FEmoney.docx

FEmoney.docx

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FEmoney

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Money

FinancialEnglish

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LearningObjectives

Afterlearningthis,youshouldbeableto:

★definemoney;barter

★describecharacteristicsofmoney

★understandthedifferencebetweenmoneyandwealth;moneyandincome

★explain“doublecoincidenceofwants”

★illustratetypesofmoney

★describefunctionsofmoney

★understandinterestandinterestrate

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Money

●1.DefinitionofMoney

●2.TypesofMoney

●3.FunctionsofMoney

●4.InterestandInterestRate

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1.DefinitionofMoney

--Whatismoney?

--Whatarethecharacteristicsofmoney?

--Whatisthedifferencebetweenmoneyandwealth?

--Whatisthedifferencebetweenmoneyandincome?

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DefinitionofMoney

●Money

●Money（货币）canbedefinedasanyobjectthatisgenerallyacceptedinthepaymentforgoodsandservicesorintherepaymentofdebts.

●Currency

●Currencyreferstobanknotesandcoins.

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DefinitionofMoney

GoodsandServices

Goods–thingsyoucantouch,“tangible”;

Services-thingsyoucan’ttouch,butyoucanseetheireffect,“intangible”

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DefinitionofMoney

●CharacteristicsofMoney

●portability可携带性

●durability持久性

divisibility可分性

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DefinitionofMoney

Difference:

MoneyandWealth

Wealthincludesnotonlymoney,butalsootherassets,suchasbonds,stocks,art,land,cars,houses,etc.

MoneyandIncome

Incomeisaflowofearningsperunitoftime.

Moneyisastock.Itisacertainamountatagivenpointintime.

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2.TypesofMoney

--Whatisbarter?

--Whatdoes“adoublecoincidenceofwants”mean?

Canyougiveoneexample?

--Whataretheproblemswithabartersystem?

--Whatarethemaintypesofmoney?

--Whatiscommoditymoney?

--Whatisrepresentativemoney?

--Whatiscreditmoney?

--Whatiselectronicmoney?

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TypesofMoney

EmergenceofMoney

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UseofMoney

Barter

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TypesofMoney

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TypesofMoney

Examplesofcommoditiesthathasbeenusedasmediumsofexchangeinclude：

gold,silver,copper,salt,largestones,decoratedbelts,shells,alcohol,cigarettes,barley（大麦）,etc.

Full-bodiedmoney（足值货币）isoneofthestagesofcommoditymoneyusingpreciousmetals,mostlysilverandgold.

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TypesofMoney

（2）RepresentativeMoney

Representativemoney（代用货币）orrepresentativefull-bodiedmoneyreferstopapermoneyfullybackedbyapreciousmetal.

Forexample,goldcertificates（金币券）andsilvercertificates（银币券）.

Goldcertificate

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TypesofMoney

（3）CreditMoney

Creditmoney（信用货币）isthemoneywhichdoesnotconsistoforrepresentaspecificvaluablecommodity.

creditmoneyisbasedonthecreditofnationalgovernmentsandbanks.

Almostallmoneycirculatingintheworldtodayissomeformofcreditmoney.

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TypesofMoney

LegalTender/FiatMoney

•legaltender法偿货币

•Legallyvalidcurrencythatmaybeofferedinpaymentofadebtandthatacreditormustaccept.

•法偿币由法律规定的可以用于支付债款而且贷方必须接受的有效货币

•fiatmoney法定货币

•Legaltender,especiallypapercurrency,authorizedbyagovernmentbutnotbasedonorconvertibleintogoldorsilver.

•尤指纸币等由政府批准但不根据金银而定或不能与金银兑换的货币

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TypesofMoney

（4）ElectronicMoney

Electronicmoney（电子货币）referstodepositorymoneythatisstoredandprocessedthroughcomputersystemorelectronicpaymentsystem.

Differentformsofelectronicmoney

Creditcards,smartcards,andfundsheldinonlineaccounts.

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3.FunctionsofMoney

●--Whatarethemainfunctionsofmoney?

--Ismoneytheonlystoreofvalue?

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FunctionsofMoney

●FunctionsofMoney

●Mediumofexchange交换媒介

●paysforgoodsandservices.

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（2）UnitofAccount计价单位

●standardformeasuringvalue.

●（3）Storeofvalue价值储藏

●savingpurchasingpowerovertime.

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FunctionsofMoney

（1）Mediumofexchange（交换媒介）

●Amediumofexchangeisanobjectthatisgenerallyacceptedinexchangeforgoodsandservices．

●

●交换媒介是一种在物品与劳务交换中被普遍接受的东西。

Moneyisamediumofexchangeacceptedbythecommunity,meaningit'swhatpeoplebuythingswithandsellthingsfor.

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FunctionsofMoney

（2）UnitofAccount（计价单位）

●Aunitofaccountisanagreedmeasureforstatingthepricesofgoodsandservices．

●

●计价单位是一种双方同意的表示物品与劳务价格的衡量标准.

●Moneyprovidesastandardformeasuringvalue（unitofaccount）,sothattheworthofdifferentgoodsandservicescanbecompared.

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FunctionsofMoney

（3）Storeofvalue（价值储藏）

●Anycommodityortokenthatcanbeheldandexchangedlaterforgoodsandservicesiscalledastoreofvalue．

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●任何一种可以保存并能够在以后交换物品与劳务的商品或符号，都称为价值储藏。

Moneyisastoreofvaluethatcanbesavedforlaterpurchases.

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FunctionsofMoney

StandardofDeferredPayment（延期支付标准）

●Astandardofdeferredpayment（延期支付标准）istheacceptedwayinagivenmarket,tosettleadebt—aunitinwhichdebtsaredenominated.

●Peoplearguethatusingmoneyasastandardofdeferredpaymentisadirectconsequenceoftheunitofaccountandstoreofvaluefunctionsofmoney.

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4.InterestandInterestRate

--Whatisthedefinitionofinterest?

--Whatisthededinitionofinterestrate?

--Whatissimpleinterest?

--Whatiscompoundinterest?

--Whatisnominalinterestrate?

--Whatisrealinterestrate?

--Whatisofficialinterestrate?

--Whatismarketinterestrate?

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InterestandInterestRate

Interest

Interestisafeepaidonborrowedassets.Itisthepricefortheuseofborrowedmoney,or,moneyearnedbydepositedfunds.

Interestrate

Interestratereferstotheratiooftheinterestformedduringtheperiodofborrowingandlendingtotheprincipalofthegrantedloan.

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InterestandInterestRate

Interestrateshaveanimpactontheoverallhealthoftheeconomyoftheeconomybecausetheyaffectnotonlyconsumers’willingnesstospendorsave,butalsobusinesses’investmentdecisions.

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InterestandInterestRate

SimpleInterestandCompoundInterest

●Simpleinterest（单利）referstointerestearnedonlyontheprincipaloftheinitialinvestment.

●Itisgiveninthefollowingformula:

●SimpleInterest

●I=PRn

●S=P+I=P（I+Rn）

●WhereIstandsfortheinterestearned,Pistheprincipal,Ristheinterestrateperyear,nisthetimeinyears,andsisthesumofprincipalandinterest.

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InterestandInterestRate

SimpleInterestandCompoundInterest

●Compoundinterest（复利） is interest addedtotheprincipalofadepositorloansothattheadded interest alsoearns interest fromthenon. 

●Theformulaconcerningcompoundinterestcanbestatedasfollows:

●CompoundInterest

●S=P（I+R）n

I=S-P

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InterestandInterestRate

NominalandRealInterestRates

●Nominalinterestrate（名义利率）isthepromisedamountofmoneyyoureceiveperunityoulend.Itisunadjustedforinflation.

●Realinterestrate（实际利率）isapproximatelythenominalinterestminustheinflationrate.Itisadjustedforinflation.

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InterestandInterestRate

OfficialandMarketInterestRates

●Officialinterestrate（官方利率）istheratesetbythecentralbanksormonetaryauthorities.

●Marketinterestrate（市场利率）istheratewhollydeterminedbythedemandandsupplyoffundsinthefinancialmarketsatacertainperiod.

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MoneySupply

--Whatdoesmoneysupplyreferto?

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MoneySupply

Ineconomics,moneysupplyisthetotalamountofmoneyavailableinaneconomyataparticularpointoftime.

Moneysupplyreferstothecollectionofallkindsofmoneyinaneconomy,includingthevolumeofcurrencyincirculationandthevolumeofdepositsatanypointintime.

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MoneySupply

Thereareseveralwaystodefine"money,"butstandardmeasuresusuallyincludecurrencyincirculationanddemanddeposits

Moneysupplyisdividedintomultiplecategories（M0,M1,M2,M3）.Moneysupplyisimportanttoeconomiststryingtounderstandhowpolicieswillaffectinterestratesandgrowth.

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MoneySupply

●Generallyspeaking,moneysupplyisdefinedasfollows:

●Thenarrowmeasureofmoney:

M0andM1

●M0=Currency

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●M0isthecurrencyorcashincirculationincludingbanknotesandcoins.

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●M1=M0+Dd

M1includesM0,checkableordemanddepositsatbanks.

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MoneySupply

Generallyspeaking,moneysupplyisdefinedasfollows:

b.Thebroadmeasureofmoney:

M2andM3

M2=M1+Ds+Dt

M2includesallofM1plussavingsdepositsandtimedepositsatbanks.

M3=M2+short-termgovernmentsecurities+commercialpaper+lifeinsurancepolicies

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MoneySupply

TheMonetaryAggregatesMeasuredinChina

M0=Currency

M1=M0

+DemandDepositsofEnterprises

+DepositsofOrganizationsandArmy

+DepositsinRuralAreas

+CreditDepositofIndividuals

M2=M1

+SavingsDepositofResidents

+TimeDepositofEnterprises

+DepositinTrust

+OtherDeposits

M3=M2

+FinancialBond

+TradePaper

+NegotiableCertificateofDeposit（CD）

M0：

流通中的现金；

M1：

M0+企业活期存款+机关团体部队存款+农村存款+个人持有的信用卡类存款；

M2：

M1+城乡居民储蓄存款+企业存款中具有定期性质的存款+信托类存款+外币存款；

M3：

M2+金融债券+商业票据+大额可转让存单等

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Summary

●Money

●Money（货币）canbedefinedasanyobjectthatisgenerallyacceptedinthepaymentforgoodsandservicesorintherepaymentofdebts.

●CharacteristicsofMoney

●portability可携带性

●durability持久性

●divisibility可分性

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Summary

Difference:

MoneyandWealth

Wealthincludesnotonlymoney,butalsootherassets,suchasbonds,stocks,art,land,cars,houses,etc.

MoneyandIncome

Incomeisaflowofearningsperunitoftime.

Moneyisastock.Itisacertainamountatagivenpointintime.

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Summary

●Barter

●Barter（物物交换）istheprocess