Monetary Economics

Monetary Economics Inflation is taxation without legislation. -Milton Friedman Learning Objectives To understand the evolution of money, types, functions, meaning of inflation, types, causes, effects of inflation and measures to control. To know the various phases of trade cycle. Introduction Monetary Economics is a branch of economics that provides a framework for analyzing money and its functions as a medium of exchange, store of value and unit of account. It examines the effects of monetary systems including regulation of money and associated financial institutions.