Concept and basic elements of monetary systems

National (sovereign) monetary system. Concept of national monetary system. Its elements. Monetary unit (tally). The Standard of price. Kinds of bank notes: credit both paper money and their emitters and appointment. Issue system. The issue legislation. Concept of the issue center.

National currency system. Concept NCS. Interrelation of national monetary and currency systems. Basic elements NCS. National currency. Conditions of convertibility (convertibility) of national currency. A mode of the rate of exchange. Parity of national currency. The international liquid position of the country and its national regulation. A regulation of international payments of the country and use of the international proceeds of credit. A mode of the national currency market and the gold market. National currency regulation and currency control. Kinds of convertibility of currencies: external, internal, freely and partially reversible currencies, the closed currencies. Conditions of convertibility of currencies. Direct and indirect methods of currency regulation. Currency restrictions and currency liberalism. Direct and indirect quotations. Fixed and floating rates. The international currency liquidity. Structure of the international liquid reserves. Демонетизация gold. Key (reserve) currencies. Collective currencies: SDR, ECU, AzKjU, euro, rewater rouble. A reserve position of the country in IMF.

Regional currency system. Concept, basic elements. Formation and evolution. Currency zones and currency blocks of 1930th Currency wars after Great depression. Regional currency integration after II World war: the European currency union, currency integration of member countries SEV, the Asian, Interamerican and African banks of development, a zone of franc, the currency union of the countries the Benelux countries. Optimum currency zones and their basic criteria. Euro zone. Dollarization as the form regional currency integration. Mercosur, NAPHTA, CAOR, Andes community. A zone of euro in the conditions of global financial crisis. The basic methods of regulation of regional currency systems.

The international currency system. Concept. Basic elements. Reserve currencies and international счетные units. A gold role in modern world currency system. Conditions of mutual convertibility of currencies. Interstate regulation of world currency system and the international currency liquidity. Unification of norms and rules of use of the international credit money and international payments.