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Published byElwin Dawson Modified over 8 years ago
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© Thomson/South-Western ECONOMIC EDUCATION FOR CONSUMERS BANKING SERVICES CHAPTER 7 BANKING SERVICES Where to Stash Your Cash WHAT’S AHEAD 7.1 How Banks Work 7.2 Use Your Checking Account 7.3 Electronic Banking 7.4 Balance Your Checkbook 7.5 Other Banking Services
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© Thomson/South-Western ECONOMIC EDUCATION FOR CONSUMERS Slide 2 Chapter 7 LESSON 7.1 How Banks Work Objectives: By the end of class, students will be able to: Explain how banks operate and how they benefit consumers Describe the benefits of using a checking account
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© Thomson/South-Western ECONOMIC EDUCATION FOR CONSUMERS Slide 3 Chapter 7 The Role of Banks Banks are in business to earn a profit Banks provide security Protect your money’s purchasing power Banks are regulated Most deposits are insured Banks make borrowing easier Money and financial transactions
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© Thomson/South-Western ECONOMIC EDUCATION FOR CONSUMERS Slide 4 Chapter 7 Types of Money Currency Check Money Orders
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© Thomson/South-Western ECONOMIC EDUCATION FOR CONSUMERS Slide 5 Chapter 7 Advantages of Using Checks Safety Convenience Records of your transactions
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© Thomson/South-Western ECONOMIC EDUCATION FOR CONSUMERS Student Practice/Application 1. Read pages 222-227 in Your Economics textbook. 2. Complete Try These Questions 1-6 on page 227 of your Economics textbook. 3. Extra Credit: Complete Think Critically questions 7-12 on page 227 of Your Economics textbook. Slide 6 Chapter 7
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