[재무관리] Foundation of Finance(금융의 기초)

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[재무관리] Foundation of Finance(금융의 기초)에 대한 자료입니다.
목차
 Step 1. Unsystematic Analysis

- GDP
- Inflation
- Net Export
- Interest Rate


 Step 2. Numerical Analysis

- Expected Return
- Realized Return
- Risk-free Return
- Return(Domestic Investment)


 Step 3. Conclusion


 Reference

본문내용
In October 2009, United Kingdom inflation rate is + 1.5%. According to graph and table, now United Kingdom inflation rate is higher than September. (+ 0.4%).
- CPI inflation declined to 1.1% in October.
- RPI dropped to -1.3%
- The successive downturn
- Factors : low food and electiricity prices, decline in utility bills, reduction VAT
2. United States



In October 2009, United States inflation rate is – 0,20%. Actually, United States inflation is minus, that is deflation, but according to graph and table, now United States inflation rate is higher than September (+ 1.1%).
- CPI Increased 1.1% (still minus figure)
- industrial production figures fell 0.1%
- Chronic unemployment, severe recession
- factors : rise food, medical care prices, gasoline price

*Comparing U.K. and U.S.

United Kingdom inflation rate > United States inflation rate
So, bad.

- Net Export

1. United Kingdom

In October 2009, United Kingdom balance of trade is – 3,469.
Because,
- Export rose by 3.9%
- Factories optimistic about exports than at any time since 1995.
- Manufacturing expanded in October at fastest pace in two years.

2. United States

In October 2009, United States balance of trade is – 36,472.
Because,
- Export rose by 2.9%
- Demand for foreign products may remain elevated.
- The gap between exports and imports are larger than anticipated 18%.
- Purchases of foreign-made autos and parts surged.

*Comparing U.K. and U.S.
United Kingdom Net export > United States Net export
So, good.

- Interest Rate

1. United Kingdom


In October 2009, United Kingdom interest rate is 0.5%.

-Current UK Interest Rate: 0.5%
-Households have reduced their spending substantially .
-CPI inflation fell to 1.1%
-The quantitative easing program was boosted by £25bn to £200bn .

참고문헌
1. Tradingeconimics : http://www.tradingeconomics.com/Economics/GDP-Per-Capita-PPP.aspx?Symbol=USD
2. Forecasts : http://forecasts.org/ffund.htm

3. Bank of England : http://www.bankofengland.co.uk/index.htm