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Presentation transcript:

To order publication, Money: Everyday Economics, go to: 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.

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

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

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

Kinds of money? Commodity money Representative money Fiat money

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

Characteristics of money?

Characteristics, cont.

Characteristics, cont.

Old money

Old money

Old money

Current money

Current money

Dallas Fed’s New Publication Everyday Economics: Money

Inside the publication

Inside money

Vocabulary for money

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