13. Money and the Financial System

• Money and the Financial System
• The Evolution of Money
• What is Money?
• Money is a Medium of Exchange
• Money is a Unit of Account
• Money is a Store of Value
• Money is a Standard of Deferred Payment
• Commodity Money
• The Problems with Commodity Money
• Coins and Token Money
• The Early Stage of Modern Banking
• Fractional Reserve Banking System
• Paper Money
• Fiat Money
• Financial Institutions in the United States
• Financial Intermediaries
• Demand Deposits
• The Origins and Structure of the Federal Reserve System
• The Powers of the Federal Reserve System
• Reserve Funds
• An Overview of the Tools of the Federal Reserve System
• The Organization of the Federal Reserve System
• The Objectives of the Federal Reserve System
• Banking During the Great Depression
• Recent Problems with Depository Institutions