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Modern Money

Modern Money. Daniel Folkinshteyn, PhD http://finance-lectures.com/ personal@finance-lectures.com. Learning objectives. Summarize nature of modern fiat money Describe the rise of banks as financial intermediaries Explain the efficiency gains from bank services. Representative money.

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Modern Money

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  1. Money 101 | finance-lectures.com Modern Money Daniel Folkinshteyn, PhD http://finance-lectures.com/ personal@finance-lectures.com

  2. Money 101 | finance-lectures.com Learning objectives • Summarize nature of modern fiat money • Describe the rise of banks as financial intermediaries • Explain the efficiency gains from bank services

  3. Money 101 | finance-lectures.com Representative money

  4. Money 101 | finance-lectures.com Rise of intermediaries "paper money"

  5. Money 101 | finance-lectures.com Paper money Banknote from Sweden, issued in 1666

  6. Money 101 | finance-lectures.com U.S. paper money

  7. Money 101 | finance-lectures.com Quiz 1 Since paper money isn't redeemable directly from the issuer for anything, why do you still accept paper dollars in exchange for valuable goods and services?

  8. Money 101 | finance-lectures.com Fiat money

  9. Money 101 | finance-lectures.com Banks Financial intermediaries

  10. Money 101 | finance-lectures.com Additional reading The Ascent of Money: A Financial History of the World by Niall Ferguson

  11. Money 101 | finance-lectures.com Attributions • All images, unless otherwise noted, are sourced from pixabay.com or Wikimedia Commons, and are licensed under CC0, public domain. • Image of Claudius II coin, sourced from Wikimedia Commons, by Classical Numismatic Group, CC-BY-SA 3.0.

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