货币银行学教材

货币、银行与金融市场学

(The Economics Of Money, Banking and

Financial Markets)

教材：

学生用书：《货币金融学》(The Economics Of Money, Banking and Financial Markets)，[美] Frederic S. Mishkin/著，中国人民大学出版社，2006年第七版。

教师用书：“The Economics Of Money, Banking and Financial Markets”，7th Edition. Frederic S. Mishkin, 2005.

阅读书目：

1．《西欧金融史》，[美]P. 金德尔伯格/著，中国金融出版社，1991年。(“A Financial History of Western Europe”, Charles P. Kinderberger.)

2．《货币史—从公元800年起》，[英]约翰. F. 乔恩/著，商务印书馆，2002年。(“A HISTORY OF MONEY—From AD 800”, John F. Chown, 1994.)

3．《国际金融市场》第四版，[英]斯蒂芬. 瓦尔迪兹朱利安. 伍德/著，

中国金融出版社，2005年。(“An Introduction to Global Financial Market”, 4th Edition, by Stephen Valdez, 2003.)

4．“Lombard Street: A Description of The Money Market”, by Walter Bagehot.

5．《货币银行学》，黄达/编，中国人民大学出版社。

6．《货币银行学》，夏德仁李念斋/编，中国金融出版社。

Part 1 导言(Introduction)

Chapter 1 为什么要研究货币、银行和金融市场? (Why study Money, Banking, and Financial

Market)?

一.为什么要研究金融市场(Why study Financial Market)？

Part 2 of this book focuses on financial market, market in which funds are transferred from people who have an excess of available funds to people who a shortage. Financial market such as stock market and bond market are important in channeling funds from people who do not have a productive use for them to those who do, a process that results in greater economic efficiency. Activities in financial market also have direct effects on personal wealth, the behavior of businesses and consumers, and the overall performance of the economy.

（一）债券市场(The Band Market and Interest Rates)

A security (also called a financial instrument) is a claim on the issuer’s future income or assets (any financial claim or piece of property that is subject to ownership). A bond is a debts security that promises to make payments periodically for a specified period of time. The bond market is especially important to economic activities and because it enable corporations or governments to borrow to finance

their activities and because it is where interest rates are determined. An interest rate is the cost of borrowing or the price paid for the rental of funds. There are many interest rates in the economy—mortgage interest rate, car loan rate, and interest rates on many different types of bonds.

Because different interest rates have a tendency to move in unison, economists frequently lump interest rates together and refer to “the” interest rate.

（二）股票市场(The Stock Market)

A stock represents a share of ownership in a corporation. It is a security that is a claim on the earnings and assets of the corporation. Issuing stock and selling it to the public is a way for corporations to raise funds to finance their activities. The stock market, in which claims on the earnings of corporations (shares of stock) are traded, is the most widely followed financial market in America (that’s why it is often called simply “the market”). A big swing in the prices of shares in the stock market is always a big story on the evening news. People often express their opinion on where the market is heading and frequently tell you about their latest “big killing”(although you seldom hear about their latest “big loss”!). The attention the market receives can probably be best explained by one simple fact: It is a place where people can get rich quickly.