Unit 5 DQ1: Economics of Money

The average person thinks of the currency in their wallet or funds in their bank account when thinking of the word “money,” but economists think about the concept of money in a much broader sense.

What are the key features that are required to be considered money?
What are some examples of things that have been used as money historically (you can explore different economies as well, not just the USA)?
Bitcoin and other cyber-currencies are frequently in the news now; do you think they should be considered money? Why or why not? (Explain all of your answers and provide academic journal articles to support your answers.)

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