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Why money?

Why money?. To order publication, Money : Everyday Economics , go to: http://www.dallasfed.org/microsites/educate/pubs/order.cfm. The opinions expressed are solely those of the presenters and do not reflect the opinions of the Federal Reserve Bank of Dallas or the Federal Reserve System.

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Why money?

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  1. Why money? To order publication, Money: Everyday Economics, go to: http://www.dallasfed.org/microsites/educate/pubs/order.cfm The opinions expressed are solely those of the presenters and do not reflect the opinions of the Federal Reserve Bank of Dallas or the Federal Reserve System.

  2. Without money • Transactions require double coincidence of wants. • “Prices” are subjective and extremely variable. • Transaction costs are high.

  3. When is money needed? • Economies grow too large • Labor specializes too much • Transactions become too complicated

  4. What is money? • Anything that is generally acceptable as payment for goods and services or for repayment of debts.

  5. Kinds of money? • Commodity money • Representative money • Fiat money

  6. Who needs money? • Nations • Groups of nations • Communities • Prisons • The internet?

  7. Characteristics of money?

  8. Characteristics, cont.

  9. Characteristics, cont.

  10. Old money

  11. Old money

  12. Old money

  13. Current money

  14. Current money

  15. Dallas Fed’s New Publication • Everyday Economics: Money

  16. Inside the publication

  17. Inside money

  18. Vocabulary for money

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