Introduction to Money and Banking

Copyright © 2007 Pearson Education, Inc. Publishing as Pearson Addison-WesleyChapter 6I/O Streams as an Introduction to Objects and Classes Slide 6- 3Copyright © 2007 Pearson Education, Inc. Publishing as Pearson Addison-WesleyOverview6.1 Streams and Basic File I/O 6.2 Tools for Stream I/O6.3 Character I/O6.4 Inheritance Copyright © 2007 Pearson Education, Inc. Publishing as Pearson Addison-Wesley6.1Streams and Basic File I/O Slide 6- 5Copyright © 2007 Pearson Education, Inc. Publishing as Pearson Addison-WesleyI/O StreamsI/O refers to program input and outputInput is delivered to your program via a stream objectInput can be fromThe keyboardA fileOutput is delivered to the output device via a streamobjectOutput can be to The screenA file Slide 6- 6Copyright © 2007 Pearson Education, Inc. Publishing as Pearson Addison-WesleyObjectsObjects are special variables thatHave their own special-purpose functionsSet C++ apart from earlier programming languages Slide 6- 7Copyright © 2007 Pearson Education, Inc. Publishing as Pearson Addison-WesleyStreams and Basic File I/OFiles for I/O are the same type of files used tostore programsA stream is a flow of data.Input stream: Data flows into the programIf input stream flows from keyboard, the program willaccept data from the keyboardIf input stream flows from a file, the program will acceptdata from the fileOutput stream: Data flows out of the programTo the screenTo a file Slide 6- 8Copyright © 2007 Pearson Education, Inc. Publishing as Pearson Addison-Wesleycin And cout StreamscinInput stream connected to the keyboardcout Output stream connected to the screencin and cout defined in the iostream libraryUse include directive: #include <iostream>You can declare your own streams to use with files. Slide 6- 9Copyright © 2007 Pearson Education, Inc. Publishing as Pearson Addison-WesleyWhy Use Files?Files allow you to store data permanently!Data output to a file lasts after the program endsAn input file can be used over and overNo typing of data again and again for testingCreate a data file or read an output file at yourconvenienceFiles allow you to deal with larger data sets Slide 6- 10Copyright © 2007 Pearson Education, Inc. Publishing as Pearson Addison-WesleyFile I/OReading from a fileTaking input from a fileDone from beginning to the end (for now)No backing up to read something again (OK to start over)Just as done from the keyboardWriting to a fileSending output to a fileDone from beginning to end (for now)No backing up to write something again( OK to start over)Just as done to the screen [...]... only to the stream named in the call Slide 6- 3 Copyright © 2007 Pearson Education, Inc. Publishing as Pearson Addison-Wesley Overview 6.1 Streams and Basic File I/O 6.2 Tools for Stream I/O 6.3 Character I/O 6.4 Inheritance Slide 6- 45 Copyright © 2007 Pearson Education, Inc. Publishing as Pearson Addison-Wesley Manipulators  A manipulator is a function called Introduction to Money and Banking Introduction to Money and Banking By: OpenStaxCollege Cowrie Shell or Money? Is this an image of a cowrie shell or money? The answer is: Both For centuries, the extremely durable cowrie shell was used as a medium of exchange in various parts of the world (Credit: modification of work by “prilfish”/Flickr Creative Commons) The Many Disguises of Money: From Cowries to Bitcoins 1/3 Introduction to Money and Banking Here is a trivia question: In the history of the world, what item was used for money over the broadest geographic area and for the longest period of time? The answer is not gold, silver, or any precious metal It is the cowrie, a mollusk shell found mainly off the Maldives Islands in the Indian Ocean Cowries served as money as early as 700 B.C in China By the 1500s, they were in widespread use across India and Africa For several centuries after that, cowries were used in markets including southern Europe, western Africa, India, and China for a wide range of purchases: everything from buying lunch or a ferry ride to paying for a shipload of silk or rice Cowries were still acceptable as a way of paying taxes in certain African nations in the early twentieth century What made cowries work so well as money? First, they are extremely durable—lasting a century or more As the late economic historian Karl Polyani put it, they can be “poured, sacked, shoveled, hoarded in heaps” while remaining “clean, dainty, stainless, polished, and milk-white.” Second, parties could use cowries either by counting shells of a certain size, or—for large purchases—by measuring the weight or volume of the total shells to be exchanged Third, it was impossible to counterfeit a cowrie shell, but gold or silver coins could be counterfeited by making copies with cheaper metals Finally, in the heyday of cowrie money, from the 1500s into the 1800s, the collection of cowries was tightly controlled, first by the Portuguese and later by the Dutch and the English As a result, the supply of cowries was allowed to grow quickly enough to serve the needs of commerce, but not so quickly that they were no longer scarce Money throughout the ages has taken many different forms and continues to evolve even today What you think money is? Introduction to Money and Banking In this chapter, you will learn about: • • • • Defining Money by Its Functions Measuring Money: Currency, M1, and M2 The Role of Banks How Banks Create Money The discussion of money and banking is a central component in the study of macroeconomics At this point, you should have firmly in mind the main goals of macroeconomics from Welcome to Economics!: economic growth, low unemployment, and low inflation We have yet to discuss money and its role in helping to achieve our macroeconomic goals You should also understand Keynesian and neoclassical frameworks for macroeconomic analysis and how these frameworks can be embodied in the aggregate demand/aggregate supply (AD/AS) model With the goals and frameworks for macroeconomic analysis in mind, the final step is to discuss the two main categories of 2/3 Introduction to Money and Banking macroeconomic policy: monetary policy, which focuses on money, banking and interest rates; and fiscal policy, which focuses on government spending, taxes, and borrowing This chapter discusses what economists mean by money, and how money is closely interrelated with the banking system Monetary Policy and Bank Regulation furthers this discussion 3/3 This page intentionally left blank An Introduction to Law and RegulationText and MaterialsIn recent years, regulation has emerged as one of the most distinct and importantfields of study in the social sciences, both for policy-makers and for scholarswho require a theoretical framework that can be applied to any social sector.This timely textbook provides a conceptual map of the field and an accessible andcritical introduction to the subject. 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The unique feature of .NET is the ___________supp ort that it provides [0.5] a) Multi-platform b) Multi-language 3. .NET is a whole new platform centered around the Intranet [0.5] a) True b) False 4. A program in .NET is first compiled by the language specific compiler into __________________ [1.0] a) Common Language c) Intermediate Language b) Runtime Language d) Visual Basic 5. What is the role of the CLR (Select all that apply) [2.0] a) Manages memory c) Compiles program into machine code b) Compiles program to a .exe file d) Compile once and run on any CPU & OS that supports the runtime. 6. Microsoft .NET is primarily made up of the following three components. [2.0] a) Visual Studio .NET c) 3 rd party .NET services b) Microsoft .NET products and services d) .NET platform itself 7. Select the two core technologies on which the .NET platform is based. [2.5] a) XML c) Internet Protocols b) WML d) Internet computing 8. 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C# is a ____________language. [0.5] a) purely Procedure-Oriented c) Procedure-Oriented and Object-Oriented b) partially Procedure-Oriented d) purely Object-Oriented 24. Manual memory management needs to be done in C# [0.5] a) True b) False [...]... certain knowledge of the cause of historical events in the same way as experimentation in the natural sciences Thus the historian, like the actor, must resort to specific understanding when enumerating the various 30Mises, 31Ibid., Theory and History, pp 306–08, 313–14 p 219 22 A History of Money and Banking in the United States: The Colonial Era to World War II motives and actions that bear a causal... wage increases and on the objectives of the “technostructure” of large business firms in 14Mises, Theory and History, p 309 p 301 16John Kenneth Galbraith, The New Industrial State (New York: New American Library, 1967), pp 189–207, 256–70 15Ibid., 16 A History of Money and Banking in the United States: The Colonial Era to World War II acceding to these demands and deciding what part of the cost increase... understand how they originated in the mind of the actor.”11 9It is true that in deriving theorems that apply to the specific conditions characterizing human action in our world, a few additional facts of a lesser degree of generality are inserted into the deductive chain of reasoning These include the facts that there exists a variety of natural resources, that human labor is differentiated, and that leisure... longer and more complex causal chains.”37 Rothbard points to the Marshall Plan as an example of the latter In this instance, the widely proclaimed motives of the architects of the plan were to prevent starvation in Western European nations and to strengthen their resistance to the allures of Communism Not a word was spoken about the goal that was also at the root of the Marshall Plan: promoting and subsidizing... Determinism,” pp 4–5 28 A History of Money and Banking in the United States: The Colonial Era to World War II mutual funds, or playing professional football, it is also the case that only a fraction of the population tends to excel at wielding coercive power Moreover, the law of comparative advantage governs the structure of relationships within as well as between organizations, accounting for the hierarchical... Buchanan and Robert D Tollison, eds (Ann Arbor: University of Michigan Press, 1984), pp 11–22 49For 32 A History of Money and Banking in the United States: The Colonial Era to World War II investigation of the actual motives of those individuals or groups whose actions they are analyzing Instead, their positivist methodology inclines them to mechanically impute to real actors in concrete historical... pursuing research in this paradigm.55 For example, in the preface to the book, Friedman and Schwartz write that their aim is to provide a prologue and a background for a statistical analysis of the secular and cyclical behavior of money in the United States, and to exclude any material not relevant to that purpose.” In particular it is not their ambition to write a full-scale economic and political history. .. A History of Money and Banking in the United States: The Colonial Era to World War II human motives underlying the emergence of economic institutions and processes The second and even more profound flaw in the new economic history is the relationship it posits between theory and history For North, history is the source of the “empirical evidence”—that is, “ideally, statistical data”—against which INTRODUCTION TO BANKS & BANKING PRESENTED BY TRAN HOANG HIEP THỊ TRƯỜNG TÀI CHÍNH VÀ CÁC ĐỊNH CHẾ TÀI CHÍNH FINANCIAL MARKET & FINANCIAL INSTITUTIONS FINANCIAL MARKET BANKS BANKS INSURANCE INSURANCE COMPANIES COMPANIES FINANCE FINANCE COMPANIES COMPANIES LEASING LEASING COMPANIES COMPANIES SECURITIES SECURITIES COMPANIES COMPANIES STOCK STOCK EXCHANGE EXCHANGE FACTORING FACTORING COMPANIES COMPANIES GOVERNMENT GOVERNMENT AGENCIES AGENCIES NON-GOVT NON-GOVTORGANIZATIONS ORGANIZATIONS((NGO) NGO) NHẬP MÔN NGÂN HÀNG & NGHIỆP VỤ NGÂN HÀNG PRESENTED BY TRAN HOANG HIEP NỘI DUNG CHÍNH The role of banks How does a bank makes profits? Bank–Customer relationships Types of customer Operations of a bank Types of bank The banking system of Vietnam VAI TRÒ CỦA NGÂN HÀNG THE ROLE OF BANKS Nguồn gốc ngân hàng Origin of banks The word BANK is derived from the Italian BANCA, means BENCH Money lenders in Northern Italy originally did business in open areas, or big open rooms, with each working from his own bench or table Tại ngân hàng tồn tại? Why banks exist? Banks provide services related to money: Keeping money safe Lending money Transferring money Các dòch vụ ngân hàng Banking services Deposits Loans Payments Các dòch vụ tài Financial services Foreign Exchange (F/X) Money Market (M/M) Cash Management Investment Leasing Syndicated lending Factoring Flotation Etc… Quan hệ Con nợ - Chủ nợ (Debtor- Creditor) Customer is a debtor to the bank when: - he borrows money from the bank - he withdraws money in excess of the balance in his account (overdraft) - He is using a credit card issued by the bank Quan hệ Con nợ - Chủ nợ (Debtor- Creditor) Customer is a creditor of the bank when: - he deposits his money into the bank - the bank is having obligation to execute a payment in favour of the customer Quan hệ Đại lý / Ủy thác (Agency relationship) - When the bank s collecting money (payment) on behalf of a customer (cheques, collections, bills of exchange…) - When the bank is providing payment services on behalf of / under instructions of a customer (payroll services, standing orders…) Quan hệ Gửi & Giữ tài sản (Bailor - Bailee) - When a customer (the bailor) deposits valuable documents or things with the bank (the bailee) for safe keeping (Dịch vụ cho th két sắt – Custody) Quan hệ Cầm cố chấp (Mortgager - Mortgagee) - When a customer authorizes the bank to keep/manage their properties as collateral (security) for a loan granted by the bank CÁC LOẠI KHÁCH HÀNG TYPES OF CUSTOMER BANK’S BANK’S CUSTOMERS CUSTOMERS PERSONAL PERSONAL CUSTOMERS CUSTOMERS CORPORATE CORPORATE CUSTOMERS CUSTOMERS FINANCIAL FINANCIAL CUSTOMERS CUSTOMERS KHÁCH KHÁCHHÀNG HÀNGCÁ CÁ NHÂN NHÂN KHÁCH KHÁCHHÀNG HÀNG DOANH DOANHNGHIỆP NGHIỆP KHÁCH KHÁCHHÀNG HÀNG TÀI TÀICHÍNH CHÍNH ••individuals individuals(local (local and andforeign) foreign) ••enterprises, enterprises, busiensses busiensses ••financial financial institutions institutions ••families families(trading, (trading, manufacturing) manufacturing) ••organizations, organizations, agencies, agencies, associations, associations, schools… schools… ••investors, investors, brokers… brokers… CÁC LOẠI HÌNH NGHIỆP VỤ NGÂN HÀNG BANK’S OPERATIONS BANK’S BANK’S OPERATION OPERATION For ForPERSONAL PERSONAL CUSTOMERS CUSTOMERS For ForCORPORATE CORPORATE CUSTOMERS CUSTOMERS For ForFINANCIAL FINANCIAL CUSTOMERS CUSTOMERS PERSONAL PERSONAL BANKING BANKING COMMERCIAL COMMERCIAL BANKING BANKING F.I F.I.OPERATIONS OPERATIONS ••Deposits Deposits ••Correspondent Correspondent ••Personal Personaldeposits deposits ••Commercial Commercialloans loans ••Consumer Consumerloans loans ••Trade Tradefinance finance banking banking ••Treasury Treasuryoperations operations ••Personal Personalpayments payments (remittances, (remittances,transfers, transfers, cheques, cheques,bankdrafts…) bankdrafts…) ••Project Projectfinance finance ••Syndication Syndication ••Payments Payments(L/C, (L/C, Collections, Collections,T/T…) T/T…) ••Flotation Flotation ••Cards Cards ... they were no longer scarce Money throughout the ages has taken many different forms and continues to evolve even today What you think money is? Introduction to Money and Banking In this chapter,... final step is to discuss the two main categories of 2/3 Introduction to Money and Banking macroeconomic policy: monetary policy, which focuses on money, banking and interest rates; and fiscal policy,.. .Introduction to Money and Banking Here is a trivia question: In the history of the world, what item was used for money over the broadest geographic area and for the longest