經(jīng)濟(jì)學(xué)專業(yè)英語教程（第四版-上）課件：Money and Banking

《經(jīng)濟(jì)學(xué)專業(yè)英語教程（第四版·上）》

Text:MoneyandBanking

（貨幣與銀行）1.Keywords2.Whatismoney?3.Thefunctionsofmoney4.Characteristicsofmoney5.Banksandbankdeposits6.Banklendingandcreationofcredit7.Bankdepositsandsavings8.TranslatethefollowingintoChinese9.Questions1.KeywordsnotesandcoinsBarteredgoodsmediumofexchangestoreofvalueliquidassethirepurchasecreditcardpaythebillbusinesstransactiondeferredpaymentpapermoneycommercialbankingidledepositsmakeloansmakepaymentredeemablenoteschequeaccountinterest-bearingdepositssavingsaccountbookentries2.Whatismoney?Moneycanbeanythingwhichiscommonlyofferedorreceivedforthesaleofgoodsortopayforservices.Moneycanbeanygoodorassetwhichisreadilyacceptableinacommunityinexchangeforgoodsandservices.3.Thefunctionsofmoney3.1Mediumofexchange3.2Storeofvalue3.3Measureofvalue3.4Standardofdeferredpayment3.1MediumofexchangeMoneyallowspeopletoavoidtheproblemofthebartersystembyremovingtheneedfortwopeopletofindeachotherwhenbothwanttoexchangetheirgoodsforthoseoftheother.3.2StoreofvalueMoneycanbestoredandspentlateron.Ifpricesremainstable,moneyisagoodstoreofvaluebecauseitisaliquidasset;thatis,itcanbeusedimmediatelyifneeded.3.3MeasureofvalueMoneyisaconvenientwaytomeasurethevalueofgoods.Ifeverythinghasaprice,peoplecancomparethepriceofonegoodwithanother,andreadilymakechoicesonwhichtheywanttobuy.3.4StandardofdeferredpaymentDeferredpaymentmeansthatpaymentistobemadeatalaterdate,orbyinstallmentsoveraperiodoftime.Ifpricesremainstable,moneyasameansofdeferredpaymentworkswell.4.Characteristicsofmoney4.1Divisibility4.2Portability4.3Durability4.4Acceptability4.1DivisibilityManygoodsusedforbartercannoteasilybedividedintosmallunits.Moneyincoinorpaperformcomesinanumberofdenominationsofvaryingvalue,andcanbeusedtobuylargeexpensiveitemsaseasilyassmallonescostingonlyafewcents.4.2PortabilityAnothernecessarycharacteristicofmoneyistheeasewithwhichitcanbecarriedabout,readyforuse.4.3DurabilityIfmoneyistobeusedeffectivelyasastoreofvalueitmustnotdeterioratephysicallythroughuseovertime.Goldandothermetalswereoriginallytheobviouschoiceforsuchpurposesastheydonotperishordeterioratewiththepassingoftime.Papermoneywhenhandledfrequentlybecomestornanddirty,butitisperiodicallyrecalledandreplaced.4.4AcceptabilityFormoneytofunctionasameansofexchangeitmustbeinaformwhichisacceptedbythecommunityconcerned.Whateverformittakes,peoplemustbewillingtoexchangeitforgoodsandservices;theymusthaveconfidenceinitandconsiderittohaveavalue.Tobeacceptable,moneymustalsobecontrolledbyacentralbodywhichrestrictsitssupplyandmanufacturesitinaformthatisdifficulttocounterfeitorcopy.5.BanksandbankdepositsThehistoryofcommercialbankingisbelievedtohavebeguninItaly.Originally,banksactedassafedepositsorcaretakersforpeople’swealth.Aswellastakingmoneyfromadepositor’saccounttopaytooneofhiscreditors,thebankcouldalsousetheidledepositstomakeloanstoitsownclients,subjecttothepaymentofinterest.Theoriginaldepositwasstillheldtothecreditoftheowner,butaloanwasmadefromit.Theloanwouldeventuallyfinditswaybacktothebank,thusmakingaseconddeposit.Theseconddepositcouldnowbeusedinthesameway.Thebankshadthereforecreatedmoney.6.BanklendingandcreationofcreditAsthebankingsystemdeveloped,loansweremadefromadepositwhichhadbeenmadeinhardcash,andtheloansresultedinnewnotesornewdeposits.Thisledtoagreatexpansionofcommerce.Thewholeessenceofmoneycreationrestedontheassumptionthatdepositorsandnoteholderswouldnotallcometothebankatonce,butonlyinsmallnumbers,allowingthebanktimetopay.Ifallcameatonce,thebankcouldnotpayandthiswouldcauseabanktofail.7.BankdepositsandsavingsChequeaccountsarecalledcurrentaccounts.Nointerestispaidontheseaccounts,andthedepositorspayfeestothebankforoperatingtheiraccounts.Abankdepositisasumofmoneywhichthebankowestothepersondepositingit.Itisnothingtangible,justanentryinthebank’sbookstosaythatthebankowesthatsumtothatperson.Chequesareaninstructiontothebankertopay,outoftheaccountofthepersonorbusinesssigningthecheque,theamountspecifiedtotherecipientspecified.8.TranslatethefollowingintoChinese(1)Whenwereceivepaymentforworkingwehaveexchangedourservicesformoney.Moneyallowspeopletoavoidtheproblemofthebartersystembyremovingtheneedfortwopeopletofindeachotherwhenbothwanttoexchangetheirgoodsforthoseoftheother.(2)Deferredpaymentmeansthatpaymentistobemadeatalaterdate,orbyinstallmentsoveraperiodoftime.(3)Insomecountries,intimesofcalamitysuchasfamineorinvasion,orofeconomicdisastersuchasacuteinflation,moneyhasbeenlessacceptabletopeoplethanfoodorsomeotheritemwithma