Презентация на тему "The concept of money"

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  My Money Week , 9th of May, Cluj-Napoca The concept of MONEY by Gabriel Dombri

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  “I am not interested in money but in the things of which money is the symbol.” [Henry Ford]

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  1. The concept of money

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  The concept of money

  What is the difference between these banknotes?

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  What is the difference between these items?

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  So, then: What is money?

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  Money = any object accepted as means of exchange within a certain society or social context.

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  To create money, we need: + a social circumstance (i.e. the others) + a market + some objects (useful or not) + some needs or wishes + some perceived value + lots of trust in one another!

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  2. The functions of money

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  The functions of money

  Money is an instrument with various functions: "Money is a matter of functions four, a medium, a measure, a standard, a store."

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  The functions: 1. A medium of exchange

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  The functions: A medium of exchange A unit of account

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  The functions: A medium of exchange A unit of account A standard of deferred payment

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  The functions: A medium of exchange A unit of account A standard of deferred payment

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  The functions: A medium of exchange A unit of account A standard of deferred payment A store of value

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  3. Types of money

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  Types of money

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  Commodity money = is money whose value comes from a commodity out of which it is made. It is objects that have value in themselves as well as for use as money.

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  Commodity money = Gold Silver Copper Cattle Stones Shells Barley Cigarettes Candy 

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  Representative money = Objects that don’t have real value in themselves, but their value come from either the commodities they stand for or from a government regulation or law.

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  Representative money Commodity-backed money Fiat money

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  Representative money Commodity-backed money Fiat money Gold certificates Silver certificates

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  Representative money Commodity-backed money Fiat money Gold certificates Silver certificates Bills of credit Banknotes Coins All our money

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  Monetary systems and institutions: Banks Gold standard Bretton Woods System Nixon shock

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  3. A brief chronology

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  Chronology of money

  100,000 years ago -> Barter methods Gift economy

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  100,000 years ago -> Barter methods Gift economy 3000 BC -> Mesopotamia – the shekel Americas, Asia, Africa – shell money

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  Shell money

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  6500 BC -> Lydia – the silver coins Europe, Asia – metal coins 7th century AD -> China – first paper money Medieval Italy, Flanders – paper money

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  Lydian coin: First paper money, China Denarisbanales:

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  19th century -> Europe – gold & silver standard, banknotes USA – gold standard, banknotes 20th century -> Bretton Woods – gold & dollar 1970’s – Fiat dollar Cards, ATMs

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  21th century -> Financial institutions Credit & debit cards Online payments

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  Thank you!

  I am: Gabriel Dombri Marketing consultant E: gabriel@burcash.ro W: www.burcash.ro W: www.gabrieldombri.com