1. { Banking in the United States

2.  Summarize the development of the US banking system  Describe the primary role of banks in the economy  Explain what the Federal Reserve is, what it does, and how it works Lesson Objectives

3.  Bank  Bank Notes  Default  Deposit  Federal Reserve System  Loan  Primary Reserves  Secondary Reserves Key Vocabulary

4.  1791–1831  1832–1864  1865–1914  1929–1933  I will read a statement aloud, and it is up to you to decide which time period the event occurred. History of Banking

5.  The first central bank, the Bank of the United States, was founded  More than 10,000 different bank notes were circulating throughout the country  A national currency was adopted with the creation of the Federal Reserve Notes  More than 1,000 banks failed, which led to a major banking crisis History of Banking

6.  Download- Assignment: Composing with Key Words  You will be using the upcoming reading for your summary of the development of the United States banking system Composing with Key Words

7.  The banking history has had a volatile history  It experienced many changes over the years from the way it’s regulated to the services and the products it offers  Through all of these changes the central function of banking has been the same and is essential to the health of our nation’s economy Composing with Key Words

8.  Download- Reading: A Brief History of US Banking  Read through the resource.  Read through the resource a second time. During the second reading, circle five key words from each section.  Copy your key words onto Student Resource 5.1. Join with a partner and share and discuss the key words that they selected for each section.  Write a multiple-paragraph summary (as described in Student Resource 5.1) that describes the development of the US banking system  You must incorporate a minimum of two key words from each section into their writing. History of Banking in the United States

9.  A key word is a word that unlocks meaning  Key words should trigger your mind into remembering important facts about your section  For example, in the section First Banks: 1791– 1832, key words may be “Alexander Hamilton” or “short-term loans.” A key word would not be “provided” or “extremely” as those words tend to not trigger any type of specific knowledge about the reading History of Banking in the United States

10.  Download- Worksheet: Perceptions about Banking  Pair up to decide if you agree or disagree with the statement  You must give two reasons for your response  Now meet up with another pair to discuss your perceptions, not whether they are right or wrong Exploring Perceptions about Banking

11.  Download- Reading: Banks and Our Economy  You will need the worksheet: perceptions about banking to complete this activity Exploring Perceptions about Banking

12.  Who is pictured on the $1 bill?  Who is pictured on the $5 bill?  Who is pictured on the $10 bill?  Who is pictured on the $20 bill? Introducing the Federal Reserve

13.  George Washington, 1st US president  Abraham Lincoln, 16th US president  Alexander Hamilton, 1st secretary of the treasury  Andrew Jackson, 7th US president Introducing the Federal Reserve

14.  Who is pictured on the $50 bill?  Who is pictured on the $100 bill?  Who is pictured on the $2 bill? Introducing the Federal Reserve

15.  Ulysses S. Grant, 18th US president  Benjamin Franklin, statesman  Thomas Jefferson, 3rd US president Introducing the Federal Reserve

16.  The secretary of the treasury is responsible for choosing whose portrait is going to be placed on each bill  The only condition is that the person must be deceased  Each year the Bureau of Engraving and Printing, which prints currency, creates billions of notes for delivery to the Federal Reserve System. Introducing the Federal Reserve

17.  What is the Federal Reserve System?  The Federal Reserve System is the central banking system of the United States. It comprises the Federal Reserve Board, the 12 Federal Reserve Banks, and the national and state member banks. Its primary purpose is to regulate the flow of money and credit in the country. Introducing the Federal Reserve

18.  What services do banks provide to their customers?  The Federal Reserve serves as a bank for banks and performs many services for financial institutions that a local bank performs for people. The Federal Reserve

19.  Download- Reading: Introduction to the Federal Reserve  This will be read individually and the following questions answered  What is the Federal Reserve?  What services does the Federal Reserve provide for financial institutions?  What services does the Federal Reserve provide for the federal government? Introduction to the Federal Reserve

20.  Based on what you know about the Federal Reserve, what would the banking industry be like without a Federal Reserve System?  The Federal Reserve Bank, as the nation’s central bank, is one of the country’s most powerful economic institutions  From protecting consumers’ financial rights to stabilizing the financial system and promoting economic growth the Federal Reserve System serves a very important purpose Introduction to the Federal Reserve

21.  Provide students with a schedule of financial shows on television or the radio  Select one show to listen to  Write a paragraph in your journal summarizing the show you listened to and your thoughts and questions about the topic of the show. Enrichment

22.  Design a new $5 note that incorporates four facts about the Federal Reserve  Designate a spokesperson and describe your newly designed currency. Enrichment

23.  Read “Here’s How the Community Reinvestment Act Led to the Housing Bubble’s Lax Spending (http://www.businessinsider.com/the-cra- debate-a-users-guide-2009-6) http://www.businessinsider.com/the-cra- debate-a-users-guide-2009-6http://www.businessinsider.com/the-cra- debate-a-users-guide-2009-6  Discuss whether or not the act was a contributing factor in the financial crisis of 2008. Enrichment

24.  Write a short biography on one of the individuals chosen by the secretary of the treasury that has been pictured on US currency  Explain why they think this particular individual is a good choice. Cross-Curricular Integration

25.  Locate the 12 Federal Reserve Banks in the country  You must include particular facts along with contact information for each of the 12 banks. Cross-Curricular Integration