第1页 / 共400页
第2页 / 共400页
第3页 / 共400页
第4页 / 共400页
第5页 / 共400页
第6页 / 共400页
第7页 / 共400页
第8页 / 共400页
金融英语电子教材.doc
金融英语电子讲义
Unit1 Money
Figures
What is Money ?
What does money do?
Different Types of Money
Financial System and Financial Market
Unit 2 Central BankⅠ
Central Bank
the Function of Central Bank
the History of Bank
the Brief Introduction of Monetary Policy in Chine
Unit 3 Central BankⅡ
Tools of Monetary Policy: the Open Market Operatio
the Advantages of the Open Market Operation
Tools of Monetary Policy: Reserved Requirement
the People's Bank of China
Tools of Monetary Policy: Discount Policy
Unit 4 Commercial BankⅠ
Commercial Banks in the USA
Unit5 Commercial BankⅡ
Off-Balance Sheet Activities
Loan Commitment
the Usage of Loan Commitment
Unit6 Investment Banking
The practice of Investment Banking投资银行实务
a Piece of News of Investment Banks
Types of Banks Exercise
Unit7 Financial Derivatives
Financial Engineering
The Financial Engineer and Risk Management
The Social Role of Financial Derivatives
Unit 8 Financial Innovation and Derivative Market
Background:背景介绍
Categorizations of Financial Innovation
Motivation for Financial Innovation
Effect and Risk of Financial Innovation
Unit 9 Option
Definition of Option 期权合同定义
Margin Requirements
Exchange-Traded versus OTC（ over-the-counter） Opti
Differences between Options and Futures Contracts
Risk and Return Characteristics of Options
Unit10 Futures and Swap
Background
How does Futures Market Work?
Financial Futures Contract
Interest rate Futures
The Essential Concept of Hedging
Factors to Influence the Bases
Category of Futures
Swap Deals
Interest Rate Swap
Unit11 Securities
Asset Securitization in the USA
Mortgage Backed Securities
Mortgage Obligation
Credit Enhancement
Credit Rating Agencies
Asset Backed Securities
Repacking Operation
Securitization of Non-performing Asset
Concluding Remarks
Unit 12 Financial Markets
Function of Financial Markets
Structure of Financial Markets
Debt and Equity Markets
Primary and Second Markets
Exchanges and Over-the-Counter Markets交易所和场外市场
Money and Capital Markets
Globalization of Financial Markets 金融全球化
Classification of Global Financial Markets
Introduction to the International Bond Markets国际债券
Features of Eurobonds
Unit13 Foreign Exchange Market
the Definition of Foreign Exchange
Price Fluctuation
Government Control
the Basics of Foreign Exchang Market
How does the Foreign Exchang Market Operate?
Unit14 Stock Market
the Processes of Investing Money in the Stock Mark
the American Stock Market
Exercises of Stock Market 1
Exercises of Stock Market 2
Types of Shares Exercises
Market Price Idiom Exercises
"Rise,Arise,Raise"Exercises
Unit15 Exchange Rate Determination
Law of One Price
the Theory of Purchasing Power Parity
the Factors to Affect the Exchange Rate in the Lon
Currency Exchange
Unit16 Risk Management
Principles of Credit Risk Management 1
Principles of Credit Risk Manangement 2
Managing Credit Risk 1
Managing Credit Risk 2
Unit17 Money Management Business
Money Management
Types of Money Management Operation
Operation of Mutual Fund in America
the Purchase Methods of Mutual Fund
Prospectus Requirement
Distribution of Mutual Fund
Redemption of Mutual Fund
Performance of Mutual Fund
Financial Instrument Exercises 1
Financial Instrument Exercises 2
Financial Ratios
Financial Ratios Exercises
Current Asset and Current Liability
Unit 18 Mergers and Acquisitions兼并与收购
Background
Different Forms of Mergers
How Investment bankers participate in M&A
a Case of Leverage Acquisition
Unit 19 The world bank
Importance to Business
Hard Loans Made by the World Bank
Business Opportunities and Information Sources
International Finance Corporation(IFC)
Joint ventures favored.
Creation of local capital markets.
Liaison with development finance companies.
International Development Association (IDA)
IDA capital sources.
a Piece of News about New Oriental School
the Brief History of Financial Management Field
The Primary Goal: Maximizing Shareholder Wealth
Agency Problems
Stockholders and Managers
Stockholders and Creditors
Maximization of Shareholder Wealth: Managerial Str
Maximization of Shareholder Wealth:
Determinants of Long Value
Managerial Actions to Influence Value
Organization of the Financial Management Function
The Cash Flow Concept
1. After-tax operating cash flow
2. Free cash flow自由现金流量
Cash Flows and Shareholder Wealth
Determining the Net Present Value of an Investment
the Relationship between the Net Present Value and
Risk and the NPV Rule 风险和净现值原则
The Relationship Between Risk and Return
the Definition of Holding Period Returns
1． Holding Period Returns持有期报酬率
the Definition of Risk
Expected Returns and Required Returns 期望报酬率和要求报酬率
Risk and Required Return 风险和要求报酬率
The Risk-free Rate of Return 无风险要求报酬率
The Maturity Risk Premium
The Default Risk Premium
The Seniority Risk Premium
Business and Financial Risk Premiums
Systematic Versus Unsystematic Risk
The Marketablity Risk Premium 变现风险溢酬
Capital Market Efficiency
Information and Capital Market Efficiency
Degrees of Market Efficiency市场效率程度
Weak-form Efficiency
Semistrong- form Efficiency
Strong-form Efficiency
Implications of Market Efficiency for Financial Ma
Timing or Gambling时机与赌博
Security Investments Have an NPV of Zero
Corporate Diversification is Expensive and Unneces
Capital Markets Rarely are Fooled
Security Prices tell a Story
International Issues: Market Efficiency outside of
Unit21 Financial Articles Published in Newspapers
Is Price Stability Enough? 1
Is Price Stability Enough? 2
Blue Chip Blues 1
Blue Chip Blues 2
Blue Chip Blues 3
Blue Chip Blues 4
Blue Chip Blues 5
新东方在线 [www.koolearn.com] 网络课堂电子教材系列
金融英语
金融英语电子讲义
主讲：李勤习
欢迎使用新东方在线电子教材
新东方在线 [www.koolearn.com] 网络课堂电子教材系列
金融英语
Unit1 Money
Figures
American oil billionaire J. Paul Getty has a very famous saying, that is “ If you can actually count your
money, then you are not really a rich man.” 美国的银行业大亨 J. Paul Getty 曾经说过一句话：如果
你的钱是可以数得清楚的，那么你就不是一个真正的富人。Well, the sentence is interesting, but
actually we must know how to count the money before we get rich, especially in English. So, in today’s
class, we would first learn to say English numbers.
Most people working in finance, whether it is in accountancy, banking, broking, investment, insurance,
or whatever, spend a lot of time dealing with numbers.
I. Let’s talk about the different ways to say 0 in English. Usually, we have the following 5 ways to
say 0 in English. They are: OH, ZERO, LOVE, NOUGHT, NIL!
We say oh
after a decimal point
in telephone numbers
in bus numbers
in hotel room numbers
in years
We say nought
6.03
84 08 32 13
No. 708
Room 308
1905
six point oh three
eight four oh eight three two one three
get the seven oh eight
I'm in room three oh eight.
nineteen oh five
before the decimal point
0.201
nought point two oh one
We say zero
for the number
for temperature
We say nil
in football scores
We say love
in tennis
0
-5~C
5-0
15- 0
the number zero
five degrees below zero
Spain won five nil.
The score is fifteen love.
Now say the following:
1. The exact figure is 0.002.
before the decimal point, read nought;
after a decimal point, read oh.
a)
b)
Nought point oh oh two.
2. Can you get back to me on 010 – 5175 – 0123 ? I'll be here all morning.
in telephone numbers, say oh.
Oh one oh five one seven five oh one two three
3. Can you put that on my bill? I'm in room 804.
in hotel room numbers, say oh. Eight oh four
4. The temperature in north-east China is very low in winter. Usually, it's 20 degrees below 0!
新东方在线 [www.koolearn.com] 网络课堂电子教材系列
金融英语
for temperature, say zero.
5. Basically, tennis scoring proceeds from 0 to 15 to 30 to 40 to game.
love（0）, fifteen（15）, thirty（30）, forty（40）, game（胜局）。
6. The result of the game was 3 – 0
three-nil
II. THE DECIMAL POINT
In English, we use a point (.) and not a comma (,) for decimals. 在英语当中，小数点都是写为一
个点，而不是逗号。We use commas in figures only when writing thousands. 我们在表达数字
千的时候呢，用逗号来隔开。
10,002 is ten thousand and two.
10.003 is ten point oh oh three
twenty point six six
nought point two four three
nought point oh oh five
In English all the numbers after a decimal point are read separately. For example:
20.66
0.243
0.005
You will also bear people say:
0.05
But if the number after the decimal point is a unit of money, it is read like a normal number:
￡12.50
Not twenty point sixty six
twelve pounds fifty
€5.95
five Euros ninety five
zero point oh five
or oh point oh five
NB. This is very important. When you do business on the phone, say nought point three seven
five (0.375) and not nought point three hundred and seventy five. If the listener missed the word
point, you might lose a lot of money. So, say the digits separately after the point.
Now say the following:
1. It's somewhere between 3.488 and 3.491.
2. Look, it's less than 0.0001! It's hardly worth worrying about.
3. I changed all those yen into sterling and I only got ￡13.60!
Yen is the standard unit of money in Japan,
Sterling is the standard unit of money in the United Kingdom,
(yen 是日本的货币单位，sterling 是英国的标准货币单位)
4. That's about 14.50 in Swiss francs. （瑞士法郎）
5. Did you say 0.225 or 0.229?
6. The dollar is at 1.95. （one point nighty five）
7. No, I meant 15.005 not 15,005.
Say: No, I meant fifteen point oh oh 5, not fifteen thousand and five
III. PER CENT
The stress is on the cent of per cent
Notice the following when talking about interest rates: (利率)
0.5%
0.25%
For example:
a half of one per cent
a quarter of a percentage point
ten perCENT
新东方在线 [www.koolearn.com] 网络课堂电子教材系列
金融英语
The Bank of England raised interest rates this morning by a quarter of a percentage point.
Now say the following:
1. What's 20% of 360?
2. They have put the interest rate up by another 0.5%. (a half of one per cent)
3.
0.75% won't make a lot of difference.
IV. HUNDREDS, THOUSANDS, AND MILLIONS
In British English you hear
In American English you usually hear
a hundred and twenty three.
a hundred twenty three.
So, there are some small differences between British English and American English.
The number 1,999 is said
The year 1999 is said
The year 2000 is said
The year 2001 is said
The year 2015 is said
one thousand nine hundred and ninety nine.
nineteen ninety nine.
the year two thousand.
two thousand and one.
two thousand and fifteen or twenty fifteen.
Note: It is likely that: different people will refer to the early years of the 21 century in different
ways.
Remember that the year 1999 is always referred to as nineteen ninety nine - not one thousand and
nine hundred and ninety nine.
Now, please read the following numbers:
1,000,000
1,000,000,000
is a million or ten to the power six: (106)
is a billion or ten. to the power nine: (109)
Now let’s look at the following numbers:
11，234 is said：
eleven thousand two hundred(and)，thirty—four
155,721 is said：
one hundred(and)fifty-five thousand seven hundred(and)twenty-one
6，155，702 is said：
six million one hundred(and)fifty-five thousand seven hundred and two
26，000，008 is said：
twenty-six million and eight
326，414，718 is said：
three hundred(and)twenty-six million ， four hundred(and)fourteen thousand,
seven
hundred(and)eighteen
4，302，000，000 is said：
four billion three hundred(and)two million
From the above figures, we can see that from right to left, there is a coma every three figures, the
function of the coma is very important. It can help us read and remember the numbers.由以上一
新东方在线 [www.koolearn.com] 网络课堂电子教材系列
金融英语
组数字可以看出，多位数由右向左每 3 位有一逗号，这个逗号的作用非同小可，在记忆数字
时，它可以帮我们很大的忙!
From right to left, the first coma is said thousand 逆向第一个逗号读 thousand；the second coma is
said: million, 第二个逗号读 million；the third coma is said: billion, 第三个逗号读 billion；第
四个逗号就是 trillion。这几个逗号的作用在于，当我们听到若干 thousand 时，立即写下这
个数，并在其后打一个逗号，并留出 3 位；当听到若干 million，则写下数字，并在其后打
一逗号，留出 6 位；听到若干 billion，方法同上，在后面留出 9 位，后面的 million、thousand
依此法类推，让所有数字各就其位。
例如，当你听到“twenty thousand and four\'’写出 20，“and four”意为后一组仅有个位，即：004，
那么，这个数字完整地写下来就是 20，004；若听到“six million twenty thousand four hundred
and twenty—three，”则第一步先写：6，020，再将最后一组 423 写在第一个逗号后面。完整
的翠字为 6，020，423。若听到“One billion，one hundred and four million，twenty thousand four
hundred and twenty-three”：主第一步写出 1，104，第二步接下去写第三组 020，第三步写 423，
这样得到的完整数字便是 1，104，020，423，由此：见这个三位一逗号的作用有多大。只
要我们在平时的训练中加强对三位数读写的训练，能分辨“ty”与“teen\'’，并能借助这个不可
缺少的“逗号”，so, in this way no matter how big the number is , we can understand and read it
without any problems. 无论数字多么大，也不会对我们造成障碍。
Now, let’s have a brief review of what we learned just now, please say the following sentences:
1. Why do you say 175 in Britain? In the States we usually say 175.
2.
One hundred and seventy five, one hundred seventy five
It's got 1001 different uses.
One thousand and one
3. Profits will have doubled by the year 2000.
Two thousand 在 2000 年时，利润会翻一翻
4. Thanks. You're one in 1,000,000!
5. No, that's 2,000,000,000 not 2,000,000!
V. SQUARES, CUBES, AND ROOTS
102
103
is ten squared.
is ten cubed.
6 is the square root of 6.
VI. TELEPHONE AND FAX NUMBERS
We usually give telephone and fax numbers as individual digits: 读电话号码时，每个数字一一读出。
When two numbers are same, English people usually read as “double – x” 英国人在读两个相同数
字时，通常读成“double – x”
01273 736344
344
44 26 77
oh one two seven three, seven three six, three four four
can also be said as three double four
double four, two six, double seven
新东方在线 [www.koolearn.com] 网络课堂电子教材系列
金融英语
777
can be said as seven double seven, or seven seven seven
VII.
FRACTIONS
分数中分子用基数词表示，分母用序数词表示。先读分子，后读分母。当分子大于 1 时，分母要加“s”。例
如
1/2 is said ：a／one half (口语中更倾向于用“a”代替“one”)
1/3 is said：a／one third
1/8 is said：an／one eighth
1/4 is said：a／one quarter(fourth)
2/3 is said：two thirds
51
9
Now read the following news item:
is said one and five ninths
In an opinion poll published today, over 3/4 of the electorate say they intend to vote in next
month's referendum. 1/4 of voters say they will definitely vote Yes, while 1/3 will vote No. But
that leaves over 2/5 of the voters who haven't made up their minds. Both sides remain hopeful. A
spokesman for the 'Yes' campaign said, "At the moment, 2/3 of the electorate won’t vote No." A
spokeswoman for the other side replied, "That's true, but 3/4 won't vote Yes!"
在今天发布的一个名义调查显示有超过 3/4 的选民，（electorate 意思是一个国家的全体
选民），表示将在下个月参加全民投票。1/4 的选民表示他们将投赞成票，1/3 的选民表示
他们要投反对票，但是还有超过 2/5 的选民没有表态。双方依然都有盛出的可能。“赞成”
阵营的一个发言人说：“目前，有 2/3 的选民没有投反对”，而“反对”阵营的一个女发言人
说：“对，但是有 3/4 的选民没有投赞成”
VIII. CALCULATING
Remember to pronounce the s in equals as /z/. It is singular; the part on the left equals the part on
the right.
10 + 4 = 14
ten plus four is fourteen
ten and four equals fourteen
ten minus four is six
ten take away four equals six
ten times four is (or equals) forty
ten multiplied by four is forty
ten divided by four is two and a half
10 - 4 = 6
10×4 = 40
10÷4 =
12
2
IX. FOREIGN CURRENCY
Notice these ways of speaking about exchange rates:
How many yen per dollar did you get?
How many RMB are there to the dollar?
The current rate is about 1.6 Euros to the pound.
X. NUMBERS AS ADJECTIVES
新东方在线 [www.koolearn.com] 网络课堂电子教材系列
金融英语
When a number is used before a noun - like an adjective - it is always singular. We say:
not a fifty-minutes English news
a fifty-minute English news
Here are more examples:
a sixteen-week semester
a fifteen-minute talk
a twenty-pound reduction
a six billion dollar loan
Say the following in a similar way:
1. They lent us ~250,000.
2. Our house is 200 years old.
3. We lost $50,000.
4. The salmon weighed 15 pounds!
a thirty-five pound book
a six-week travel plan
a two and a half liter bottle
They gave us a two hundred fifty thousand - pound loan.
We bought a 200- year-old house.
We made a fifty thousand – dollar lose
I caught a fifteen pound salmon
XI. REVIEW
How many of the following can you say aloud in under 1 minute?
1. 234, 567
2. 1,234,567,890
3. 1.234
4. 0.00234%
5. 3.14159
6. $19.50
7. £7.95
8. 19, 999
9. 1, 999 years
10. In 1999
11. I think the phone number is 01227-764000.
12. Have you got a pen? Their fax number is: 00 33 567 32 49.
13. He was born in 1905 and died in 1987.
14. 30 x 25 = 750
15. 30÷25 = 1.20
16. x2+y3=z
What is Money ?
As the word money is used in everyday conversation, it can mean many things, but to economists
it has a very specific meaning. To avoid confusion, we must clarify how economists' use of the
word money differs from conventional usage.
Economists define money as anything that is generally accepted in payment for goods or services
or in the repayment of debts.
Currency, consisting of dollar bills and coins, is one type of money. When most people talk about
money, they' re talking about currency. However, to define money merely as currency is much too
新东方在线 [www.koolearn.com] 网络课堂电子教材系列
金融英语
narrow for economists. 汉语
Because checks are also accepted as payment for purchases, checking account deposits are
considered money as well. An even broader definition of money is often needed. As you can see,
there is no single, precise definition of money or the money supply, even for economists. 汉语
To complicate matters further, the word money is frequently used synonymously with wealth.
When people say, "Joe is rich—he has an awful lot of money," they probably mean that Joe not
only has a lot of currency and a high balance in his checking account but also has stocks, bonds,
four cars, three houses, and a yacht. 汉语
Balance: the amount of money in an account at a particular time； 帐户存款的余额
For example: Could you tell me what my balance is please? 你能告诉我的帐户余额吗？
Economists make a distinction between money and wealth. Wealth includes not only money but
also other assets such as bonds, common stock, art, land, furniture, cars, and houses.
People also use the word money to describe what economists call income, as in the sentence
"Susan would be a wonderful catch; she has a good job and earns a lot of money."
Income is a flow of earnings per unit of time. Money, by contrast, is a stock: It is a certain
amount at a given point in time. 收入是某一单位时间内收益的流量， 而货币是一个存量，
即某一时间点上一个特定的金额。
If someone tells you that he has an income of $1 000, you can not tell whether he earned a lot or a
little without knowing whether this $1 000 is earned per year, per month, or even per day. But if
someone tells you that she has $1 000 in her pocket, you know exactly how much this is.
Keep in mind that the money discussed refers to anything that is generally accepted in payment
for goods and services or in the repayment of debts and is distinct from income and wealth.
必须牢牢记住：我们所说的货币是在支付商品和劳务货款或在偿还债务时被普遍接受的任何
东西，他与收入和财富是有区别的。
What does money do?
In this section, we will talk about the Functions of Money.
Whether money is shells or rocks or gold or paper, it has three primary functions in any economy:
as a medium of exchange(交易媒介), a unit of account（计算单位）, and a store of value（价值
的 储 藏 ）. Of the three functions, its function as a medium of exchange is what distinguishes
money from other assets such as stocks, bonds, and houses.
相关推荐
2023年江西萍乡中考道德与法治真题及答案.doc
2012年重庆南川中考生物真题及答案.doc
2013年江西师范大学地理学综合及文艺理论基础考研真题.doc
2020年四川甘孜小升初语文真题及答案I卷.doc
2020年注册岩土工程师专业基础考试真题及答案.doc
2023-2024学年福建省厦门市九年级上学期数学月考试题及答案.doc
2021-2022学年辽宁省沈阳市大东区九年级上学期语文期末试题及答案.doc
2022-2023学年北京东城区初三第一学期物理期末试卷及答案.doc
2018上半年江西教师资格初中地理学科知识与教学能力真题及答案.doc
2012年河北国家公务员申论考试真题及答案-省级.doc
2020-2021学年江苏省扬州市江都区邵樊片九年级上学期数学第一次质量检测试题及答案.doc
2022下半年黑龙江教师资格证中学综合素质真题及答案.doc
