Federal Reserve Bank Of Atlanta
Federal Reserve Bank Of Atlanta
A visit to the Federal Reserve Bank of Atlanta proves to us, and hopefully to our audience, that a simple interest in math and technology can lead to a wide variety of career opportunities. Although we take a fun and loose approach to learning about the Federal Reserve, our Teachable Moments are truly insightful. They include a description of what this institution is and does and a discussion of the gold standard and exactly what gives money its value.
Define exchange rate as the price of one nation's currency in terms of another nation's currency.
Interpret changes in exchange rates, in regards to appreciation and depreciation of currency.
Explain why some groups benefit and others lose when exchange rates change.
Explain the roles/functions of money as a medium of exchange, store of value, and unit of account/standard of value.
Describe the organization of the Federal Reserve System (12 Districts, Federal Open Market Committee (FOMC), and Board of Governors).
Define monetary policy.
Define the tools of monetary policy including reserve requirement, discount rate, open market operations, and interest on reserves.
Describe how the Federal Reserve uses the tools of monetary policy to promote its dual mandate of price stability and full employment, and how those affect economic growth.
1. BRIEF EXERCISE -- divide notecards into quarter pieces and put a $ symbol on each. Distribute randomly amongst all students. Announce that you will auction off some candy and allow students to bid, noting how much students paid for each piece. Then, distribute twice as much money note card money as before and repeat the auction. Discuss with students the difference in prices paid and why the Federal Reserve controls the amount of money in circulation--to control inflation (increasing prices)
2. Why won't some people or businesses accept a ripped piece of money? What is the connection between this situation and why the Federal Reserve shreds money?
Currency: the money that a country uses
Finance: the way in which money is used and handled
Circulation: the act of passing money from person to person or place to place
Central Bank: a bank that does business with other banks and with the government and that controls a country's money supply and interest rates
Treasury: the government department that is in charge of handling a country's money
Gold Standard: a system in which a unit of money (such as the dollar) is equal to a particular amount of gold
IT: (information technology) application of computers to store, study, retrieve, transmit, and manipulate data, or information
Public Affairs: the activity or job of providing information about a particular person or organization to the public so that people will regard that person or organization in a favorable way
Regulation: an official rule or law that says how something should be done
Wells Fargo, Jean Tate, Amy Hennessey, City of Atlanta
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