Moneyclass

Moneyclass - 1 Money and the Payments System What’s Doing...

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Unformatted text preview: 1 Money and the Payments System What’s Doing in the News? Course Issues ¡ Religious Absence – email/ no penalty/ slides etc ¡ Questions, Problems - CHAT ROOMS (correct room) ¡ Late HW –NOT (except for 1) ¡ Missed Class – do not email unless athletics university sponsored event 3 ? athletics, university sponsored event, sustained problem (>4) ¡ Clickers – don’t worry about reg yet ¡ HW – images, careful ¡ Slides posted before first class each week ¡ Not / All of the above / multiple choice 2 Applications • fun facts http://www.sf.frb.org/federalreserve/money/funfacts.html $ and cent http://www frbatlanta org/pubs/dol arscents/dol ars and cents http://www.federalreserve.gov/releases/ ¡ Future of Money http://www.federalreserve.gov/boarddocs/speeches/2001/20011205/default.htm ¡ Fed FAQs about money http://www.federalreserve.gov/generalinfo/faq/faqcur.htm#2 $ and cents http://www.frbatlanta.org/pubs/dol arscents/dol ars_and_cents- types_of_u_s_paper_money.cfm?redirected=true What is Money? ¡ Medium of exchange – key ¢ Acceptability-widely accepted ¡ Standardized, divisible, high value/weight, ¡ Homogenous, portable, durable ¡ unit of account ¡ store of value (standard deferred …) ¡ Versus Barter ¢ High transactions costs, no financial system ¡ Double coincidence, Huge number of prices Advantages of Monetary Economy?...
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This note was uploaded on 02/20/2012 for the course 220 301 taught by Professor Carlshu-minglin during the Fall '10 term at Rutgers.

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Moneyclass - 1 Money and the Payments System What’s Doing...

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