We went over exchange rates, who buys and sells foreign currency, and the difference between currency appreciation and depreciation. We also talked about supply and demand in foreign exchange markets. Purchasing power parity was covered.

We finished up monetary policy and went over how a central bank can effect an economy. We also examined the equation of exchange. We then started exchange rates.

We defined money and talked about how it is measured. We then talked about central banks and their roll in the economy. We also defined bonds and talked about how central banks create money.