Myths, tall tales, and urban legends: A lesson on the facts behind the Fed
Description Return to Resource List
- Title
- Myths, tall tales, and urban legends: A lesson on the facts behind the Fed
- Reserve Bank
- Atlanta
Summary
Myth or reality: The Fed has constitutional authority. Reality! The constitutionality of central banking was established through a U.S. Supreme Court precedent. The case, McCulloch v. Maryland, 17 U.S. 316 (1819) was a landmark decision by the U.S. Supreme Court. This active-learning lesson introduces students to common myths about the Federal Reserve and the reality behind the misconceptions. Students will evaluate statements about the Federal Reserve, using primary sources and each other to determine whether they are true or false. They circulate and survey one another in the process to pair myths and realities.
Additional Information
| Types |
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Lesson Plans |
| Topic |
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Central Banking History Macroeconomics Monetary Policy The Federal Reserve System |
| Target Audience |
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Teachers |
| Grade Level |
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9-12 |
| Keywords |
| open market operations, monetary policy, bank, panics, board of governors, member banks, primary sources, gold, Federal Reserve Act, 1913, U.S. Congress, , precedent, central bank, McCulloch, Maryland, 1819, national banking act, 1935, federal open market committee, fomc, inflation, money, myth, reality, Jekyll Island, misconceptions, structure, functions, Federal Reserve System, fiat money, interactive, lesson, Supreme Court, unconstitutional, capital stock, Woodrow Wilson, whiteboard lesson |
| Education Standards |
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