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Money, Financial Institutions, and the Federal Reserve


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After you have read and studied this chapter, you should be able to

  1. Explain what money is and what makes money useful.


  2. Describe how the Federal Reserve controls the money supply.


  3. Trace the history of banking and the Federal Reserve System.


  4. Classify the various institutions in the U.S. banking system.


  5. Briefly trace the causes of the banking crisis of 2008–2009 and explain how the government protects your funds during such crises.


  6. Describe how technology helps make banking more efficient.


  7. Evaluate the role and importance of international banking, the World Bank, and the International Monetary Fund.







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