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 SystemThis 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 MarketsDebt and Equity MarketsPrimary and Secondary MarketsExchanges and Over-the-Counter MarketsMoney and Capital Markets* Financial Market InstrumentsMoney Market InstrumentsCapital Market Instruments* Internationalization of Financial MarketsInternational Bond Market, Eurobonds, and EurocurrenciesWorld Stock Markets* Function of Financial Intermediaries: Indirect FinanceTransactions CostsRisk SharingAsymmetric Information: Adverse Selection and?Moral Hazard* Types of Financial IntermediariesDepository InstitutionsContractual Savings InstitutionsInvestment Intermediaries* Regulation of the Financial SystemIncreasing Information Available to InvestorsEnsuring the Soundness of Financial IntermediariesFinancial 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 CyclesMoney and InflationMoney and Interest RatesConduct of Monetary PolicyFiscal Policy and Monetary Policy主要外语词汇Chapter 2 An Overview of the Financial Systemadverse selection Eurocurrencies Eurodollars exchanges money marketmoral hazard over-the-counter (OTC) market asymmetric information brokerscapital capital market currency federal funds rate financial intermediation financial panic portfolio primarymarket risk dealers defaultdiversification dividends economies of scale equities Eurobond foreign bonds intermediate-term investment bank liabilities liquidliquidity services long-term maturity risk sharing secondary marketshort-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/G2S/Template/View.aspx?action=view&courseType=0&courseId=325复习思考题Chapter 2 An Overview of the Financial Systeml. Why is a share of Microsoft common stock an asset for its owner and a liabilityfor Microsoft?2. If I can buy a car today for $ 5,000 and it is worth $ 10,000 in extra income nextyear to me because it enables me to get a job as a traveling anvil seller, shouldI take out a loan from Larry the Loan Shark at a 90% interest rate if no one elsewill give me a loan? Will I be better or worse off as a result or taking out thisloan? 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 tobuild a railroad system. What was the principal debt instrument used? Why did thismake both countries better off?5. "Because corporations do not actually raise any funds in secondary markets, theyare less important to the economy than primary markets. "Comment.6. If you suspect that a company will go bankrupt next year, which would you ratherhold, 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 makea 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 statementTrue, 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。