| 92年6月11日 08:30~10:00 管理研究所 | 誠實是我們珍視的美德， 我們喜愛「拒絕作弊，堅守正直」的你！ |
| 科目：專業英文 |
| 1. | Please translate the following Chinese paragraph into English. (25%) | |
| 近年來國際金融市場上傳聞，如果持有巨量美國公債的日本投資人開始拋售，將使整個美國債市開始鬆動，此為美國債市揮之不去的夢魘。但許多經濟學家則持保留的看法，依目前日本投資人的實力的確可以影響美國債市的走勢，但市場上對於其影響力的程度則言過其實。 | ||
| 2. | Please answer the following questions in ENGLSH. (30%) | |
| Is the housing market less prone to bubbles than the stock market? Alan Greenspan thinks so, arguing in a recent speech that the transaction costs of buying and selling a home are much higher than in the stock market and that this is likely to discourage speculative trading in houses. Moreover, he says, arbitrage opportunities are much more limited in housing markets than in securities markets. A home in Portland, Oregon, is not a close substitute for a home in Portland, Maine, so even if a bubble were to develop in a local market, it would not inflate a national bubble. Yet many economists take the opposite view: that bubbles are in fact more likely to develop in housing markets than in stock markets. Some academics go so far as to argue that stock market bubbles are impossible because financial markets are efficient, in the sense that prices reflect all publicly known information about an asset. But even these economists would concede that property markets, both residential and commercial, are inefficient. (The Economist, Vol. 367, 2003) | ||
| Questions: | ||
| (1) | What is the bubble effect related to stock and housing markets? | |
| (2) | Is there any bubble of the stock and housing markets in Taiwan?
If so, please explain. |
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| 3. | Please translate the following English paragraph into Chinese.(25%) | |
| The cliché that the world is getting smaller is dramatically true for today's organizations. With rapid advances in technology and communications, the time it takes to exert influence around the world from even the most remote locations has been reduced from years to only seconds. Business is becoming a unified global field as trade barriers fall, communication becomes faster and cheater, and consumer tastes in everything from clothing to cellular phones converge. | ||
| 4. | Please complete the following sentences. (20%) | |
| (1). | Downsizing is the process of ____________________________ _________________________________________________________ |
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| (2). | My motto is _____________________________________________ _________________________________________________________ |
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| (3). | To me, _________ is a great manager because _____________ _________________________________________________________ |
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| (4). | My ultimate career goal is ______________________________ | |
| (5). | To me, life is __________________________________________ |
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