Class notes
Class notes ISB 551 Islamic Economics: Principles and Analysis
Good luck in Islamic Economic (ISB 551) Love from student ISBA new syllabus
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
Seller
Follow
Content preview
ISLAMIC MACROECONOMICSMONEY AND MONETARY
POLICY
,MONEY
, MONEY AND ITS FUNCTION
From a conventional perspective,
• Barter trade, has many
‘economists define money (also
disadvantages such as the
referred to as money supply) as
requirement for double
anything that is generally
coincidence of want, the
accepted in payment for goods
indivisibility of goods and
and services or in the repayment
services, and pricing
of debts’ (Mishkin, 2007, p. 49).
challenges. As such,
introducing money was
This implies a broader definition of
necessary for the development
money, other than just notes or
of societies.
coins (currency). It includes
demand and savings deposits,
• Money today does not refer
since cheques issued from
only to currency
demand deposits are also
(paper notes and coins).
accepted as payment for
purchases, and savings deposits
can be quickly converted into
currency or demand deposits.
, FUNCTION OF MONEY
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Qonly. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73314 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now