Chapter 24
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This document outlines key terms from three sections of a civics and economics vocabulary chapter. Section one defines coins, currency, commercial banks, savings and loan associations, and credit unions. Section two explains the central bank (Federal Reserve System), Federal Open Market Committee, monetary policy, discount rate, reserve requirements, and open market operations. Section three describes checking accounts, savings accounts, and certificates of deposit. Each term is accompanied by a prompt for identifying similarities and differences to other terms.
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American Sign Language (ASL) developed as a language for deaf individuals to communicate. However, the introduction of cochlear implants threatens the future of ASL and deaf culture. The document discusses the history and development of ASL, how it allows deaf individuals to communicate through gestures and facial expressions. It also examines the controversy around cochlear implants, with some seeing them as a medical solution while others in the deaf community view them as a threat to the preservation of ASL and deaf identity.
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2016 ft ulecture02notemonetary
The document provides an overview of monetary systems, including the meaning of money, the Federal Reserve system, and how banks impact the money supply. It begins by defining money and describing its key functions. It then explains that the Federal Reserve is the central bank of the US and oversees monetary policy through tools like open market operations and reserve requirements. Banks expand the money supply through fractional reserve banking and the money multiplier effect. The document also notes challenges in controlling the money supply due to the independent actions of depositors and bankers.
ch02.ppt
This chapter discusses the monetary system, including how money moves from savers to businesses through direct and indirect transfers. It identifies the key participants in the US monetary system as the central bank (Federal Reserve System) and the banking system. The chapter also covers the functions and development of money in the US, measures of the money supply, and relationships between money supply and economic activity. It concludes with an overview of developments in the international monetary system.
The international financial system
This document provides an overview of the international financial system. It defines key concepts such as the financial system, financial markets, and their functions in facilitating the transfer of funds from surplus to deficit units. It describes the main elements that make up the international financial system, including dealers (investors, borrowers, participants), money markets, capital markets, and instruments used in each. It also explains various mechanisms for international financing, such as international loans, bonds, foreign direct investment, and foreign portfolio investment. The document serves as an introductory report on the topic of the international financial system.
Week-1 Into to Money and Bankingand Basic Overview of U.S. Fin.docx
Week-1 Into to Money and Banking
and Basic Overview of U.S. Financial System
Money and Banking Econ 311
Instructor: Thomas L. Thomas
Financial markets transfer funds from people who have excess available funds to people who have a shortage.
They promote grater economic efficiency by channeling funds from people who do not have a productive use for them to those who do.
Well functioning financial markets are a key factor in producing economic growth, where as, poor functioning financial markets are a major reason many countries in the world remain poor.
Financial Markets
A security or financial instrument is a claim on the issuer’s future income or assets.
A bond is a debt security (IOU) that promises to make payments periodically for a specified period of time.
The bond market is especially important economic activity because it enables businesses and the government to borrow and finance their activities and because it is where interest rates are determined.
An interest rate is the cost of borrowing money or the price to rent (use someone else’s) funds.
Because different interest rates tend to move in unison, economist frequently lump interest rates together and refer to the “interest rate”.
Interest rates are important on a number of levels:
High interest rates retard borrowing
High interest rates induce saving.
Lower interest rates induce borrowing
Lower Interest rates retard saving
Information Asymmetry and Information costs
Why Financial Intermediaries
In the neo-classical world economists have argued financial intermediaries are not necessary. Savers (investors) could manage their risks through diversification.
The logic rests on the perfect market assumption – that is investors can always through their own borrowing and lending compose their portfolios as they see fit, without costs. In such a world there are no bankruptcy costs.
In such a world if taken to the extreme, perfect and complete markets imply that there is no need for financial institutions to intermediate in the financial (capital markets) as every investor (saver) has complete information and can contract with the market at the same terms as banks. E.g. Information Asymmetry
Why Financial Intermediaries Bonds
A common stock (usually called stock) represents a share of ownership in a corporation.
It is usually a security that is a claim on the earnings and assets of the corporation.
Issuing stock and selling it to the public (called a public offering) is a way for corporations to raise the funds to finance their activities.
The stock market is the most widely followed financial market in almost every country that has one – that is why it is generally called the market – here “Wall Street.”
The stock market is also an important factor in business investment decisions, because the price of shares affects the amount of funds that can be raised by selling newly issued stock to finance investment spending. (Note impact examples..
Money And The Financial System
Money evolved from barter systems through the use of commodities as a medium of exchange and store of value. The development of coinage and paper money based on gold and silver standards addressed issues with bartering and established money as a unit of account. The establishment of fractional reserve banking through goldsmiths further developed money by allowing the creation of paper claims that functioned as money. The Federal Reserve System was created in 1913 to oversee banking and monetary policy by regulating the money supply and financial system.
Marketsnotes
1. Financial markets allow individuals and organizations to exchange financial assets and funds through intermediation. Money markets deal in short term debt up to 1 year, while capital markets trade longer term equity and debt.
2. Financial institutions serve as intermediaries in these markets since they are imperfect. Major institutions include commercial banks, savings institutions, credit unions, finance companies, mutual funds, securities firms, hedge funds, insurance companies and pension funds.
3. Interest rates are determined by the interaction of supply and demand in the loanable funds market. Factors like expected inflation, economic growth, and money supply influence rates by shifting supply and demand curves. The term structure of interest rates shows the relationship between yields of different term securities.
Bba 2 be ii u 2.2 demand and supplyofmoney
This document discusses the concepts of money and inflation. It defines money, explores its functions and determinants of money supply. Money supply is measured using various approaches like M0, M1, M2, M3, and M4. The document also examines the demand for money based on the transaction motive, precautionary motive, and speculative motive in Keynes' liquidity preference theory. It discusses the causes of inflation including increases in money supply, decreases in goods supply, changes in demand for money and goods. Inflation is calculated using the wholesale price index and consumer price index. The main types of inflation are defined as demand-pull and cost-push inflation.
Bba 2 be ii u 2.2 demand and supplyofmoney
This document defines money and discusses its functions and determinants of money supply. It defines money as anything widely accepted as payment or that acts as a medium of exchange, store of value, and unit of account. Money serves four main functions: medium of exchange, unit of account, store of value, and deferred payment. The money supply is determined by the monetary base (cash and reserves) and the money multiplier, and includes different components like currency, demand deposits, savings deposits, and time deposits. The velocity of circulation and liquidity preferences also impact the money supply. The demand for money stems from its use in transactions, as a precautionary asset, and for speculative purposes.
Financial services
The document discusses the financial system and intermediaries. It defines the financial system as comprising financial assets, institutions, and markets that enable financial transactions. There are three main components - financial assets like loans and deposits, financial institutions like banks and mutual funds, and financial markets like money markets and capital markets. Financial intermediaries play an important role by channeling funds from surplus to deficit areas and reducing risks and transaction costs. The main types of intermediaries are depository institutions, contractual savings institutions, and investment intermediaries.
The EURO and Financial Markets
For all those interested in "The EURO and Financial Markets" - my new infoposter "ECONOMICS" is now available:
- the poster gives an overview of the development of economic theory from its beginnings.
- the poster shows the historical roots of economic ideas and their application to contemporary economic policy debates.
View and order at http://www.cee-portal.at/PrestaShop
Best regards
Martin Kolmhofer
Investment Management - Financial Market and Institutions
This document provides an overview of financial markets and institutions. It defines key terms like financial system, markets, institutions and regulations. It describes the main components and functions of the financial system including borrowing/lending, price determination and risk sharing. It also outlines the major types of financial institutions like commercial banks, investment funds, insurance companies and their risk-reducing roles. Finally, it discusses reasons for financial regulation including increasing information transparency and ensuring system stability.
Investment Management Financial Market and Institutions
This document provides an overview of financial markets and institutions. It defines key terms like financial system, markets, institutions and regulations. It describes the main components and functions of the financial system including borrowing/lending, price determination and risk sharing. It also outlines the major types of financial institutions like commercial banks, investment funds, insurance companies and their risk-reducing roles. Finally, it discusses reasons for financial regulation including increasing information transparency and ensuring system stability.
money-market-1(1).pdf
Money market pdf that will help you understand further its definition, importance, classification, structure and examples. There are a lot of examples here and it is for everyone that needs to know about money market.
Monetary Policy Tools
The document summarizes a presentation about the three main monetary policy tools used by central banks: open market operations, reserve requirements, and discount window lending. It focuses on how the Federal Reserve Bank of New York uses open market operations to influence monetary base and interest rates by buying and selling government securities. Reserve requirements determine the minimum reserves banks must hold, and changing them impacts bank lending. Discount window lending provides banks reserves to meet demands or requirements, with interest rates like the discount rate influencing economic activity.
do_independant_central_banks_compromise_representative_democracy
Independent central banks control monetary policy without direct oversight from elected officials, raising concerns about democratic accountability. Most experts argue low and stable inflation requires delegating monetary powers due to time inconsistency problems and governments' tendency to pursue short-term goals. Central banks have some independence over goals, targets, and instruments but remain accountable through reporting requirements and the ability of elected bodies to intervene in extreme cases. Transparency and coordination between central banks and governments balances economic efficiency with democratic values.
financialmarketandinstitutions.pptx
This document provides an overview of financial markets and institutions. It begins with definitions of financial markets and systems, describing how financial markets channel funds from surplus to deficit units. It then covers the structure of financial markets, including debt vs equity markets, primary vs secondary markets, and money vs capital markets. The main instruments traded on financial markets are also outlined. The document discusses the functions of financial markets and introduces the role of financial institutions in providing indirect finance. It concludes with a section on financial regulation and why regulating financial markets aims to increase information for investors and ensure system soundness.
financialmarketandinstitutions.pptx
This document provides an overview of financial markets and institutions. It begins with definitions of financial markets and how they function to channel funds from surplus to deficit units. It describes the structure of financial markets, including the key differences between debt and equity markets, primary and secondary markets, and money and capital markets. The main instruments traded in both money and capital markets are outlined. The document then shifts to defining financial institutions and their primary functions in facilitating indirect finance. The major types of financial institutions such as depository institutions, contractual savings institutions, and investment intermediaries are described. Finally, the document discusses regulations of financial markets, which aim to increase information for investors and ensure overall financial system soundness.
Central Bank,Mas
The central bank is responsible for a country's monetary policy and implements that policy through interest rates, money supply controls, and other tools. The Monetary Authority of Singapore (MAS) was established in 1971 to oversee monetary functions and promote monetary stability. The MAS accepts deposits, grants loans, regulates banks and other financial institutions, issues currency, and acts as the government's banker and manager of foreign assets. Its goals include maintaining monetary stability and a strong currency.
Copelovitch slides
This document provides an overview of the global financial crisis, including its causes in the subprime mortgage lending boom and bust in the United States, the effects on credit markets and the real economy, and policy responses both domestically and internationally. It discusses the difficulties in policymaking given tradeoffs between liquidity and moral hazard, regulation and competitiveness, and domestic and international priorities. While reform goals are broadly agreed upon, specific policies and institutions face disagreement due to these complex tradeoffs and competing political interests among nations.
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Week-1 Into to Money and Bankingand Basic Overview of U.S. Fin.docx
Week-1 Into to Money and Bankingand Basic Overview of U.S. Fin.docx
Investment Management - Financial Market and Institutions
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Chapter 24
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