1. Ch. 10, 14, 15, and 16 Test is next Thursday
ECONOMICS: April 24
Warm-up How do banks make money? Why are banks considered to be a meeting place that help to facilitate economic activity?
Learning Target #1 In order to understand the features of modern banking, I will analyze the shift of the valuing of U.S. currency based on a gold standard to the use of fiat money controlled by the Federal Reserve. I will know I have it when I can explain the advantages and disadvantages of a gold standard. Gold standard (back of HO from yesterday) --Advantages and disadvantages --Limiting it (FDR in 1933) and eliminating it (Nixon in 1971)
The Gold Standard Explained in One Minute
Learning Target #2 In order to understand how the government works to promote the economic goals of full employment, price stability, and economic growth, I will analyze the structures and responsibilities of the Fed. I will know I have it when I can explain: (1) how it is largely independent from politics; (2) why it is a decentralized central bank; (3) the role of the Board of Governors; (4) the role of the FOMC; and (5) how it interacts with banks and in the payments system.
Federal Reserve System (video guide—HO) TURN IN The Federal Reserve and You (26:02) (#12 answered after #21) -Intro; Structure of the Fed; Payments System; Supervision and Regulation; Monetary Policy; Fed’s Role Today
Assignment Read Ch. 16, Lessons 1 & 2
Ch. 10, 14, 15, and 16 Test is next Thursday