Unit17 Money Management Business
Money Management
Banking, stock broking, and fund management are converging. For investment banking houses, money management business is not a question of whether to enter, but rather to "buy" or to "build". In 1970, only 7 of top 15 underwriters had affiliations with units that ran money. By 2003, nearly all major investment banks had drifted into fund management. Several factors have contributed to the growing importance of money management operations within investment banking business umbrella.
Money management business资金管理行业
Banking, stock broking, and fund management are converging.银行业、证券经纪业和资金管理业正逐渐趋同。
Converge: to come from different directions and meet at the same point to become one thing[≠diverge]:
For investment banking houses, money management business is not a question of whether to enter, but rather to "buy" or to "build. ".对投资银行来说，资金管理行业不是什么是否进入的问题，而是要去“买”还是去“新建”的问题。
In 1970, only 7 of top 15 underwriters had affiliations with units that ran money 1970年，顶级的15家承销商中只有7家拥有运营资金的附属机构。
By 2003, nearly all major investment banks had drifted into fund management. 2003年，几乎所有顶级的投资银行都介入了资金管理业务。
Drift: to move slowly
Drift into sth: to move, change, or do something without realizing it. 不知不觉的开始做某个事情
She was just drifting into sleep when her boss is coming in. 当她迷迷糊糊刚要睡着的时候，经理近来了。
（在这个句子中，nearly all major investment banks had drifted into fund management. 表达的意思是：几乎所有的顶级的投资银行都在不知不觉中介入了资金管理业务。）
Several factors have contributed to the growing importance of money management operations within investment banking business umbrella.
A Contribute to
B : A 导致 B 的发生，A是B的原因
Several factors have contributed to the growing importance of money management operations
有几个因素导致了资金管理业务的重要性，或者说有几个因素是资金管理变的越来越重要的原因。
（好，我们再来看一下这句话中umbrella的意思，umbrella 本意是伞，在这里把investment banking比做一个大伞，在这个大伞下经营着很多的业务，money management就是其中之一.
译文：资金管理业务作为投资银行业务的一个分支，其重要性正日益增强。导致这一现象的原因有以下几点：
First, it is to keep up with competition by providing a one-stop financial store. Running affiliated funds expands the range of products and services investment banks offer to clients. Second, it helps balance out banks' volatile income streams with a relatively stable .source of income. Affiliated funds provide support for Wall Street parents' underwriting business as well. Investment banks take in revenues to underwrite securities is sues and fee income with the help of fund management operations. It is one of the most attractive segments of the financial services industry. The total industry net assets have grown from $135 billion in 1980 to ,$4.49 trillion by December 1997. By the end of 2003, the assets of the U. S. ' s mutual funds grew to nearly $7 trillion.
First, it is to keep up with competition by providing a one-stop financial store. 首先是出于通过提供一步到位式金融服务(one- stop financial store，或称全方位金融服务) 从而保持自己竞争力的需要。
Running affiliated funds expands the range of products and services investment banks offer to clients.运营附属基金可以扩大投资银行向客户提供的产品和服务的范围；Second, it helps balance out banks’volatile income streams with a relatively stable source of income.
Volatile: 动荡不定的
Balance out: if two or more things balance out, the final result is that they are equal in amount, importance, or effect:
译文：其二，资金管理可以带来相对稳定的收入流，从而有助于抵消银行收入流的不稳定；
Affiliated funds provide support for Wall Street parents' underwriting business as well.附属基金也为其华尔街上的母公司的承销业务提供了支持，
Investment banks take in revenues to underwrite securities issues and fee income with the help of fund management operations.投资银行可以从承销证券发行得到收益，并通过经营资金管理业务获取费用型收入。
It is one of the most attractive segments of the financial services industry.资金管理是金融服务行业中最具吸引力的业务之一，
The total industry net assets have grown from $135 billion in 1980 to ,$4.49 trillion by December 1997.其行业的总净资产已经从1980年的1 350亿美元增加到了I 1997年12月的44 900亿美元。
By the end of 2003, the assets of the U. S. ' s mutual funds grew to nearly $7 trillion.到2003年年底，美国全国的共同基金资产已达到近7万亿美元。
Investment management business itself is undergoing radical reshaping. According to a widely read report from Goldman Sachs published in 1997, consolidation is the wave of the future. Within the next few years, the industry will emerge as a handful of dominant companies and some smaller niche players. To establish and secure a position in the marketplace quickly, Wall Street firms favor buying over the build-it-yourself approach.
Investment management business itself is undergoing radical reshaping.投资管理行业本身正在进行彻底的洗牌。
According to a widely read report from Goldman Sachs published in 1997, consolidation is the wave of the future.根据高盛公司1997年发布的一项读者面较广的报告，合并将在未来掀起高潮。
Within the next few years, the industry will emerge as a handful of dominant companies and some smaller niche players.在接下来的几年内，该行业将出现由少数几家占主导地位的公司和一些较小的专业公司组成的局面。
Niche来源于法语。法国人信奉天主教，在建造房屋时，常常在外墙上凿出一个不大的神龛，以供放圣母玛利亚。它虽然小，但边界清晰，洞里乾坤，因而后来被引来形容大市场中的缝隙市场。在英语里，它还有一个意思，是悬崖上的石缝，人们在登山时，常常要借助这些微小的缝隙作为支点，一点点向上攀登。
20世纪80年代，美国商学院的学者们开始将这一词引入市场营销领域。Niche Marketing—利基市场，是指在市场中通常被大企业所忽略的某些细分市场，但是很有发展潜力的市场。
Player: 在这里指公司。
To establish and secure a position in the marketplace quickly, Wall Street firms favor buying over the build-it-yourself approach.为迅速在华尔街上崛起并争得一席之地，华尔街上的公司更偏好买入(一家现成的投资管理公司)而不是采用自己新建(一家公司)的方法。
There are several important factors about the money management. First, the money management industry itself has been through restructuring in recent years. Second, commercial banks have been buying into asset management business as well. Third, investment banking houses are also in play.
There are several important factors about the money management. 在资金管理行业有几个重要的因素需要考虑：
First, the money management industry itself has been through restructuring in recent years.第一，资金管理行业本身近年来也一直在进行重组；
Second, commercial banks have been buying into asset management business as well.第二，商业银行也在通过收购进入资产管理行业；
Buy into: to buy part of a business or organization, especially because you want to control it. 收购
Third, investment banking houses are also in play.第三，投资银行业也已经参与进来。
Types of Money Management Operation
There are many types of investment management, including mutual funds, unit investment trusts, hedge funds, private client services businesses, leveraged buyout funds, and private equity funds. Private equity funds are funds that invest primarily in private equity such as venture capital. Leveraged buyout funds invest in corporate buyouts. Unit investment trust" is a registered investment company that buys and holds a relatively fixed portfolio of securities or assets. Units in the trust are sold to investors who receive a share of principal and interest or dividends. Unit investment trusts typically have a stated date for termination. Private client services business manages money for wealthy clients. Almost all investment commercial banks run private client services businesses. For example, Goldman Sachs has some 365 brokers who specialize in money management for wealthy clients managing more than $200 billion of investor’s money.
Types of money management operations资金管理业务运营的类型
There are many types of investment management, including mutual funds, unit investment trusts, hedge funds, private client services businesses, leveraged buyout funds, and private equity funds.投资管理有许多类型，包括共同基金、单位投资信托、对冲基金、面向私人客户的服务行业、杠杆收购基金和私募股权基金。Private equity funds are funds that invest primarily in private equity such as venture capital.私募股权基金是主要投资于私募股权的基金，如风险投资基金。Leveraged buyout funds invest in corporate buyouts.杠杆收购基金投资于公司收购业务。
Unit investment trust" is a registered investment company that buys and holds a relatively fixed portfolio of securities or assets.单位投资信托是一家经登记的投资公司，它购买并持有相对较为固定的证券或资产组合。
Units in the trust are sold to investors who receive a share of principal and interest or dividends.该信托中的各单位被出售给投资者，投资者则拿到一份本金和利息凭证或股利凭证。
Unit investment trusts typically have a stated date for termination. 单位投资信托一般有一个规定的终止日。
Private client services business manages money for wealthy clients. Almost all investment and commercial banks run private client services businesses. 面向私人客户的服务行业是为富有的客户管理资金，几乎所有的投资银行和商业银行都经营私人客户的服务业务。
For example, Goldman Sachs has some 365 brokers who specialize in money management for wealthy clients managing more than $200 billion of investor’s money.
比如，高盛公司有大约365名经纪人，他们专门为富有的客户管理资金，其为投资者管理的资金超过了2 000亿美元。
Hedge funds are unregistered, private investment pools bound by the investment agreement investors sign with the sponsors of the hedge funds. With the exception of anti-fraud standards, they are exempt from SEC regulation. The sponsors of a hedge fund generally are not subject to any limitations in portfolio selection, and are not required to disclose information about the hedge fund’s holdings and performance, even though there has been drive for disclosure on strategies and portfolios. The typical fee structure for a hedge fund is that the hedge fund manager takes a fee of 1% -- 2 % of net assets, plus 20 % incentive fees. Some have front-end charges as well. Most hedge funds impose a high minimum investment; a minimum investment of $250 000 or $500 000 is typical, though some have lower minimums and some have higher requirements.
Hedge funds are unregistered, private investment pools bound by the investment agreement investors sign with the sponsors of the hedge funds.对冲基金是一种无须登记的私募投资基金，它受投资者与对冲基金主办人之间签订的投资协议的约束。
Bound: be bound by a law, promise,agreement 意思是：受…的约束，负有…的义务
With the exception of anti-fraud standards, they are exempt from SEC regulation.除了必须受到反欺诈法的管辖外，它不受证券交易协会的监管。
Exempt免除，豁免
The sponsors of a hedge fund generally are not subject to any limitations in portfolio selection, and are not required to disclose information about the hedge fund’s holdings and performance, even though there has been drive for disclosure on strategies and portfolios.对冲基金的主办人在投资组合的方面一般不会受到任何限制，不必披露对冲基金的持仓情况和业绩表现方面的信息，尽管一直存在要求对冲基金披露策略和组合选择的倾向。
Disclose: =elicit 披露
The typical fee structure for a hedge fund is that the hedge fund manager takes a fee of 1% -- 2 % of net assets, plus 20 % incentive fees. Some have front-end charges as well.对冲基金的典型费用结构是对冲基金管理人收取净资产的1％～2％左右的费用，再加上20％的激励费，还有些基金收取前端费用。
Most hedge funds impose a high minimum investment; a minimum investment of $250 000 or $500 000 is typical, though some have lower minimums and some have higher requirements. 大多数对冲基金要求有较高的最低投资额，虽然这一要求有高有低，但通常的最低投资额是25万美元或50万美元。
Under the National Securities Markets Improvement Act of 1996, hedge funds can accept investment from an unlimited number of qualified individuals who hold at least $5 million in investments or institutions with $25 million in investments, in
addition to its 100 or fewer other nonqualified investors. However, it is prohibited from making a public offering of its securities. This is intended to limit participation in hedge funds and other types of high risk and high leverage pools to highly sophisticated investors.
Under the National Securities Markets Improvement Act of 1996, hedge funds can accept investment from an unlimited number of qualified individuals who hold at least $5 million in investments or institutions with $25 million in investments, in addition to its 100 or fewer other nonqualified investors.根据1996年美国《全国证券市场改良法》，对冲基金除了可以从其100个或少于100个的非合格型投资者手中接收投资外，还可以从符合资格的个人或机构手中接收投资，其中对个人资格的要求是至少持有500万美元的投资额，对机构的要求是至少持有2 500万美元的投资额，而对这两种投资者的数量都不加限制。
However, it is prohibited from making a public offering of its securities. 然而，法规仍禁止对冲基金公开发行其证券。
This is intended to limit participation in hedge funds and other types of high risk and high leverage pools to highly sophisticated investors. 这一规定旨在限制那些经验极其丰富、技术极其熟练的资深投资者对对冲基金和其他类型的高风险、高杠杆资产组合的参与。
Operation of Mutual Fund in America
背景介绍
美国的共同基金是一种公司型开放式基金，而我国目前的基金类型全部为契约型封闭式基金，这与我国证券市场的发展程度有很大关系。随着我国证券市场的成熟与发达，共同基金将是我国基金的发展方向或样板。事实上，国际市场的基金类型也是以开放式为主的，因此，了解共同基金或开放式基金的具体运作是非常必要的。
Open-end investment companies are so called because of their fluctuating capitalization.
As investors deposit money to purchase mutual fund shares, the fund's transfer agent issues new shares at the current NA V plus a sales charge, if any. If shares are tendered for redemption, the transfer agent cancels them and pays their NA V to the shareholder. Thus, if investors buy more new shares than they redeem, the number of outstanding shares rises. Conversely, when redemptions exceed sales, outstanding shares decline in number.(Redemption at net asset value precludes the possibility of mutual funds selling at a discount, as their closed-end cousins sometimes do.) Consequently, the number of shares of the typical mutual fund fluctuates frequently, often daily. This constant flux in capitalization has led to the application of the terms open end to describe mutual funds, and closed end to describe the type of Management Company that makes a one-time offering of shares.
Mutual Funds共同基金
Open-end investment companies are so called because of their fluctuating capitalization. 开放式投资公司之所以这样命名是因为它们拥有波动的资本总额。
As investors deposit money to purchase mutual fund shares, the fund's transfer agent issues new shares at the current NA V plus a sales charge, if any.
transfer agent: 销售代理人
当投资者出资购买基金份额时，基金销售代理人出售新的份额，（at表示以什么样的价格出售）以当前净资产值(NA V: net asset value)加上一定的销售费用(如果存在的话)
译文：当投资者出资购买基金份额时，基金销售代理人就以当前净资产值(NA V)加上一定的销售费用(如果存在的话)出售新的份额。
If shares are tender ed for redemption, the transfer agent cancels them and pays their NA V to the shareholder. 如果基金份额被要求赎回，销售代理人就购回这部分份额并按其净资产值向股东支付现金。
Redemption n. redeem v. 赎回
Thus, if investors buy more new shares than they redeem, the number of outstanding shares rises. 因此，如果投资者购买的新份额超过赎回的份额，基金的未清偿余额就增加。Conversely, when redemptions exceed sales, outstanding shares decline in number. 相反，如果赎回超过销售，未清偿余额就减少。
Consequently, the number of shares of the typical mutual fund fluctuates frequently, often daily. 因此，典型的共同基金的份额数目总是频繁波动，经常每日如此。
This constant flux in capitalization has led to the application of the terms open end to describe mutual funds, and closed end to describe the type of Management Company that makes a one-time offering of shares. 资本总额的这种固有的不断变动导致了应用术语“开放式”来描述共同基金的特性，而“封闭式”用来描述那种一次性出售基金份额的管理公司。
Flux: a situation in which things are changing a lot and you cannot be sure what will happen
Flux=fluctuation
Term: 术语
Mutual funds are offered to investors either at NA V or at NA V plus a sales charge, usually called a load in industry usage. Those offered to investors at NA V are sold directly by the fund's distributor, often a captive organization of the management group that operates the fund. These groups have no commissioned sales force and thus invest all of the money an investor deposits. They are called no-load funds and are growing rapidly in both numbers and in assets under management.
Mutual funds are offered to investors either at NA V or at NA V plus a sales charge, usually called a load in industry usage. 共同基金或者以净资产值，或者以净资产值加销售费用——行业内部通常称为手续费，出售给投资者。
Those offered to investors at NA V are sold directly by the fund's distributor, often a captive organization of the management group that operates the fund. 以净资产值向投资者出售的那些基金直接由基金的分销商出售，分销商通常是经营基金的管理集团控制下的一个组织。
Captive: 被监禁的，被关押的
a captive organization：被控制的组织
These groups have no commissioned sales force and thus invest all of the money an investor deposits. 这些集团没有收取佣金的销售组织，因而投资者的出资全部用于基金投资。They are called no-load funds and are growing rapidly in both numbers and in assets under management. 它们被称为不收费基金，其数量和所管理的资产规模都在迅速增加。
Funds that charge a sales load are both more numerous and generally better known to the investing public. They are sold through commissioned sales forces, including those of major brokers and insurance companies. Advertising budgets of these organizations are often substantial. More importantly, registered representatives of brokerage firms ordinarily do not get paid for selling no-load funds. Should an investor want to buy a mutual fund from a broker therefore, the chances of a recommendation featuring a no-load fund are rather small.
Funds that charge a sales load are both more numerous and generally better known to the investing public. 对投资公众来说，收取销售费用的基金不仅数量更多，也更为闻名。
They are sold through commissioned sales forces, including those of major brokers and insurance companies. 它们由收取佣金的销售组织出售，包括一些主要的经纪人和保险公司。Advertising budgets of these organizations are often substantial. 这些组织的广告预算经常相当可观。
More importantly, registered representatives of brokerage firms ordinarily do not get paid for selling no-load funds. 更重要的是，经注册的经纪公司的代表们一般对出售不收费基金不能收取佣金.
Should an investor want to buy a mutual fund from a broker therefore, the chances of a recommendation featuring a no-load fund are rather small.因此，如果投资者想从经纪人手中购买共同基金时，得到经纪人以不收费基金为主进行的推荐的机会就相当小。
The sales load can range from as little as 1% or 2% to as much as 8.5%. The latter percentage was the industry standard for many years, but has been shrinking under the pressure of more aggressive advertising by no-load competitors and the increasing financial sophistication of the average investor. A charge of 4.5% to 5% is probably the most widespread.
The sales load can range from as little as 1% or 2% to as much as 8.5%.销售费用的范围小到1 ％或2 ％，大到8.5 ％。
The latter percentage was the industry standard for many years, but has been shrinking under the pressure of more aggressive advertising by no-load competitors and the increasing financial sophistication of the average investor. 后一百分比在过去的许多年曾经是该行业的标准，但后来日趋降低，这是由于来自不收费基金的更为进攻性的广告战和普通投资者的金融经验和技术逐渐成熟所带来的压力。
Shrink: to become smaller or to make sth to become smaller 缩水，收缩
(In this sentence, the percentage of the industry standard has been shrinking)
A charge of 4.5% to 5% is probably the most widespread.收取4.5 ％到5 ％的费用可能较为普遍。
The load fund industry has responded to these pressures by increasing some fees that are perhaps less obvious than the up-front sales charge. A number of load funds have reduced the initial charge to something like 3% or 4%, but added a "back-end load" which might tack on an additional 4% if the investor liquidates within a given period, for example, 48 months, aider purchase.
The load fund industry has responded to these pressures by increasing some fees that are perhaps less obvious than the up-front sales charge. 收费基金行业为适应这些压力，增加了一些比前端销售费用可能更为隐蔽的费用。
A number of load funds have reduced the initial charge to something like 3% or 4%, but added a "back-end load" which might tack on an additional 4% if the investor liquidates within a given period, for example, 48 months, after purchase.. 大量的收费基金已经将首次收费降低到3 ％或4 ％，但同时增加了“后续费用”它是指如果投资者在一定期间内要求赎回，比如在购买后的48个月内，则要收取4 ％的附加费用。
Tack on: v. 增补；附加
Liquidate:v. 停业清算，偿还债务(在这里理解为“赎回”)
the Purchase Methods of Mutual Fund
Purchase Methods
Mutual funds can be bought through a variety of means. The most popular method with investors is to buy in dollar amounts, such as $5 000 worth. The fund's transfer agent can confirm the purchase of fractional shares, typically up to 3 decimal places. Shares are not commonly delivered to investors so that distributions may be reinvested in new shares to achieve a compounding effect. Although individual stocks may offer dividend reinvestment plans, the mutual fund offers it, in effect, on an entire portfolio.
Purchase Methods购买方法
Mutual funds can be bought through a variety of means. 可以通过许多方式购买共同基金。
The most popular method with investors is to buy in dollar amounts, such as $5 000 worth. 对投资者来说最常见的就是以美元整数额购买，如5 000美元。
Worth: 表示价值多少，$5 000 worth:价值5000美圆
The fund's transfer agent can confirm the purchase of fractional shares, typically up to 3 decimal places. 基金销售代理人能够接受零额购买，通常可达到小数点后三位。
Shares are not commonly delivered to investors so that distributions may be reinvested in new shares to achieve a compounding effect. (基金支持的) 股票通常并不移交给投资人，这样能使收益分配再投资于新的股票以取得复合效应。
Although individual stocks may offer dividend reinvestment plans, the mutual fund offers it, in effect, on an entire portfolio. 尽管个股也可能提供股利再投资计划，但实际上共同基金是对整个投资组合提供这种计划。
Most load funds offer reduced sales charges to investors buying in dollar amounts above certain levels. The levels at which these charges come into effect are called breakpoints. If an
investor makes a purchase at or over the breakpoint the reduced sales charge applies to the entire purchase, not just the portion in excess of the breakpoint. Some funds also offer rights of accumulation which allow the investor to count the current market value of his holdings toward satisfaction of a breakpoint. This feature offers a reward to the small investor who may be loyal to the fund but never invests enough to meet the reduced sales charge requirement. For example, suppose an investor has a current market value in XYZ fund shares of $8 700 and wants to invest another $1 500. If the fund has a breakpoint at $10 000, the entire investment is made at the lower charge, because when added to his current holdings, the new investment carries him over the breakpoint. The investor does not receive any refund of previously paid charges, but all subsequent investments are made at the new, lower level until the next breakpoint is reached, where the process starts anew.
Most load funds offer reduced sales charges to investors buying in dollar amounts above certain levels. 当投资者购买基金的美元总额超过一定标准时，大多数收费基金向投资者收取的销售费用会逐渐降低。
The levels at which these charges come into effect are called breakpoints. 达到能使销售费用降低的投资额标准称为临界点。
If an investor makes a purchase at or over the breakpoint the reduced sales charge applies to the entire purchase, not just the portion in excess of the breakpoint. 如果投资者在临界点水平或超过此水平购买，则降低的销售费用就适用于全部投资而不仅仅适用于超过临界点水平的那部分投资。
Some funds also offer rights of accumulation which allow the investor to count the current market value of his holdings toward satisfaction of a breakpoint. 一些基金也提供积累的权利，它允许投资者依靠其持有的基金份额的当前市值总额达到临界点要求而享受费用降低的好处。
This feature offers a reward to the small investor who may be loyal to the fund but never invests enough to meet the reduced sales charge requirement.这种工具为那些可能对基金非常忠诚但其每次投资额从未达到可降低销售费用标准的小额投资者提供了一种回报。
For example, suppose an investor has a current market value in XYZ fund shares of $8 700 and wants to invest another $1 500. 例如，假设一个投资者拥有当前市值为8,700美元的XYZ基金份额，并想追加投资1 500美元。
If the fund has a breakpoint at $10 000, the entire investment is made at the lower charge, because when added to his current holdings, the new investment carries him over the breakpoint.如果该基金的临界点为l0 000美元，该投资者的投资就可以在较低的费用基础上进行，因为新的投资加入到他当前持有的总额中使得他的总投资超过了临界点。
The investor does not receive any refund of previously paid charges, but all subsequent investments are made at the new, lower level until the next breakpoint is reached, where the process starts anew.对于以前已经支付的费用投资者不会获得任何补偿。但是所有随后的投资将在一个新的,较低的费用标准上进行，直到达到下一个临界点开始重新执行新的标准。
Most mutual funds can also be purchased in small amounts. Some funds require a minimum purchase amounts like $1 000 or $2 500. Subsequent purchases, however, can often be
made in much smaller amounts, like $50, or even less. Others have no minimum purchase requirement at all. Investors can usually open a voluntary accumulation plan or an open account. This allows the investor to make purchases at any time merely by mailing in a check or having the payment regularly deducted from a checking account. If pursued on a regular basis monthly, for instance ~the investor can take advantage of dollar cost averaging. The advantage of this system is that is leads to establishing a holding with a lower average cost per share than the average prices per share on the purchase dates.
Most mutual funds can also be purchased in small amounts. 大多数基金也能以小额资金购买。Some funds require a minimum purchase amounts like $1 000 or $2 500. Subsequent purchases, however, can often be made in much smaller amounts, like $50, or even less. 有一些基金要求最低购买额，如1 000美元或2 500美元，然而随后的购买经常能在更小的金额基础上进行，如50美元甚至更少。
Others have no minimum purchase requirement at all. 有些基金根本就没有最低购买额要求。Investors can usually open a voluntary accumulation plan or an open account.投资者通常可开立自愿积累计划或一一开放账户。
This allows the investor to make purchases at any time merely by mailing in a check or having the payment regularly deduct ed from a checking account. 它允许投资者随时购买基金而仅仅通过用支票寄款或定期地从支票账户上扣除的方式支付。
Deduct: to take away an amount or part from a total 扣除，减少
If pursued on a regular basis monthly, for instance ---the investor can take advantage of dollar cost averaging. 如果在定期的基础上购买——比如每月一次——投资者可以利用美元成本平均法。
The advantage of this system is that it leads to establishing a holding with a lower average cost per share than the average prices per share on the purchase dates.这种方法的优点在于能以低于购买日每股平均价的每股平均成本建立持有的基金资产。
For example, suppose an investor buys $100 in fund shares on the first of each month. Because the market price is bound to fluctuate, the payment will buy more shares when the price is low and fewer shares when the price is high. Suppose further that the market prices per share were $10, $11, $12, and $8 on each of the first 4 months of the plan. The investor would have purchased 10, 9.09, 8.33, and 12.5 shares, respectively. In other words, a $400 investment bought 39.92 shares, an average cost of $10.02 per share. The average price, on the other hand, was $10.25. The plan works, however, only if the market continues its customary long-term advance, and if the investor continues to make payments during those inevitable periodic (and frightening) declines which may last months, or even years.
For example, suppose an investor buys $100 in fund shares on the first of each month. 例如，假设一个投资者在每月的第一日买入100美元的基金份额。
Because the market price is bound to fluctuate, the payment will buy more shares when the price is low and fewer shares when the price is high. 由于市场价格肯定处于波动之中，因此，当基金价格较低时，就能买入较多的份额，而价格较高时买入的份额就较少。
Suppose further that the market prices per share were $10, $11, $12, and $8 on each of the first 4
months of the plan. 进一步假设，在本计划的头四个月中每个月的每股市价分别是10、11、12和8美元。
The investor would have purchased 10, 9.09, 8.33, and 12.5 shares, respectively. In other words, a $400 investment bought 39.92 shares, an average cost of $10.02 per share. The average price, on the other hand, was $10.25. 投资者将分别买入10、9.09、8.33和12.5份。换句话说，400美元共买入39.92份基金，每股平均成本l0.02美元而平均价格是10.25美元。
The plan works, however, only if the market continues its customary long-term advance, and if the investor continues to make payments during those inevitable periodic (and frightening) declines which may last months, or even years.然而仅仅当市场继续他的常规的长期发展，并且在那些不可避免的周期性的(令人恐惧的)可能持续数月甚至数年的市场下跌期间投资者仍继续地进行定期支付时，该计划才能奏效。
Investors should, however, be wary of the "contractual" of "periodic payment plan." In this type of plan, the investor commits to a monthly payment of a set amount for a fixed period, for example, 120 payments spread over 10 years. Although if completed, such plans may produce beneficial results, their early cancellation often leads to a loss. This is because much of the sales charge for the entire plan (if completed) is deducted in the first few years. As much as 50% of the first year's payments can be deducted in sales charges, although 20% is probably more common. The plans are often sold to inexperienced investors who are unaware that a voluntary plan with no prepaid sales charge is usually available from the same fund.
Investors should, however, be wary of the "contractual" of "periodic payment plan." 然而，投资者应对“契约式”或“定期支付计划”持谨慎态度。
In this type of plan, the investor commits to a monthly payment of a set amount for a fixed period, for example, 120 payments spread over 10 years. 在这种类型的计划中，投资者承担了在固定时期内每月进行既定金额的支付的义务。例如，在10年内支付120次。
Although if completed, such plans may produce beneficial results, their early cancellation often leads to a loss. 尽管如果计划正常结束可能给投资者带来有益的结果，但一旦计划提前结束，就经常会导致损失。
This is because much of the sales charge for the entire plan (if completed) is deducted in the first few years. 因为对于整个计划来说，大部分销售费用都已经在最初的几年内扣除了(如果计划完全执行的话)。
As much as 50% of the first year's payments can be deducted in sales charges, although 20% is probably more common. 投资者第一年的支付中可能有50 ％被扣减以支付销售费用，尽管20 ％的比例更为常见。
The plans are often sold to inexperienced investors who are unaware that a voluntary plan with no prepaid sales charge is usually available from the same fund.这些计划通常出售给那些没有经验的投资者，因为他们并不知道可以由同一家基金得到无须提前支付销售费用的自愿性计划。
Prospectus Requirement
Mutual funds are constant offerings of new issues. The buyer of mutual fund shares is buying directly from the issuer, not from a previous owner, such as an investor buying stock on the NYSE.
Consequently, all mutual fund purchases are new issues and receive the protection of the Securities Act of 1933. This means that all purchases (and solicitations to purchase) must be accompanied with a prospectus. Unfortunately, many investors do not take the time to read this informative document which gives the details of such considerations as sales charges, management fees, and investment policies. Those with established accounts receive a new prospectus annually, but anyone interested in making a purchase can receive one upon request. Closed-end funds, on the other hand, are traded in the secondary market like ordinary shares. The purchase of these shares is not accompanied by a prospectus unless the transaction involves the initial public offering.
Prospectus Requirements招股说明书要求
Mutual funds are constant offerings of new issues. 共同基金不断地发行新的基金证券。
The buyer of mutual fund shares is buying directly from the issuer, not from a previous owner, such as an investor buying stock on the NYSE. 共同基金份额的买方可以直接从发行人手中购买，而不像投资者在纽约股票交易所购买股票那样要从其前持有者手中购买。Consequently, all mutual fund purchases are new issues and receive the protection of the Securities Act of 1933. 因而共同基金的所有购买行为都是证券的新发行行为，并受到1933年证券法的保护。
This means that all purchases must be accompanied with a prospectus. 这意味着对于所有的购买行为都应同时附有招股说明书。
Unfortunately, many investors do not take the time to read this informative document which gives the details of such considerations as sales charges, management fees, and investment policies. 令人遗憾的是，许多投资者并没有花费时间去阅读这份信息文件。它给出了像销售费用、管理费用和投资政策等方面的详细说明。
Those with established accounts receive a new prospectus annually, but anyone interested in making a purchase can receive one upon request. 投资者和声誉良好的会计师每年都会收到一份新的招股说明书。但任何想购买基金的人一旦需要也能得到一份。
Closed-end funds, on the other hand, are traded in the secondary market like ordinary shares. The purchase of these shares is not accompanied by a prospectus unless the transaction involves the initial public offering.相反，由于封闭式基金在二级市场像普通股一样交易，这些基金的购买一般就不附有招股说明书，除非交易行为涉及基金份额的首次公开发行。
Distribution of Mutual Fund
All investment companies receive distributions when the securities in their portfolios make dividend or interest payments. Most (but not all) funds pay these distributions to their share holders, after first deducting the operating expenses of the fund--primarily the management fee, but also including prospectus-related expenses, legal and accounting fees, and the likes. The fund itself pays no taxes as long as it distributes a minimum of 90% of net investment income to shareholders. Most funds pay all, or almost all, of net investment income to shareholders, who in turn incur the tax liabilities that were passed along by the fund.
All investment companies receive distributions when the securities in their portfolios make dividend or interest payments. 当基金资产组合中的证券得到股利或利息支付时，所有的投资
公司也会获得分配的收益。
Most (but not all) funds pay these distributions to their share holders, after first deducting the operating expenses of the fund--primarily the management fee, but also including prospectus-related expenses, legal and accounting fees, and the likes. 大多数(但不是全部)基金首先会扣除基金经营费用——主要是管理费，但也包括与招股说明书相关的费用、法律和会计费用以及类似的费用，之后会将这些收益分配给股东。
The fund itself pays no taxes as long as it distributes a minimum of 90% of net investment income to shareholders.只要将其净投资收入的至少90 ％分配给股东，基金本身就无需为收入纳税。
Most funds pay all, or almost all, of net investment income to shareholders, who in turn incur the tax liabilities that were passed along by the fund.大多数基金将全部的或几乎是全部的净投资收入分配给股东，股东则担负有基金传递过来的对所得收入纳税的义务。
If the fund has realized net trading prof its during the year, these too are passed on to shareholders. These capital gains distributions are either long or short-term based on the fund's holding period of the securities sold, not the investor's holding period of the fund. Hence, an investor could receive a long-term capital gain on shares purchased last week. Mutual funds are not allowed to distribute net losses to shareholders, but may carry them forward to offset possible future profits.
If the fund has realized net trading profits during the year, these too are passed on to shareholders. 如果基金在该年度实现了净交易利润，这些利润也分配给股东。
These capital gains distributions are either long or short-term based on the fund's holding period of the securities sold, not the investor's holding period of the fund. 这些资本利得的分配可能是短期也可能是长期的，这决定于基金持有已出售的证券的时间长短而不是投资者持有基金的时间的长短。
Hence, an investor could receive a long-term capital gain o n shares purchased last week. 因此，投资者能够因刚刚在上周购买的基金份额而获得基金的长期资本利得的分配。
Mutual funds are not allowed to distribute net losses to shareholders, but may carry them forward to offset possible future profits. 共同基金不允许将净损失向基金投资者摊销，但允许继续保留净损失以抵消可能的未来盈余。
Redemption of Mutual Fund
Mutual fund shareholders may liquidate their holdings by redeeming their shares through the fund's transfer agent, usually a bank specializing in such services. 共同基金的股东可以通过要求基金的销售代理人赎回基金份额来变现其投资，通常是银行专门充当销售代理人的角色。The investor mails the request to the transfer agent, enclosing a signed stock power with a signature guarantee provided by a bank, a brokerage firm, or certain other financial institutions.投资者将其赎回要求通知销售代理人，并附上一张由一家银行、经纪公司或某些其他金融机构具名担保的已签署生效的股票账户证明，
Upon receipt, the transfer agent liquidates the shares at the net asset value established at the close of business on the NYSE that day.一旦收到通知和股票账户证明，销售代理人就按纽约证券交易所当天闭市时基金的净资产值变现这部分基金份额。
This is generally true even if the underlying securities are bonds or other securities not traded on
the NYSE. 即使基金持有的证券是债券或不在纽约证券交易所交易的其他证券时通常也是如此。
By prior arrangement with the fund, shareholders may liquidate (and move to other funds within the same group ) by telephone.通过与基金的事先约定，股东可用电话通知的方式赎回基金(或在同一集团内转而投资其他基金)。
One of the unfortunate side effects of this convenience is that it has spawned a new sub-industry of "market timers" who claim to be able to select the correct fund in which to be invested on a short-term trading basis. The provider of this advice usually sells a newsletter with a telephone "hotline" service. The process appears largely self-defeating because the investor is already paying the fund's manager a fee for investment selection. No convincing evidence has yet emerged to verify the claims of the "telephone switchers," and, indeed, it seems as unlikely to do so as similar claims made by other market technicians. Although trading securities aggressively is sometimes welcomed by brokers because of the increased commission revenues, it has infrequently been shown to benefit individual investors. Because mutual funds are designed to be "buy-and-hold" investments, there is little reason for shareholders to do otherwise.
One of the unfortunate side effects of this convenience is that it has spawn ed a new sub-industry of "market timers" who claim to be able to select the correct fund in which to be invested on a short-term trading basis. 这种便捷所造成的不利效应之一就是它刺激产生了一种新的分支行业“市场即时热线”，他们声称能选择适合进行短期投资交易的基金。
The provider of this advice usually sells a newsletter with a telephone "hotline" service. 这种建议的提供者通常利用电话“热线”服务出售信息简报。
The process appears largely self-defeating because the investor is already paying the fund's manager a fee for investment selection. 这种业务大部分最终自我失败，因为投资者已经通过向基金管理人付费的方式委托其进行投资选择。
No convincing evidence has yet emerged to verify the claims of the "telephone switchers," 没有令人信服的证据表明那些“市场即时热线”的选择是正确的。
And, indeed, it seems as unlikely to do so as similar claims made by other market technicians. 实际上，这种业务似乎不可能成功，因为类似的投资判断也可能由其他市场分析家作出。Although trading securities aggressively is sometimes welcomed by brokers because of the increased commission revenues, it has infrequently been shown to benefit individual investors. 尽管大量而频繁的进行证券交易有时受到经纪人的欢迎，因为经纪人的佣金收入会增加，但这并不能表明对个人投资者有益。
Because mutual funds are designed to be "buy-and-hold" investments, there is little reason for shareholders to do otherwise.因为设计共同基金的目的就是“买入以及持有”式投资，几乎没有理由让投资者进行频繁地买进卖出。
Redemption can also be made with some funds through check-writing privileges. This is common, as noted earlier, with money market funds, but is sometimes offered by more conventional funds. Upon request, the shareholder receives a check book that allows shares to be redeemed by writing a check for the desired dollar amount. The transfer agent liquidates the correct number of shares and instructs the bank on which the check is drawn to honor the payment request.
Redemption can also be made with some funds through check-writing privileges. 有些基金也可以通过填写支票的特有方式进行赎回.
This is common, as noted earlier, with money market funds, but is sometimes offered by more conventional funds. 正像前面所指出的，这常见于货币市场基金，但有时更多的普通基金也会利用此方式。
Upon request, the shareholder receives a check book that allows shares to be redeemed by writing a check for the desired dollar amount. 一旦发出赎回要求后，股东就会收到一个允许份额赎回的支票账簿。股东需填写所需的美元数额的支票。
The transfer agent liquidates the correct number of shares and instructs t he bank on which the check is drawn to honor the payment request. 销售代理人将核实变现后的正确的份额并指示支票账户所在的银行兑现支票以支付给投资者现金。
Some funds also have a rarely used redemption option called "redemption in kind." These funds, frequently the aggressive growth variety, tend to draw investors seeking quick gains.Some of these investors jump from fund to fund in a chase after the best performance. If they invest large sums, a redemption request may force a fully invested portfolio manager to liquidate investments in order to realize cash. If large numbers of shareholders try this at the same time, the remaining shareholders may be disadvantaged as the fund might have to sell off some its best performing securities. In such cases, the fund may instead deliver to redeeming shareholders securities from the portfolio in the same dollar value as the cash that otherwise would have been paid.
Some funds also have a rarely used redemption option called "redemption in kind."
These funds, frequently the aggressive growth variety, tend to draw investors seeking quick gains. 也有些基金有一种很少使用的赎回方式，称为“以实物赎回(以货代款，)”。这些基金大部分属于进取增长型基金，倾向于使投资者快速获利。
Some of these investors jump from fund to fund in a chase after the best performance. 一些投资者不停地从一家基金跳到另一家基金，不停地追逐业绩表现最好的基金。
If they invest large sums, a redemption request may force a fully invested portfolio manager to liquidate investments in order to realize cash.如果他们的投资额很大，一项赎回要求可能迫使一个已将资金全部投资的资产组合管理人变现投资以取得现金。
If large numbers of shareholders try this at the same time, the remaining shareholders may be disadvantaged as the fund might have to sell off some its best performing securities. 如果有大量的股东同时提出赎回要求，其余的股东就会处于不利的地位，因为基金可能不得不卖掉其资产组合中一些业绩最好的证券。
In such cases, the fund may instead deliver to redeeming shareholders securities from the portfolio in the same dollar value as the cash that otherwise would have been paid.在这种情况下，基金可以向要求赎回的股东交付同样美元价值的基金资产组合中的证券，以代替要支付的现金。
Performance of Mutual Fund
The advantages of diversification are well explained by modem portfolio theory. For convenience and flexibility the mutual fund has no serious rivals in the investment field. Claims of
superior performance resulting from professional management, however, are less convincing. Spectacular successful performance during the 1980s may obscure the fact that the typical managed portfolio has often underperformed the unmanaged indexes like the Standard & poor's 500. In short, the costs associated with portfolio management may tip marginally superior performance to underperformance. For many investors, this may be a clue that the best advice is no advice. They should seek out funds with the demonstrably lowest costs, in particular the index funds which merely aim to replicate indexes-not outperform them. In the long run, such performance has been most attractive.
Performance业绩表现(业绩情况)
The advantages of diversification are well explained by modem portfolio theory. 多元化投资的优势已经被现代资产组合理论充分阐释。
For convenience and flexibility the mutual fund has no serious rivals in the investment field. 就方便与灵活性而言，共同基金在投资领域没有有力的竞争对手。
Claims of superior performance resulting from professional management, however, are less convincing. 然而优良的业绩来源于专业化的管理的说法并不太令人信服。
Superior performance, superior performing, best performing: 优良的业绩
Spectacular successful performance during the 1980s may obscure the fact that the typical managed portfolio has often underperformed the unmanaged indexes like the Standard & poor's 500. 像20世纪80年代基金投机那样成功的表现可能掩盖了下列事实：即，典型的专业管理的证券组合的业绩表现经常低于无管理的指数如标准普尔500指数的表现。
Obscure: 掩盖，遮盖
In short, the costs associated with portfolio management may tip marginally superior performance to underperformance. 简而言之，与资产组合管理有关的成本的存在可能使优良的业绩稍微向较差的业绩倾斜。
Tip: v. 倾斜，tip A to B: 使A向着B倾斜
For many investors, this may be a clue that the best advice is no advice. 对许多投资者来说，这可能是一种暗示：最好的建议等于没有建议。
They should seek out funds with the demonstrably lowest costs, in particular the index funds which merely aim to replicate indexes-not outperform them. 他们应当选择显而易见的最低成本的基金，特别是指数基金，他们的目标仅在于与指数保持一致——而不是优于指数。
In the long run, such performance has been most attractive. 从长期来看，此类基金的业绩表现最富于吸引力。
Replicate: 复制
That’s all for the introduction of Mutual Funds in the United States, We mainly talked about the fees, purchase method, prospectus requirements, distribution, performances of the fund. Thanks for your listening.
本章以共同基金为例对基金的费用、购买方式、招股说明书要求、收益分配、业绩表现。
Financial Instrument Exercises 1
1__Commercial paper is short-term, discounted and unsecured corporate debt of large American banks and companies issued, usually for one to three months only, as a way of borrowing money. 商业票据是一种短期的，以贴现的方式表达的，无担保的的公司债务，作为一种融资手段，发行者通常是大型美国银行和公司，到期日通常是一到三个月。
2 _Zero coupon bonds_ pay no interest, but are sold at a large discount and ultimately redeemed at face value. They consequently yield capital gains. 零息债券指不支付利息的债券，发行是贴现发行，（即以低于面值的价格发行，到期时按面值还本），面值与发行价的差额既是投资人的资本利得。
3_Detachable warrants__ are sometimes issued with bonds, and give the buyer the right to buy the same firm's equities within a certain period. Unlike convertible bonds, the bond itself is not converted into shares.
分离式认股权证：发行债券或其他证券时所附送的，（但随后可分拆出来在二级市场独立交易的认股权证），授予持有人以约定的价格认购公司的新股或新债的权利。那么这种附有认股权证的的债券被称做：Warrant Bonds , 这种债券的票面利率通常低于不附有认股权证的同类债券。句子中还提到Unlike convertible bonds, the bond itself is not converted into shares. 意思是与可转换债券不同，the bond附有认股权证的的债券本身是不能转换为股票的。Do you still remember what is a convertible bonds? As we mentioned before, ―A common type of conversion feature is one that allows the bond to be exchanged at its face value for shares of common stock in the company issuing the bonds.‖一种很常见的转换特征是允许债券按其面值转换成发行债券公司的普通股。So, the distinguishing feature between convertible bonds and Warrant bonds is that Warrant Bonds can not be converted into shares.
4__Securitization_is the process of selling packages of bank debts to third party investors as bonds. It shifts the risk of default from the bank to the new owners, and releases capital with which the bank can make new loans. 资产证券化：指一组银行的债务组合起来作为证券出售给第三方投资者。证券化将银行的债务的违约风险转移给其新的拥有者，证券化产生新的资金可用于银行发放新的贷款。
5_Junk bonds are high-yielding bonds issued by less secure companies and by companies seeking to finance leveraged buy-outs.
垃圾债券是一种高收益债券，由一些刚营业不久，赢利记录和公司信誉还暂时不明朗的公司发行；有的垃圾债券是有一些想要为杠杆收购融资的公司发行的。
6. A borrower with a lot of floating loans can spread the risk via an interest-rate swap with a borrower of fixed rate loans. 一个借了许多浮动利率贷款的借款者可以通过与一个借了许多
固定利率的贷款者通过利率互换来分散风险。
7. An importer who will need foreign exchange in three or six months time can buy it in advance by way of a_ futures contract 一个在3或6个月后需要外汇的进口方可以通过远期合约的方式提前购买。
8. Banks can convert large deposits that cannot be withdrawn on demand into ___ certificates of deposit：short-term, interest-bearing securities that can be traded like a share or bond. 银行可以把大额的不能随时取出的存款转换为certificates of deposit 存款单或存款证：这是一种短期的，有利息的证券，可以像股票或债券一样进行交易
9. Debt swaps, letters of credit, options, etc. are all forms of financial business that need not be registered as loans on a balance sheet. They are consequently known as off-balance-sheet transactions__ 债务互换，信用证，期权等不同形式的金融业务不需要在资产负债表上登记，因此，他们被称为表外业务。
10. Futures markets deal in contracts for standardized quantities of commodities, currencies, etc. for specific time periods. Non-standardized deals can be negotiated in an over-the-counter forward contract _ 期货市场交易的合约承诺在将来的某个时间以当前约定的价格交易标准数量的商品、货币等等。期货合约必须是在期货交易所买卖的标准化合约。Non-standardized deals can be negotiated in an over-the-counter forward contract _ 非标准化交易可以通过场外交易的远期合约达成。This sentence tells us the difference between futures and forwards contract: Futures are always traded on an exchange, whereas forward contract always trade over-the-counter; Futures are highly standardized, whereas each forward contract is unique （每一个远期合约都是买卖双方量身定制的。
11. Issuing__ participation certificates ___which grant their holder part of the ownership of a company, but without voting rights - rather than shares, diminishes the risk of takeovers. 参与证书
12. Two borrowers, each with a better credit rating in their own country, but also needing foreign
currency, can arrange a___ currency swap 两位借款者在各自的国家都有很好的信用等级，但是需要外汇，他们就可以安排一个货币互换。
Financial Instrument Exercises 2
Match up the following words (using them more than once if necessary) to make up at least ten two-word nouns:
call contract financial forward futures
instrument market materials option price
primary product raw spot strike call option, financial market, financial instrument, forward contract, forward market, futures market, market price, primary market, raw materials, spot market, spot price, strike price, etc. EXERCISE 3
Match up the following words or expressions to make eight pairs of opposites:
call option discount drought exercise price
flood futures market hedging in-the-money
market price obligation out-of-the-money premium
put option right speculation spot market
call option-put option; discount-premium; drought-flood; exercise price-market price; futures market-spot market; hedging-speculation; in-the-money – out-of-the-money; obligation – right. Add the words and expressions that complete the following sentences to the wordbox:
1. A ( ) receives a dividend before the other classes of share.(preference share)
2. An ( ) is one issued by a fairly new or small company, sold on a smaller stock exchange with fewer regulations than the big stock exchanges.(unlisted security)
3. A( ) is one of three names for new shares distributed to shareholders instead of a dividend.(bonus issue)
4. A ( ) is sometimes issued with a bond, giving the holder the right to buy the same company's
shares at a certain price.(warrant)
5. A ( ) is one that is considered risky, but which pays a high rate of interest.(junk bond)
6. A( ) pays no interest, but instead is issued at a discount (and of course redeemed at 100%).(zero coupon bond)
7. An ( ) gives the right to buy or sell an asset at a certain price on a certain date.(option)
8. A ( ) is the exchange of one security, currency, etc. for another.(swap)
9. A ( ) is a bond issued by the British government(gilt)
10. A ( ) is a short-term security issued by the Bank of England to regulate the money supply. (treasury bill)
11. An ( ) is the most common type of equity.(ordinary shares)
12. A ( ) is one whose owner is not registered with the issuing company.(bearer share) 不记名股票，持有者股票
13. A ( ) is one whose market price is expected to rise in the future.(growth stock)
14. A( ) is a loan to buy property, with the property (house, apartment, etc.) serving as a guarantee for the loan.(mortgage)
15. A ( ) is a security in a large, safe, profitable company. (blue chip)
16. ( ) is the American equivalent of ordinary shares in Britain.(common stock)
17. A ( ) does not receive any dividend payment until after other categories of shares have received theirs.(deferred share)
18. A ( ) is a bond issued by a company and secured by the company's assets.(debenture) 信用债券
19. A ( ) is a contract to deliver a commodity, security, currency, etc. at a pre-arranged date, with the price fixed when the contract is made.(future)
20. A( ) consists of new shares offered at below their nominal value to existing shareholders.(rights issue) （优惠股）
Financial Ratios
A ratio is the number obtained when one number is divided by another. V arious financial ratios are used to measure profitability, solvency（清偿债物能力）, liquidity, efficiency, etc.
Match the explanations on this page with the ratios.
The current ratio (or working capital) measures liquidity - i.e. having enough cash to meet short-term obligations. It shows if a business can pay its most urgent debts. 流动比率
人教版高中生物必修三教材分析 一、教材编写的时代背景 随着时代的发展和社会的进步，我国先前的教育模式已经暴露出了很多弊端，不能适应当前时代和社会发展的需要。于是我国先后进行了多次较大的课程改革。据我们比较近的是：（1） 2001年6月教育部颁布了《基础教育课程改革纲要（试行）》强调“大力推进基础教育课程改革，调整和改革基础教育的课程体系、结构、内容、构建符合素质教育要求的新的基础教育课程体系。（2）2003年《普通高中生物课程标准（试验）》颁布，高中生物新课程改革正式拉开序幕。 按照《纲要》和《课程标准》的具体要求，我国中学生物教材采用“一标多本”的方式编制。目前，经国家中小学教材委员会审定通过的高中生物课程标准试验教材共5个版本：人教版、北师大版、苏教版、河北版、山东版。每个版本具有自己的编排体系和特色，不同的地区不同的学校可根据自己的实际情况选择合适的版本，“一标多本”让使用者有选择的权利。 二、地位与作用 人教版高中生物教材将内容划分为6个学习模块，由3个必修模块（分子与细胞、遗传与进化、稳态与环境）和3个选修模块（生物技术实践、生物科学与社会、现代生物科技专题）组成。必修模块选择的是生物科学的核心内容，同时也是与社会和个人生活关系最密切的领域。选修模块是为了满足学生多样化发展的需要而设计的。模块之间既相互独立，又具有内容的内在联系。因为每一模块都有明确的教育目标，并围绕某一特定内容，整合学生经验和相关内容，构成相对完整的学习单元。所以说是相对独立的。但我们可以看到从必修一到必修三知识内容安排上是从细胞研究到生态系统研究，有一个从微观到宏观的编排趋势，而且必修三的学习必须以必修一和必修二内容为基础。选修模块的学习必须以必修模块为基础。所以说模块之间同样存在相互联系。必修三是必修一和二知识的延伸，是选修内容的基础，是高中生物知识框架中必不可少的组成部分。 三、内容结构分析 本模块的内容包括人体的内环境与稳态、动物和人体生命活动的调节、植物的激素调节、种群和群落、生态系统及其稳定性、生态环境的保护六部分。纵向看这六个部分是以细胞、个体、种群、群落、生态系统这样一个层次结构进行安排的。横向具体内容则以各层次稳态的维持为主线展开的。模块首先从单细胞草履虫直接与外界环境进行物质交换，进而引出多细胞生物细胞生活的环境------内环境，再由内环境引出稳态的概念，说明内环境稳态的重要性，之后随着生物学的发展，人们认识到不仅人体的内环境存在稳态，而且各个层次的生命系统的存在和发展都需要保持稳态，随即将稳态的概念延伸至个体、种群、群落以及生态系统。外界的环境在不断地发生变化，要维持稳态就必须进行调节，动物和人体生命活动可以通过神经系统的调节、激素调节、免疫调节，其中激素调节是体液调节的主要内容，而体液调节和神经调节经常协同发挥作用，具体是怎么协调的呢，本章特介绍了神经调节和体液调节的关系。植物主要通过激素调节，生长素的发现揭示了植物生命活动调节的奥秘，生长素的生理作用是什么呢？还有没有其他植物激素呢？在本章会一一解答。 从个体水平看，生物能通过自身的调节作用维持稳态，完成各种生命活动，而在自然界，任何生物都不是孤立存在的。在一定的自然区域内，同种生物的全部个体形成种群，同一时
（第1课时） 课题 §2.1数列的概念与简单表示法 ●教学目标 知识与技能：理解数列及其有关概念，了解数列和函数之间的关系；了解数列的通项公式，并会用通项公式写出数列的任意一项；对于比较简单的数列，会根据其前几项写出它的个通项公式。 过程与方法：通过对一列数的观察、归纳，写出符合条件的一个通项公式，培养学生的观察能力和抽象概括能力． 情感态度与价值观：通过本节课的学习，体会数学来源于生活，提高数学学习的兴趣。 ●教学重点 数列及其有关概念，通项公式及其应用 ●教学难点 根据一些数列的前几项抽象、归纳数列的通项公式 ●教学过程 Ⅰ.课题导入 三角形数：1，3，6，10，… 正方形数：1，4，9，16，25，… Ⅱ.讲授新课 ⒈ 数列的定义：按一定次序排列的一列数叫做数列. 注意：⑴数列的数是按一定次序排列的，因此，如果组成两个数列的数相同而排列次序不同，那么它们就是不同的数列； ⑵定义中并没有规定数列中的数必须不同，因此，同一个数在数列中可以重复出现. ⒉ 数列的项：数列中的每一个数都叫做这个数列的项. 各项依次叫做这个数列的第1项（或首项），第2项，…，第n 项，…. 例如，上述例子均是数列，其中①中，“4”是这个数列的第1项（或首项），“9”是这个数列中的第6项. ⒊数列的一般形式： ,,,,,321n a a a a ，或简记为{}n a ，其中n a 是数列的第n 项 结合上述例子，帮助学生理解数列及项的定义. ②中，这是一个数列，它的首项是“1”，“ 3 1 ”是这个数列的第“3”项，等等 下面我们再来看这些数列的每一项与这一项的序号是否有一定的对应关系？这一关系可否用一个公式表示？（引导学生进一步理解数列与项的定义，从而发现数列的通项公式）对于上面的数列②，第一项与这一项的序号有这样的对应关系： 项 1 51 413121 ↓ ↓ ↓ ↓ ↓ 序号 1 2 3 4 5 这个数的第一项与这一项的序号可用一个公式：n a n 1 = 来表示其对应关系 即：只要依次用1，2，3…代替公式中的n ，就可以求出该数列相应的各项 结合上述其他例子，练习找其对应关系
必修一 《分子与细胞》 （一）走近细胞 一、细胞的生命活动离不开细胞 1、无细胞结构的生物病毒的生命活动离不开细胞 生活方式：寄生在活细胞 病毒分类：DNA病毒、RNA病毒 遗传物质：或只是DNA，或只是RNA（一种病毒只含一种核酸） 2、单细胞生物依赖单个细胞完成各种生命活动。 3、多细胞生物依赖各种分化的细胞密切合作，完成复杂的生命活动。 二、生命系统的结构层次 细胞组织器官系统个体种群群落生态系统生物圈 （种群群落生态系统三者实例的判断，看以前练习） 除病毒以外，细胞是生物体结构和功能的基本单位，是地球上最基本的生命系统。 三、高倍显微镜的使用 1、重要结构 光学结构：镜头目镜——长，放大倍数小 物镜——长，放大倍数大 反光镜平面——调暗视野 凹面——调亮视野 机械结构：准焦螺旋——使镜筒上升或下降（有粗、细之分） 转换器——更换物镜 光圈——调节视野亮度（有大、小之分） 2、步骤：取镜安放对光放置装片使镜筒下降使镜筒上升低倍镜下调清晰，并移动物 像到视野中央转动转换器，换上高倍物镜缓缓调节细准焦螺旋，使物像清晰 注意事项： （1）调节粗准焦螺旋使镜筒下降时，侧面观察物镜与装片的距离； （2）首先用低倍镜观察，找到要放大观察的物像，将物像移到视野中央（粗准焦螺旋不动），然后换上高倍物镜； (3) 换上高倍物镜后，“不准动粗”。(4) 物像移动的方向与装片移动的方向相反。 3、高倍镜与低倍镜观察情况比较 物像大小看到细胞数目视野亮度物像与装片的距离视野范围 高倍镜大少暗近小 低倍镜小多亮远大 四、病毒、原核细胞和真核细胞的比较 原核细胞真核细胞病毒 大小较小较大最小 本质区别无以核膜为界限的细胞核有以核膜为界限的真正的细胞核无细胞结构 细胞壁主要成分是肽聚糖植物：纤维素和果胶；真菌：几丁质； 动物细胞无细胞壁 无 细胞核有拟核，无核膜、核仁，DNA 不与蛋白质结合有核膜和核仁，DNA与蛋白质结合成 染色体 无 细胞质仅有核糖体，无其他细胞器有核糖体线粒体等复杂的细胞器无 遗传物质DNA DNA或RNA 举例蓝藻、细菌等真菌，动、植物HIV、H1N1 误区警示 正确识别带菌字的生物：凡是“菌”字前面有“杆”字、“球”字、“螺旋”及“弧”字的都是细菌。如破伤风杆菌、葡萄球菌等都是细菌。乳酸菌是一个特例，它本属杆菌但往往把“杆”字省略。青霉菌、酵母菌、曲霉菌及根霉菌等属于真菌，是真核生物。 五、细胞学说的内容（统一性）
Unit 10 Money Warm-up & Lesson 1 A Material World 一、根据句意及首字母或汉语提示完成句子 1We shouldn’t ignore the problems that e in our study. 2I didn’t have enough money to buy a new bicycle,so I bought a (二手的) one. 3He is such a g man—he’ll never be satisfied. 4The discovery of DNA was a major scientific a in last century. 5He spent several years in Paris,so he could speak French (流利地). 6Not only was Edison intelligent,but he was h ,both of which contributed to his great success. 7He was punished because he was r to his teacher. 8He (赚) more than $5,000 a month. 9Are you a how important you are to y our family? 10If they can d the Italian team,they’ll be the winners. 二、用所给单词的适当形式填空 1Games can sometimes make learning more (enjoy).
必修一至必修三单词 survey 调查．测验 add up 合计 upset adj 心烦意乱的；不安的，不适的 ignore不理睬．忽视 have got to 不得不；必须concern（使）担比：涉及；关系到 n 担心；关注．（利害）关系 be concerned about 关心．挂念 walk the dog 遇狗 loose adj 松的．松开的 vet 兽医 go through 经历；经受Amsterdam 阿姆斯特丹（荷兰首都） Netherlands 荷兰（西欧国家） Jew 犹太人的；犹太族的German 德国的．德国人的.德语的. Nazi 纳粹党人 adj 纳粹党的 set down 记下；放下.登记series 连续，系列 a series of 一连串的．一系列；一套 outdoors在户外．在野外spellbind 迷住；迷惑purpose 故意 in order to 为了 dusk 黄昏傍晚 at dusk 在黄昏时刻thunder vi 打雷雷鸣 n 雷，雷声 entier adj 整个的；完全 的，全部的 entily ady. 完全地.全然地. 整个地 Power能力.力量．权力。 Face to face 面对面地 Curtain 窗帘；门帘．幕布 dusty adj 积满灰尘的 no longer /not … any longer 不再 partner 伙伴．合作者．合 伙人 settle 安家.定居.停留vt 使定居.安排.解决 suffer vt & 遭受；忍受经 历 suffer from 遭受．患病 loneliness 孤单寂寞 highway高速公路 recover痊愈；恢复． Get/be tired of 对…厌烦 Pack捆扎；包装打行李 n 小 包：包裹 pack ( sth ) up 将（东 西）装箱打包 suitcase手提箱；衣箱 overcoat大衣外套 teenager 十几岁的青少年 get along with 与…相处. 进展 gossip 闲话闲谈 fall in love 相爱；爱上 exactly 确实如此．正是； 确切地山 disagree 不同意 grateful感激的．表示谢意 的 dislike不喜欢．厌恶 join in 参加.加入 tip提示.技巧.尖；尖端.小 费倾斜；翻倒 secondly第二.其次 swap交换 item 项目.条款 subway ＜美＞地铁 elevator n 电梯；升降机 petrol ＜英＞汽油（ = ＜ 美＞ gasoline ) gas汽 油．气体．煤气；毒气。 official adj 官方的．正式 的.公务的 voyage n 航行．航海 conquer 征服.占领 because of 因为 native 本国的；本地的 n 本地人．本国人 come up 走 近，上来．提出 apartment＜美＞公寓住 宅．单元住宅 actually实际上，事实上 base根据 n 基部；基地，墓 础 at present 现在；目前 gradual 逐渐的.逐步的 enrich 使富裕；充实，改善 vocabulary 词汇.词汇量.词 表 make use of 利用使用 spelling拼写.拼法 latter 较后的后平的；（两 者中）后者的 . identity 本身.本体 fluent 流利的.流畅的 frequent adj 频繁的．常见 的 usage 使用.用法.词语惯用 法 command命令；指令；掌握 request请求；要求 dialect 方言 expression 词语；表示表达 midwestern 中西部的.有中 西部特性的 African adj 非 洲的：非洲人的；非洲语言 的 play a part ( in ）扮 演个角色：参与 lightning 闪电 straight 街区 cab出租车 journal日记；杂志．定期刊 物 transport运送．运输 Prefer更喜欢选择某事物而 不选择其他事物
课题：§1.1 集合 1 2 教材分析：集合概念及其基本理论，称为集合论，是近、现代数学3 的一个重要的基础。许多重要的数学分支，都是建立在集合理论的基4 础上。此外，集合理论的应用也变得更加广泛。 5 课型：新授课 6 课时：1课时 7 教学目标：1.知识与技能 8 （1）通过实例，了解集合的含义，体会元素与集合的理解集合“属9 于”关系； 10 （2）牢记常用的数集及其专用的记号。 11 （3）理解集合中的元素具有确定性、互异性、无序性。 12 （4）能选择自然语言、图形语言、集合语言（列举法或描述13 法）描述不同的问题。 14 2.过程与方法 15 （1）学生经历从集合实例中抽象概括出集合共同特征的过16 程，深入理解集合的含义。 17 （2）学生自己归纳本节所学的知识点。 18 3.情感态度价值观 19 使学生感受学习集合的必要性和重要性，增加学生对数20 学学习的兴趣。
教学重点：集合的概念与表示方法。 教学难点：对待不同问题，表示法的恰当选择。 21 教学过程： 22 一、引入课题 23 军训前学校通知：8月15日8点，高一年段在体育馆集合进行军训动员；试24 问这个通知的对象是全体的高一学生还是个别学生？ 25 在这里，集合是我们常用的一个词语，我们感兴趣的是问题中某些特定（是26 高一而不是高二、高三）对象的总体，而不是个别的对象，为此，我们将学习27 一个新的概念——集合（宣布课题），即是一些研究对象的总体。 28 阅读课本P 2-P 3 内容 29 二、新课教学 30 （一）集合的有关概念 31 1.集合理论创始人康托尔称集合为一些确定的、不同的东西的全32 体，人们能意识到这些东西，并且能判断一个给定的东西是否属于这个33 总体。 34 2.一般地，我们把研究对象统称为元素（element），把一些元素35 组成的总体叫做集合（set）（简称为集）。 36 3.关于集合的元素的特征 37
高中语文（苏教版）教材分析（必修一） 我省我市从今年秋季开始，高中进入新课程改革，高一语文使用的是苏教版的教材。对于这套新教材，不少教师还较陌生。如何使用好这套教材，贯彻新课程改革的理念，又能切实保证学生语文能力的提高，是我们广大语文教师的一大课题。本人学习了《高中语文课程标准》，对照人教版语文教材，对苏教版教材进行了分析，就如何从宏观整体和微观具体认识、分析、使用好这套教材谈谈自己的看法。 一、明确《语文课程标准》中“课程的基本理念”和“课程目标”，并以此作为教学的指导思想，贯穿落实在每一个教学环节。 三大理念：1、全面提高学生的语文素养，充分发挥语文课程的育人功能。 2、注重语文应用、审美与探究能力的培养，促进学生均衡而有个性地发展。 3、遵循共同基础与多样选择相统一的原则，构建开放、有序的语文课程。 五方面目标： 积累·整合----知识、能力的积累与融会贯通，是学好语文的基础。 “能围绕所选择的目标加强语文积累，在积累的过程中注重梳理。根据自己的特点，扬长补短，逐步形成富有个性的语文学习方式。了解学习方法的多样性，掌握学习语文的基本方法，能根据需要，采用适当的方法解决阅读、交流中的问题。通过对语文知识、能力、学习方法和情感、态度、价值观等方面要素的融会整合，切实提高语文素养。” 感受·鉴赏------建立在知识基础上整合而形成的语文基本能力。 “阅读优秀作品，品味语言，感受其思想、艺术魅力，发展想像力和审美力。具有良好的现代汉语语感，努力提高对古诗文语言的感受力。在阅读中，体味大自然和人生的多姿多彩，激发珍爱自然、热爱生活的感情；感受艺术和科学中的美，提升审美境界。通过阅读和鉴赏，深化热爱祖国语文的感情，体会中华文化的博大精深、源远流长，陶冶性情，追求高尚情趣，提高道德修养。” 思考·领悟----感受鉴赏基础上的深层次提升、吸收和内化（人文与知识）。 “根据自己的学习目标，选读经典名著和其他优秀读物，与文本展开对话。通过阅读和思考，领悟其丰富的内涵，探讨人生价值和时代精神，以利于逐步形成自己的思想、行为准则，树立积极向上的人生理想，增强为民族振兴而努力的使命感和社会责任感。养成独立思考、质疑探究的习惯，增强思维的严密性、深刻性和批判性，乐于进行交流和思想碰撞，在相互切磋中，加深领悟，共同提高。” 应用·拓展------实现在实际生活中的语文应用目的。 “能在生活和其他学习领域中，正确、熟练、有效地运用祖国语言文字。在语文学习中开阔视野，初步认识自己学习语文的潜能和倾向，根据需要和可能，在自己喜爱的方面有所发展。增强文化意识，重视优秀文化遗产的传承，尊重和理解多元文化，关注当代文化生活，学习对文化现象的剖析，积极参与先进文化的传播和交流。注重跨领域学习，拓展语文学习的范围，通过广泛的实践，提高语文综合应用能力。” 发现·创新----更高层次上的目标(学习语文的终极目标)。 “注意观察语言、文学和中外文化现象，学习从习以为常的事实和过程中发现问题，
高中语文必修一知识整理 第一专题知识整理 一、读准下列加点的字。 橘．子（jú）嬉．游（xī）澄．清（chéng）召．唤（zhào）凄．厉（qī）不驯．（xùn） 思忖．（cǔn）明澈．（chè）灰烬．（jìn）脊．骨（jǐ）摇曳．（yè）睫．毛（jié）瞳．孔（tóng）妥帖．（tiē）曙．光（shǔ）轻蔑．（miè）给．予（jǐ）叮咛．（níng）迂．回（yū）眺．望（tiào）甄．别（zhēn）撩．起（liāo）喧．响（xuān）狂妄．(wàng) 迷惘．（wǎng）炫．耀（xuàn）晨曦．（xī）商榷．（què）沉湎．（miǎn）宠．爱（chǒng）溺．爱（nì）怪癖．（pǐ）粘．贴（zhān）抹煞．（shā）犄．角（jī）摭．拾（zhí）诧．异（chà）横．蛮（hèng）颤．抖（chàn）冰雹．（báo）夭．折（yāo）擂．鼓（léi）碾．成（niǎn）焦灼．（zhuó）干瘪．（biě）藐．视（miǎo）刻薄．（bó）薄．片（báo）刹．那（chà）吮．吸（shǔn）恪．守（kè）赐．予（cì）钦．佩（qīn）教诲．（huì）沁．园春（qìn）坐标轴．（zhóu）峥嵘 ．．（chóu chàng） ．．（zhēng róng）吝啬 ．．（lìn sè）惆怅 祈祷 ．．（zhēn zhuó） ．．（tǎn tè）斟酌 ．．（niè shì）忐忑 ．．（kē bàn）啮噬 ．．（qí dǎo）磕绊 百舸．争流（gě）怅寥廓 ．．（liáo kuó）挥斥方遒．（qiú）浪遏．飞舟（è）开天辟．地（pì） 不屈不挠．（náo）絮絮 ．．（dāo）面面相觑．（qù）引吭．试啼（háng） ．．（xù）叨叨 自艾．自怜（yì）入不敷．出（fū）瞠．目结舌（chēng） 二、正确书写下列加点的字。 瞳孔曙光轻蔑沉湎晨曦摭拾急躁惆怅翱翔磕绊淘汰 蒙蔽恪守啮噬斟酌甄别商榷思忖妥帖犄角干瘪残骸 沁园春怅寥廓挥斥方遒 怙恶不悛瞠目结舌面面相觑 三、解释下列词语的意思。 激扬文字：激浊扬清，抨击恶浊的，褒扬善良的。 絮絮叨叨：形容说话啰嗦。 似水流年：像水一样流逝的光阴。流年，光阴。 废寝忘食：顾不得睡觉，忘记吃饭。形容非常专心努力。 其乐融融：形容和睦快乐的样子。 自艾自怜：埋怨上天,怪罪别人。 怨天尤人：尤，抱怨上天推及到他人。 入不敷出：收入不够开支。 望眼欲穿：形容盼望殷切。 鬼迷心窍：比喻受到迷惑。 妄自菲薄：毫无根据地看轻自己。指自轻自贱，自暴自弃。
第一章集合与函数概念 §1．1集合 1.1.1集合的含义与表示（第一课时） 教学目标：1.理解集合的含义。 2.了解元素与集合的表示方法及相互关系。 3.熟记有关数集的专用符号。 4.培养学生认识事物的能力。 教学重点：集合含义 教学难点：集合含义的理解 教学方法：尝试指导法 教学过程： 引入问题 （I）提出问题 问题1：班级有20名男生，16名女生，问班级一共多少人？ 问题2：某次运动会上，班级有20人参加田赛，16人参加径赛，问一共多少人参加比赛？ 讨论问题：按小组讨论。 归纳总结：问题2已无法用学过的知识加以解释，这是与集合有关的问题，因此需用集合的语言加以描述（板书标题）。 复习问题 x-< 问题3：在小学和初中我们学过哪些集合？（数集，点集）（如自然数的集合，有理数的集合，不等式73的解的集合，到一个定点的距离等于定长的点的集合，到一条线段的两个端点距离相等的点的集合等等）。（II）讲授新课 1．集合含义 通过以上实例，指出： （1）含义：一般地，我们把研究对象统称为元素，把一些元素组成的总体叫做集合（简称为集）。 说明：在初中几何中，点，线，面都是原始的，不定义的概念，同样集合也是原始的，不定义的概念，只可描述，不可定义。 （2）表示方法：集合通常用大括号{ }或大写的拉丁字母A,B,C…表示，而元素用小写的拉丁字母a,b,c…表示。 问题4：由此上述例中集合的元素分别是什么？ 2. 集合元素的三个特征
由以上四个问题可知，集合元素具有三个特征： （1） 确定性： 设A 是一个给定的集合，a 是某一具体的对象，则a 或者是A 的元素，或者不是A 的元素，两种情况必有一种而且只有一种成立。 如：“地球上的四大洋”（太平洋,大西洋，印度洋，北冰洋） “中国古代四大发明”（造纸，印刷，火药，指南针）可以构成集合，其元素具有确定性；而“比较大的数”，“平面点P 周围的点”一般不构成集合 元素与集合的关系：(元素与集合的关系有“属于∈”及“不属于?两种) 若a 是集合A 中的元素，则称a 属于集合A ，记作a ∈A ； 若a 不是集合A 的元素，则称a 不属于集合A ，记作a ?A 。 如A={2，4，8，16}，则4∈A ，8∈A ，32?A.(请学生填充)。 （2） 互异性：即同一集合中不应重复出现同一元素。 说明:一个给定集合中的元素是指属于这个集合的互不相同的对象.因此,以后提到集合中的两个元素时,一定是指两个不同的元素. 如:方程(x-2)(x-1)2 =0的解集表示为{1,-2 },而不是{ 1,1,-2 } （3）无序性: 即集合中的元素无顺序,可以任意排列，调换. 。 3.常见数集的专用符号 （III ）课堂练习 （IV ）课时小结 1.集合的含义； 2.集合元素的三个特征中，确定性可用于判定某些对象是否是给定集合的元素，互异性可用于简化集合的表示，无序性可用于判定集合的关系。
Unit 10 Money单元整合训练 [语言知识再落实] Ⅰ.单句语法填空 1．I get annoyed(annoy) when someone talks to me while I'm reading. 2．The government made an appeal to citizens to obey (obey) the traffic rules. 3．After returning to his hometown，the old man found everything changed(change)．4．I like getting up very early in summer.The morning air is so good to breathe(breathe)． 5．So many things needs doing this year，but the one to be done(do) immediately is collecting money for the orphans. 6．This book contains(contain) ten units，including(include) two main revisions. 7．He behaved well towards/to his wife and they lived a happy life. 8．There is no doubt that mobile phone and Internet are important means of communication. 9．She stood there chatting with her friend，with her child playing(play)beside her. 10．I am going to replace my battered car with a new one. Ⅱ.完成句子 1．玛丽靠近火炉坐着，背对着门。 Mary was sitting near the fire，with her back towards the door． 2．是你教会我爱并不是要保持沉默，爱要大声地说出来。 It is you who tell me love is not keeping silence，love needs to be told. 3．如果是这样，你可以关闭警报。 If so，you can turn off the alarms. 4．我认为该完全禁止烟草广告了。 l believe it is time to ban tobacco advertising altogether. 5．这台计算机重10磅，只有一部词典那样大。 The computer weighs 10 pounds and is no bigger than a dictionary. Ⅲ.微写作 将下列句子翻译成英语并连成一段意义完整、语言流畅的小短文(80词左右) 网购对越来越多的人充满了吸引力(appeal to)。根据大众评论(comment)，网购是一种先进的(advanced)购物方式。一方面，它包含了(contain)各种各样的非常有价值(be of＋n.)的商品。另一方面，许多人羞于(be ashamed of)与店主面对面地讨价还价(bargain)，因为有时任何一方行为不当都会使彼此恼怒(annoy)，但网购可以避免这种尴尬的局面。越
必修一 沁园春?长沙 独立寒秋，湘江北去，橘子洲头。看万山红遍，层林尽染；漫江碧透，百舸争流。鹰击长空，鱼翔浅底，万类霜天竞自由。怅寥廓，问苍茫大地，谁主沉浮？携来百 侣曾游，忆往昔峥嵘岁月稠。恰同学少年，风华正茂，书生意气，挥斥方遒。指点江山，激扬文字，粪
土当年万户侯。曾记否，到中流击水，浪遏飞 舟? （默写） 劝学 君子曰：学不可以已。青，取之于蓝而青于蓝；冰，水为之而寒于水。木直中绳，輮以为轮，其曲中规。_________，不复挺者，__________。故木受绳则直，金就砺则利，——————，——————————。 吾尝终日而思矣，不
如须臾之所学也；吾尝跂而望矣，不如登高之博见也。登高而招，_______________， 而见者远；顺风而呼，_______________，而闻者彰。假舆马者，非利足也，而致千里；假舟楫者，非能水也，而绝江河。君子生非异也，————————。 积土成山，风雨兴焉；积水成渊，蛟龙生焉；积善成德，而神明自得，圣
心备焉。故不积跬步，_______________；不积小流，无以成江海。骐骥一跃，不能十步；驽马十驾，功在不舍。_____________；__________，________。蚓无爪牙之利，筋骨之强，上食埃土，下饮黄泉，用心一也。______________，__________________，用心躁也。
师说 古之学者必有师。师者，________________。人非生而知之者，孰能无惑？惑而不从师，其为惑也终不解矣。生乎吾前，______________，吾从而师之；生乎吾后，其闻道也亦先乎吾，吾从而师之。吾师道也， __________________？是故无贵无贱，无长无少，__________，___________。 嗟乎！_____________！
一、选择题。（共 ?小题，每题 分） ?*6 M={N },M 5a Z a ∈∈-已知集合则是（ ） ?． ?????????? ??????????? ??????? ???????? 、设????，??，集合 ?????， ?，若???????，则????（ ） ?、 ?， ? ?、 ?， ? ?、 ?， ? ?、 ?， ， ? 、函数2 1 )(--= x x x f 的定义域为（ ） ?、??， ?∪??， ∞） ?、??， ∞） ?、??， ? ?、??， ∞? 、已知偶函数????在区间????∞）上单调递增，则满足??????????13 ? ??? 12,33? ?? 12[,)33 ?? 12(,)23 ?? 12 [,)23 、三个数 。 ， 。 ， ，㏑ ??，的大小顺序是（ ） ?、 ? 。 ， ?? ， ，㏑ ??? ?、 。 ，，㏑ ??? ??? 、 ??? ? ? ? 。 ，，㏑ ??? ?、㏑ ??? ? 。 ， ?? ， ?函数244,1, ()43,1, x x f x x x x -<=?=?-+>?的图像和函数2()log g x x =的图像的交点个数是（） ???个 ???个 ???个 ???个 、对于函数212 ()log (23)f x x ax =-+∞在（-，1）内是增函数，则a 的取值范围（ ） ????? ?∞? ????? ?∞? ?????? ??????? ?某单位有职工 ??人，其中青年职工 ??人，中年职工 ??人，老年职工 ??人，为了了解该单位职工的健康状况，用分层抽样的方法抽取，若样本中的青年职工为 人，则样本容量为? ? ??? ??? ???? ? ? ?? 、函数???? ????在（ ∞， ??上是增函数，在???， ∞?上是减函数，则（ ） ?、???且??? ?、?????? ?、?????? ?、?，?的符号不定 ?? 在两个袋内 分别写着装有 ??????????六个数字的 张卡片 今从每个袋中各取一张卡片则两数之和等于 的概率为 ? ? ?? 13 ?? 16 ?? 19 ?? 1 12 ?．如图，?是圆上固定的一点，在圆上其他位置任取一点A '，连结AA '，它是一条弦，它的长度大于等于半径长度的概率为 ? ? ?． 12 ．23 3 ．14 ??函数?＝?? ＋?与?＝ x a （???）在同一坐标系中的图象可能是（ ） 高一期末测试题
高中数学必修一教案全套 Last revision date: 13 December 2020.
『高中数学·必修1』第一章集合与函数概念 课题：§1.1 集合 教材分析：集合概念及其基本理论，称为集合论，是近、现代数学的一个重要的基础，一方面，许多重要的数学分支，都建立在集合理论的基础上。另一方 面，集合论及其所反映的数学思想，在越来越广泛的领域种得到应用。 课型：新授课 教学目标：（1）通过实例，了解集合的含义，体会元素与集合的理解集合“属于” 关系； （2）能选择自然语言、图形语言、集合语言（列举法或描述法）描述不 同的具体问题，感受集合语言的意义和作用； 教学重点：集合的基本概念与表示方法； 教学难点：运用集合的两种常用表示方法——列举法与描述法，正确表示一些简单的集合； 教学过程： 一、引入课题 军训前学校通知：8 月15日8点，高一年段在体育馆集合进行军训动员；试问 这个通知的对象是全体的高一学生还是个别学生？ 在这里，集合是我们常用的一个词语，我们感兴趣的是问题中某些特定（是高 一而不是高二、高三）对象的总体，而不是个别的对象，为此，我们将学习一个新 的概念——集合（宣布课题），即是一些研究对象的总体。 阅读课本 P-P内容 二、新课教学 （一）集合的有关概念 1. 集合理论创始人康托尔称集合为一些确定的、不同的东西的全体，人们能 意识到这些东西，并且能判断一个给定的东西是否属于这个总体。 2. 一般地，研究对象统称为元素（element），一些元素组成的总体叫集合（set）， 也简称集。 ——————————————第 1 页（共 70页）——————————————
2014年高中语文苏教版新教材目录（附必修一至必修五）2014年高中语文苏教版新教材目录 （附必修一至必修五） 必修一 向青春举杯 吟诵青春 沁园春·长沙(毛泽东) 相信未来(食指) 六月，我们看海去 (潘洗尘) 回旋舞 致橡树(舒婷) 面朝大海，春暖花开(海子) 回旋舞(保尔·福尔) 光阴的故事 雨巷(戴望舒) 断章(卞之琳) 错误 (郑愁予) 获得教养的途径 求学之道 劝学（荀子）
师说（韩愈） 经典的力量 获得教养的途径（赫尔曼黑塞） 写作 月是故乡明 漂泊的旅人 想北平（老舍） 我心归去（韩少功） *肖邦故园（雅-伊瓦什凯维奇）(必三调来) 乡关何处 前方（曹文轩） *今生今世的证据（刘亮程） 写作 像山那样思考 大地的眼睛 江南的冬景（郁达夫） 神的一滴（梭罗）（次序调整） 像山那样思考（奥尔多利奥波德） 与造物者游 始得西山宴游记（柳宗元）（此两篇顺序调整）赤壁赋（苏轼） 写作 必修二 珍爱生命
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荷塘月色（朱自清） ﹡金岳霖先生（汪曾祺） 永远新的旧故事 林黛玉进贾府（曹雪芹）（顺序调整）祝福（鲁迅） ﹡边城（节选）（沈从文） 写作 必修三 语言，存在的家园 汉字的王国 语言的演变吕叔湘 *汉字王国中的“人” 【瑞典】林西莉清辞丽句必为邻 咬文嚼字（朱光潜） *简笔与繁笔（周先慎） 号角，为你长鸣 烈士的抉择 指南录后序（文天祥） 五人墓碑记（张溥） 底层的光芒 品质（高尔斯华绥） 老王（杨绛） 写作
高中数学必修三模块综合测试卷 一、选择题（每小题5分，共60分） 1．下列给出的赋值语句中正确的是：（ ） A 、3=A B 、M=—M C 、B=A=2 D 、x+y=0 2．把89化成五进制数的末位数字为 （ ） A 1 B 2 C 3 D 4 3．如右图,是某算法流程图的一部分，其算法的逻辑结构为 （ ） A. 顺序结构 B. 判断结构 C. 条件结构 D. 循环结构 4．某公司在甲、乙、丙、丁四个地区 分别有150个、120个、180个、150 个销售点，公司为了调查产品销售的情况，需从这600个销售点中抽取一个容量为100的样本，记这项调查为(1)；在丙地区中有20个特大型销售点，要从中抽取7个调查其销售收入和售后服务情况，记这项调查为(2)。则完成(1)、(2)这两项调查宜采用的抽样方法依次是 ( ) A 、 分层抽样法，系统抽样法 B 、分层抽样法，简单随机抽样法 C 、系统抽样法，分层抽样法 D 、简单随机抽样法，分层抽样法 5．下列对一组数据的分析，不正确的说法是 （ ） A 、数据极差越小，样本数据分布越集中、稳定 B 、数据平均数越小，样本数据分布越集中、稳定 C 、数据标准差越小，样本数据分布越集中、稳定 D 、数据方差越小，样本数据分布越集中、稳定 6．有五组变量：①汽车的重量和汽车每消耗1升汽油所行驶的平均路程； ②平均日学习时间和平均学习成绩； ③某人每日吸烟量和其身体健康情况； ④正方形的边长和面积； ⑤汽车的重量和百公里耗油量； 其中两个变量成正相关的是 （ ） A ．①③ B ．②④ C ．②⑤ D ．④⑤ 7.计算机中常用16进制，采用数字0～9和字母A ～F 共16个计数符号与10进制得对应关系如下表： 例如用16进制表示D+E ＝1B ，则A ×B=( ) A 6E B 7C C 5F D B0 8．从一批产品中取出三件产品，设A =“三件产品全不是次品”，B =“三件产品全是次品”， C =“三件产品至少有一件是次品”，则下列结论正确的是（ ） A . A 与C 互斥 B . 任何两个均互斥 C . B 与C 互斥 D . 任何两个均不互斥 9．从一箱产品中随机地抽取一件，设事件A=｛抽到一等品｝，事件B =｛抽到二等品｝，事件C =｛抽到三等品｝，且已知 P （A ）= 0.65 ,P(B)=0.2 ,P(C)=0.1。则事件“抽到的不是一等品”的概率为（ ） A. 0.7 B. 0.65 C. 0.35 D. 0.3 10．先后抛掷质地均匀的硬币三次,则至少一次正面朝上的概率是 ( )
人教版高中数学必修1 全册教案 目录 第一章集合与函数概念 §1.1.1集合的含义与表示 §1.1.2集合间的基本关系 §1.1.3集合的基本运算 §1.2.1函数的概念 §1.2.2映射 §1.2.2函数的表示法 §1.3.1函数的单调性 §1.3.1函数的最大（小）值 §1.3.2函数的奇偶性 第二章基本初等函数（Ⅰ） §2.1.1指数（2） §2.1.1指数（3） §2.1.2指数函数及其性质（1） §2.1.2指数函数及其性质（2） §2.2.1对数与对数运算（1） §2.2.1对数与对数运算（2） §2.2.2对数函数及其性质（第一、二课时）
§2.2.2对数函数及其性质（第三课时）§2.3幂函数 §第2章小结与复习 第三章函数的应用 §3.1.2用二分法求方程的近似解 §3.2.1几类不同增长的函数模型 §3.2.2函数模型的应用实例（1） §3.2.2函数模型的应用实例（2） §3.2.2函数模型的应用实例（3）
第一章集合与函数概念 一. 课标要求： 本章将集合作为一种语言来学习，使学生感受用集合表示数学内容时的简洁 性、准确性，帮助学生学会用集合语言描述数学对象，发展学生运用数学语言进行交流的能力 . 函数是高中数学的核心概念，本章把函数作为描述客观世界变化规律的重要数学模型来学习，强调结合实际问题，使学生感受运用函数概念建立模型的过程与方法，从而发展学生对变量数学的认识 . 1. 了解集合的含义，体会元素与集合的“属于”关系，掌握某些数集的专用符号. 2. 理解集合的表示法，能选择自然语言、图形语言、集合语言（列举法或描述法）描述不同的具体问题，感受集合语言的意义和作用. 3、理解集合之间包含与相等的含义，能识别给定集合的子集，培养学生分析、比较、归纳的逻辑思维能力. 4、能在具体情境中，了解全集与空集的含义. 5、理解两个集合的并集与交集的含义，会求两个简单集合的交集与并集, 培养学生从具体到抽象的思维能力. 6. 理解在给定集合中，一个子集的补集的含义，会求给定子集的补集 . 7. 能使用Venn图表达集合的关系及运算，体会直观图示对理解抽象概念的作用 . 8. 学会用集合与对应的语言来刻画函数，理解函数符号y=f(x)的含义；了解函数构成的三要素，了解映射的概念；体会函数是一种刻画变量之间关系的重要数学模型，体会对应关系在刻画函数概念中的作用；会求一些简单函数的定义域和值域，并熟练使用区间表示法 . 9. 了解函数的一些基本表示法（列表法、图象法、分析法），并能在实际情境中，恰当地进行选择；会用描点法画一些简单函数的图象. 10. 通过具体实例，了解简单的分段函数，并能简单应用. 11. 结合熟悉的具体函数，理解函数的单调性、最大（小）值及其几何意义，了解奇偶性和周期性的含义，通过具体函数的图象，初步了解中心对称图形和轴对称图形. 12. 学会运用函数的图象理解和研究函数的性质，体会数形结合的数学方法. 13. 通过实习作业，使学生初步了解对数学发展有过重大影响的重大历史事件和重要人物,了解生活中的函数实例. 二. 编写意图与教学建议 1. 教材不涉及集合论理论，只将集合作为一种语言来学习，要求学生能够使用最基本的集合语言表示有关的数学对象，从而体会集合语言的简洁性和准确性，发展运用数学语言进行交流的能力. 教材力求紧密结合学生的生活经验和已有数学知识，通过列举丰富的实例，使学生了解集合的含义，理解并掌握集合间的基本关系及集合的基本运算. 教材突出了函数概念的背景教学，强调从实例出发，让学生对函数概念有充分的感性基础，再用集合与对应语言抽象出函数概念，这样比较符合学生的认识规律，同时有利于培
苏教版高中语文必修一—必修五高考名句默写 必背 HEN system office room 【HEN16H-HENS2AHENS8Q8-HENH1688】
苏教版高中语文（必修一—必修五）高考名句默写必背 1.今由与求也相夫子，________________；_________________，而谋动干戈于邦内。 ，则刑罚不中；刑罚不中，_________________。 。长幼之节，不可废也；君臣之义，___________________ 4.弟子，入则孝，____________，谨而信，________________。 5.志士仁人，_________________,_________________。 6.饭疏食，饮水，_______________,乐亦在其中矣。_______________,于我如浮云。 7.子曰：“不愤不启，_______________，_________________,则不复也。 8.子游对曰：“昔者偃也闻诸夫子曰：‘________________， _________________。’ ，博我以文，___________，欲罢不能。 ，春服既成，冠者五六人，童子六七人，浴乎沂，__________，咏而归。 11.故木受绳则直，_______________，____________________，则知明而行无过矣。 12.问之，则曰：________________，道相似也。位卑则足羞，______________。，而不知其所止；_________________，羽化而登仙。 14.驾一叶之扁舟，_______________。_______________，渺沧海之一粟。 ，用之不竭，___________________，而吾与子之所共食。” ，可谓智力孤危，_____________，诚不得已。 17.有如此之势，____________________，____________，以趋于亡。 ，未云何龙？复道行空，____________ 19.使六国各爱其人，_____________；使秦复爱六国之人， _______________________。 ，谈笑间.________________。 21.故国神游，___________，早生华发。人间如梦，________________。 22.可堪回首，_____________，一片神鸦社鼓。凭谁问：廉颇老矣，___________