Introduction
Overview
In this webquest you will explore the role of the Federal reserve in controlling the money supply and how actions of the Fed impact the nation’s economy.
The Federal Reserve System is also known as The Fed. Many people don’t realize the importance and power of the Federal Reserve. It was created to provide the nation with a safer, more flexible, and more stable monetary and financial system. The Fed plays an integral role in the United States’ government and economy. Your group’s mission is to determine our (the Fed’s) role in the government, money supply, economic growth, and central banking.
Task
Task #1 - Federal Reserve Video
1. Watch the video found at this link: www.stlouisfed.org/in-plain-english
2. As you watch complete the questions on this worksheet (https://docs.google.com/document/d/1x9UNDIPDwvwL_kv6w3ECHukw5I7lqt8Ba-r…). 3. Complete this form and share with your teacher via google sheets in order to receive credit.
Task #2 - The Banking System
Use the CNN Money 101 website to complete Banking Scavenger Hunt (https://docs.google.com/document/d/13OzXcZIzVnXWNcqE7uB7GvoFzm4gj779OsS…). Complete this form and share with your teacher via google sheets in order to receive credit.
http://time.com/money/2791949/how-to-pick-a-bank/
http://time.com/money/2791945/financial-priorities/
http://time.com/money/2791948/emergency-fund-how-much-money/
http://time.com/money/2791946/how-can-i-make-saving-easier/
Task #3 – Chairman of the Federal Reserve
The Chairman of the Fed is the head of the central banking system of the United States and one of the most important decision-makers in American economic policies:
Use the links below to find your answers. Presentations may be done in either google presentation or prezi. Feel free to use pictures, quotes, and examples within your presentation. Name this representation "Federal Reserve Chairman" and share it with your teacher via google drive.
Links for information:
http://www.federalreserve.gov/pubs/frseries/frseri.htm
http://www.federalreserve.gov/pubs/frseries/frseri3.htm
http://www.federalreserve.gov/pubs/frseries/frseri4.htm
- How does the Chairman become appointed?
- What is his term of office?
- What are his responsibilities?
- Who is Ben Bernanke? Why is he important?
- How important is the position of Chairman of the Federal Reserve?
Task #4 – Federal Open Markets Committee (FOMC)
The FOMC is charged with overseeing open market operations in the United States, and is the principal tool of US national monetary policy. Use the links provided to find the information below: Use the links below to find your answers. Presentations should be done in either google presentation or prezi. Feel free to use pictures, quotes, and examples to answer within your presentation. Save this presentation as FOMC and share it with your teacher via google drive to receive credit. Links for information:
http://www.federalreserve.gov/policy.htm
http://www.federalreserve.gov/fomc/
http://www.federalreserve.gov/pubs/frseries/frseri2.htmhttp://www.econedlink.org/lessons/index.php?lid=1122&type=student
- Who sits on the FOMC?
- What is the importance of the FOMC?
- How do they influence the monetary policy?
- What are the three tools for controlling the money supply?
- Which tool is used the most?
- What is the goal of the FOMC?
- How does the FOMC impact the economy?
Process
You may work in groups of two to three students
You will produce a product for all FOUR tasks set before you about various aspects of the Federal Reserve and Banking.
Task #1 - google sheet
Task #2 - google sheet
Task #3 - google slides
Task #4 - google slides
You will have a specific due date for each task.
Evaluation
You will be evaluated on:
Task #1 (25 points) - formative
Task #2 (25 points) - formative
Task #3 (25 points) - formative
Task #4 (25 points) - formative
Overall Project Grade (100 point total) - summative