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1、Chapter 1Why Study Money,Banking,and Financial Markets?2005 Pearson Education Canada Inc.Why Study Financial Markets?1.Channel funds from savers to investors,thereby promoting economic efficiency2.Affect personal wealth and behavior of business firmsWhy Study Banking and Financial Institutions?1.Fin
2、ancial IntermediationHelps get funds from savers to investors2.Banks and Money SupplyCrucial role in creation of money3.Financial InnovationWhy Study Money and Monetary Policy?1.Influence on business cycles,inflation,and interest rates2Bond Market3 2005 Pearson Education Canada Inc.Stock Market4 200
3、5 Pearson Education Canada Inc.Foreign Exchange Market5 2005 Pearson Education Canada Inc.Money and Business Cycles6 2005 Pearson Education Canada Inc.Money and the Price Level7 2005 Pearson Education Canada Inc.Money Growth and Inflation8 2005 Pearson Education Canada Inc.Money Growth and Interest
4、Rates9 2005 Pearson Education Canada Inc.Fiscal Policy and Monetary Policy10 2005 Pearson Education Canada Inc.How We Study Money and BankingBasic Analytic Framework1.Simplified approach to the demand for assets2.Concept of equilibrium3.Basic supply and demand approach to understand behavior in fina
5、ncial markets4.Search for profits5.Transactions cost and asymmetric information approach to financial structure6.Aggregate supply and demand analysisFeatures1.Case studies2.Applications3.Special-interest boxes4.Following the Financial News boxes5.Reading the financial pages6.Web Exercises and URLs 2
6、005 Pearson Education Canada Inc.11Appendix:DefinitionsAggregate OutputGross Domestic Product(GDP)=Value of all final goods and services produced in domestic economy during yearAggregate IncomeTotal income of factors of production(land,capital,labor)during yearDistinction Between Nominal and RealNom
7、inal=values measured using current pricesReal=quantities,measured with constant pricesAggregate Price Level nominal GDPGDP Deflator=real GDP$10 trillion GDP Deflator=1.11$9 trillionConsumer Price Index(CPI)price of“basket”of goods and services12 2005 Pearson Education Canada Inc.Appendix:DefinitionsGrowth Rates and the Inflation Rate13 2005 Pearson Education Canada Inc.