同济大学：《货币金融学》课程电子教案（课件讲稿）Chapter 2 Money and Monetary System

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Chapter 2 Money and Monetary System

The Economics of Money and Banking Chapter 2 Money and Monetary System >>>Agenda ● ■ Money and the Payments System ■ Monetary System 2 GUO YING SEM TONGJI UNIVERSITY

The Economics of Money and Banking 2 GUO YING SEM TONGJI UNIVERSITY  Money and the Payments System  Monetary System Chapter 2 Money and Monetary System Agenda

The Economics of Money and Banking Chapter 2 Money and Monetary System 》》 What is Money? 1 ▣ How much money did you earn last week? When I go to the store,I always make sure that I have enough Money and the payment system money. ▣ Joe is rich,he has an awful lot of money. 3 GUO YING SEM TONGJI UNIVERSITY

The Economics of Money and Banking 3 GUO YING SEM TONGJI UNIVERSITY Money and the payment system 1 What is Money?  How much money did you earn last week?  When I go to the store, I always make sure that I have enough money.  Joe is rich, he has an awful lot of money. Chapter 2 Money and Monetary System

The Economics of Money and Banking Chapter 2 Money and Monetary System 》》 What is Money 1 Definition Money Economists define money is anything that is generally accepted in payment for goods or services or in the repayment of debts. Money and the payment System Definition Wealth Wealth is the stock of money but also other assets such as bonds, common stock,art,land,furniture,cars,and houses,taken together Definition Income Income is the flow of money,interest rate and maturity payments per unit of time. 4 GUO YING SEM TONGJI UNIVERSITY

The Economics of Money and Banking 4 GUO YING SEM TONGJI UNIVERSITY Money and the payment System 1 What is Money Definition : Money Economists define money is anything that is generally accepted in payment for goods or services or in the repayment of debts. Definition : Wealth Wealth is the stock of money but also other assets such as bonds, common stock, art, land, furniture, cars, and houses, taken together Definition : Income Income is the flow of money, interest rate and maturity payments per unit of time. Chapter 2 Money and Monetary System

The Economics of Money and Banking Chapter 2 Money and Monetary System >>Monetary Thought:The Origin of Money 1 Ancient China Money and the The theory of invention:money was invented by the state or ancient sages. -----SHAN Qi (524 B.C.)and GUAN Zi (685 B.C.) The theory of exchange convenience:money is chosen collaboratively as a solution to problems that occurred in barter exchanges. ---- e payment System SI Magian(104 B.C.and LUO Mi(Song Dynasty) The theory of wealth preservation:money came into existence for the sake of preserving,measuring and exchanging wealth. The same theories also existed in western countries:Adam Smith etc. 5 GUO YING SEM TONGJI UNIVERSITY

The Economics of Money and Banking 5 GUO YING SEM TONGJI UNIVERSITY 1 Monetary Thought: The Origin of Money  The theory of invention: money was invented by the state or ancient sages. ------ SHAN Qi (524 B.C.） and GUAN Zi (685 B.C.) Money and the payment System Ancient China  The theory of exchange convenience: money is chosen collaboratively as a solution to problems that occurred in barter exchanges. ------ SI Maqian (104 B.C.） and LUO Mi (Song Dynasty)  The theory of wealth preservation: money came into existence for the sake of preserving, measuring and exchanging wealth. The same theories also existed in western countries: Adam Smith etc. Chapter 2 Money and Monetary System

The Economics of Money and Banking Chapter 2 Money and Monetary System >>Marx's Theory of Money:Labor and Money 1 Theory of labor value The different kinds of individual labor Money and the paymer ↓ Social labor 马克思 The exchange process Money is a kind of 三 special Measurement of social labor time System commodity that serves as a general Monetary system equivalent 6 GUO YING SEM TONGJI UNIVERSITY

The Economics of Money and Banking 6 GUO YING SEM TONGJI UNIVERSITY 1 Marx’s Theory of Money: Labor and Money The different kinds of individual labor Money and the payment System Theory of labor value Social labor The exchange process Measurement of social labor time Monetary system Money is a kind of special commodity that serves as a general equivalent Chapter 2 Money and Monetary System

The Economics of Money and Banking Chapter 2 Money and Monetary System 》》 Evolution of Payment System 1 Type Content Barter The exchange of merchandise for merchandise, without value equivalence Money and the payment system Commodity Money Accepted by all,some goods assumed the role of currency,circulating as an element of exchange for other products and used to assess their value. 7 GUO YING SEM TONGJI UNIVERSITY

The Economics of Money and Banking 7 GUO YING SEM TONGJI UNIVERSITY Money and the payment system 1 Type Content Barter  The exchange of merchandise for merchandise, without value equivalence Commodity Money  Accepted by all, some goods assumed the role of currency, circulating as an element of exchange for other products and used to assess their value. Evolution of Payment System Chapter 2 Money and Monetary System

The Economics of Money and Banking Chapter 2 Money and Monetary System >>Evolution of Payment System 1 Type Content Metal For its advantages,as the possibility of treasuring, divisibility,easy of transportation and beauty,metal Money and the payment system became the main standard of value A guarantee that the piece of paper was convertible Paper Money into the coins or into a quantify of precious metal Paper money issued by the government that are generally not convertible into precious metals but everyone accepts them as a medium of exchange. 8 GUO YING SEM TONGJI UNIVERSITY

The Economics of Money and Banking 8 GUO YING SEM TONGJI UNIVERSITY Money and the payment system 1 Type Content Metal  For its advantages, as the possibility of treasuring, divisibility, easy of transportation and beauty, metal became the main standard of value Paper Money  A guarantee that the piece of paper was convertible into the coins or into a quantify of precious metal  Paper money issued by the government that are generally not convertible into precious metals but everyone accepts them as a medium of exchange. Evolution of Payment System Chapter 2 Money and Monetary System

The Economics of Money and Banking Chapter 2 Money and Monetary System 》》 Evolution of Payment System 1 Type Content Checks An instruction to the bank to pay a specified amount of fiat money to the holder of the check Money and the payment system E Money Electronic settlement of payment needs ⑨中国送行人带 9 GUO YING SEM TONGJI UNIVERSITY

The Economics of Money and Banking 9 GUO YING SEM TONGJI UNIVERSITY Money and the payment system 1 Type Content Checks  An instruction to the bank to pay a specified amount of fiat money to the holder of the check E Money  Electronic settlement of payment needs Evolution of Payment System Chapter 2 Money and Monetary System

The Economics of Money and Banking Chapter 2 Money and Monetary System 》》 Function of Money 1 ▣Standard of value ▣Means of exchange Money and the payment System ▣Means of payment Means of store ▣Vorld money 10 GUO YING SEM TONGJI UNIVERSITY

The Economics of Money and Banking 10 GUO YING SEM TONGJI UNIVERSITY 1 Function of Money Money and the payment System Standard of value  Means of exchange Chapter 2 Money and Monetary System  Means of payment Means of store World money