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1、金融学莫林伯顿网络教学平台答案第一单元双语版内部资料哈IntroductionandOverview1.Provideashortdiscussionordefinitionofthefollowingterms:economics,finance,thefinancialsystem,netlenders,netborrowers,directandindirectfinance,financialmarkets,financialintermediaries,liquidity,thebusinesscycle,depositoryinstitutio
2、ns,andmonetarypolicy.Economics:Thestudyofhowasocietydecideswhattoproduce,howtoproduce,andwhogetswhat;thestudyofhowscarceresourcesgetallocatedtosatisfyunlimitedwants.Finance:Thestudyofhowthefinancialsystemcoordinatesandchannelstheflowoffundsfromlenderstoborrowers—andviceversa—andho
3、wnewfundsarecreatedbydepositoryinstitutionsduringtheborrowingprocess;theraisingandusingofmoneybyhouseholds,firms,governments,andthe“restoftheworld”(foreign)sectors.Netlenders:Spendingunitssuchashouseholdsandfirmswhosespendingonconsumptionandinvestmentislessthanincome.Netborrowers:
4、Spendingunitssuchashouseholdsandfirmswhosespendingonconsumptionandinvestmentismorethanincome.Directfinance:Whennetlenderslendtheirsurplusfundsdirectlytonetborrowers.Indirectfinance:Whennetlendersdeposittheirsurplusfundsintofinancialintermediarieswhichinturn,lendthefundstonetborrow
5、ers;whennetborrowersborrowfundsfromfinancialintermediariesthathaveacquiredfundstolendfromnetlendersandthatissuetheirownliabilities.Financialintermediaries:Financialinstitutionsthatborrowfromnetlendersforthepurposeoflendingtonetborrowers;financialintermediariessuchasbanks,savingsan
6、dloanassociations,creditunions,mutualfunds,insurancecompanies,andfinancecompaniesissuemonetaryandotherclaimsonthemselves;theyserveasgobetweenstolinkupnetlendersandnetborrowers.Liquidity:Theeasewithwhichafinancialorrealassetcanbeconvertedtocashwithoutlossofvalue.Businesscycle:Shor
7、trunfluctuationsinthelevelofeconomicactivityasmeasuredbytheoutputofgoodsandservicesintheeconomy.Depositoryinstitutions:Financialintermediariesthatoffercheckabledepositswhicharesubjecttowithdrawalbywritingachecktoathirdpartyandwhicharepartofthenation’smoneysupply.Monetarypolicy:Th
8、eFed’sefforttopromotetheoverallhe