Investment English – Introduction
What to study in this course?




Language & knowledge in lessons 1, 2, 3, 4,
5, 10, 11, 16
Terms and vocabulary
Exercises of vocabulary and translation
Supplementary reading of lessons 1, 2, 4, 5
Investment English – Introduction
What to read after class?
Financial news and investment articles available
from various media
Investment English – Introduction
What to obtain from the study?

A good command of investment English
(technical terms, words and expressions
of investment)

Basic knowledge of investment

Good reading & translation skills
Investment English – Introduction
How to assess your work?
Attendance (5%) + Presentation (15%)
+ Assignments (5%) + Mid-term Quiz (15%)
+ Final Exam (60%)
Investment English – Introduction
How to contact me?
My e-mail: Caijy@shfc.edu.cn
Tel: 13621859802
Lecture 1 Real Assets Versus Financial Assets
New Words
function
n. 函数
resource
n. (常用复) 资源
spectrum
n. 系列；范围
consume
consumption
v. 消费
n.
per se
本身；本来，本质上
Lecture 1 Real Assets Versus Financial Assets
New Words
ownership
n. 所有权
management
n. 经营（权）
investment
investor
invest
n. 投资
n.
v.
Lecture 1 Real Assets Versus Financial Assets
New Words
claim
n. 权利；要求权
allocate
allocation
v. 分派，分配
n.
issue
v. 发行
residual
a. 剩余的
creditor
n. 债权人
Lecture 1 Real Assets Versus Financial Assets
New Words
underlying
a. 根本的；基础的
endowment
n. 财物
finance
v. 供资金给；为……筹措资金
distinguish
v. 区别；辨别
liability
n. 债务，负债
Lecture 1 Real Assets Versus Financial Assets
New Words
issuance
n. 发行
net
a. 纯净的
loan
n. 贷款
debtor
n. 债务人
obligation
n. 债务
Lecture 1 Real Assets Versus Financial Assets
New Words
retiree
n. 退休人员
constraint
n. 限制，约束
risk-tolerant
a. 能承受风险的
conservative
a. 保守的
inherent
a. 内在的；固有的
Lecture 1 Real Assets Versus Financial Assets
New Words
global
a. 全球的，世界的
large-scale
a. 大规模的
skyrocket
v. （指物价等）飞涨
stake
n. 股份；份额
proportional
a. 成比例的
Lecture 1 Real Assets Versus Financial Assets
New Words
board
n. 委员会
director
n. 董事
supervise
v. 监督
stability
n. 稳定性
Lecture 1 Real Assets Versus Financial Assets
Terms
real assets
实物资产
financial assets
金融资产
stock
股票
bond
债券
securities
证券
bondholder
债券持有人
Lecture 1 Real Assets Versus Financial Assets
Terms
equityholder
股东
stockholder
股东
interest rate
利率
par value
面值
equities
股票
balance sheet
资产负债表
Lecture 1 Real Assets Versus Financial Assets
Terms
institutional investor
机构投资者
pension fund
养老基金
insurance company
保险公司
mutual fund
共同基金
endowment fund
资助基金
purchasing power
购买力
Lecture 1 Real Assets Versus Financial Assets
Terms
current consumption
当前消费
current earnings
现时收入
cash flow
现金流
financial instrument
金融工具
capital market
资本市场
Lecture 1 Real Assets Versus Financial Assets
Difficult Sentences in the text
Instead, financial assets contribute to the productive capacity
of the economy indirectly, because they allow for separation of
the ownership and management of the firm and facilitate the
transfer of funds to enterprises with attractive investment
opportunities.
金融资产间接提高了社会经济的生产能力，因为它们使公
司的所有权和经营权相互分离，从而使资金容易转移到具
有良好投资机会的企业中去。
Lecture 1 Real Assets Versus Financial Assets
Difficult Sentences in the text
句中contribute to的意思是“为……作出贡献; 对……起
作用”，contribute to the productive capacity of the economy
indirectly可译作“间接提高了社会经济的生产能力”。
Lecture 1 Real Assets Versus Financial Assets
Difficult Sentences in the text
Bondholders, for example, are entitled to a flow of income
based on the interest rate and par value of the bond.
例如, 债券持有者可以根据利率和债券的面值获得一定的收
入。
Lecture 1 Real Assets Versus Financial Assets
Difficult Sentences in the text
句中are entitled to的意思是“有权获得”。based on的意
思是
“基于……；根据……”。
Lecture 1 Real Assets Versus Financial Assets
Difficult Sentences in the text
Thus financial markets allow individuals to separate decisions
concerning current consumption from constraints that otherwise
would be imposed by current earnings.
个人的当前消费决策受到现时收入的制约，而金融市场使
这对矛盾得以解决。
Lecture 1 Real Assets Versus Financial Assets
Difficult Sentences in the text
句中allow individuals to separate decisions concerning current
consumption from constraints解释为“金融市场使个人的当前
消
费决策不受制约”。
Lecture 1 Real Assets Versus Financial Assets
Difficult Sentences in the text
Financial markets and the diverse financial instruments traded
in those markets allow investors with the greatest taste for risk
to bear that risk, while other less-risk-tolerant individuals can, to
a greater extent, stay on the sidelines.
金融市场和在这一市场上进行交易的各种金融工具让愿意
冒险的投资者承担了风险，而厌恶风险者则在很大程度上
可以不承担风险。
Lecture 1 Real Assets Versus Financial Assets
Difficult Sentences in the text
句中on the sidelines的意思是“旁观；不直接参与”，在这
里
作“不承担风险”解释。
Lecture 1 Real Assets Versus Financial Assets
Questions about the text
What do real assets generate in a society?
Do financial assets contribute to the productive capacity of
the economy in the same way as real assets?
Lecture 1 Real Assets Versus Financial Assets
Questions about the text
What is the relation between real and financial assets?
How are real and financial assets distinguished operationally?
Lecture 1 Real Assets Versus Financial Assets
Questions about the text
Where are financial assets created and destroyed?
How are financial claims held in the United States?
Lecture 1 Real Assets Versus Financial Assets
Questions about the text
What roles do financial assets and markets play in developed
economies?
Can an individual shift his consumption over the course of his
lifetime? How can he do that?
Lecture 1 Real Assets Versus Financial Assets
Questions about the text
Who bear most of the business risk, stockholders or
bondholders?
How are ownership and management separated?