[教育学]HND金融业导论banking.pptVIP

BUSINESSFinancial Sector: An Introduction Feb. 28 2011 Money Gold? Yellow, glittering, precious gold? No, Gods, I am no idle votarist! ...Thus much of this will make black white, foul fair,Wrong right, base noble, old young, coward valiant.... Why, thisWill lug your priests and servants from your sides,Pluck stout men’s pillows from below their heads:This yellow slaveWill knit and break religions, bless the accursed; Shakespeare in Timon of Athens: Money What is money? Money is a token that is widely accepted as a medium of exchange.? The token can be tangible like a coin or note, or intangible like a bank deposit.? Money The history of Money commodity money 实物货币 金属货币 convertible on demand into a valuable commodity like gold fiat money 信用货币? If the tokens are intrinsically worthless and inconvertible, the government must endow them with a special status to make them viable as money.? Money Barter Money How did currency begin to solve the problems of bartering? From 1200 B.C. to 50 B.C. different currencies were invented around the world. The Chinese used a type of shell called Cowrie shells and metal tools as money, while the Athenians used nails and the Saxons, sword blades. Even polished volcanic rock was used as money in parts of America. The objects were easy to carry and tough so could be kept and be stored for along time. However, there were still problems. Objects werent easy to divide into smaller amounts, so you couldnt make up differences in amounts (or give people change), and with so mangy different currencies being used, people couldnt always agree on what things were worth. So, there were still lots of problems with using these objects as currency. Coins and notes were the way forward. Money How did currency begin to solve the problems of bartering? Money Qualities of Money (P48) Acceptability - if money is to be an effective medium of exchange, it has to be universally acceptable (or at least acceptable within the