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PART 01
°è·®ºÐ¼®
Chapter 01 ÈÆóÀÇ ½Ã°£Àû °¡Ä¡¿Í ¼ö¸®Àû °³³ä 2
section 01 ÀÌÀÚÀ² 2
section 02 ¹Ì·¡°¡Ä¡, ÇöÀç°¡Ä¡ 5
section 03 ¼öÀÍ·ü 7
Chapter 02 Åë°èÇÐ 12
section 01 ±â¼ú Åë°èÇÐ vs. Ãß·Ð Åë°èÇÐ 12
section 02 Ç¥º»(ÀÚ·á)ÀÇ ÇüÅ 13
section 03 µµ¼öºÐÆ÷ 14
section 04 Á᫐ °æÇâ ôµµ 16
section 05 »êÆ÷ÀÇ Ã´µµ 18
section 06 ±âŸ ôµµ 20
section 07 Z-scores 22
section 08 °øºÐ»ê, »ó°ü°è¼ö 25
Chapter 03 È®·ü ¹× Åë°èÀû ÃßÁ¤°ú °ËÁ¤ 28
section 01 À̷аú °³³ä 28
section 02 È®·üºÐÆ÷ 32
section 03 È®·ü °úÁ¤°ú ÀÚ»ê °¡°Ý ¸ðÇü 39
section 04 Ç¥º» À̷аú Åë°èÀû °ËÁ¤ 52
Chapter 04 ȸ±ÍºÐ¼®°ú ¿¹Ãø 71
section 01 ȸ±ÍºÐ¼®°ú »ó°üºÐ¼® 71
section 02 ¼±Çü ȸ±ÍºÐ¼® 72
section 03 ÀûÇÕ¼º °ËÁ¤ 79
section 04 ¿¹Ãø 85
section 05 ½Ã°è¿ ÀÚ·á ºÐ¼®°ú ¿¹Ãø 86
Chapter 05 ÃÖÀûÈ, ¼öÄ¡Çؼ® 93
section 01 ÃÖÀûÈ 93
section 02 ¼öÄ¡Çؼ® ¹× ½Ã¹Ä·¹ÀÌ¼Ç 98
section 03 ¸óÅ×Ä«¸¦·Î ½Ã¹Ä·¹ÀÌ¼Ç 100
section 04 ºñ¼±Çü ±â¹ý 102
½ÇÀü¿¹»ó¹®Á¦ 104
PART 02
Áõ±Ç°æÁ¦
Chapter 01 °Å½Ã°æÁ¦ÀÇ ±âÃÊ 114
section 01 °Å½Ã°æÁ¦ÀÇ °úÁ¦ 114
section 02 °Å½Ã°æÁ¦ÀÌ·ÐÀÇ È帧 115
section 03 °Å½Ã°æÁ¦ÀÇ ÁÖ¿ä ÁöÇ¥ 116
Chapter 02 ¼Òºñ ÀÌ·Ð 118
section 01 ¼Òºñ ÀÌ·Ð °³¿ä 118
section 02 Àý´ë¼Òµæ °¡¼³:ÄÉÀÎÁî 119
section 03 »ó´ë¼Òµæ °¡¼³:µàÁ¨º£¸® 120
section 04 »ý¾ÖÁֱ⠰¡¼³:¾Èµµ¿Í ¸ðµô¸®¾Æ´Ï 122
section 05 Ç×»ó ¼Òµæ °¡¼³:ÇÁ¸®µå¸¸ 124
section 06 ÃÖ±ÙÀÇ ¼Òºñ ÀÌ·Ð 125
Chapter 03 ÅõÀÚ ÀÌ·Ð 127
section 01 ÄÉÀÎÁîÀÇ ÅõÀÚ ÀÌ·Ð:MEI ÀÌ·Ð 127
section 02 ÅõÀÚÀÚ±ÝÀÇ ÇÑ°èºñ¿ë ÀÌ·Ð 129
section 03 ½Å°íÀüÇÐÆÄÀÇ ÅõÀÚ ÀÌ·Ð 130
section 04 TobinÀÇ qÀÌ·Ð 131
Chapter 04 IS-LM ¸ðÇü 132
section 01 IS°î¼±ÀÇ µµÃâ°ú À̵¿ 132
section 02 LM°î¼±ÀÇ µµÃâ°ú À̵¿ 134
section 03 IS£LM ¸ðÇü 137
section 04 ÀçÁ¤Á¤Ã¥ÀÇ È¿°ú 138
section 05 ÅëÈÁ¤Ã¥ÀÇ È¿°ú 139
section 06 À¯µ¿¼º ÇÔÁ¤°ú ÇDZ¸ È¿°ú 140
section 07 Á¤Ã¥ À¯È¿¼º ³íÀï 142
Chapter 05 ÃѼö¿ä¿Í ÃÑ°ø±Þ(AD-AS ¸ðÇü) 145
section 01 ÃѼö¿ä°î¼±ÀÇ µµÃâ 145
section 02 ³ëµ¿½ÃÀåÀÇ ±ÕÇü 147
section 03 °íÀüÇÐÆÄÀÇ ÃÑ°ø±Þ°î¼± 149
section 04 ÄÉÀÎÁîÇÐÆÄÀÇ ÃÑ°ø±Þ°î¼± 150
section 05 AD£AS ¸ðÇü 151
section 06 ÀçÁ¤Á¤Ã¥ÀÇ È¿°ú 152
section 07 ÅëÈÁ¤Ã¥ÀÇ È¿°ú 154
Chapter 06 ÈÆóÀÇ ¼ö¿ä 156
section 01 Áßø ¼¼´ë ¸ðÇü(OG¸ðÇü: Overlapping Generation Model) 156:P. Samuelson
section 02 °íÀüÇÐÆÄÀÇ ÈÆó¼ö¿ä ÀÌ·Ð 158
section 03 ÄÉÀÎÁîÀÇ ÈÆó¼ö¿ä ÀÌ·Ð:À¯µ¿¼º ¼±È£¼³ 160
section 04 º¸¸ô£ÅäºóÀÇ °Å·¡Àû ÈÆó¼ö¿ä ÀÌ·Ð:Àç°í À̷иðÇü 161
section 05 Çö´ëÀû ÈÆó ¼ö·®¼³ 163
section 06 ÅäºóÀÇ Åõ±âÀû ÈÆó¼ö¿ä ÀÌ·Ð:Àڻ꼱Åà ¸ðÇü 164
Chapter 07 ÈÆóÀÇ °ø±Þ 168
section 01 Áß¾ÓÀºÇà°ú Áö±ÞÁغñ±Ý 168
section 02 ÅëÈÀÇ Á¤ÀÇ 169
section 03 ½Å¿ëâÁ¶ 170
section 04 ÈÆó½ÃÀåÀÇ ±ÕÇü(MS£½MD) 173
section 05 ÅëÈ·®ÀÇ Á¶Àý 174
section 06 °ø°³½ÃÀåÁ¶ÀÛ 174
section 07 ³»»ýÀû ÈÆó°ø±Þ 175
Chapter 08 ÀÌÀÚÀ²ÀÇ °áÁ¤°ú º¯È 177
section 01 ÀÌÀÚÀ²ÀÇ Æ¯¼º 177
section 02 ÀÌÀÚÀ²ÀÇ °áÁ¤ÀÌ·Ð 178
section 03 °æ±â¿Í ÅëÈÁ¤Ã¥ º¯È¿¡ ÀÇÇÑ ÀÌÀÚÀ² º¯µ¿ 183
section 04 ÀÌÀÚÀ²ÀÇ ±â°£±¸Á¶ÀÌ·Ð 187
Chapter 09 ½Ç¾÷°ú ÀÎÇ÷¹ÀÌ¼Ç 192
section 01 ³ëµ¿ÀÇ ¼ö¿ä 192
section 02 ³ëµ¿ÀÇ °ø±Þ 194
section 03 ³ëµ¿½ÃÀåÀÇ ±ÕÇü 195
section 04 ½Ç¾÷ÀÇ °³³ä 196
section 05 ½Ç¾÷¿¡ ´ëÇÑ ÀÌ·Ð 197
section 06 ÀÎÇ÷¹À̼ÇÀÇ °³³ä 199
section 07 ÇǼŠ¹æÁ¤½Ä 200
section 08 Çʸ³½º°î¼± 201
Chapter 10 ȯÀ²ÀÇ °áÁ¤°ú º¯È 207
section 01 ȯÀ²ÀÇ °³³ä 207
section 02 ȯÀ²ÀÇ °áÁ¤ 208
section 03 ȯÀ²ÀÇ º¯È 209
section 04 ȯÀ² º¯È¿Í ¹«¿ª¼öÁö 210
section 05 ȯÀ² °áÁ¤ÀÌ·Ð 213
section 06 ȯÀ²Á¦µµ 216
Chapter 11 ±¹¹Î¼Òµæ °áÁ¤ ¸ðÇü 219
section 01 ±¹¹Î¼ÒµæÀÇ ¼øȯÀû È帧 219
section 02 ±¹¹Î¼ÒµæÀÇ ±âº» Ç×µî½Ä 220
section 03 ±ÕÇü ±¹¹Î¼ÒµæÀÇ °áÁ¤ 222
section 04 ÀúÃà Áõ°¡ÀÇ È¿°ú 225
Chapter 12 °æ±âº¯µ¿ ÀÌ·Ð 228
section 01 °æ±âº¯µ¿ÀÇ Á¤ÀÇ¿Í Æ¯¼º 228
section 02 °æ±â¼øȯ°ú ¼ºÀå¼øȯ 229
section 03 °æ±â¼øȯÀÇ ±¹¸é ¹× ±âÁØ ¼øȯÀÏ 230
section 04 °æ±âÁö¼ö 231
section 05 °æ±âº¯µ¿ ÀÌ·Ð 233
Chapter 13 °æÁ¦¼ºÀå ÀÌ·Ð 236
section 01 °æÁ¦¼ºÀåÀÇ ±âº»°³³ä 236
section 02 Çطε壵µ¸¶ ¸ðÇü 237
section 03 ½Å°íÀüÇÐÆÄ ¼ºÀå¸ðÇü 239
section 04 ³»»ýÀû ¼ºÀåÀÌ·Ð 244
½ÇÀü¿¹»ó¹®Á¦ 248
PART 03
±â¾÷±ÝÀ¶
Chapter 01 °³¿ä 258
section 01 ±â¾÷±ÝÀ¶ÀÇ ¸ñÇ¥ 258
section 02 ±â¾÷±ÝÀ¶ÀÇ ³»¿ë 259
section 03 ±â¾÷ÀÇ ÇüÅ 260
section 04 ´ë¸® ¹®Á¦ 260
section 05 À繫´ã´çÀÚÀÇ ¿ªÇÒ 262
section 06 ±ÝÀ¶±â°üÀÇ ¿ªÇÒ 263
Chapter 02 Çö±ÝÈ帧ÀÇ ºÐ¼® 264
section 01 ÀÚº»ÀÚ»ê 264
section 02 Çö±ÝÈ帧 265
section 03 ÇöÀç°¡Ä¡¿Í ¹Ì·¡°¡Ä¡ 266
section 04 ¼øÇö°¡ 266
section 05 ÇÒÀÎÀ² 267
section 06 ¿µ±¸Ã¤±Ç°ú ¿¬±Ý 269
Chapter 03 ÀÚº»¿¹»ê 272
section 01 ÀÚº»¿¹»êÀÇ °³³ä 272
section 02 ÅõÀÚ¾ÈÀÇ ¼º°Ý 273
section 03 Çö±ÝÈ帧ÀÇ ÃßÁ¤ 274
section 04 ºÐ¼®¹æ¹ý 276
section 05 NPV¹ý°ú IRR¹ýÀÇ ºñ±³ 284
section 06 NPV¹ýÀÇ ºñ±³¿ìÀ§ 288
section 07 ÀÚº» ÇÒ´ç 289
section 08 ºñ¿ë ÃÖ¼ÒÈ 291
section 09 ½Ç¹«Àû Æò°¡ 294
Chapter 04 À繫±¸Á¶ÀÌ·Ð ¥° 297
section 01 ÀÚ±ÝÁ¶´Þ °áÁ¤ 297
section 02 ¿øõº° ÀÚº»ºñ¿ë 298
section 03 °¡ÁßÆò±Õ ÀÚº»ºñ¿ë 300
section 04 MM ÀÌÀüÀÇ À繫±¸Á¶ÀÌ·Ð 301
section 05 MM(1958) 302
section 06 MM(1963) 305
section 07 Miller(1977) 310
Chapter 05 À繫±¸Á¶ÀÌ·Ð ¥± 318
section 01 MM°ú MillerÀÇ ÇÑ°è 318
section 02 ÆÄ»êºñ¿ë 319
section 03 ´ë¸®ºñ¿ë 323
section 04 ½ÅÈ£ È¿°ú 327
Chapter 06 ¹è´ç ÀÌ·Ð 329
section 01 ¹è´çÁ¤Ã¥ 329
section 02 Ä£(öÑ)¹è´ç ÀÌ·Ð 330
section 03 ¹Ý(Úã)¹è´ç ÀÌ·Ð 330
section 04 MM(1961) 331
section 05 ¹è´ç °üÇà 333
section 06 ½ÅÈ£ È¿°ú 334
section 07 ´ë¸®ºñ¿ë 336
section 08 °í°´±º È¿°ú 337
Chapter 07 ÀÚ±ÝÁ¶´Þ ¹æ¹ý°ú À繫ºÐ¼® 338
section 01 ¼±Åà ±âÁØ 338
section 02 ´Ü±âÀÚ±ÝÁ¶´Þ 339
section 03 Àå±âÀÚ±ÝÁ¶´Þ 341
section 04 ¸®½º±ÝÀ¶ 343
section 05 À繫ºÐ¼® 345
Chapter 08 ±â¾÷ ¸Å¼ö¡¤ÇÕº´ 349
section 01 ÀÇÀÇ ¹× ÇüÅ 349
section 02 °æÁ¦Àû À¯ÀÎ 350
section 03 ¹æ¹ý 354
section 04 ȸ°èó¸® 357
½ÇÀü¿¹»ó¹®Á¦ 358
PART 04
Æ÷Æ®Æú¸®¿À °ü¸®
Chapter 01 ÅõÀÚ¼öÀÍ°ú ÅõÀÚÀ§Çè 370
section 01 ÃÖÀû ÅõÀÚ°áÁ¤ÀÇ Ã¼°è 370
section 02 ±â´ë¼öÀÍ 371
section 03 ÅõÀÚÀ§Çè 377
section 04 À§ÇèȸÇǵµ¿Í ÃÖÀû Áõ±ÇÀÇ ¼±Åà 380
Chapter 02 È¿À²Àû ºÐ»ê ÅõÀÚ 386
section 01 Æ÷Æ®Æú¸®¿ÀÀÇ ±â´ë¼öÀÍ°ú À§Çè 386
section 02 Æ÷Æ®Æú¸®¿À °áÇÕ¼± 393
section 03 È¿À²Àû Æ÷Æ®Æú¸®¿ÀÀÇ ±¸¼º 407
section 04 ¹«À§ÇèÀÚ»ê°ú ÃÖÀû ÀÚ»ê¹èºÐ 414
Chapter 03 ´ÜÀÏ ÁöÇ¥ ¸ðÇü 420
section 01 ´ÜÀÏ ÁöÇ¥ ¸ðÇüÀÇ Çʿ伺 420
section 02 ´ÜÀÏ ÁöÇ¥ ¸ðÇüÀÇ °¡Á¤°ú Áõ±Ç Ư¼º¼± 421
section 03 ´ÜÀÏ ÁöÇ¥ ¸ðÇü¿¡ ÀÇÇÑ Æ÷Æ®Æú¸®¿À ¼±Åà 427
section 04 ´ÜÀÏ ÁöÇ¥ ¸ðÇüÀÇ ÀÀ¿ë 431
Chapter 04 ÀÚº»ÀÚ»ê °¡°Ý°áÁ¤ ¸ðÇü 436
section 01 ÀÚº»ÀÚ»ê °¡°Ý°áÁ¤ ¸ðÇüÀÇ ÀÇÀÇ¿Í °¡Á¤ 436
section 02 ÀÚº»½ÃÀå¼± 437
section 03 Áõ±Ç½ÃÀå¼± 441
section 04 CAPMÀÇ ÅõÀÚ°áÁ¤¿¡ÀÇ ÀÌ¿ë 450
section 05 Â÷ÀÍ °¡°Ý°áÁ¤ ¸ðÇü(APM) 456
Chapter 05 Áõ±Ç½ÃÀåÀÇ È¿À²¼º 463
section 01 È¿À²Àû ½ÃÀåÀÇ °³³ä 463
section 02 È¿À²Àû ½ÃÀåÀÇ Æ¯¼º 466
section 03 È¿À²Àû ½ÃÀå°¡¼³ÀÇ °ËÁõ 470
Chapter 06 ÅëÇÕÀû ÅõÀÚ°ü¸® 485
section 01 ÅëÇÕÀû ÅõÀÚ°ü¸® °úÁ¤ 485
section 02 ¼Ò±ØÀû ÅõÀÚ°ü¸®¹æ¹ý 490
section 03 Àû±ØÀû ÅõÀÚ°ü¸®¹æ¹ý 492
section 04 Æ÷Æ®Æú¸®¿À ¼öÁ¤ 498
section 05 ÅõÀÚ¼º°ú ÆòÁ¤ 501
[Âü°í] ESG ÅõÀÚ¿¡ ´ëÇÑ ÀÌÇØ 508
½ÇÀü¿¹»ó¹®Á¦ 524