WEEK 1-2

• Money


  Anything which is used as a medium of exchange
• Money


  Anything that is authorized by the law to be generally accepted as medium of exchange and a standard of value within a given political territory and a given time
• Characteristics of good money

  • General Acceptability
  • Durability
  • Portability
  • Divisibility
  • Elasticity of supply
  • Stability of value
  • Cognizability
  • Homogeneity
  • Convertibility
• Functions of money

  • As a medium of exchange
  • As a standard of value
  • As a store of value
  • As a standard of deferred payment
• General Acceptability


  central bank notes and coins
• Durability


  quality to withstand the normal wear and tear
• Portability


  quality of being transported
• Divisibility


  the unit of account is divided into many different small denominations
• Elasticity of Supply


  quality to respond to the needs of the economy
• Stability of Value


  money's purchasing power is maintained
• Cognizability


  ability to easily recognized from the counterfeit
• Homogeneity


  uniformity
• Convertibility


  can be converted into other currencies
• Monet


  Latin word of money which means money or mint or "moneta" which means coins
• Mesopotamian shekel


  first known form of currency emerged nearly 5,000 yrs ago
• needs and requirements


  money was developed according to?
• remove the shortcomings of Barter System


  main aim of evolution of money
• Commodity Money


  it has value even if it is not used as money
• Barter System

  direct exchange of goods and services for other goods and services.
• Metallic Money


  consist of coins made of gold, silver, copper or nickel as a mode of payment.
• Paper Money


  when paper currency was introduced as a mode of payment.

  originated as a receipt issued by Goldsmiths
• Representative Paper Money


  is a check or other form of currency that can be exchanged for physical money in a stated amount
• Convertible Paper Money


  money is convertible into standard coins and made of gold or silver.
• Fiat Paper Money


  declared legal tender by the government that issues it.
• Credit Money


  includes bank money
• Monetary Policy


  the process by which the monetary authority of a country controls the supply of money
• Monetary Policy


  control of the quantity of money available in an economy and the channels by which new money is supplied.
• Central Bank


  financial institution that is responsible for overseeing the monetary system and policy of a nation or group of nations, regulating its money supply and setting interest rates.
• Bangko Sentral ng Pilipinas


  controls the supply and availability of money, the cost of money and the rate of interest in the Philippines.
• Dr. Eli M. Remolona, Jr.


  7th Governor of the Bangko Sentral ng Pilipinas
• Manual of Regulations for Banks (MORB)


  primary source of regulations governing entities supervised by the BSP.
• Reserve Requirements


  refer to the percentage of bank deposits and deposit substitute liabilities that banks must set aside in deposit with the BSP.
• Benigno S. Aquino II and Corazon C. Aquino


  500 peso bill
• Josefa Llanes Escoda, Jose Abad Santos and Vicente Lim


  1000 peso bill
• Diosdado P. Macapagal


  200 peso bill
• Manuel A. Roxas


  100 peso bill
• Sergio Osmeña


  50 peso bill
• Manuel L. Quezon 


  20 peso bill
• English Series


  quirino era
• Bagong Lipunan Series 


  Marcos era