Classroom Guides >> Classroom Activities

Financial Services

This section focuses on financial services the Federal Reserve provides to depository institutions and the Treasury. Students can learn the following concepts.

• The check clearing process from the moment a check is written to the moment your account is debited.
• The life of a dollar bill -- how the Federal Reserve provides money to depository institutions and the destruction of worn currency.
• The concepts of electronic payments -- both large dollar (funds transfers) and small (ACH).

Extension Activity

• Check clearing process
  
• Life of a dollar bill
  
• Electronic payments

Each group will develop a skit which demonstrates the group’s assigned topic to the rest of the class.

Have the students brainstorm ways that electronic payments could be used to make payments and purchasing goods and services more efficient. Next, have the students to use venn diagrams to compare the advantages and disadvantages of electronic payments for the average consumer/wage earner. Teachers may decide to have students debate the topic electronic payments, use the topic for a class discussion, or have students write reports using the venn diagrams.

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