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KShs 100
Description
Topics to covered
- Definition and classification of money
- Functions of money, its importance relative to the barter system.
- Attributes of money
- Demand and supply of money, determinants of the liquidity preference motives.
- Exogenous fixed money demand
- The classical and Keynesian interest rate determination theories
- The liquidity trap and its macroeconomics implications
- The role of commercial banks and the credit (money creation process)
- Simple and complex money multipliers
- The role of Central Bank in the economy.