Lancaster, United Kingdom

Money, Banking and Finance

Master's
Language: EnglishStudies in English
Subject area: economy and administration
Qualification: MSc
Kind of studies: full-time studies
Master of Science (MSc)
University website: www.lancs.ac.uk
Finance
Finance is a field that deals with the study of investments. It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainties and risks. Finance can also be defined as the science of money management. Market participants aim to price assets based on their risk level, fundamental value, and their expected rate of return. Finance can be broken into three sub-categories: public finance, corporate finance and personal finance.
Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Any item or verifiable record that fulfills these functions can be considered as money.
Banking
Commercial banks create checkbook money whenever they grant a loan, simply by adding new deposit dollars in accounts on their books in exchange for a borrower's IOU.
Federal Reserve Bank of New York; Friedman, David H. (1977). I Bet You Thought.... p. 19. OCLC 5356154. 
Banking
The actual process of money creation takes place in commercial banks. As noted earlier, demand liabilities of commercial banks are money. … Confidence in these forms of money also seems to be tied in some way to the fact that assets exist on the books of the government and the banks equal to the amount of money outstanding, even though most of the assets themselves are no more than pieces of paper...
Federal Reserve Bank of Chicago; Nichols, Dorothy M (1961). Modern Money Mechanics; a workbook on deposits, currency and bank reserves.. p. 3. OCLC 510802.  The 1992 revision of this booklet is available on wikisource
Money
The money pigs of capitalist democracy… Money has made slaves of us… Money is the curse of mankind. It smothers the seed of everything great and good. Every penny is sticky with sweat and blood.
Joseph Goebbels, quoted in The Nazi Party: A Complete History 1919-1945, Dietrich Orlow, New York: NY, Enigma Books, 2012, p 61. Goebbels’ article, “Nationalsozialisten aus Berlin und aus dem Reich”, Voelkischer Beobachter, Feb. 4, 1927
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