经济金融专业德国APS审核.docx

经济金融专业德国APS审核.docx

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经济金融专业德国APS审核

西方经济学

必修课

3.0

WesternEconomics

Thiscoursewemainlylearnmacroeconomicsandmicroeconomics.

Macroeconomicsisabranchofeconomicsdealingwiththeperformance,structure,behavior,anddecision-makingoftheentireeconomy.Thisincludesanational,regional,orglobaleconomy.

Measuresofnationalincomeandoutput:

toestimatetotaleconomicactivityinacountryorregion,includinggrossdomesticproduct（GDP）,grossnationalproduct（GNP）,andnetnationalincome（NNI）

---Theexpenditureapproach.Itfocusesonfindingthetotaloutputofanationbyfindingthetotalamountofmoneyspent.

[C=householdconsumption,I=grossprivatedomesticinvestment,G=governmentconsumptionandgrossinvestment,X=grossexportsofgoodsandservices,M=grossimportsofgoodsandservices]

---Theincomeapproach.Itequatesthetotaloutputofanationtothetotalfactorincomereceivedbypeopleofthenation.

Nationalincome=Compensationofemployees+Netinterest+Rental&royaltyincome+Profitoffirms+Incomefromself-employment+NFIA（netfactorincomefromabroad）.

TheIS/LMmodel（InvestmentSaving/LiquiditypreferenceMoneysupply）isamacroeconomictoolthatdemonstratestherelationshipbetweeninterestratesandrealoutputinthegoodsandservicesmarketandthemoneymarket.

Microeconomicsisabranchofeconomicsthatstudiesthebehaviorofhowtheindividualmodernhouseholdandfirmsmakedecisionstoallocatelimitedresources.

Demandcurve:

Ineconomics,thedemandcurveisthegraphdepictingtherelationshipbetweenthepriceofacertaincommodity,andtheamountofitthatconsumersarewillingandabletopurchaseatthatgivenprice.

Supplycurve:

Agraphshowingthehypotheticalsupplyofaproductorservicethatwouldbeavailableatdifferentpricepoints.

证券投资学

限选课

3.0

SecuritiesandInvestment

Securitiesinvestmentismainlyabouthowtomanagetheinvestment,frombothfundamentalandtechnicalanalysisofstocks,themeaningofthefundamentalsofanalysisofthevalueofthecompanystock,financialposition,profitability,growthability,technicalanalysisreferstotheanalysisofthestockpricefromatechnicalpointofview,themainapplicationofthek-linetheory.Thetrendline,theformoflaw,andthegoldensectiontheory.

"Assetmanagement"

Investmentmanagementistheprofessionalmanagementofvarioussecurities（shares,bondsetc.）andassets（e.g.,realestate）,tomeetspecifiedinvestmentgoalsforthebenefitoftheinvestors.Investorsmaybeinstitutions（insurancecompanies,pensionfunds,corporationsetc.）orprivateinvestors（bothdirectlyviainvestmentcontractsandmorecommonlyviacollectiveinvestmentschemese.g.mutualfunds）.

Thesecuritiesmarketrefersonlytothecapitalsecuritieswillbecometheobjectoftrading,thestockmarketiscapitalizedsecuritiesissuanceandcirculationspaces.Usuallyreferstostock,debt,fundincomecertificateorothersecuritiesofacapitalmarkettransactionobject,suchasbilldiscountingsuchshort-termsecuritiesmarketdoesnotincludewithinthescopeofthesecuritiesmarketsorsecuritiesindustry.

证券投资学主要讲的是如何来管理投资，从基本面和技术两个方面来分析股票，基本面的含义是分析公司股票的价值，主要从财务状况，盈利能力，增长能力等方面，技术分析指的是从技术角度来分析股票价格，主要应用的是k线理论。

包括趋势线，形态法，以及黄金分割理论等。

“资产管理”

投资管理的专业管理各种证券（股票，债券等）和资产（如房地产），以满足特定的投资目标，投资者的利益。

投资者可机构（保险公司，养老基金，企业等）或私人投资者（无论是直接通过投资合同，通常通过集体投资计划例如共同基金。

证券市场Stockmarket

证券市场只是指资本化了的证券才会成为买卖的对象，证券市场就是进行资本化有价证券的发行和流通的场所。

通常指股票、债权、基金收益凭证等有价证券为交易对象所形成的一种资本市场，而诸如票据贴现这样的短期证券市场则并不包括在证券市场或证券业范围内。

国际金融

必修课

3.0

国际金融主要讲了外汇，外汇包括外国货币，外币形式的有价证券，支付凭证和其他外汇资产。

然后学习了汇率的两种标价法，直接标价法和间接标价法。

一单位外币=？

本币，是直接标价法。

一单位本币=？

外币，是间接标价法。

中国采用直接标价法。

Westudiedmainlyforeignexchangeandbalanceofpayments.Foreignexchangeconsistsofforeigncurrency,securitiesandpaymentinstrumentintheformofforeigncurrencyandotherforeigncurrencyassets.Thenwestudiedtwoquotationsofexchangerate,directquotationandindirectquotation.

Oneunitforeigncurrencyequalshowmuchdomesticcurrency,thisisdirectquotation.

Andoneunitdomesticcurrencyequalshowmuchforeigncurrencyisindirectquotation.InChina,weusedirectquotation.

还学习了国际收支。

国际收支是指一个国家在一定时期内发生的所有对外经济交易的总和。

国际收支平衡表可以清晰的显示出一个国家的国际收支状况。

国际收支平衡表有三个内容，经常项目，资本项目，平衡项目（错误和遗漏账户）。

国际收支平衡表上有贷方余额，则说明国际收支发生了顺差，即这个国家在这段时期的对外经济往来收入大于支出。

这会使得该国国际储备和对外支付能力增强。

但顺差也有缺点。

1.一国外汇市场上的外汇供给大于外汇需求，外汇汇率下降，本币汇率上升，不利于出口，加重国内失业。

2.顺差使外汇储备增加，外汇侵占本币的市场，从而引发国内通货膨胀。

3.如果是出口引起的顺差，说明国内资源大量外流，不利于本国经济的发展。

Andwealsolearnedbalanceofpayments.

Itmeansallinternationaleconomictradesumofonecountryduringaperiod.Thebalanceofpaymentsstatementcanshowthebalanceofpaymentssituationclearly.

Thereare3contentsinthestatement.Currentaccount,capitalandfinancialaccount,andbalanceaccount.

Ifthereisacreditbalanceinthestatement,itmeansthereissurplusinbalanceofpayments,namelytheforeignincomeismorethanexpenditureforthiscountryinthisperiod,whichwillenhancetheabilityofinternationalreserveandforeignpayment.

Surplus’’sbadfordomesticeconomy.

Internationalfinance

Internationalfinanceisthebranchofeconomicsthatstudiesthedynamicsofexchangerates,internationalinvestment,globalfinancialsystem,andhowtheseaffectinternationaltrade.

Balanceofpayments

Balanceofpayments（BOP）accountsareanaccountingrecordofallmonetarytransactionsbetweenacountryandtherestoftheworld.Thesetransactionsincludepaymentsforthecountry'sexportsandimportsofgoods,services,financialcapital,andfinancialtransfers.

ThetwoprincipalpartsoftheBOPaccountsarethecurrentaccountandthecapitalaccount.

Thecurrentaccountshowsthenetamountacountryisearningifitisinsurplus,orspendingifitisindeficit.Itisthesumofthebalanceoftrade（netearningsonexportsminuspaymentsforimports）,factorincome（earningsonforeigninvestmentsminuspaymentsmadetoforeigninvestors）andcashtransfers.

Thecapitalaccountrecordsthenetchangeinownershipofforeignassets.Itincludesthereserveaccount（theforeignexchangemarketoperationsofanation'scentralbank）,alongwithloansandinvestmentsbetweenthecountryandtherestofworld.

Bytheprinciplesofdoubleentryaccounting,anentryinthecurrentaccountgivesrisetoanentryinthecapitalaccount,andinaggregatethetwoaccountsautomaticallybalance.

TheExchangeRate汇率

WegetforeigncurrencyandforeignersgetU.S.dollarsintheforeignexchangemarket—themarketinwhichthecurrencyofonecountryisexchangedforthecurrencyofanother.

Thepriceatwhichonecurrencyexchangesforanotheriscalledaforeignexchangerate.

Currencydepreciation贬值isthefallinthevalueofthecurrencyintermsofanothercurrency.

Currencyappreciation升值istheriseinvalueofthecurrencyintermsofanothercurrency.

Foreignexchangemarket

Theforeignexchangemarketisaglobal,worldwidedecentralizedfinancialmarketfortradingcurrencies.

Determinantsofexchangerates:

1.Economicfactors:

Theseinclude:

（a）economicpolicy,disseminatedbygovernmentagenciesandcentralbanks,（b）economicconditions,generallyrevealedthrougheconomicreports,andothereconomicindicators.

2.Politicalconditions:

Internal,regional,andinternationalpoliticalconditionsandeventscanhaveaprofoundeffectoncurrencymarkets.

3.Marketpsychology:

Flightstoquality,etc.

ChangesintheExchangeRate

Changesindemandandsupplyintheforeignexchangemarketchangetheexchangerate

RelativePurchasingPowerParity:

Acurrencyshouldbuythesameamountofgoodsandservicesineverycountry.

Accordingtothistheory,thechangeintheexchangerateisdeterminedbypricelevelchangesinbothcountries.

国际投资学

专业课

3.0

InternationalInvestment

InternationalInvestmentisInternationalinvestorswillinvestincountrieswheretherateofreturnoninvestmentinhigher.Forexample,iftheinvestorslendoutfundsinthesecountriestheywillgethigherinterestpayment.Andifonecountry’sinterestrateishigh,morefundswillflowintothiscountry.

InternationalInvestment,includinginternationaldirectinvestmentandindirectinvestment.Internationaldirectinvestmentisgoabroadtobuildorbuyfactoriesandsetupbranchesormergersandacquisitions.Itcanmakedecisioninthiscompanyandachieveincome.

Internationalindirectinvestmentisjusttoinvestinsecuritiesofforeigncompanies,holdingstocksinordertoachieveincomebutnottomakedecisioninthiscompany.

Monetarypolicy

Centralbankschosenacountry'smonetarypolicyandmanagesastate'scurrency,moneysupply,andinterestratesinordertoreduceunemployment,makePricestability;EconomicgrowthandFinancialmarketstability

Interestrateinterventions

Acentralbankcontrolscertaintypesofshort-terminterestrates.Loweringtheinterestistoencourageeconomicgrowthandisoftenusedtoalleviatetimesofloweconomicgrowth.Ontheotherhand,raisingtheinterestrateisoftenusedintimesofhigheconomicgrowthasacontra-cyclicaldevicetokeeptheeconomyfromoverheatingandavoidmarketbubbles.

double-entrybookkeepingsystem复式记账法

Adouble-entrybookkeepingsystemisasetofrulesforrecordingfinancialinformationinafinancialaccountingsysteminwhicheverytransactionoreventchangesatleasttwodifferentnominalledgeraccounts.eachtransactionwasenteredtwice,withonesideofthetransactionbeingcalledadebitandtheotheracredit.

一个复式簿记系统是一套规则，记录财务信息的财务会计制度中，每个交易或事件的变化至少有两个不同的名义总帐科目。

每笔交易被输入两次，用一侧被称为一个借方和其他信用交易。

AccountingEquation记账的等式

Assets=liabilities+equity

资产等于负债加上所有者权益

BalanceSheetislike"snapshotofacompany'sfinancialcondition"

Abal