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1、Chapter 3What Is Money?要学习金融，必须先了解货币。在现实社会经济生活中，没有人不知道货币，社会上每一个人、每一家企业，几乎天天都在和货币打交道，但是对货币的产生和发展过程、货币的性质、货币的运行规律、职能作用等问题，人们却未必都能了解。马克思曾引用当时英国议员格来斯顿的话说：“受恋爱愚弄的人，甚至还没有因钻研货币本质而受愚弄的人多。”萨缪尔逊在其名著经济学中（第十五章）曾引用金哈伯特的一句名言：“在一万人中只有一个懂得通货问题，而我们每天都碰到它”。The story of Monopoly money The makers of the board game Mono
2、poly print about 50 billion dollars worth of Monopoly money every yearcoincidentally about the same as the amount of new U.S. currency issued in 2002. Every game has bills totaling 15,140 Monopoly dollars. At a cost of about 13 U.S. dollars per set, this “money” would be a good deal if you could buy
3、 things other than Boardwalk and Park Place with it. Unfortunately, attempts to pay for groceries, books, or rent with this particular form of money have been unsuccessful. And thats probably a good thing. Since the mid-1930s, Parker Brothers has sold over 200 million Monopoly games, containing more
4、 than 3 trillion Monopoly dollars.1A complicated payment systemWhen we pay for our purchases in the real world, we have lots of choices: crisp new $20 bills, credit cards, debit cards, checks, or more complicated electronic methods. Regardless of the choice we make, we are using money to buy our foo
5、d and clothes and pay our bills. To make sure we can do it, thousands of people work through every night, for the payments system really never sleeps. The middle of the night is the busiest time for check-clearing operations. Trucks make pickups and deliveries, and a fleet of leased airplanes flies
6、sacks of paper checks around the country. And the volumes are astounding. The Federal Reserve reports that in 2000 there were 103 billion non-cash payments made in the U.S., 65 percent of which were paper checks. That means something like 250 million paper checks and 150 million electronic payments
7、were processed on an average business day. From the time you put a signed check into an envelope until it returns to you with your bank statement, that small piece of paper travels a long way. If you choose another way to pay, the path of that payment is just as complicated. To understand why money
8、is so importantTo understand why money is so important to the smooth functioning of the economy and how it improves everyones well-being, we need to understand exactly what money is. Just why is a $20 bill issued by the U.S. government much more useful than $20 in Monopoly money? Furthermore, to qua
9、ntify the impact of money on the economy, we need to be able to measure it. Those are the goals of this chapter: to understand what money is, how we use it, and how we measure it.Meaning of MoneyMoney （money supply）anything that is generally accepted in payment for goods or services or in the repaym
10、ent of debts现代货币的定义一般表述为：凡是在商品与劳务交易和债务清偿中，可作为交易媒介与支付工具、被普遍接受的手段就是货币。货币在日常生活中的种种涵义其主要代表性涵义有三种：其一，常指通货。其二，把货币看成是财富的同义语。其三，把货币等同于收入。通货（currency，即钞票和硬币）显然符合经济学家给出的货币定义，因而是货币的一种。大多数人在言及货币时，所说的就是通货。例如，有人走近你并且说道“要钱还是要命”时，你会迅速掏出口袋里所有通货，而不会问“你说的货币究竟指什么？”Currency（通货）dollar bill（纸钞）+ coin（铸币）=法币（fiat money）然而把
11、货币仅仅定义为通货，对于经济学家来说是过于狭窄了。由于支票在购买付款时也是被接受的，因此支票帐户存款也被看成货币。旅行支票或储蓄存款之类，如能迅速而方便地转变为通货或支票存款，有时也用来支付货款或有效地发挥货币的功能，所以我们常常需要一个范围更广的货币定义。Wealththe total collection of pieces of property that serve to store value使事情更为复杂的是，货币一词常常被用作财富的同义词。当人们说某人很有钱时，他们可能想说的是该人不但有许多通货和大笔支票存款，而且还拥有股票、债券、四辆轿车和三处住房。在这里，货币被用作财富的同义
12、词。财富不仅包括货币，而且包括债券、股票、艺术品、土地、家具、轿车和房屋等资产。作为货币的定义，通货固然太狭窄了，然而这种财富意义上的用法却太宽了。经济学家把用于购物的各种形式的货币（通货、活期存款等）同作为价值贮藏的各项财产总和的财富（wealth）作了区分。Incomeflow of earnings per unit of time常听到这样的话：“他有一份好工作，能挣大笔的钱”。在这里，货币一词被当做收入来使用。实际上，收入是某一时间单位里收益的流量，而货币一词是存量意义上的概念，即某一时点上的一个确定的金额。因此，在经济学家的头脑里，货币与收入是两个不同的概念。思考：以下哪种表述更符
13、合经济学家对货币的定义： A你上个星期赚了多少钱？ B去商场前，你带够了钱吗？ C爱财是万物之源 西方经济学中常见的货币定义 1，货币商品论与货币金属论 重商主义其核心观点：The more gold a nation had ,the richer and more powerful it was.财富就是金银，财富来源于流通。货币=金银=财富，货币就是一般商品（威廉配第，亚当斯密）否认货币是特殊商品2、货币数量论和货币名目论1货币的价值和商品的价格都由货币数量决定，货币本身没有价值2货币是一种价值符号，代表财富的工具. 西方经济学家的货币起源观1、亚当斯密（英国，1723 1790）： 货
14、币是为克服物物交换的困难而产生的2、布阿吉尔贝尔（法国，1646 1714）： 货币产生于卖者出售商品后需要的保证物3、杜尔阁（法国，1727 1781）： 货币是因商品交换需要确立标准估价物而产生的4、萨缪尔逊（美国，当代经济学家）： 货币产生于物物交换的困难Functions of Money货币的三个功能是：Medium of exchange 交换媒介 Unit of account 计算单位 Store of value 价值储存手段 We look at the functions of money. Firstly its a medium of exchange, so its
15、 some commodity which facilitates the exchange of goods and services. It is also a unit of account, which means that we use money to reckon prices and reckon values for comparisons between goods and services or over time. And thirdly, money is a store of value. It is an asset. Its something that we
16、can use to store value away to be retrieved at a later point in time. So we can not consume today, we can hold money instead - and transfer that consumption power to some point in the future.首先货币是一种交换媒介，是帮助其他货物与服务进行交换的手段。其次它是一种计算单位，就是说我们用钱来测量货物、服务或时间之间的价格和价值的比较。第三它是价值存储手段，是一种资产。我们可以用它把价值储存起来，在以后的某个时刻
