 Now, we have already discussed the scope of monetary economics as a subject, then we discussed scope of monetary theory as a branch of monetary economy and finally, we have discussed scope of monetary policy which is another branch or the second branch of monetary economy. Now, we start topics in monetary economics, now our lecture introduction subject or subject of all branches is completed, so now we would like to know what are our actual topics in monetary economics, that was overview, now we will discuss each topic in detail. The first topic in this is because monetary economics deals with money, so the first topic on which I would like to know is meaning of money, who will be called as money and related to money, then there are many things, because if you remember in monetary economics I said there are three issues, the first issue was related to money, so we have to discuss many things about money, but the first question will be that we should know what is money, so we have to discuss the meaning of money, what is there in this, what is very important for the students of economics is that in economics, the meaning of money is taken by economists and generally in daily life people take the meaning of money, sometimes there is a difference, so the student of economics or any economist has to be clear that what are we taking from money in economics and how do we take it from money in daily life which people have not studied in economics, or where do we use the word money in daily life, now this is important, money and currency, this can also be used interchangeably that money is this or this is currency, so the meaning of money and the meaning of currency becomes the same, similarly sometimes in daily life we consider money and wealth as wealth and money, it is considered to be one thing, now this is also a use of daily life, but in economics we make a difference in wealth and money, similarly another important difference is money and income, now if you go in daily life, it is said that it earns a lot of money, now that is its benefit, so income, benefit and money are two different things, so it doesn't earn money, it is its benefit, so what are the differences in this, first of all we want to go to this so that we can be clear that what is money, what is money wealth, what is money currency, what is money income, so that according to this next topic we are going to be clear about money, what is the discussion on which we are discussing actually, so the first thing is that money and currency, so the definition of money that we will discuss later, and right now I want to clear that money means that generally accepted as payment for goods and services are in the repayment of debt, so you are going to buy goods and services from the market or you are going to buy goods and services from the market, so the thing that you can buy, the one that you can sell or sell, you can accept it, we will call it money, now the question is that is not such a thing currency, if you have a currency note in your pocket and you want to buy mangoes from the market, so do you not get a currency note of 1000 rupees or 100 rupees, so if the definition of money is that it purchases goods and services or it is acceptable to remove the loan and if you go to buy mangoes and if you get 1000 rupees or 100 rupees or 500 rupees in return, then we can say that this currency is money, so this means that currency is money, this also means that in economics, but the question is that is only currency is money, no, it is not like that, in fact it is like if you want to do a big transaction like what did you do, you bought a house, you bought a car, you bought a furniture then it is not necessary that you have all the cash in your pocket and you are doing a transaction with it, in fact instead of that what can you do, you can write a cheque, it is necessary to write a cheque that there should be an account in your bank and there should be a deposit in it, as much amount as you write, so this means that the cheque is also money, so the first thing is clear, currency is money, cheque is money, now the second thing is that is there any difference in wealth or money, we have clear one thing that there is no difference in money and currency or there is no difference in money and cheque that we can call it money, but the second question is that do we make a difference in wealth or money or not, so it is very clear that wealth is wealth, wealth is not called car, wealth is not money, wealth is called money, it is money, wealth is called gold, it is not money, wealth is called house, it is not money, this means that there is a difference in wealth or money, there is no difference in currency or money but wealth and money are there, the third thing is money and income, is it a thing of Amdini and money, this is also not necessary, when a person does some work, instead of that he gets Amdini income, he gets salary, he gets wage, he gets salary, he can get salary in some mode, he can get it in cheque form or deposit, whatever he is producing, like a farmer, he is hiring a labourer and he produces wheat, he can get it in wheat form, so Amdini is a different thing, now for example there are many surveys in which it is asked that how do you get your income, how do you receive it, like we do buy cash, we do buy cheque or we do it in some other mode, this means that there can be many modes of income, money is one of them, this means that money and income is not one thing, money and wealth is not one thing, money wealth is a small part, but money and currency, money and cheque is one thing, thank you.