金融英语课件李丽 马跃ISBN 9787810788175 PPTchapter_2.ppt

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1、Chapter2MoneyDefinitionofMoneyTodefinemoneymerelyascurrencyismuchtoonarrow,becausechecksarealsoacceptedaspaymentforpurchases,andcheckingaccountdepositsareconsideredmoneyaswell.Anevenbroaderdefinitionofmoneyisoftenneededbecauseotheritemssuchassavingsdepo

2、sitscanineffectfunctionasmoneyiftheycanbequicklyandeasilyconvertedintocurrencyorcheckingaccountdeposits.2021/7/222Chapter2MoneyFunctionofMoneyMediumofExchangeUnitofAccountStoreofValue2021/7/223Chapter2MoneyInalmostallmarkettransactionsinaneconomy,moneyi

3、ntheformofcurrencyorchecksisamediumofexchange;itisusedtopayforgoodsandservices.Mostpeopleinsistonpaymentinmoneyatthetimeagoodorserviceissuppliedbecausethealternativesjustdon’tworkverywell.Forexample,barterinwhichagoodorserviceisexchangeddirectlyforanoth

4、ergoodorservicerequiresthataplumberwhoneedsfoodfindagrocerwhoneedsaplumbingrepair.Asyoumightexpect,thissearchwillbedifficultandtime-consuming.1.MediumofExchange2021/7/224Chapter2MoneyThetimespenttryingtoexchangegoodsandservicesiscalledatransactioncost.I

5、nabartereconomy,transactioncostsarehighbecausepeoplehavetosatisfya“doublecoincidenceofwants”—theyhavetofindsomeonewhohasagoodorservicetheywantandwhoalsowantsthegoodorservicetheyhavetooffer.Theuseofmoneyasamediumofexchangepromotesefficiencybyeliminatingm

6、uchofthetimespentinexchanginggoodsandservices.Moneyisthereforeessentialinaneconomy:itisalubricantthatallowstheeconomytorunmoresmoothlybyloweringtransactioncosts,therebyencouragingspecializationandthedivisionoflabor.2021/7/225Chapter2Money2.UnitofAccount

7、Justaswemeasureweightintermsofpoundsordistanceintermsofmiles,wemeasurethevalueofgoodsandservicesintermsofmoney.Moneyistheunitofaccountthatweusetoquotepricesandrecorddebts.Wecouldalsorefertoitasastandardofvalue.Havingaunitofaccountisanincredibleconvenien

8、ce.Toseewhythisfunctionisimportant,let’slookagainatabartereconomywheremoneydoesnotperformthisfunction.2021/7/226Chapter2MoneyIftheeconomyhasonlythreegoods,say,peaches,economicslecturesandmovies,thenweneedtoknowonlythreepricestote