Let π be a field.
The algebra π[π‘,π‘β1] of Laurent polynomials in indeterminate π‘ is a β€-graded commutative [[K-monoid|π-ring]], with elements of the form
π=βπββ€πππ‘π
such that ππ has finite support,
with multiplication given by π‘πβ π‘π=π‘π+π.
It is isomorphic to the group algebraπ[β€].