Fiscal & Monetary Policy
Define fiscal and monetary policy and highlight their differences.
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Lessons & Activities
1 Hour+
Take a Seat at the Table: FOMC Simulation
OVERVIEW
In this lesson, students are given the opportunity to play the role of a Federal Reserve Bank president in two aspects of a Federal Open Market Committee (FOMC) meeting: the policy discussion and federal funds target rate recommendation. Students will see how the FOMC uses the anecdotal information contained in the Beige Book to inform policy decisions. They will read and evaluate the anecdotal information contained in the Beige Book, then conduct a policy discussion and write a press release explaining their assessment of economic conditions and the policy action agreed upon during the simulation.
Related Resources
INFOGRAPHICS & COMICS
VIDEO Q&A
0-15 MIN
Alexander Hamilton & Central Banking
Learn about Alexander Hamilton's impact on the United States and central banking.
MODULES
31-45 MIN
Making Sense of the Federal Reserve
Introduce the structure of the Federal Reserve and the basics of monetary policy.
READING Q&A
16-30 MIN
Jargon Alert: Helicopter Money
Learn about a tool to stimulate economies and fight deflationary pressures.
LESSONS & ACTIVITIES
46-60 MIN
Lecture Guide: How the Federal Reserve Implements Monetary Policy
This lesson teaches how the Federal Open Market Committee (FOMC) conducts monetary policy.
CURRICULUM UNITS
Teaching the New Tools of Monetary Policy
Resources for teaching the Fed's monetary policy tools in an ample-reserves framework.
