[‘pɒlə[ˌspɪ]repə'reɪʃn] cparmoppearitgyn [‘p[rkɒæpmət'ɪp] eɪn] proemceieudm [‘pr[prə'siːd]
adv. 确切地；一定地 n. 预算；预算费 vt. 决定；解决 n. 基础；根据 n. 简报，简要情况

金融专业英语名词

Financial MarketsFinancial market金融市场: A financial market is a market in which people and entities can trade financial securities, commodities and other fungible items of value at low transaction costs and at prices that reflects supply and demand.International financial market国际金融市场: A financial market that involves participants all over the world.(查不到自己编的，请慎重考虑)Direct financing直接融资: An investor purchases the securities issued by ultimate borrowers (i.e. without intermediaries).Indirect financing间接融资: Indirect financing is where borrowers borrow funds from the financial market through indirect means, such as through a financial intermediary.Money market货币市场: Money market is a component of financial market for assets involved in short-term borrowing, lending, buying and selling with ORIGINAL maturities of one year or less. Capital market资本市场: Capital market provides for the buying and selling of long-term(over 1 year) debts or equity-backed securities.Foreign exchange market (or currency market)外汇市场: Foreign exchange market deals with the exchanges of different means of payment.Primary market一级市场: A primary market is a market in which new issues of a security (like a bond or a stock), are sold to initial buyers by the corporation or government agency borrowing the funds.Secondary market二级市场: A secondary market is where is where the sale of previously issued securities takes place.Exchange market交易所市场: It is a highly organized market where tradable securities, commodities, foreign exchanges, futures and option contracts are sold and bought.OTC market柜台市场: over-the-counter market. A decentralized market of securities not listed on an exchange where market participants trade over the telephone, facsimile or electronic network instead of a physical trading floor.Technical analysis技术分析: It is the art of deducing probable future trend from historical records of stock trading. (the study of the stock market itself rather than external factors) Fundamental analysis基本面分析或基础分析: It examines all relevant factors affecting the stock price in order to determine an intrinsic value for that stock.The top-down approach or Economy-Industry-Company(EIC) model自上而下法:1)select a country which could offer the investors better returns from other economies;2)select promising industries and companies in this country.The bottom-up or stock picking approach自下而上法: It is to find undervalued stocks regardless of the market and industry factors.Capital MarketBond债券: Bonds are securities that represent a debt owed by the issuer to the investor. They obligate the issuer to pay a specified amount at a given date.Government notes and bonds(Treasury bonds)国库券: They are issued to finance the national debt. Difference: notes have a original maturity of 1year to 10 years while bonds have a original maturity of 10-30 years. Note that they are free of default risk.Corporate bonds公司债券: Large corporations issue bonds in order to borrow funds for long periods of time. The bond indenture is a contract that states the lender’s rights and privileges andthe the borrower’s obligations.Stock股票: Shares of stock in the firm represent ownership.Outstanding stock流通股: The shares of a corporation’s stock that have been issued and are in the hands of the public.Mortgage loan抵押贷款: A mortgage loan is a loan secured by real property.Foreign Exchange MarketExchange rate汇率: The ratio of two different currencies.Bills of exchange票据: They are financial documents that require the individual or business that is addressed in the document to pay a specified amount of money on a date that is cited in the document.Demand draft即期汇票: It is a check created by a merchant with a buyer’s checking account number on it, but without the buyer’s original signature.Bankers draft银行汇票: It is a check where the funds are taken directly from financial institutions rather than the individual drawer’s account.Foreign bond外国债务: A bond issued in a domestic market by a foreign entity, in the domestic market’s currency.Dividend check股利支票: A share of profits in the form of checks received by a stockholder. （查不到自己编的，请慎重考虑）Pension check养老金支票: A sum of money in the form of checks paid regularly as a retirement benefit or by way of patronage.(查不到自己编的，请慎重考虑。

宏观经济学之金融市场 Financial Market(精品PPT课件共19页)

3
The Demand for Money
i
M M'
Md1(for $Y'>$Y) Md(for nominal income $Y)
4-2:The Determination of the Interest Rate:Ⅰ
Money Demand, Money Supply, and the Equilibrium Interest Rate Monetary Policy and Open Market Operations
H = CUd + Rd
(4.9)
Replace CUd and Rd by their expressions from equations (4.50 and (4.8) to get
H = c Md + θ(1-c) Md = [c+ θ(1-c) ] Md
Replace the overall demand for money, Md, by its expressions from equation (4.4) to get:
10
ቤተ መጻሕፍቲ ባይዱ 4-3: The Determination of the Interest Rate:Ⅱ
What Banks Do The supply and Demand for central Bank Money
The Demand for Money The Demand for Reserves
Demand For money
Demand for Checkable Deposits
Demand for currency
Demand for Reserves (by banks)

FinancialMarketsandInstitutions第七版课程设计

Financial Markets and Institutions 第七版课程设计一、课程目标本课程旨在介绍金融市场和机构的基本理论和实践，包括国内外金融市场及其特征、金融机构的分类和功能、金融市场的现代化与创新、金融市场风险管理等。

学生将通过本课程学习：•了解国内外金融市场及其特征；•理解金融机构的分类和功能；•掌握金融市场的现代化与创新；•学习金融市场风险管理的基本理论和实践。

二、课程内容1.金融市场和机构概述–金融市场的定义、分类与特征；–金融机构的分类与功能；–现代金融市场的发展趋势。

2.资本市场–股票市场：股票交易、股票价格形成机制、股票市场上的套利和风险；–债券市场：债券价格形成机制、债券市场上的套利和风险；–衍生品市场：期货、期权、互换合同等产品及其特点。

3.货币市场–货币市场的定义、分类与特征；–短期借贷市场：央行票据、银行间市场、商业票据市场等；–现金市场：银行存款、货币基金等；–货币市场上的套利和风险。

4.银行市场–银行的定义、分类与功能；–银行的资产负债管理；–银行在金融市场中的作用。

5.金融市场的现代化与创新–金融市场的电子化、创新性金融产品等；–金融领域的科技创新；–金融市场的全球化趋势。

6.金融市场风险管理–类别、来源、度量、化解金融市场风险的方法与工具；–金融市场风险管理的组织与实践。

三、教学方法本课程采用以学生为主体的教学方法，包括：•理论讲授：通过PPT和课件进行讲解•实践操作：学生通过实践操作，加深对理论知识的理解和掌握•听课笔记：要求学生认真听讲，做好听课笔记•课程论文：要求学生根据本课程所学知识，撰写一篇课程论文四、考核方式本课程的考核方式包括：•平时成绩：占20%；•课程论文：占30%；•期末考试：占50%。

五、参考教材本课程的参考教材为《Financial Markets and Institutions》第七版，作者为 Frederic S.Mishkin and Stanley G.Eakins，出版社为 Pearson。

financial-markets-and-institutions-金融市场与机构

PowerPoint Slides for:
Financial Markets and Institutions 6th Edition
By Jeff Madura Prepared by David R. Durst
The University of Akron
第1页，共78页。
CHAPTER
1
u Investor receives dividends if declared u Capital gain/loss when sold u No maturity date—need market to sell
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Valuation of Securities
n Value a function of:
第12页，共78页。
Investor Assessment of New Information
Economic Conditions
Industry Conditions
Impact of Future Cash
Flows
Evaluation of Security
Pricing
Investor Decision to
பைடு நூலகம்第21页，共78页。
Role of Nondepository Financial Institutions
n Focused on capital market n Longer-term, higher risk intermediation n Less focus on liquidity n Less regulation n Greater focus on equity investments
第15页，共78页。

Unit2 Financial Market金融市场

Unit 2: Financial Market
财经英语
背景常识了解
金融市场financial market 金融市场是指资金供求双方supplier and demander运用各种金融工具，通过各种途径实现货币借贷money loan 和资金融通的交易活动的总称。其含义有广义broad sense和狭义 narrow sense之分。广义是指金融机构与客户customer之间、各金融机构之间、客户与客户之间所有以资金商品为交易对象的金融交易，包括存款deposit money 、贷款loan 、信托trusts 、租赁leasehold 、保险、票据抵押loan on notes loans on bills与贴现discount for cash 、股票债券shares and bonds买卖等全部金融活动。狭义则一般限定在以票据和有价证券negotiable securities 为交易对象的融资活动范围之内。沿革广义金融市场的发展历史可以追溯到公元前 2000年巴比伦Babylon寺庙temple经营的货币保管Currency storage 和收取利息charge interest 的放款业务。中国金融市场的起点则可上溯到公元前11世纪的周朝，当时，以“泉府”为中心的赊贷业务开始发展。

Table of Contents
Unit 2
Part One
Reading and Translating Part Two Simulated Writing Part Three Listening and Speaking
Words and Technical Terms
Unit 2 Financial Markets

市场参加者 participator 最初主要是资金盈余或不足的企业和个人以及金融中介机构。随着商品经济和金融市场的发展，现代金融市场的参加者已扩大到社会经济生活中的各个部门，包括企业、个人、政府机构、商业银行、中央银行、证券公司、保险公司、各种基金会等。按照它们进入市场的身份，就某一时点作静态考察，可分为资金供应者Financiers 、资金需求者Funding needs 、中介人和管理者四大类型。在金融市场上促进交易进行的力量有两种：①参加者自身对利润profits的追求。资金供给者供应资金是为了获取利息或红利；资金需求者筹措资金是为了获取比支付利息或红利更多的利润收入；资金中介机构提供各种服务是为了获取手续费收入或赚取差价收入。这种参加者自身对利润的追求，推动着资金从盈余部门向短缺部门流动。②参加者之间的相互竞争vie each other 。不仅资金供求双方存在着竞争，资金需求者之间、资金供给者之间也同样存在着竞争。正是这些错综复杂的竞争，引导着资金的流向flow direction、流量stream of money和流速circulating fund working fund ，促使资金从效益低的部门向效益高的部门流动，从而实现资金的优化配置rational distribution 。

大学金融英语chapter 7 Capital Markets in the U S

the U.S. capital markets? 5. Who are the major participants in the U.S.
capital markets? 6. What are the differences between capital
markets and money markets?
要求 2. to raise capital for... 为……筹措资金 3. to pay off 付清（债务或工资） 4. to set aside 留出 5. to fall into 可分成 6. to protect against... 保护以免受到……的损害 7. to pledge sth. as collateral/security 将……用来作抵押 8. over the phone 在电话上 9. by contrast 相比之下
Main Text
Comparison between U.S. Money Markets and Capital Markets
The trading instruments are different The purposes of them are different The participants in them are different Whereas most money market transactions
12. pension funds 养老基金 13. mutual funds 互助基金 14. over-the-counter (OTC) market 场外交易市场 a secondary market in which
dealers at different locations who have an inventory of securities stand ready to buy and sell securities to anyone who comes to them and is willing to accept their prices 15. primary market (证券或资本的) 一级市场 the sale and purchase of newly issued stocks and bonds by firms or governments 16. secondary market (证券或资本的) 二级市场 a financial market in which securities that have previously been issued can be resold 17. bankers’ acceptance 银行承兑汇票 a time draft that promises to pay a certain sum of money that has been accepted by a bank

Unit2FinancialMarket金融市场详解

【例句】Have you got an alternative suggestion?
你有没有其他的建议？
n. choice of two or more possibilities
可能性中的选择
【例句】You have the alternative of marrying or remaining a bachelor. 你可以结婚也可以仍做单身汉。
Unit 2: Financial Market
财经英语
背景常识了解
金融市场financial market
金融市场是指资金供求双方supplier and demander运用各种金融工具，通过各种途径实现货币借贷money loan
和资金融通的交易活动的总称。其含义有广义broad sense和狭义 narrow sense之分。广义是指金融机构与客户customer之间、各金融机构之间、客户与客户之间所有以资金商品为交易对象的金融交易，包括
Words and Technical Terms
Unit 2 Financial Markets
New words list Key words study Phrases and Expressions Technical Terms
Menu of Key Words
1. dominant 2. alternative 3. negotiable 4. position 5. inventory
、交易时间和地点的不同,可将金融市场分为如下几类:①按
金融工具上约定的期限差别分为货币市场money market
和资本市场capital market。货币市场交易的对象是较短期
(1年以内)的票据bills和有价证券securities ，一般具有“准

学科英语》单元答案

《学科英语》单元答案文件管理序列号：[K8UY-K9IO69-O6M243-OL889-F88688]U n i t1预习练习参考答案Passage 11. 科学知识2. 实践知识3. 应用科学4. 科学原理5. 操作条件6. 预期功能7. 机械原理8. 民用建筑9. 技术学科10. 分支学科11. 基础设施12. 制造工程1. scientific knowledge2. practical knowledge3. applied science4. scientific principle5. operating condition6. intended function7. mechanical principle8. civilian structure9. technical discipline10. sub-discipline11. infrastructure12. manufacturing engineeringTask 11. Tissue engineering has been a newly developed _________ which represents the new direction of biological medicine engineering.disciplinea branch of knowledge组织工程学是一门新兴的学科，它代表了生物医学工程领域发展的新方向。

2. What sort of preferential policies can foreign investors in software and integrated _________ industry enjoy?circuitan electrical device that provides a path for electrical current to flow外商投资软件产业和集成电路产业能享受何种优惠政策？3. NC machine tools are difficult to _________ and often result in heavy economic losses when they go wrong due to the high prices.maintainkeep in a certain state数控机床由于价格昂贵，一旦出现故障，维修困难，常带来较大的经济损失。

金融营销英语

金融营销英语【释义】financial marketing金融营销【短语】1可以看出全金融营销allfinanz marketing;AFM2金融营销风险Financial marketing risk3金融营销风险管理Financial market risk management4迈达斯金融营销奖Midas Awards for Financial Services Communications5金融服务营销业务Financial Services Marketing Operations6金融网络营销师Finacial Network Marketing Mananger7金融服务营销学Marketing Financial Services【例句】1我们在银行总部的营销团队创建了一个新的金融服务来提供给客户。

Our marketing team at the head office of a bank created a new financial service to offer customers.2该代表团将包括城市基础设施建设、城市规划、矿业、能源、法律、金融、建筑、水力、动力、教育和品牌营销部门的公司主管。

The delegation will include chiefs of companies from urban infrastructure,town planning,mining,energy,legal,financial,construction,water,power,education and brand marketing sectors.3如今它不只是简单地破坏、进而更盗取和泄漏保密信息，如信用卡号码、身份证号码、金融数据、营销计划和商贸机密。

The threat today is not simply about vandalism but outright theft of confidential information,such as credit-card Numbers,social-security details,financial data, marketing plans and trade secrets.4“我们在接受采访时愤怒的要求当事者负起责任来，”弗林先生说道。