This document discusses money and banking concepts. It defines money as anything generally accepted in exchange for goods and services, and identifies four key functions of money: medium of exchange, unit of account, store of value, and standard of deferred payment. It also discusses the money supply, functions of banks and other financial institutions, international banking, and how the banking system creates money through fractional reserve banking.
I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
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Money, Medium of Exchange, Unit of Account, Deferred Payment, Types of Money, Commodity Money, Full-bodied Money, Paper Money, Fiat Money, Fiat Money: token coins, Check-able Deposits, Physical Properties of Money,
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
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Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
2. “Money is whatever is generally
accepted in exchange for goods and
services—accepted not as an object to
be consumed but as an object that
represents a temporary room of
purchasing power to be used for
buying still other goods and services.”
-- Milton Friedman
3. What is Money?
Money is anything that is generally
acceptable to sellers in exchange for
goods and services.
A liquid asset is an asset that can
easily (i.e., quickly, cheaply,
conveniently) be exchanged for
goods and services.
4. What is Money?
Functions of Money
1) Medium of exchange
2) Unit of account
3) Store of value
4) Standard of Deferred Payment
5. Medium of Exchange (1)
The use of money as a medium of
exchange (to make transactions) lowers
transactions costs.
Trade without money, directly exchanging
goods for goods, is called barter.
– Barter requires a double coincidence of
wants—each party to the exchange has to
want what the other has to trade.
– Finding someone else who wants what you
have to trade and who has what you want is
time-consuming and costly.
6. Medium of Exchange (2)
A medium of exchange must be:
– Widely accepted for payment
– Portable: easy to transport and transfer
to the seller
– Divisible: measurable in both small and
large units
7. Unit of Account
Money acts as a common unit of
measurement.
This allows us to compare the values
of very dissimilar things.
It makes accounting possible.
As a result of these things, it lowers
information costs.
8. Store of Value
Money makes it possible to carry buying power
forward into the future.
Therefore, for money to be a store of value, it
must be durable.
– Durability is the ability to retain value over time.
– Inflation can reduce the effectiveness of money as a
store of value.
– This can lead to currency substitution—the use of
foreign money as a substitute for domestic money when
the domestic economy has a high rate of inflation.
9. Standard of Deferred Payment
Debt is denominated in money terms.
The standard for repayment is money.
There is a difference between money and
credit:
– Money is what you use to pay for goods and
services.
– Credit is available savings that are lent to
borrowers to spend.
– Credit is debt, something you owe.
10. Money Supply
Money Today consists of:
– Currency is the bills and coins that we
use.
– Deposits are also money because they
can be converted into currency and are
used to settle debts.
11. What is Money?
The narrowest and most liquid measure of the
money supply.
– It includes financial assets that are immediately
available for spending on goods and services.
includes:
– Currency
– Travelers’ Checks
– Demand Deposits (checking accounts)
– Other Checkable Deposits (interest-bearing checking)
Demand Deposits and Checkable Deposits are
called transactions accounts—these are checking
accounts that can be drawn upon to make
payments.
12. About Currency
Currency generally blocked by gold or
silver but U.S. currency today is not
backed by gold or silver.
– It is backed only by the confidence and trust of
the public.
– It is a fiduciary monetary system. (“Fiducia”
means “trust” in Latin.)
Money backed by gold or silver (or
something else of value) is called
commodity money.
13. Problems with Commodity Money
At times, the precious metal in gold or
silver coins may be worth more than the
face value of the coins.
– In such situations, the public will begin to
hoard the coins.
– According to Gresham’s Law, if two coins have
the same face value but different intrinsic
(commodity) values, the cheaper coin will be
used to make transactions and the other coin
will be hoarded. “Bad money drives out good.”
14. What is Money?—
Less liquid assets that can be
converted to assets quickly and at
low cost.
Adds:
– Savings deposits
– Small denomination time deposits (CDs)
– Retail money market mutual funds
15. Global Money
An international reserve asset is an asset used to settle
debts between governments. Today gold is not the most
common Int’l Reserve Asset, national currencies serve this
function.
Thus these currencies are referred to as international
reserve currencies.
A composite currency is an artificial unit of account that is
an average of the values of several national currencies.
– SDR: Special Drawing Right, average of the values of U.S.
dollar, the euro, the Japanese Yen, and the U.K. pound.
Created by the IMF in 1970 as an int’l reserve asset.
– ECU: European Currency Unit. Replaced by the Euro.
17. Financial Intermediaries
Four Types of Financial Intermediaries
1) Commercial banks
2) Savings and loan associations
3) Savings banks and credit unions
4) Money market mutual funds
18. Financial Intermediaries
Commercial Banks
– Financial institutions that offer deposits on which
checks can be written. The make loans to households
and businesses. They are corporations.
– Originally only commercial banks could offer (non-
interest-bearing) checking accounts.
Thrifts (Saving) Institutions
– Savings and Loan Associations, Credit Unions, Mutual
Savings Banks.
– Created to encourage saving, hence “thrift”.
– Until 1980, these institutions could offer higher interest
rates on savings accounts than banks.
– Now “thrifts” can offer many of the same services as
commercial banks.
19. International Banking (1)
Eurocurrency market or “offshore
banking”: the market for deposits and
loans generally denominated in a currency
other than the currency in which the
transaction occurs.
– For example, a U.S. firm may borrow U.S.
dollars from a bank in London.
– Because foreign banks do not operate under
U.S. legal restrictions, they may offer better
interest rates on deposits and loans.
– On the other hand, foreign banking laws do
apply and may cause other problems.
20. International Banking (2)
International Banking Facilities (IBFs)
were legalized in December 1981.
An IBF is a division that is allowed to
receive deposits from and make loans to
nonresidents without the restrictions that
apply to domestic banks.
This allows domestic banks to compete
more fairly with offshore banks.
21. Informal Markets
in Developing Countries
ROSCA—Rotating of Savings and
Credit Associations
– Operate like savings clubs
– Example: 12 members contribute every
month, and then every 12th month each
member receives the full amount
contributed by everyone.
22. Fractional Reserve Banking
A system in which banks keep less
than 100 percent of the deposits
available for withdrawal.
An outgrowth of goldsmith practices.
23. How Banks Create Money
Reserves: Actual and Required
– The reserve ratio is the portion of a bank’s
total deposits that are held in reserves.
– The required reserves ratio is the ratio of
reserves to deposits that banks are required,
by regulation, to hold. Required reserves are
those reserves which must be kept on hand or
on deposit with the Central Bank in order to
comply with the reserve requirements.
– Excess reserves are the cash reserves beyond
those required, which can be loaned.