A brief history of the barter system and how coins and currency came into use. Includes links to related topics on the use of money.

Use this lesson to learn more about the Hawaiian economics system. Learn how they developed and used this specialized type of money system. "In this lesson, you will learn how specialization and division of labor increased productivity and made barter possible in the traditional Hawaiian economy."

Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters. Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition. The first edition of Principles of Macroeconomics by OpenStax is available in web view here.

By the end of this section, you will be able to:

Explain the various functions of money
Contrast commodity money and fiat money