1. Economics Learning Steps 9/9/14

2. Complete SSEMA1 Unemployment Post. Quiz & SSEMA2 Fiscal Policy Pre. Quiz

3. Standards & Elements SSEMA2 The student will explain the role and functions of the Federal Reserve System. Elements: a. Describe the organization of the Federal Reserve System. b. Define monetary policy. c. Describe how the Federal Reserve uses the tools of monetary policy to promote price stability, full employment, and economic growth. SSEMA3 The student will explain how the government uses fiscal policy to promote price stability, full employment, and economic growth. Elements: a. Define fiscal policy. b. Explain the government’s taxing and spending decisions.

4. Enduring Understandings The student will understand that Federal Government budgetary policy influence the overall levels of employment, output and prices.

5. Essential Questions 1. What is fiscal policy and how does it affect the economy? Ch. 15 Sec.1 2. How is the federal budget related to fiscal policy? 3. How do expansionary and Contractionary fiscal policies affect the economy? 4. What are the limits of fiscal policy? 5. How does the Federal Reserve serve the federal government? Ch.16 Sec. 2 6. How does the Federal Reserve serve banks? 7. How does the Federal Reserve regulate the banking system? 8. What role does the Federal Reserve play in regulating the nation’s money supply? 9. How does monetary policy work? Ch.16 Sec. 4 10. What problems exist involving monetary policy timing and lags? 11. How can predictions about the length of a business cycle affect monetary policy? 12. What are the expansionary and contractionary tools of fiscal and monetary policy?

6. Individual Study “View & Find” Expansionary and Concretionary Fiscal Policies Examples Using President Obama’s 1 st State of the Union Address “Share It All” Ticket-Out-The Door Class Activities