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...Economics monetary lecture notes winter allen head department of queen s university these draw extensively from the book modeling economies nd ed by bruce champ and scott freeman cambridge press introduction in this course we will consider institution money specically at means that not necessarily or exclusively order reasons for existence economy particular characteristics implications conditions give rise to it certain concrete issues policy relevance as mentioned above is an i mean a social inven tion performs functions societies have used thousands years vast majority existed been plays central role exchange courses however often study models do include typi cally has no even if agents populating model would use value other than intrinsic whatever may good rather its must help overcome friction fact frictions are necessary account signals outset theoretical going be relatively hard much time frictionless like perfect competition complete markets essentially there one market absence...