金融英语1PPT课件
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CHAPTER 1
Investments - Background and Issues
整体概述
概述一
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概述二
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概述三
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1-2
The Goals of Chapter 1
This chapter takes an overview of what we will learn in this text book
$22,198
Equipment and software
$3,811
Inventories
$1,634
Consumer durables
$3,843
Total
$45,199
1-8
1.2 A TAXONOMY OF FINANCIAL ASSETS
1-9
Major Classes of Financial Assets
– For individuals, the investment decision is associated with reducing current consumption and plan later consumption
Real Assets
– Assets used to produce goods and services, e.g., property, plant, or equipment
Debt (fixed income securities) (part 3)
– Money market instruments (short term, low risk)
Treasury bills or bank certificates of deposit
– Capital market (longer term, higher risk)
※ Equity in noncorp. business may comes from the investment on sole proprietorship or
partnership companies.
1-6
Financial Versus Real Assets
Net wealth of the economy
– What are financial assets – Introduce different financial assets (Ch 2 and Parts
3, 4, and 5) – Discuss the role of financial markets (Ch 3 will
introduce different securities markets) – Something about corporate governance and ethics – Introduce the investment process – Risk-return trade-off and efficient markets (Part 2) – Know players in financial markets (Ch 4) – Some recent trends in the financial market
1-7
Table 1.2 Domestic Net Worth, 2006
Table 1.2 Domestic net worth (only with real assets)
Assets
Billion
Nonresidential real estate
$13,713
Residential real estate
– Do generate net income to the economy
Financial Assets
– Claims on real assets or the income generated by them, e.g., equityshares of GM or Toyota
1-5
Table 1.1. Balance Sheet of U.S. Households
1-3
1.1 REAL ASSETS VERSUS FINANCIAL ASSETS
1-4
Financial Versus Real Assets
Essential nature of investment
– Sacrifice something of value now and expect to benefit from that sacrifice later
– Banks account, corporate stock, or corporate bonds are not only financial assets of households but also the liabilities of the issuers
First, banks use the money of deposits to lend to firms or individuals or to buy some financial asset issued by firms Second, firms issue financial assets to pay for the acquirement of real assets
※ The largest asset and liability both come from the owned house.
※ The position of deposits is usually maintained for liquidity.
※ Pension reserves is the money or assets invested for future retired life.
– By aggregating balance sheets over all households and firms, those financial claims cancel out, leaving only real assets as the net wealth of the economy
Investments - Background and Issues
整体概述
概述一
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相关文本内容
概述二
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相关文本内容
概述三
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相关文本内容
1-2
The Goals of Chapter 1
This chapter takes an overview of what we will learn in this text book
$22,198
Equipment and software
$3,811
Inventories
$1,634
Consumer durables
$3,843
Total
$45,199
1-8
1.2 A TAXONOMY OF FINANCIAL ASSETS
1-9
Major Classes of Financial Assets
– For individuals, the investment decision is associated with reducing current consumption and plan later consumption
Real Assets
– Assets used to produce goods and services, e.g., property, plant, or equipment
Debt (fixed income securities) (part 3)
– Money market instruments (short term, low risk)
Treasury bills or bank certificates of deposit
– Capital market (longer term, higher risk)
※ Equity in noncorp. business may comes from the investment on sole proprietorship or
partnership companies.
1-6
Financial Versus Real Assets
Net wealth of the economy
– What are financial assets – Introduce different financial assets (Ch 2 and Parts
3, 4, and 5) – Discuss the role of financial markets (Ch 3 will
introduce different securities markets) – Something about corporate governance and ethics – Introduce the investment process – Risk-return trade-off and efficient markets (Part 2) – Know players in financial markets (Ch 4) – Some recent trends in the financial market
1-7
Table 1.2 Domestic Net Worth, 2006
Table 1.2 Domestic net worth (only with real assets)
Assets
Billion
Nonresidential real estate
$13,713
Residential real estate
– Do generate net income to the economy
Financial Assets
– Claims on real assets or the income generated by them, e.g., equityshares of GM or Toyota
1-5
Table 1.1. Balance Sheet of U.S. Households
1-3
1.1 REAL ASSETS VERSUS FINANCIAL ASSETS
1-4
Financial Versus Real Assets
Essential nature of investment
– Sacrifice something of value now and expect to benefit from that sacrifice later
– Banks account, corporate stock, or corporate bonds are not only financial assets of households but also the liabilities of the issuers
First, banks use the money of deposits to lend to firms or individuals or to buy some financial asset issued by firms Second, firms issue financial assets to pay for the acquirement of real assets
※ The largest asset and liability both come from the owned house.
※ The position of deposits is usually maintained for liquidity.
※ Pension reserves is the money or assets invested for future retired life.
– By aggregating balance sheets over all households and firms, those financial claims cancel out, leaving only real assets as the net wealth of the economy