This blog is a companion to the course, Topics in contemporary, international finance. Financial topics will be investigated through case studies of actual events and economic policy. Policy and events will be studied from primary and secondary sources. We will use primary sources such United States Federal Reserve reports and United States Department of Labor statistics. We will also read secondary sources such as newspaper articles with a view to analyze how accurately the policy is reported and interpreted. Links to the sources will be posted on this blog.
The first class
Introduction
What is Money?
Evaluate each item below as to how well it would perform the functions of money. In your evaluation, discuss how
well the item would serve as a medium of exchange, a store of value and a standard of value. As you make your evaluations, be sure to consider portability, uniformity, acceptability, durability, and stability in value.
1. Salt
2. Large stone wheels
3. Cattle
4. Gold
5. Copper coins
6. Pieces of paper printed by a government
7. A personal check
Why were roman coins minted with the faces of emperors?
Money and sovereignty. What about the Euro?
The Simple Picture of the International Financial System
Country A's Financial System
The first class
Introduction
What is Money?
Evaluate each item below as to how well it would perform the functions of money. In your evaluation, discuss how
well the item would serve as a medium of exchange, a store of value and a standard of value. As you make your evaluations, be sure to consider portability, uniformity, acceptability, durability, and stability in value.
1. Salt
2. Large stone wheels
3. Cattle
4. Gold
5. Copper coins
6. Pieces of paper printed by a government
7. A personal check
Why were roman coins minted with the faces of emperors?
Money and sovereignty. What about the Euro?
The Simple Picture of the International Financial System
Country A's Financial System
Banks
Savers Spenders
Inflation and Unemployment are kept in check by central banks monetary policy such as adjustment of interest rates
The connections between Banks, Savers and Spenders are quite complicated and vary according to national laws and regulation, financial services offered, regional economic conditions.
Inflation and Unemployment are kept in check by central banks monetary policy such as adjustment of interest rates
The connections between Banks, Savers and Spenders are quite complicated and vary according to national laws and regulation, financial services offered, regional economic conditions.
International- other groupings of Savers and Spenders mediated by banks of other sovereign countries.
B
Save Spend B
Save Spend
B
Save Spend
The connections between banks become complicated and have changed over time, e.g. Bretton Woods, they require currency exchange.
The connections between savers and spenders are quite complicated and vary according to national laws and regulation, financial services offered, regional economic conditions.
Case Study 1999 -Currency Stabilization and Crisis
Two years into the Asian Economic Crisis
http://www.washingtonpost.com/wp-srv/business/longterm/feb99/currency/baby7.htm
http://www.washingtonpost.com/wp-srv/business/longterm/feb99 /currency /currency7.htm
B
Save Spend B
Save Spend
B
Save Spend
The connections between banks become complicated and have changed over time, e.g. Bretton Woods, they require currency exchange.
The connections between savers and spenders are quite complicated and vary according to national laws and regulation, financial services offered, regional economic conditions.
Case Study 1999 -Currency Stabilization and Crisis
Two years into the Asian Economic Crisis
http://www.washingtonpost.com/wp-srv/business/longterm/feb99/currency/baby7.htm
http://www.washingtonpost.com/wp-srv/business/longterm/feb99 /currency /currency7.htm
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