mod 8 econ 1-3

  

1. Provide an example of something used as money that is NOT currency (paper money & coins), a bank deposit, or traveler’s checks.  Explain when, where, and why this money was used.  Use the name of your item as the subject heading of your post and do NOT duplicate an answer already posted.  Also provide the source of your information so your classmates can verify it and learn more.  (If you struggle with this assignment, contact me.  I may be able to provide some additional guidance.)NOTE:  “For many purposes, but particularly in academia, Wikipedia may not be an acceptable source; indeed, some professors and teachers may reject Wikipedia-sourced material completely.”  However, I will allow Wikipedia as the primary source for this assignment.Please change the title of your response to reflect the type of money that you have discussed.  2.Background:http://www.youtube.com/watch?v=jFnH9MCdpLoHosted by radio and television news veteran Charles Osgood, this video gives an overview of the Federal Reserve System from its founding in 1913 to the technological innovations of 21st century banking. The viewer learns about the history and structure of the Fed, the role it plays in forming and implementing monetary policy, its function to supervise and regulate member banks, and the variety of financial services the Fed provides.Questions:In order to receive full credit for this discussion, you need to (1) watch the video: The Fed Today, (2) post an answer of at least 100 words to at least one of the questions below, and (3) post a substantive response of at least 50 words to a comment on this discussion board posted my another student. A substantive response is more than just saying you agree or disagree.  Explain why. Describe the main goals of the Fed today. Describe what are the main tools the Fed uses to conduct its monetary policy. Last, describe some of the main financial services that the Fed provides for the banking system.3.http://sffed-education.org/chairman/Play the monetary policy game.  If you are successful at keeping the inflation rate between 1% and 2% and the unemployment rate under 5.5%, then you should be reappointed as the Chair of the Board of Governors of the Federal Reserve System!Write down the unemployment rate and the inflation rate at the end of your game.  You will need to submit them along with your game’s outcome.  (Were you reappointed or dismissed?)You may play the game as many times as you wish, but only can submit your results once.For maximum points, play the game until you figure out how to become reappointed as Fed guru and submit those results.In order to receive full credit for this discussion, you need to (1) Play the Monetary Policy Game, (2) submit your answers to the above questions.Please change the title of your response to reflect the main idea in the sentences that you post.special instructions: please place each task in different word doc. labeled 1, 2, or 3. as listed above.Thanks.

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