1. Pengantar Ek Moneter
Transcript of 1. Pengantar Ek Moneter
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EKONOMI MONETER
Prepared by Shochrul Rohmatul Ajija
Source:
Frederic S. Mishkin The Economics of Money,Banking, and Financial Markets, Eight Edition
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Why Study Money, Banking, &
Financial Markets?
Any item that people are generally willing to
accept in exchange for goods, services, and
financial assets such as stocks or bonds iscalled Money
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Moneys Function
Medium of exchange
People who trade goods, services, or financial assets arewilling to accept money in exchange for these items
Store of value
An individual can set money aside today with an intent topurchase items at a later time
Unit of account
People maintain their financial accounts by using money to
value goods, services, and financial assets Standard of deferred payment
People agree to loan contracts that call for futurerepayments in terms of money
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Methods of Exchange and the
Evolution of Money
Barter
A person who wished to exchange a good or service had to find a secondindividual willing to purchase that good or service, vice versa Itrequires a double coincidence of wants
Commodity Moneys
A good with a nonmonetary value that is also used as money, e.g. gold.Purchasing power of money: the value of money in terms of the amountof real goods and services it buys
Commodity Standard
A money unit whose value is fully or partially backed by the value of someother physical good such as gold or silver
Gold standard: a monetary system in which the value of money is linked tothe value of gold
Bimetallic standard: a monetary system in which the value of moneydepends on the values of two precious metals, such as gold and silver
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Methods of Exchange and the
Evolution of Money
Fiat Money
A token that has value only because it is
accepted as money Electronic Money (e-money)
Money that people can transfer directly via
electronic impulses
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Discussion
Can barter make a
comeback ininternet?
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Glossaries
Liquidity is the relative ease and speed with
which an asset can be converted into cash
Hyperinflation is an extreme inflation in whichthe inflation rate exceeds 50% per month
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Measuring Money
M3is a measure of money that adds to M2: large-
denomination time deposits, long-term repurchase
agreements, and institutional money market fund
shares
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Measuring Money
Monetary aggregates are the various measures of
the money supply used by the Federal Reserve
System (M1,M2,& M3)
M1 is a measure of money that includes currency,
travelers checks, and checkable deposits
M2 is a measure of money that adds to M1: money
market deposit accounts, money market mutual fundshares, small-denomination time deposits, savings
deposits, overnight repurchase agreements, and
overnight Eurodollars
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Measuring Money
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Measuring Money
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THANKS FOR YOUR
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