编制人：国民经济2010届 JianCheng     发稿人：国民经济学2010届 VIVIJOE

 时间：2011年12月1日

 

1.       The federal reserve establishes and implements the monetary policy for the nation, provides a variety of financial services and is responsible for the supervision of banks and bank-holding companies.

 

2.       The Fed plays a vital role in the nation’s payments system, that is, transferring funds or payments from one bank to another. The transfer of the value from one bank’s account to the other bank’s account is called settlement. Because of this role, the Fed is often referred to as the banker’s bank.

 

3.       Commercial bank is a financial institution which accepts deposits, make business loans, and offers related services.

 

4.       Commercial banks are entitled to the power to make loans that, at least in part, eventually become new demand deposits. As a group, then, commercial banks are able to expand or contract the money supply by creating new demand deposit.

 

5.       The Bretton Woods Conference was convened in 1944 to find ways to avoid the disastrous international economic difficulties of the post World War 2 era. It established the International Bank for Reconstruction and Development (IBRD), commonly called World Bank. This organization, headquartered in Washington, D.C., is owned by the governments of 181 countries.

 

6.       An important feature of the World Bank is the training its technical staff offers to member countries in analyzing these long-term projects. The World Bank loans are expected to generate economic development, which eventually provides the source for repayment.

 

7.       Interest is the price that someone pays for the temporary use of someone else’s funds. It’s the compensation that someone receives for temporarily giving up the ability to spend money.

 

8.       Low interest rates make it easier for people to borrow in order to buy cars and homes. Purchases of homes, in turn, increase the demand for other items, such as furniture and appliances, thus providing an additional boost to the economy.

 

9.       Governments introduced a par value (average price) of their own local currencies in gold. Thus, the currencies were related to one another through a system called the gold standard. The gold standard system determined the value of all currencies based on gold. This meant the values of different currencies could be compared in terms of one another.

 

10.   Spot transaction: when a French father transfers money to his son in New York, a typical spot transaction occurs. The French father buys the dollars spot—for immediate delivery.

Forward transaction: the delivery of a currency is specified to take place at a future date. Japanese exporters of Toyota cars to the United States know from their sales contracts that they will receive a specified US dollar amount in six months. In order to protect themselves against rising and falling exchange sales, they can sell the dollars forward six months to their bank in Japan in return for yen. Payment and delivery are not required until six months later. The rate of exchange is fixed, however, on the date of the contact.

 

11.   Risk 1: the risk that you might lose some of your money regardless of what you do with it.

      Risk 2: the risk that the money you save today may not buy as much at some future time if prices of food and clothing and almost everything else continue to grow. That is the risk of inflation.

 

12.   Although the investments such as deposits in banks and life insurance are virtually 100% safe, they can not protect you against the unseen risk of inflation. As for investment in gold or silver, all invest metals are very expensive to store and earn no dividends at all to help pay for their keep. And they are difficult to sell in times of down market.

      People tend to buy stocks and bonds because over the years, the record shows that the average stock has paid a better return and provided a better balance of protection against the evident and unseen financial risk than any other form of investment.

 

13.   NYSE evolved from a meeting where 24 brokers and merchants signed the historic “Buttonwood Agreement” to trade a handful of securities on what is now Wall Street in New York City in 1792. It was formally constituted as the New York Stock and Exchange Board in 1817. The present name was adopted in 1863.

 

14.   Insurance is a cover used for protecting oneself from the risk of a financial loss. Throughout the living existence, everyone is faced by numerous risks such as filing health, financial losses, accidents and even fatalities. Insurance addresses all these uncertainties on financial terms.

 

15.   The purpose of insurance is to give individuals peace of mind. Insurance protects people from risks and guarantees that once they accumulate assets, they will be able to keep them.

 

16.   Insurer: the insurer is the insurance company who will provide the cover to the insured against any financial losses.

Insured: the insured may be an individual person or a group of people like an employer, member of a society, etc.

 

17.   International Monetary Fund, resembling a bank, was established to lend money to governments to help them overcome temporary deficits in their balances of international payments

 

18.   People make their own decisions about whether or not to spend for other things. But they have no choice when it comes to paying taxes. A tax is a compulsory payment for government services. Everyone required to pay a tax and must pay it.

 

19.   Value-added tax is a national sales tax levied at each stage of production or at the sale of consumer goods. The tax is assessed in proportion t the value added during that stage.

 

20.   Some countries have a zero corporate tax rate for the first few years of a new subsidiary’s existence. This is called tax holiday.

 

21.   Accounting, often called the language of business, is the process of recording, classifying, reporting and analyzing financial data.

 

22.   Accounting information needs to be identified and measured. Using a system od debits and credits, called double-entry accounting, accountants use a general ledger to track money as it flows in and out of a business. They record each financial transaction on a balance sheet, which provides a snapshot of a business’ financial condition.

 

23.   The purpose of financial accounting statements is mainly to show the financial position of a business at a particular point in time and to show how that business has performed over a specified period.

 

24.   The most important and decisive factors are financial considerations: what is the expected return on an investment? What are the sources of working capital? What are interest rates? What is the cash flow projection?

Local rules and legislation is another factor that must be studied before an investment is made.

Investment incentives are still another consideration. These incentives are usually related with money, such as cash grants, lower taxes, training funds and etc.

 

25.   People around the globe are more connected to each other than ever before. Information and money flow more quickly than ever, goods and services produced in one part of the world are increasingly available in all parts of the world. International travel is more frequent. International communication is commonplace. This phenomenon has been titled globalization.

 

26.   Globalization is not new. For thousands of years, people, and corporations later, have been buying from and selling to each other in lands at great distance. Likewise, for centuries, people and corporations have invested in enterprises in other countries.

 

27.   Policy and technological developments of the past few decades have spurred increases in cross-border trade, investment, and migration.

The current wave of globalization has been driven by policies that have opened economies domestically and internationally.

Technology has been the other principal driver of globalization. Advances in information technology, in particular, have dramatically transformed economic life.

 

28.   The globalization allows poor countries and their citizens to develop economically and raise their standards of living and it helps them catch up to industrialized nations much faster through increased employment and technological advances.

 

29.   When a corporation expands its activities across its borders and engages in international trade, it could be on the way to becoming a multinational corporation. A MNC has industrial and commercial organizations in foreign countries. Manufacturing plants are established abroad, in conjunction with supporting marketing systems.

 

30.

 

 

31.   The aims and purposes of ASEAN are to accelerate economic growth, social progress and culture development in the region and to promote regional peace and stability through abiding respect for justice and the rule of law in the relationship among countries in the region and adherence to the principles of the UN Charter.

 

32.   简述欧盟成立过程  

 

33.   In the EU, free movement of workers, goods, and services is the norm.

The single currency has become reality. The euro coins and notes replaced national currencies in countries of the Union.

No individual EU country is strong enough to go it alone in world trade. The European Union single market provides companies with a vital platform for competing effectively on world market.

In sum, in economic, trade and monetary terms, the EU has become a major world power.

 

34.   NAFTA(The North American Free Trade Agreement) is an agreement between Canada, USA and United States of Mexico in hopes of increasing trade by reducing trade restrictions.

 

35.   The EU, like NAFTA, is an economic union that fosters greater trade and cooperation between a large handful of the countries of Europe. However, EU members have a common currency, while NAFTA members do not. Also, the EU has political element and its own government, neither of which NAFTA has.

 

36.   Sole proprietorships   partnerships    corporation

 

37.   举例说明

38.   Keys to success for new small businesses:

Energy and Resilience: every successful small-business entrepreneur has a high level of energy. Coupled with a high level of energy is resilience----the ability to bounce back from apparent defeat to fight again another day.

Innovative Marketing:

Knowledge of Your Market:

Solid Financial Planning:

Staying Close to Your Customer:

Embracing Technology:

 

39.   In a merger, both parties hope to benefit from the greater efficiency and competitive strength found in the combined company. Strategies are altered and as a result product lines are broaden, strengthened, or refocused; management systems and personnel are changed; and levels and growth rates of profits are shifted.

An acquisition usually refers to the purchase of the assets of a company.

 

40.   In a hostile acquisition, the acquiring, or bidder, company makes an offer to purchase the acquired or target company, but the management of the target company resist the offer.

In a friendly acquisition, the management of both companies comes to an agreement over the terms of the acquisition.

 

41.   Problems inevitably occur when two companies combine. More than half of all mergers and acquisitions fail or do not achieve the desired results. So a company can achieve internal expansion through investment in projects generated within the company itself.

 

42.   Management focuses on the entire organization from both a short and a long-term perspective. It is the managerial process of forming a strategic vision, setting objectives, crafting a strategy and then implementing and executing the strategy.

 

43.   The Industrial Organization Approach. This approach is based on economic theory which deals with issues like competitive rivalry, resource allocation and economies of sales.

The Sociological Approach. This approach deals primarily with human interactions. It assumes rationality, satisfying behavior and profit sub-optimality.

 

44.   Bottom-up

Top-down

 

45.   Leadership is a process by which a person influences others to accomplish an objective and directs the organization in a way that makes it more cohesive and coherent.

Leaders carry out this process by applying their leadership attributes, such as beliefs, values, ethics, character, knowledge, and skill.

Leadership means responsibility.

Leadership is not a god-send gift and good leaders are made not born

Leadership does take skill.