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Complete 1 page APA formatted article: Overall review for ECO320. Money and Banking Money and Banking The ECO320 Money and Banking revolved around basic cash flow concepts and building blocks of an ec
Complete 1 page APA formatted article: Overall review for ECO320. Money and Banking Money and Banking The ECO320 Money and Banking revolved around basic cash flow concepts and building blocks of an economy. The concepts include.
1. Banking is a platform that links the borrower and lenders in an economy.
2. Banking facilitates the storage of surplus assets in terms of money and other commodities of high value.
3. Profits can be invested in external opportunities, reinvested into a business for growth and development, to earn capital gains or deposited in banks.
The above concepts of money and banking will help me in breaking down other terminologies in my course. The acquired knowledge in money and banking will assist me in learning other complex concepts in my studies. Additionally, I will be able to have a firm foundation in money matters that will go far in enriching my knowledge. The concepts will also enable me to relate new terms with those in the money and banking class. I will also be able to explain the role played by money and the banking sector in the economic growth. The terminologies gained in the money and banking class will lay a foundation for my future studies in the course. I will use the concepts to deepen my understanding of the value and importance of money in my studies.
The money and banking concepts will also assist me in the day-to-day life as I engage in financial transactions. Most importantly, I will be able to make proper decisions when undertaking banking transactions. The concepts will enable me make the best out of my financial deposits in the bank. I will also be able to decide the best time to borrow or deposit money from the bank. The concepts will enable me make the right decisions whenever I undertake a financial transaction. I will also be in a better position to develop sound strategic planning and management of my both liquid and fixed assets.
Burton, M., & Brown, B. (2014). The Financial System and the Economy: Principles of Money and Banking. Routledge.