Monetary theory (known also as money/macro theory) is a major branch of macroeconomics an a framework of analysis that deals with monetary systems and their effect on equilibrium with production, employment and the level of prices within a macroeconomy. In its own definition, it deals with the difference between "broad money", typically non-circulating currency such as deposit certificates and treasury bills and "shallow money" that circulates amongst the population of an economy. Within monetary theory, the problems and benefits between these monies are compared using "spending" and "goods-against-goods" (Say's Law) approaches, each of which stipulate the socio-economic repercussions when one approach dominates the market over the other in varying degrees.