《2019年大学金融英语chapter 3 Monetary Policy.ppt》由会员分享，可在线阅读，更多相关《2019年大学金融英语chapter 3 Monetary Policy.ppt（11页珍藏版）》请在三一文库上搜索。
1、Chapter Three,Monetary Policy,Learning objectives,After learning this chapter you should be able to: 1. Give your definition of monetary policy 2. Tell the chief types or classes of monetary policies 3. Explain the targets of monetary policy 4. Describe the usual tools or instruments used to impleme
2、nt U.S. monetary policy,Notes,I. New Words 1. outflow n. 流出（指资金流向国外，与其相对的是inflow） 2. to boost vt. 增加 = to increase 3. instrument n. 本文中当“工具”讲=tool 4. quarter n. 一个季度= of a year 5. sustained a. 持久的，持续的= continuous 6. contraction n. 收缩,Notes,II. Useful and Idiomatic Expressions 1. to lead to. 导致= to r
3、esult in 2. the first and foremost首要的（当副词用时，不加the） 3. to receive sth. from. 从获得 4. to conflict with. 与发生冲突 5. be consistent with. 与相一致 6. to take on greater importance变得更加重要,Notes,III. Key Terms 1. GDP (gross domestic product) 国内生产总值 2. GNP (gross national product) 国民生产总值 3. easy or expansionary mon
4、etary policy宽松的或扩张性货币政策 4. tight monetary policy紧缩的货币政策 5. full employment充分就业 6. open market operations公开市场业务（操作） 7. discount policy贴现政策 8. reserve requirements法定存款准备金规定,Main Text,Definition According to Oxford Dictionary of Finance and Banking, monetary policy is defined as a means by which govern
5、ments try to affect macroeconomic conditions by increasing or decreasing the supply of money. And some other economists also define it as the attempt to control the economy by changing the quantity of money in circulation and adjusting interest rates.,Main Text,Classes of Monetary Policies Easy or e
6、xpansionary monetary policy. A countrys monetary policy will be an easy or expansionary if the money supply is increased by lowering interest rates. This type of monetary policy can boost the level of investment and income in the nation, but it can also lead to inflation and short-term capital outfl
7、ow. Tight monetary policy It refers to a reduction in the nations money supply and a rise in interest rates. Tight monetary policy discourages investment and tends to lower income and imports. In addition, tight monetary policy can lead to a short-term capital inflow.,Main Text,Targets or Objectives
8、 of Monetary Policy 1. Economic Growth 2. Price Stability 3. Full Employment or High Employment 4. Balance of Payments Equilibrium 5. Interest Rate Stability 6. Stability of Financial Markets 7. Stability in Foreign Exchange Markets,Main Text,U.S. Monetary Policy Tools Open market operations Discoun
9、t policy Reserve requirements,1. What is monetary policy? 2. How many types of monetary policy do you know? 3. What goals are established for monetary policy to achieve? 4. Tell briefly the tools used by the Fed to carry out American monetary policy?,Questions for Chapter 3,This is the end of Chapter 3,Thank you for your attention,