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Chapter 13 provides knowledge of money. In this chapter, you will: Examine the functions of money, its components, and the various definitions of money; learn about the demand for and supply of money and about equilibrium in the money market; see how money is created and consider the money multiplier. | Understanding Economics Chapter 13 Money Copyright © 2002 by McGraw-Hill Ryerson Limited. All rights reserved. 2nd edition by Mark Lovewell and Khoa Nguyen Chapter Objectives In this chapter, you will: examine the functions of money, its components, and the various definitions of money learn about the demand for and supply of money and about equilibrium in the money market see how money is created and consider the money multiplier Copyright © 2002 by McGraw-Hill Ryerson Limited. All rights reserved. * The Functions of Money There are three main functions that money performs a means of exchange (it overcomes the need for barter) a store of purchasing power a measure of value Copyright © 2002 by McGraw-Hill Ryerson Limited. All rights reserved. * Deposit-Takers Deposit-takers accept funds provided by savers and lend these funds to borrowers hold cash reserves to meet the needs of depositors withdrawing funds Copyright © 2002 by McGraw-Hill Ryerson Limited. All rights reserved. * The . | Understanding Economics Chapter 13 Money Copyright © 2002 by McGraw-Hill Ryerson Limited. All rights reserved. 2nd edition by Mark Lovewell and Khoa Nguyen Chapter Objectives In this chapter, you will: examine the functions of money, its components, and the various definitions of money learn about the demand for and supply of money and about equilibrium in the money market see how money is created and consider the money multiplier Copyright © 2002 by McGraw-Hill Ryerson Limited. All rights reserved. * The Functions of Money There are three main functions that money performs a means of exchange (it overcomes the need for barter) a store of purchasing power a measure of value Copyright © 2002 by McGraw-Hill Ryerson Limited. All rights reserved. * Deposit-Takers Deposit-takers accept funds provided by savers and lend these funds to borrowers hold cash reserves to meet the needs of depositors withdrawing funds Copyright © 2002 by McGraw-Hill Ryerson Limited. All rights reserved. * The Canadian Financial System The four traditional pillars of the Canadian financial system were chartered banks trust companies insurance companies investment dealers Financial deregulation is allowing institutions in each pillar to perform a wider range of functions Copyright © 2002 by McGraw-Hill Ryerson Limited. All rights reserved. * Chartered Banks and Near Banks Chartered banks are deposit-takers allowed by charter to offer a wide range of financial services Near banks are deposit-takers that are not chartered and have more specialized services trust companies mortgage loan companies credit unions and caisses populaires Copyright © 2002 by McGraw-Hill Ryerson Limited. All rights reserved. * Chartered Banks and Near Banks in Canada Figure 13.1, Page 325 (total assets, $ billions, 31 July 2000) Assets Liabilities Trust and mortgage loan companies $ 12.2 Credit unions and caisses populaires 117.7 Total $129.9 Royal Bank $ 277.6 CIBC 265.8 Montreal 235.6 Scotiabank 243.1 Toronto-Dominion
