国际收支平衡表是根据会计学中的复式 记帐法来编制的,因而借方与贷方总是 可以达到平衡。这种平衡是会计学上的 平衡而非国际收支的平衡,国际收支平 衡关注的是一国经济长期、中期、短期 的健康发展与外部经济之间稳健的联系

国际收支平衡表是根据会计学中的复式记帐法来编制的,因而借方与贷方总是可以达到平衡。这种平衡是会计学上的平衡而非国际收支的平衡,国际收支平衡关注的是一国经济长期、中期、短期的健康发展与外部经济之间稳健的联系

 7.1 The relationship between an asset’s value & its price  7.2 Value maximization & financial decisions  7.3 The law of one price & arbitrage  7.4 Arbitrage & the law of one price  7.5 Interest rates & the law of one price  7.6 Exchange rates & triangular arbitrage  7.7 Valuation using comparables  7.8 Valuation Models  7.9 Accounting measures of value  7.10 How information is reflected in security prices  7.11 The efficient markets hypothesis

10.1 What is Risk? 10.2 Risk and Economic Decisions 10.3 The Risk-Management Process 10.4 The Three Dimensions of Risk Transfer 10.5 Risk Transfer and Economic Efficiency 10.6 Institutions for Risk Management 10.7 Portfolio Theory: Quantitative Analysis for Optimal Risk Management 10.8 Probability Distributions of Returns 10.9 Standard Deviation as a Measure of Risk

13.1 The Capital Asset Pricing Model in Brief 13.2 Determining of the Risk Premium on the Market Portfolio 13.3 Beta and Risk Premiums on Individual Securities 13.4 Using the CAPM in Portfolio Selection 13.5 Valuation & Regulating Rates of Return

14.1 Distinction Between Forward & Futures Contracts 14.2 The Economic Function of Futures Markets 14.3 The Role of Speculators 14.4 Relation Between Commodity Spot & Futures Prices 14.5 Extracting Information from Commodity Futures Prices 14.6 Forward-Spot Price Parity for Gold 14.7 Financial Futures 14.8 The “Implied” Riskless Rate 14.9 The Forward Price is not a Forecast of the Spot Price 14.10 Forward-Spot Price- Parity with Cash Payouts 14.11 “Implied” Dividends 14.12 The Foreign-Exchange Parity Relation 14.13 The Role of Expectations in Determining Exchange Rates

11.1 Using Forward & Futures Contracts to Hedge Risks 11.2 Hedging Foreign-Exchange Risk with Swap Contracts 11.3 Hedging Shortfall-Risk by Matching Assets to Liabilities 11.4 Minimizing the Cost of Hedging 11.5 Insuring versus Hedging 11.6 Basic Features of Insurance Contracts 11.7 Financial Guarantees 11.8 Caps & Floors on Interest Rates 11.9 Options as Insurance 11.10 The Diversification Principle 11.11 Insuring a Diversified Portfolio

 8.1 Using Present Value Formulas to Value Known Flows  8.2 The Basic Building Blocks: Pure Discount Bonds  8.3 Coupon Bonds, Current Yield, and Yield-to-Maturity  8.4 Reading Bond Listings  8.5 Why Yields for the same Maturity Differ  8.6 The Behavior of Bond Prices Over Time

 4.1 compounding  4.2 the frequency of compounding  4.3 present value and discounting  4.4 alternative discounted cash flow decision rules  4.5 multiple cash flows  4.6 annuities  4.7 perpetual annuities  4.8 loan amortization  4.9 exchange rates and time value of money  4.10 inflation and discounted cash flow analysis  4.11 taxes and investment decision

 3.1 Functions of Financial Statements  3.2 Review of Financial Statement  3.3 Market values v. Book Values  3.4 Accounting v. Economic Measures of Income  3.5 Return on Shareholders v. Return on Book Equity  3.6 Analysis Using Financial Ratios  3.7 The Financial Planning Process  3.8 Constructing a Financial Planning Model  3.9 Growth & the Need for External Financing  3.10 Working Capital Mgmt.  3.11 Liquidity & Cash Mgmt