PART Ⅰ Monetary System and Monetary Theory 1
UNIT 1 1
Money 1
[Reading Material] History of Money 9
UNIT 2 14
The Gold Standard 14
[Reading Material]The Gold Standard and the Internal*External Situations 23
UNIT 3 28
The Bretton Woods System 28
[Reading Material] International Monetary Reserves in the Bretton Woods System 36
Money Supply 41
UNIT 4 41
[Reading Material] The Collapse: 1929—1933 48
UNIT 5 55
Keynesianism 55
[Reading Material] The Keynesian Revolution 61
UNIT 6 68
Monetarism 68
[Reading Material] Friedman s View of the Demand for Money 74
UNIT 7 79
The Problem of Inflation 79
[Reading Material] Government Actions to Deal with Inflation 86
UNIT 8 92
Discount Market, Treasury Bills Market and Federal Agency Securities 92
PART Ⅱ Financial Markets and Financial Instrument 92
[Reading Material] The Sterling Secondary Market 103
UNIT 9 108
Commercial Paper and Bankers Acceptance 108
[Reading Material] Innovation in Money Market Instruments (1) 122
UNIT 10 127
CD and Eurodollar 127
[Reading Material] Innovation in Money Market Instruments (2) 139
UNIT 11 143
Business Borrowing 143
[Reading Material] New Types of Corporate Notes and Bonds 153
the Residential Mortgage Market 158
UNIT 12 158
[Reading Material] Government Activity in the Mortgage Market 166
UNIT 13 170
Stock Market 170
[Reading Material 1] The Major Organized Exchanges 179
UNIT 14 184
The Foreign Exchange Market 184
[Reading Material] Direct Versus Indirect Exchange and Cross Exchange Rates 194
UNIT 15 199
Forward Exchange 199
[Reading Material] Forward Quotations 206
UNIT 16 210
Currency Futures and Options 210
[Reading Material] Other Instruments Used in Futures and Option Contracts 221