002 - Money&Banking Basics Money and Banking - Dr. D....

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Money and Banking - Dr. D. Foster Basics Basics
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Money and Banking - Dr. D. Foster Do we need money? Do we need money? Alternative? Barter The functions money serves: The functions money serves: medium of exchange. unit of account. store of value. std. of deferred value. Need money serve all these functions?
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Money and Banking - Dr. D. Foster What isn’t money? What isn’t money? Wealth is not money. Income is not money. Income is not money. A credit card is not money. A credit card is not money. What about . . . Stored value cards? Stored value cards? Electronic money? Electronic money? “Local” currencies?
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Money and Banking - Dr. D. Foster History History Favorable characteristics portable, durable, recognizable, scarce, commodity wheat, shells, precious metals Yap stone wheels How do we get to paper? commodity, representative, fiat U.S. and the “gold standard.” Deciding on denominations and coins vs. paper.
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The G-man The G-man Mint coins to create standards of purity. Revenue source.
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002 - Money&Banking Basics Money and Banking - Dr. D....

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