2. Contents
What is money?
Bartering
Development of money
Money around the world
Exchanging currency
Electronic money
The future of money
3. What is Money?
Bills and coins
Used to exchange for goods or services, or to pay a
debt
Question: What did people use in the early days before
money was invented?
5. Funny Money
Cowry (shell of a sea snail): Africa, China, India and
North America
Salt: early Romans
Gold and silver rings: ancient Egyptians
Rings and jewelry: tribes in the Celtic regions of
Europe
Donut shaped stones: Yap islanders of the Pacific
6. Gold and Silver Coins
The first coins were minted around 600 B.C. in
ancient Lydia.
Made of electrum, an alloy of gold and silver.
Stamped with a lion’s head.
Gold and silver are worth more than the face value of
the coin.
8. Representative Money
Money itself was worth nothing!
The government promised to back
up the money or exchange it for
silver or gold.
Representative money was used in
the US from the late 19th to the
early 20th century.
Gold and silver certificates were
official currency in the US for a
time.
9. Fiat Money
Money that is not backed by gold or other metals.
Fiat ~ from the Latin for let it be done.
It’s worth nothing but accepted because the
government declares it official money.
The government needs more money than they have.
10. Money Around the World
Task: Explore money around the world.
Popular currencies: US$, Euro.
11. Exchanging Currency
Why?
Purpose: To help you trade in your money for the
right amount of foreign currency.
Task: Currency conversion
12. Electronic Money
Discuss various examples.
Discuss the advantages and disadvantages of using
electronic money.
13. References
Clifford, T. (2009). Money through the ages. Vero
Beach, FL: Rourke Publishing LLC.
http://www.historyforkids.org/learn/economy.mone
y.htm
http://library.thinkquest.org/C004203/economic01.
htm
http://www.pbs.org/wgbh/nova/moolah/history.ht
ml
Notas del editor
1775: to pay for the Revolutionary War, the US issued Continentals, the first fiat money.1862: to pay for the Civil War, the US issued fiat currency called Greenbacks. These notes were green on the reverse side.Early Native Americans traded wampum, strings of white whelk shells. Spanish dollar was accepted as money in the US until 1857. Commonly known as pieces of eight. Also used in Canada. Later both countries have their own $.