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1、 2005 Pearson Education Canada Inc.,Chapter 1,Why Study Money,Banking,and Financial Markets?,2005 Pearson Education Canada Inc.,1-2,Why Study Financial Markets?1.Channel funds from savers to investors,thereby promoting economic efficiency2.Affect personal wealth and behavior of business firmsWhy Stu
2、dy Banking and Financial Institutions?1.Financial 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 rates,2005 Pearson Educatio
3、n Canada Inc.,1-3,Bond Market,2005 Pearson Education Canada Inc.,1-4,Stock Market,2005 Pearson Education Canada Inc.,1-5,Foreign Exchange Market,2005 Pearson Education Canada Inc.,1-6,Money and Business Cycles,2005 Pearson Education Canada Inc.,1-7,Money and the Price Level,2005 Pearson Education Ca
4、nada Inc.,1-8,Money Growth and Inflation,2005 Pearson Education Canada Inc.,1-9,Money Growth and Interest Rates,2005 Pearson Education Canada Inc.,1-10,Fiscal Policy and Monetary Policy,1-11,How We Study Money and Banking,Basic Analytic Framework1.Simplified approach to the demand for assets2.Concep
5、t of equilibrium3.Basic supply and demand approach to understand behavior in financial markets4.Search for profits5.Transactions cost and asymmetric information approach to financial structure6.Aggregate supply and demand analysisFeatures1.Case studies2.Applications3.Special-interest boxes4.Followin
6、g the Financial News boxes5.Reading the financial pages6.Web Exercises and URLs,2005 Pearson Education Canada Inc.,2005 Pearson Education Canada Inc.,1-12,Appendix:Definitions,Aggregate OutputGross Domestic Product(GDP)=Value of all final goods and services produced in domestic economy during yearAg
7、gregate IncomeTotal income of factors of production(land,capital,labor)during yearDistinction Between Nominal and RealNominal=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 services,2005 Pearson Education Canada Inc.,1-13,Appendix:Definitions,Growth Rates and the Inflation Rate,
