Aggregate basis : data collected on this basis show the total transactions made by respondents during specified reporting

periods, such as information obtained through enterprice surveys. Balance of payments : A statistical statement that summarizes transactins berween residents and nonresidents during a periode usually a calendar year. The balance of payments comprises the current accounts, the caoutak account, and these accounts balance in the sense the sum of the entries is conceptually zero. Balace of payments that flow between any idividual country and all other countries. It is used to summarize all international economic transactions for that country during a specific time period ussually year. The BOP is determined by the countrys exports and imports of goods, services, and financial capital as well as financial tansfers, it teflects all payments and kuabukurues ri foreigners (debits) and all payments and obligations received from foreigners ( credirs ). Balance of payments is one of the nafir idicators of a countrys status in international trade, with net capital outflow. Chash : asset account on a balance sheet representing paper currency and coints, negotible money order and check, and bank balances. Also cash is the value of assets that can be converted into cash immediately, as reported by a company. Usually includes bank accounts and marketable securities, such as goverment bond and bankers acceptaces. Cash equivalents on balance sheets include securities that mature within 90 days (e.g.,notes). Consumer surplus : the difference between what a consumer would be willing to pay for a good or servise and that consumer actually has to pay. Added to producer surplus, a measure of the total economic benefit of a sale. Demand deposits : account balance which, without prior notice to the bank, can be drawn on by chech withdrawal from an automatic teller machine, or by trasfer to other accounts using the telephone or home computers. Demand deposit is a deposit that the depositor has a right to withdraw at any time wirhout prior notice to the depository institution. By law, no interest can be paid on such deposits. Demand deposits are commonly offered in the form of checking accounts. Equilibrium market price of risk : the slope of the capital marker lime (CML). Since the of CML represents the expected return offered to compenate for a perveived level of risk, each point on the line is a balanced market condition, or equilibrium. The slope of the line determines the additional expected return neede to compensate for a unit change in risk, the equation of the CML is defined by the capital asset pricing model. Federal reserve regulatory service : monthly subsciption service that includes all statustes and tegulation for which the Federal Reseve has responsibility, board of Governors interpretations and rullings official staff commentaries, significant staff opinions, and procedural rules under which the Board operates. Fixed income equicalent : alsi called a busted convertible. Convertible security that is tranding like a straight secutity bicause the optioned common stock is trading well below the concersion price.

Guidance : it is increasingly important for firms to meet or exceed analysts consensus earning forecasts. Often management will give guidance or hints of the earnings per share prospects over the next quarter or next year ti try to direct the cosensus to what is achievable. For example, it is possible that the cosensus is wll above managements internal forecasts. Management will try to gude the consesus downwards so that whenthe earning are released the negative surprise is minimized. Under Regulation FD, management needs to be very careful to privide guidance information to all share holders not just a select group of analysts. This is often achieved in investor presentations (that are often webcast ) or conference calls (where anyone is allowed to dial in ). Hedge ratio ( delta ) : for options, ratio berween the change in an options the oretical value and the change in price of the underlyingstock at a given point in tine. For covertibles, percentage of a covertible bond tepresenting the number of a underlying common shares sold against the shares into wichih bonds are convertible. If a preferred is convervible into 2000 common shares a 75% hedge ratio would be shirt (long) 1500 common for every 1000 preferred ling (short). See Delta. Inflation : the proportionate rate of change in general price level, as opposed to the proportionate increase in a specific price. Inflation is usually measured by a broad-based price index, such as the implicit deflator for Gross Domestic product or the Consumer Price Index. Investment product line (IPL) : the kine of tequired returns for investment projects as a function of geta ( nondiversifiable risk). Join float : an arrangenement by which a group of currencies maintain fixed relationship relative to each other, but move jointlu relative to another currency in resoise to supply and demand conditions in liable for all debts of the company. Kiting : used in baking to refer to the practice of depositing and taking advantace of the it takes for thr second bank to collect funds from the first bank. Also refers to illegally increasing the face value of a check by changing the numbers on the check. In the context of securities, refers to the manipulation and inflation of stock price. Loan : temporary borrowing of a sum of money. If you bottow $ 1 million you have taken out a loan for $ 1 milion. Loan is an agreenent ynder which an owner of asserts ( the lender ) allows another entity ( the borrower ) to use the assets for a specified tame period. In return, borrower agrees to pay the lender a payment ( interest ) and return the assets ( cash ) at the end of the agreed upon time period. Monopoly : absolute control of all sales and distribution in a market by one firm, due to some barrier to entry of other firms, to sell at a higger price then the socially optimal price. Nominal value : the value of anything expressed simply in the money of the day. Since infaltion meams that money can lose its balue over time, nominal figures can be misleading when used to compare differnt periods. It is better to vompare their real value, by adjusting the nominal figures to remove the inglationary distortion.

Oligopoly : a market structur dominated by a small number of large firms, who often act together to control the supply of a particular good and its market priceselling either identiical or differentiated products, and significant barriers to entry into the industry. This is one ooof four basic market structures. The other three are perfect competition, monopoly, and monoplistic competition. Payment : the amount required to tepay a loan, including interest and fees. Payment date : the date on which shareholders of record will be sent a check for the declareddvidend. Quantitative research : use of advanced econometric and mathematical valuation models to identify the firms with the best possible prospectives. Antithesis of qualitative research. Risk : often defined as the standard deviation of return on total investment. Degree of ucertainty of return on an asset. A combination of the probability that a threat will occur, the probability that a threat occurrence will result in an an adverse impact, and the severity of the resulting impact. In context of asset pricing theory. Saving deposits : accounts that pay interest, typically at below-market interest rates, that fo not have a specific maturity, and that usually can be withdrawn upon demand. Supply risk : the risk associated with a change in raw materials or input to a project from those assumed or projected. In the context of a resources production project, this is called reserves risk. Total cost : The price paid for a security plus the brokerscommission and any accrued interest the seller ( in the case of a bond). Underbooked : describes limited interest by prospective buyers in a new issue of a security during the preofferingregistration period. Value investing : in the context of asset management, mutual funds, and hedge funds, the a style of investment that focuses on securities with low price to earnings rations or low price to book ratios. Some of these securities are deemed cheap and are viewed by manager as having a lot of profit potential. Wasting asset : an asset that has a limited life and thus decreases in value ( depreciates ) over time. Also applies to consumed assets, such as oil or gas, and termed depletion. Whites ranting : a ranting of municipal securities, that uses marketfactors rather than credit considerations to find appropriate yields. X- inefficiency : cost that is higher than it needs to be because a firm is operating inefficiently. This is most often seen for firms that have a great deal of market control, especially monopoly. The lack of competition allows a business to pad its expense, hire unneeded employees ( like relatives ), goof off instead of working, and all sorts of other things that lessen production and increase cost. The business is not penalized for these

actions, because market control allows the company to extract whatever price is needed to cover cost. Yellow stripe price : a stock market price shown on screen of the Stock Exchange Automated Quotation System which refers to large bargains of a particular stock. Yield Variance : effect of varying the total input of a factor of production while holding constant the input mix and the weighted avarage unit price of the factor of production. Zero profit : the absence of supernormal profits in the long run, under conditions of perfect competition, as firms earn only normal profits which are included in average costs.

DAFTAR ISTILAH EKONOMI

Disusun Oleh : Dia Rahmawati ( 201110180311085 )

Universitas Muhammadiyah Malang Fakultas Ekonomi

Ilmu Studi Pembangunan