Resources for Teaching High School Economics Courses - Classroom ECONnections from the Fed, Episode 1

ECONnections with the Fed icon

In this session of the Classroom ECONnections from the Fed webinar series, presenters from the Federal Reserve Banks of Atlanta, Dallas, Philadelphia, and St. Louis introduce FederalReserveEducation.org and feature resources that can be used to teach high school economics classes. These resources include online courses from the Econ Lowdown learning portal hosted by the St. Louis Fed, the Atlanta Fed's The Fed Explained video series, 4 books from the Dallas Fed's Everyday Economics series, and the Philly Fed's The Federal Reserve and You video program.

Transcript:

Mike Vander Velde: Good afternoon. And welcome to today's classroom ECONnections webinar, which will focus on new economic education resources to engage your students. I'm Mike Vander Velde with the St. Louis Fed and I'll be your facilitator. Join me on Slide Number 2 and I'm going to cover some of the call logistics. If you haven't done so yet, go ahead and click on the webinar link that you received after registering. The option of the webinar does offer a few benefits. You can watch the slides as they are advanced for you. You can type a question to us. You can also participate in polling questions. And we have a few of those today and that's pretty fun. You can also download the session materials through that materials button or you can even choose to listen to the audio through your PC speakers. And I would like to note that your webinar performance does depend on your connection. So if at any time you're having problems there just pick up the phone and dial that toll free number right there on the screen.

Also, you can click that little Enlarge button on the top right corner of the slides to maximize your slide view if necessary.

As for questions, you can submit them at any time by clicking that Ask Question button in the lower left hand corner of the webinar tool. And we are going to pause throughout the presentation to take those questions. So by all means, please submit them whenever you're thinking of it.

All right. Now then, let me welcome our first presenter, and that is Assistant Vice President and Economic Education Officer at the Federal Reserve Bank of St. Louis, Mary Suiter. Mary, take it away.

Mary Suiter: Thanks, Mike. So I am Mary Suiter. I am with the Federal Reserve Bank of St. Louis and our goal today is to introduce you to some materials that you can use to teach an economics course. And these are materials from the Federal Reserve. If we could move, go ahead to Slide 4, please.

We're going to start with the federalreserveeducation.org website. So if you visit that website, from there you can see a map of the United States and the Federal Reserve districts on that map. In this case, the St. Louis Fed is the Eighth District of the Federal Reserve System and so I would have you click here because I'm going to talk a little bit about resources from the Federal Reserve Banks of St. Louis that are available on federalreserveeducation.org. So if we could move to Slide 5.

Once you've clicked on that 8, that little area at the bottom comes up and it says Education Resource Website. And that's the education resource website for the St. Louis Fed. And so if you click there and we can move on to Slide 6.

And what you'll find there is the St. Louis Fed's education page, which we also call Econ Lowdown. And you'll see there on the left that there are two apples there. One is a red apple. That's the apple for teachers. And the green apple is for students. So if you register your students, if you enroll a class of students on our website and you want them to log in, they would go to the green apple. But for us to set up an account you would go to the red apple. So you'd click there and we can move on to Slide 7.

And once you've clicked on that red apple you come to an instructor management panel page for Econ Lowdown. And this allows you, if you've already registered as an instructor, to log in. Or if you haven't registered as an instructor, to register as an instructor.

Move to Slide 8.

You'll see there on that initial instructor management panel page that there are features available in our online program. One is a discussion board feature that you'll be able to use. So for any course that you register your students for, there's a discussion board feature with the discussion board questions that you can use with your students. There's also the opportunity to push out polling questions. So you can enter a polling question to see where your students are or how they're doing with a particular topic in a course. And they'll see that immediately and respond to you, and you'll see the results.

And then we also have a portal there for assessments so that you can upload pre- and posttest scores from the courses to your grade book. And we can move to Slide 9. OK, so once you've logged on and you're ready to enroll students you come to this page and you'll see that there is a little ribbon across the top that says My Classrooms, Courses, Video Q&A, and Professional Development. And I'm going to focus first on establishing a classroom. So how do you enroll students in our online modules? You'll be able to enroll your students. You'll be able to track their progress. You'll be able to access pre- and posttest scores, read the discussion board content that I mentioned earlier. And as I mentioned earlier, send polling questions. So if you'll move to Slide 10.

From this page you're able to establish a classroom. So you give your classroom or your class a title or a name. And then you're able to enter the start or begin date for your class and the end date for your class. We can move to Slide 11.

OK, and so I've done that. I've established a class and the title is September 15thWebinar. And you'll see that there's a little green checkmark by the first of those three items on your right. I've established the class. And I'm now ready to add students to my class. So we can click to Slide 12, please.

And now I'm ready to add students to my class. And I can add student names. So here you'll see I've added a student name, Corey Inflation. Or you can allow the system to name the students A, B, C and so forth. And the system will assign each student a code and a password, a student code and a student password. And you have the option then to email those students their passwords and IDs or print out a sheet of paper with login information and a password and ID and any kind of special note you might want to send or provide for that student. You can move to Slide 13.

OK, so here then I've now established a classroom and enrolled students. And I'm now ready to add courses or videos to the classroom. So now I'm actually assigning some online courses to my class. And you'll see that there's a list of possible classes there that I can assign to my students. If you'll click the next slide, please.

And here is a list of some of the courses for economics that are available. And you'll see that we have courses on challenging topics, like Comparative Advantage, Time Value of Money, Monetary Policy. We have GDP and Pizza, Supply and Demand. And then coming soon we have a course on Economic Growth. We have one on Aggregate Supply and Demand and one on Government Budgets. And you can click to Slide 15, if you would, please.

And the online courses, once you enroll your students they log into the course using their ID and password, and they're able to pretest. They read through content. There are interactives there for them to practice with the content. There are tests for understanding along the way and they get immediate feedback on those tests for understanding. So if they answer incorrectly they get information indicating that they've done so and what the correct information is. And if they've answered correctly they also receive information saying that they have done so. There's practice with graphs and charts. So if you are interested in Common Core, reading for information and using data and charts is a possibility with these.

And then your students take a posttest. And, again, you're able to upload pre- and posttests data from our website to your grade book. And then all of our courses, all of our online courses are aligned with national standards. Those could be standards in economics, personal finance, history, Common Core standards, depending on the topic of the course. You can click to Slide 16.

These are a couple of screenshots from one of our courses on Supply and Demand. And you'll notice that within the course there's a video. So there's a little video on the law of demand. And then the second image on the right includes the graph of demand and your students can practice moving along the demand curve or shifting the demand curve throughout the course. So there's opportunities for them to actually practice with the graphs. And you can move to Slide 17.

In terms of where these courses are used, teachers are using them in class. They're using them in computer labs. They're using them if they've got tablets or bring-your-own devices, they're using them there. Sometimes they assign them as homework and use them for flip classrooms. And they might reuse them as a review. So for students' review before an exam or if they've missed a class, your students missed a class on a particular topic, they might use that course then to make up that missed work.

And, again, you'll see here that the Comparative Advantage course, which features Jack and Andy, a superhero and his sidekick, includes texts again, information that your students read, but there are also other features in the courses. So I have a screenshot from our Monetary Policy course, which includes the equation of exchange. And students actually move MV and PQ within the course based on different scenarios that are provided. If you'd move to Slide 18, please.

Some of our courses are longer and we've had feedback from teachers that they are longer than they would like. And so we have begun to break them into shorter courses. So our Time Value of Money course, for example, we have broken into shorter courses like Opportunity Costs, Interest Rate, Inflation, Present Value, Future Value. We've also broken our unemployment course, the Story of Unemployment, into shorter segments: Measuring Unemployment, Types of Unemployment, The Consequences of Unemployment and The Federal Reserve and Unemployment. If you'll move to Slide 19.

So as a teacher, this is a page that you would see from the instructor management panel. I've now registered students into a class. I've assigned them courses. And now I can look at their progress in that course. So this is the GDP and Pizza course, and I can look down the list of students here and see what their progress is. I have some students who have completed. I have some students who are midway or about a third way through the course. And I have some who haven't started. I have pretest scores for those who have taken the pretest, and for those who have finished I have posttest scores. So I'm able to get that information all along the way but also, as I've mentioned, pull that information into a CSV file and upload it to your grade book. If you'd move to Slide 20, please.

I thought it might be interesting for you to see some of the comments that teachers who are using these online courses and videos have to say, what they have to say about the use of the materials in their classrooms and the success their students are having with these materials. So I won't read those to you, but they're very positive and this is just a sampling of some of the feedback that we get regarding the courses. You can move to Slide 21.

OK. Do you want to do your polling?

Mike Vander Velde: Sure.

Mary Suiter: So we have a polling question, I think, Mike?

Mike Vander Velde: Yeah, so let's do that now. So grab your mouse and take a look at your screen in the webinar tool. And, again, if you haven't joined us on the webinar, now is the perfect time to do so. The link was inside of that invite that was sent to you earlier. So let me read that for those that may not be in the webinar tool right now. It says, "Which of the following is the Federal Reserve Economic Education website?" Is it the first answer, it's FederalReserve.gov? The second is FederalReserve.org. FederalReserveeducation.org or FRSFRE.edu? So let me just give you a few moments and let's see if you are able to get the right answer here. I'm going to stall for just a couple more seconds. Just go ahead and click on the answer. And that's probably good. Let me stop that. And I'm going to show those results to you now. That may just take a moment here to update.

All right, so it looks like we have our answer. Any thoughts on that?

Mary Suiter: Well, that's great. I'm glad that everyone remembered, or pretty many people remembered, that it's federalreserveeducation.org. And from that website you can access materials from all 12 Federal Reserve banks. And so that's great. We're glad that's a piece of information you remember from the discussion.

Mike Vander Velde: All right, perfect. And as you're also seeing on that slide, it's a perfect time to ask questions. And to do so you just click that Ask Question button in the webinar tool and we will read that question aloud. And we did get a question in and that question was asking about the link. So we had missed that question, but it looks like the poll was able to answer that question for us. So that was great.

Again, just a quick reminder, click that button to submit a question, and if there is one we'll go ahead and ask it. All right. Let me just do a quick check here and see if we have any others. And it does not look like we do, so I think you can move on.

Mary Suiter: OK, so I'm going to turn this over to Amy Hennessy from the Federal Reserve Bank of Atlanta so she can talk about resources available from the Federal Reserve Bank of Atlanta, available on federalreserveeducation.org.

Amy Hennessy: Thanks, Mary. And good afternoon to everyone. I'm very excited today to be sharing some of our resources from the Atlanta Fed. Mike, if you'll advance to the next slide, I'd appreciate it.

So I'd like to share with you a resource that is available. One way you can access this resource is to go to our website at FRBAtlanta.org. You will see there in our ribbon along the top an arrow pointing to a tab that says About the Fed. And when you click that in the drop-down you will see what I have highlighted there, The Fed Explained. And, Mike, if you would advance, please.

The Fed Explained is a series of animated videos. These are short videos. They average between three to five minutes. And these videos are featuring information about the Federal Reserve, our structure, our functions, and some basic economic concepts. You see there on this screen the Supervision and Regulation video in the Functions series. If you would advance, please, to Slide 25.

Here are other topics that we have covered in the animated series. While we've designed these for use by the general public, teachers are more than welcome to embed these in slide presentations you have, to share these as you do large group presentations with your students. We've had a number of teachers ask if these are available to, if a link to these would be available for say a classroom management tool they may have like a blackboard, etc. And by all means, we encourage you to utilize these. You'll see that these, Topics 1 is missing in terms of our Functions and that is the Monetary Policy topic. And we are working on that. That should go live very soon. Mike, if you'd advance, please.

In addition to the video series we have created an infographic that features some of the videos. It's a Fed Explained: It's infographic and you can see there on the main landing page a link under Related Links to access that infographic. Please go to the next slide.

And here you see some screenshots of the top of the, kind of above-the-fold portion of this infographic. If you do a rollover with your mouse you will see a light box highlighted. And that indicates that there is a video there. So you click that box and it will pop up with a video. This one on the left features the Central Bank video. And then on the right under The Federal Open Market Committee we have a link to the Chicago Fed's infographic on the Federal Open Market Committee. Please advance.

Here is the below-the-fold portion of the infographic. And, again, as I've indicated, we have two of the three functions highlighted with the video, the Monetary Policy one is to come. And then under The Dual Mandate we have featured our Unemployment video that talks about the labor force and how to calculate unemployment rate, etc. And then the Price Stability part of our mandate we have the video that features... explaining the difference between inflation and changes in the cost-of-living price increases. Please advance.

In addition to the infographic, we have created some question and [answer] activities that you can utilize with your students. They would have to use the infographic to answer many of the questions. And then there are some additional questions with URL, links to URLs that will take them to do a deeper dive. I will say that we just made available an order form. We have also got a full poster-sized version of the infographic available. And that order form will go live very soon, within the next couple of days on our site. So you can place an order to get a classroom poster. And we encourage you to do so. Please advance.

So Mary has featured the Econ Lowdown instructor management panel and some of the online courses, many of the online courses that they have created. And I actually believe, from the perspective of the classroom teacher, that a teacher-friendly, classroom-ready way to utilize the Fed Explained videos is to use it through the Econ Lowdown tool. You will see highlighted in red up at the top, the Video Q&A portion. Just like you can create your classrooms and add students and add online courses, you can also choose to select from that list of videos there and assign various videos to your students. This screenshot you're seeing here is your teacher grade book. And you will be able to preview the video. And when you preview the video you will see the quiz function that we have added in this Video Q&A. And so the students would be assigned video. And then there are 10 multiple-choice questions that are based on the content featured in the video that they can take. And all of that, their scores and how many times they've attempted, etc., will feed into your instructor management grade book.

And you can choose to add all of the videos in a video series to the classroom or you can choose to add them individually. Another nice feature there is that you see how they are aligned to the national standards, and then you can view that link there, Additional Resources, with many other resources that are available throughout the system to teach the concept. Please advance.

Here is a screenshot of the grade book. And I have found increasingly teachers are telling us that they are being expected to use data, obviously, to make informed decisions about differentiating instruction. And so as you see here, this provides an excellent way to understand, to kind of assess your students' knowledge prior to the introduction of the unit. If a student, like Student AE cannot watch the video and take the quiz and score 100, then they probably need to be given some enrichment assignment and move forward while others, Student AA who didn't watch it and scored a 40, needs additional instruction. So this is a nice feature and teachers are saying that they are utilizing it in this way.

I like the fact that you see how many times they've viewed. You see how many times they've taken the quiz. And it always is going to populate their highest score. And notice that you can export this as a CSV file.

And so I'd just encourage you again to consider utilizing the videos via the Video Q&A function in Econ Lowdown. And these videos are a perfect way to introduce a topic and to review. I would then say you can take a deeper dive by assigning your students the online courses that cover the topics in question. At this point I believe we're going to do another polling question. Michael?

Mike Vander Velde: All right, very good. So, again, grab your mouse and take a look at the screen. I'm going to go ahead and pose that question now. And I'll read it out loud as well. It says, "Which of the following are classroom-ready resources available to teachers who wish to use the Fed Explained series?" And those possible answers are: Videos found at www.FRBAtlanta.org, Video Q&A tool through Econ Lowdown instructor management panel, Infographic with videos and accompanying activity sheet, or D) All of the above. So go ahead and select your answer there. And I'll just give you a couple of moments to do that. And, again, while you're selecting your answer you can always submit a question to us. And to do that, just click that Ask Question button in the lower left hand corner of the webinar tool and type one in there. So with that said, that should be enough pause time. And let me go ahead and stop that pool and share the results. So it will take just a moment to pop up here. And when it does we will see. Wow, look at that, 93 percent say all of the above. Amy, any thoughts on that?

Amy Hennessy: Oh, that's, you know, they tell you never to do an All of the Above. But I'm thrilled that everybody is aware that these are all options for you to utilize this resource with your students. And thank you. And I'm happy to answer any other questions. Otherwise, at this point if there are none, we'll move it along to Princeton Williams, my colleague in Dallas.

Mike Vander Velde: So, Amy, we do have one quick question here. Let me sneak this one in here.

Amy Hennessy: Sure.

Mike Vander Velde: It says, "Do you have to be a classroom teacher or can museum educators use this in the same way?"

Amy Hennessy: Absolutely. Yes, absolutely. We encourage anybody who is doing instruction at any different level and different organizations and so forth to use the Econ Lowdown resource. I'm sure Mary would agree as well.

Mary Suiter:Right. The Econ Lowdown and really any of the Fed resources that you learn about today.

Mike Vander Velde: All right, very good. Another question just came in. It says, "Please restate where on the website does it say how to enroll a class on the video feature."

Amy Hennessy: So Mary's slides, which I believe you can click on the materials button to download this presentation in a PDF format, but Mary's slides went over how you register as an instructor. And once you've registered you will actually see a top ribbon that says My Classrooms and then Courses and then Video Q&A. So when you're actually uploading your course and naming your course and everything, that is, once you're in that function you would be able to select from courses that you want to assign your students, as well as videos in the Video Q&A section. And Mary may want to add something.

Mary Suiter:That's great. Thanks, Amy.

Mike Vander Velde: All right, very good.

Amy Hennessy: Sure thing.

Mike Vander Velde: All right, so let me just do a quick refresh here and see if any other questions came in. It does not look like they did. So, again, at any time just click that Ask Question button and type one in there. But for now we are ready to move on to Princeton's section.

Princeton Williams: Very good. Well, this is Princeton Williams from the Federal Reserve Bank of Dallas. I'm happy to be with you all today. So if you could go to the next slide.

I'm going to be previewing four publications that we have here in Dallas. They're all part of the Everyday Economics Series. So you can find these resources on our website. You go to DallasFed.org/educate and look on the left hand side. Classroom Resources is a dropdown menu. And then underneath there, as you can see, marked in red, Everyday Economics is one of the choices. You can move to Slide 35.

And once you're on that page you'll see the four publications that we're going to preview today, Entrepreneurs, Globalization, International Trade and Money. These are all available as PDFs, of course, on the website, but they are also available as a classroom set of hard copies. If you click on the order form in that same Classroom Resources menu then you can place your name and address and we will ship a classroom set of those publications directly to you at your school, or at your museum, as we heard a few moments ago. We do ask that you order these as a classroom set, but we are happy to replace those when they become too worn, torn, dirty. You don't even have to ship them back for us to shred. We're just happy for you to order some new copies. So we can move to Slide 36.

So the first book that I want to preview today is International Trade. You can see the section titles here. This is an economics view of trade, though I've found that the geography teachers really value this. It explains why people trade. It uses an economic definition of absolute and comparative advantage. It explores the reasons that some people advocate for protectionist measures, but then examines the consequences of those protectionist measures. And looks at various organizations such as the WTO, as well as regional efforts such as NAFTA to spread free trade around the world.

All of these books have a center spread on a particular economic concept. And, of course, on this one it is on specialization and trade. So we could move to the next slide.

So all of these books have colorful features. We have a talented design staff that has worked on these. So this was a sidebar on opportunity costs. Then if we can click to the next slide.

A sidebar that talks about the factors of production and how using those efficiently is the basis for specialization and trade. And then on Slide 39. This is actually a graphic from the middle section from that center spread that I was speaking of on specialization and trade. And it works out the mathematical case for specialization and comparative advantage.

And then finally on Slide 40. The designers here, if you visited your local Federal Reserve bank, you probably saw bollards throughout one of the vehicular entrances to the bank. And so our designer here automatically thought of bollards coming up out of the past as a way to block the free trade that was coming down the hill. And so those four types of barriers are all explained and illustrated there on the barriers.

All right, we can move to the next slide. And with that, the next publication is on globalization. We take a more historical view here. We look at the 19th century as a time when communication and transportation brought the world together and integrated markets in new ways. And how that sort of integration reappeared in the 20th century. And then we look at it from a more economics point of view, where we examine the globalization, the fact that globalization really includes trade in goods and services, the flow of financial capital and the movement of people. And we look at how those trends are emerging and if there is any events on the horizon that might cause those trends to reverse. We can move to the next slide.

One of the features of this book is the timeline with all the different technological innovations that have driven the process of integration and globalization. And then on Slide 43.

We look at the Boeing 787 as an illustration that trade is not just about moving finished goods around the world, but it's a global sourcing for production so that you can see the parts of that airplane that you're flying in are literally globally sourced and all brought together in Washington state to be assembled at the Boeing factory. And then the next slide.

So we tried to find companies that kids would be familiar with, so we picked two sports companies, Adidas and Nike, and two car companies, Ford and Honda. And you might know that those are American, European or Japanese companies. But these are truly global companies with a footprint all over the world. We can move to the next slide.

We look at the way money moves around the world through commercial loans, official currency flows, foreign direct investment and foreign portfolio investment and the way it affects and impacts economies around the world. And then finally on the next slide.

On that center spread for Globalization, we look at foreign currency exchange. And so we look at the impact on purchasing power for an American that is visiting Paris or a European that is visiting New York City, and how that changing exchange rate affects their purchasing power in those tourist destinations.

OK, on Slide 47. The last page in each one of these books is actually an overview of prominent economists that have contributed to the academic literature on these topics. So for Globalization, we talk about Dhangwadi, Stiglitz, Obstfeld and Rogoff, Williamson and O'Rourke. These are academics, economists that have written extensively. Other publications have Nobel laureates. These are people who have undergirded the discipline that students read about in their principal textbooks. This is the foundation. And we wanted kids to know that there are people studying this actively in the field today.

So we can move to the next slide.

The third publication is Entrepreneurs. We look at, once again, an economic view of entrepreneurs, what is it? We take the definition that an entrepreneur is an organizer of productive resources that takes that product to market. We talk about the role of the marketplace and the role of profit and loss, and talk about ways that society can support entrepreneurs, as well as the impact of globalization. And then we're going to have a center spread once again that looks at innovation, productivity and growth.

So then on the next slide.

Entrepreneurs in all of the articles that you read and when you talk to students, entrepreneurs is often a personality-driven event. It's a personality-driven concept. And so we wanted to honor that with giving kids some examples of entrepreneurs in various fields. So you see some that are familiar – Steve Jobs and, oh, that other guy that worked at Microsoft, Bill Gates. But then you have some that might not be as familiar, so, Tyler Perry, who turned an acting career into founding a production company. Down in the middle of the bottom you have Julie Clark, the founder of The Baby Einstein Co., that made videos in her basement with rented equipment. You have the Bill Bowerman and Phil Knight, the coach and his student who founded Nike. And you have in the top right, Linda Alvarado, a construction company owner who is one of the leading Hispanic entrepreneurs in Denver. And there's also an owner of the Colorado Rockies baseball team.

So you can move to the next slide.

We talk about how society needs to protect the rights of entrepreneurs. So we discuss copyrights and trademarks, patents, as ways to protect the investment and the ideas that an entrepreneur is taking to market.

And then on the next slide.

We talk about the various forms of business that are part of the legal institutional environment that is created that entrepreneurs act within. And then finally on the last slide.

The last slide for this is a graph of how, as entrepreneurs bring new businesses, it transforms the economy and transforms the places where all of us live and work. So then on Slide 53 we'll see the final publication that I'm going to highlight today. And that is our publication on money. We look at money and what would the world be without money, and look at the concept of barter. We talk about the characteristics and the functions of money. We talk about types of money. And then the U.S. experience. And, of course, the center spread is on that important monetary concept of inflation.

So the next slide.

Once again, our graphic artist had a great time with this one. She illustrated everything from a piece of U.S. currency to a cow to George Washington that you're going to see here in a few minutes. These are three illustrations of the different types of money: commodity money in the top left, I mean, in the bottom left, representative money in the top left, and then fiat money on the right.

And then the next slide.

We also have, she illustrated all of the characteristics that make a good quality form of money. So we have the acceptability and a divisibility and so forth.

Then on the next slide.

One of the features of this book is the timeline of U.S. currency. So we have a number of pieces of real U.S. currency that are shown in the book. And we look at how currency has changed over time and how it's developed. It's a way to examine the U.S. currency system.

On the next slide we can see that we even look at the very newest bills, the newest $50 and $100 and the security features that are featured on those two notes.

Then the next slide.

On this next slide we want to make sure everyone knows who prints the money. That that is a job for the Bureau of Engraving and Imprinting. And then who makes the coins: That is down the street from Andrew, who you will hear next, at the Philadelphia Mint, along with the mint in Denver. So the coins and the money don't come from the Fed; they come from two divisions of the Department of Treasury.

On the next slide, we even waded into the thorny topic of giving teachers an illustration of multiple deposit expansion and tried to give one more resource for that challenging topic in many economic classes.

In the next slide, on Slide 60. For the center spread on money we show our hundred trillion dollar note from Zimbabwe. And we have George looking with surprise at the number of zeros that are on that note. And part of our discussion of inflation is how inflation is measured. So we talk about the CPI shopping list, all the different categories of goods and services that go into the market basket that is used to compute the CPI.

And then the next slide. Once again, all these resources are available at dallasfed.org/educate. You can order hard copies or preview the PDFs online. Thank you very much. And I'd be happy to take your questions.

Mike Vander Velde: All right, very good. So we do have a couple of questions in there. And while I am reading those go ahead and submit a new one to us by clicking that Ask Question button in the lower left hand corner.

So this first question is general for our session today. It says, "Will the presentation be available online after the end to share with others?"

Princeton Williams: Yes. Mary, it's going to be on federalreserveeducation.org, correct?

Mary Suiter:Right. We'll be archiving the presentation on federalreserveeducation.org. It may be archived on each of our banks' as well. We don't know that yet, but our plan is to archive it on federalreserveeducation.org.

Mike Vander Velde: Very good. Thank you for that question. The next question is in reference to those books you were talking about. And it's asking, "What grade level are they?"

Princeton Williams: They are designed for 9 through 12, but with appropriate scaffolding I could see them being used in a middle school environment. But they are targeted for 9th through 12th graders.

Mike Vander Velde: All right, very good. So let me do a quick refresh here. And I'm not seeing any new questions at this time. So I think we can move on to Andrew's segment.

Andrew Hill: Thank you very much. Today I'm going to talk about The Federal Reserve and You, which is a video resource, video-based resource that covers the purposes and functions of the Fed, money and banking. It's a great resource for use in the high school classroom or the college classroom. Let's go to the next slide.

So we released this film in the spring of 2013. We're right now engaged in filming updates. It was designed as a segmented video production so that you can make use of the various segments, there are 71 total segments in the production, in different ways in different classes. It's available on DVD as well as streaming through YouTube. And I'll show you later on in my part of this presentation how to order the DVD, as well as how to get access to the streaming videos online. And as I mentioned, the segmented design allows integration into different classes in different ways.

Let's go to the next slide.

So one of the things we wanted to do in this production, one of the things we've done is we've learned a lot from previous productions at the Fed. We really wanted to have on-screen narrators that would appeal to students in high school and college. And so we have two great on-screen twenty-something hosts who narrate a large portion of the production.

We also wanted to rely heavily on Fed officials to tell the story. So we have a lot of interview footage from folks, including Chairman Bernanke, but then other Fed officials from across the System. We have a lot of animations that help to relay and explain the challenging economics content. And then we also have eight dramatic vignettes that are set either in the current period or historically in order to get across those economic concepts and historical events as well to the viewer.

You can go to the next slide.

So the production is divided into actually eight chapters. Chapter 1 replaces The Fed Today video. So if you remember, The Fed Today video that was the preceding Fed product from this one, they cover the purposes and functions of the Fed. Really Chapter 1 was designed as the overview segment. So it has six segments that you see listed there. And it covers the three major functions of the Fed, as well as the Fed structure. And, again, it's a nice substitute for The Fed Today if you've used that in the past.

Mike, you know, I forgot we have a polling question that we could launch to ask folks that are on the call what Fed products they've used in the past. So let's launch that.

Mike Vander Velde: All right. Sounds good. Yeah, I was going to try to sneak that in the end, but now's a great time. So let's do that. Grab your mouse and look right there on the screen. It just popped up now. It says, "Which of the following video products from the Federal Reserve have you used in your classroom?" And a few options there. One says, The Fed Today. The next says, Eye of the Storm. The Federal Reserve and You, In Plain English, or Katrina's Classroom. So if you've used more than one of those, that's great, but you're only allowed to swipe one through this webinar tool right now. But please go ahead and make a selection there. And, again, while I'm doing that I'll let folks know that you can submit a question by clicking that Ask Question button in the lower left hand corner of the webinar. And, you know what, let me actually get to a question while I'm giving people an opportunity to respond there. That question asked about the cost of the Dallas books. Is there a cost associated with that and how much are those?

Princeton Williams: Those are free of charge to educators.

Mike Vander Velde: Perfect. We like free. That's good. All right, so let me go ahead and stop that poll, and let's take a look at the results here. And those should pop up. And look at that, a nice variety have been used by folks here. So that's really great.

Andrew Hill: And actually a third of the people have used The Federal Reserve and You, so that's fantastic. So many of you are already using it and we thank you for that.

Mike Vander Velde: All right, so we are back to the slides.

Andrew Hill: OK, so we can go on to the next one and we'll talk a little bit about Chapter 2. One of the things that we have a large interest in here in Philadelphia is the history of central banking. And, of course, the entire Federal Reserve System just celebrated our centennial. Here in Philadelphia we have the buildings that were used by the First and Second Banks of the United States. We have done a lot of work on finding ways to produce booklets, which are also available free of charge that can be ordered in class sets by teachers for their students from our website. But we also wanted to produce a set of video clips that could be used in a history class or an economics class to teach about the history of central banking. So we did that in Chapter 2. Let's advance to the next one, Mike.

One of the things that was really important was to get across the basics of money and banking. One of the things that we recognized from an early point was that in order for students to be able to learn about what it is that the Federal Reserve does, they need to have a good understanding about money and banking, how fractional reserve banking works, etc. And so this chapter, Chapter 3, is Money and Banking 101. And we're really excited about the fact that we were able to add this into the product in order to amplify and get students to understand more about money and banking, perhaps before they learn about the Federal Reserve.

Let's go to the next one.

So in Chapter 4, one of the things about The Fed and You, excuse me, The Fed Today, the preceding video, is we recognized that for teachers who are particularly teaching AP or a general econ class, they wanted to have more on monetary policy. They wanted to be able to take a deeper dive into monetary policy. So what we did was we replicated the monetary policy segment from Chapter 1. We put in there as the introduction to Chapter 4. But then we provided additional content on the specific tools of monetary policy, on the role of the FOMC, etc., in Chapter 4.

Let's go to the next one, Mike.

In Chapter 5 we took a deeper dive into the payment system. So, again, we replicated this payment system segment from Chapter 1, but then we provided three additional segments that provide additional content on the payment system.

Let's go to the next one.

In Chapter 6 we take a deeper dive into supervision and regulation of banking. Again, the third major function of the Federal Reserve. We, again, used the clip from Supervision and Regulation from Chapter 1 as our introduction in Chapter 6, but then we provided some additional information about bank exams, about the role of Congress, and as well about the history of supervision and regulation at the Fed here in Chapter 6.

Let's go to the next slide.

In Chapter 7, here are answers to some specific questions about the Fed, about money, about banking, about other issues that come up throughout the film. These can be used as bell ringers, as discussion starters, even maybe on a classroom-based or school-based television system. So these are some short clips. We call it the Baker's Dozen. It's 13 key questions and their answers.

Let's go to the next slide.

We added some additional content, a lot of additional interview content from folks, including Chairman Bernanke. There you see our former president, President Plosser, here from the Philadelphia Fed. We had this additional interview content and it was really valuable interview content that we didn't want to necessarily leave out of the film completely. What we were able to do is put Chapter 8 into the YouTube channel so that folks can get access to that footage. So things like The Importance of the Diverse Perspectives on the FOMC, that includes Chairman Bernanke as well as Harvey Rosenblum, formerly from the Dallas Fed, talking about the importance of diverse perspectives of the FOMC, as well as Chairman Bernanke's additional interview footage on the Great Depression, are really great clips to be able to be integrated into other classes or to add additional coverage to your existing classes. So we wanted to make that available. Again, it's only available streaming online. It's not on the standard definition disk.

Let's go to the Slide 74, the next slide.

We've written some lessons. We're trying to continue to expand this. But we have three lessons that are up right now that accompany The Federal Reserve and You. One is an introduction to The Federal Reserve and You product. One is on the First Bank of the United States. And one is on Functions and Characteristics of Money. And I'll show you where you can find those on our website.

Let's go to the next slide.

So if you go to our website and you go to philadelphiafed.org/education and you click on Lesson Plans. Next slide.

Then you'll go to the lessons page. And you can use the tab for The Federal Reserve and You to find those three lessons. You could also use that URL that's right there at the top of this slide in order to be able to access the Lesson Plans page directly.

Let's go to the next slide.

If you're looking for The Federal Reserve and You, you can go and search for it on YouTube, but another really great way to get it is right from our website, philadelphiafed.org/education. You can click on The Federal Reserve and You tab.

Next slide.

And once you get to that page you can play the clips right on our website. These are streaming from YouTube, but they're embedded on our website. You can order a copy of the standard definition DVD. And, by the way, I should emphasize that. The DVD is standard definition so that we can make sure you can use it in your classroom with a standard DVD player or on a computer. But if you want to be able to have the 720p higher definition clips, you can stream those from YouTube or via our website. We also provide a list of all the segments. So if you know a specific segment that you're looking for you can simply click on that list of all segments right there from our website and be able to find it very quickly. And you can also play the complete chapters as well.

Next slide.

Another way to get to this content is to go to our YouTube channel, which is Philadelphia Fed. Or you can just search for Philadelphia Fed. If you go down to the Created Playlists, you can find a complete playlist for all 71 clips. That's the playlist that I have circled in red there on the left hand side of the slide. You can also find individual chapters and if you click on those you can go in and find the segments that are in those individual chapters. And then don't forget the little arrow button there on the far right where you can scroll through all of the created playlists.

So this gives folks lots of ways to get at this content and hopefully make use of it in your own classrooms. We do expect to have a spring 2016 release of an updated version of the film, and that will include additional interview footage from different Federal Reserve officials. So we're going to bring out another edition that will be updated.

I think that's it for me, Mike. Were there any questions?

Mike Vander Velde: Yeah, all right. So we do have five minutes left in our scheduled time. And we have a few questions in the queue here. To submit a new one, just click that Ask Question button in the webinar tool. So I will say, Dr. Hill has some fans out there. So there's a few shout-outs. So some folks expressing their appreciation for having either met you or worked with you in the past. And so I think that's really great just to point those out.

Also, a couple of responses to the polling question. Here, this person said, "Hey, I've used all of these. I love them. They're great." So that was nice. Another person said that they haven't used any, so hopefully that will change for them.

So let me go ahead and ask this question. It is right here. It says, "I've taught economics for eight years as volunteer to our local high school students. Are the Dallas Fed books or any other materials for order, available for me to order or must they be ordered by a classroom teacher?"

Princeton Williams: We'd be happy to send them to someone who's volunteering with students. We just, you know, as long as you're educating, in the business of educating students, we'd be happy to send them to you.

Mike Vander Velde: All right, very good. Thank you for that question and those answers. So let me refresh the queue here and see if we have a new question. And I think we do. So this one is asking, "What is the cost to order The Federal Reserve and You videos?"

Andrew Hill: Free of charge. So we're anxious for people to order them and make use of them in their own classrooms. So you can go right to our website and order the free DVD and we'll ship it out to you. And that also goes for any of the booklets that we also have from the Philadelphia Fed. So if you go to Publications on our website you can find a list of the various booklets that we've produced over time. A lot of them about economic history, so we have one of the First Bank of the United States, one on the Second Bank of the United States, and then all the periods of central banking, all the way up through the history of the Federal Reserve. So those are all also available free of charge. But definitely order the DVD and if you want to get one for your colleague as well, you just simply submit another order page in order to get another copy.

Mary Suiter:I just might point out that any of the resources that you learned about today, and any of the resources on federalreserveeducation.org, are free for your use. So there's no charge for using online courses, videos, the Econ Lowdown, instructor management panel, all of that is free. The infographics from Atlanta and any materials that any of us have available are free.

Mike Vander Velde: Awesome. Free is a great word. So let me read this next question. It says, "Will you be offering a summer course in Reading, Pennsylvania, again, as I was at one and it was great?"

Andrew Hill: We had a really great time out in Reading doing our programs the last couple of years. We probably are going to stick back in Philadelphia again, but we would certainly love to have folks down for our Making Sense in Money and Banking course, which is the third week in July this year. If you go to our website, philadelphiafed.org and you click on Training Programs, you can see the list of things we're offering this fall, as well as some indications of the dates of the things that are coming up this summer. So here in Pennsylvania we're certainly very much interested in having anyone who'd like to come to our training programs. And I know my colleagues on the phone also have programs as well that they're doing. And if you're in other areas other than Pennsylvania, certainly go out to your local Reserve bank's website and find out about the teacher training programs that are available.

Mary Suiter:Yeah, I was just going to mention, all of us, Atlanta, St. Louis, and Dallas, as well as other Federal Reserve Banks in the System, have teacher programs throughout the year.

Mike Vander Velde: All right, very good. So let me sneak in a couple of last-second questions here as we have a minute to go. "Do you have an economic terms glossary that you recommend to help explain these concepts with lower-level students?"

Mary Suiter:On the St. Louis Fed website we have a glossary of terms. And many terms we have an elementary version or an elementary definition for younger students. So you could check there on our website, stlouisfed.org/education. There's a glossary and you can create flashcards from that glossary to use with your students. So that would be one suggestion.

Mike Vander Velde: All right, that's great. Another question here is asking if the upcoming videos from the Philly Fed in spring 2016, will they feature Janet Yellen?

Andrew Hill: The answer is we're seeking to get a number of Federal Reserve officials to be part of it. But at this point I can't say who those folks will be. But I think folks can probably think about that.

Mike Vander Velde: All right, so one last question here before we wrap up. We just hit the top of the hour. Oh, I'm sorry, let me pause and refresh that screen real quick. Oh, you know what? Just a bunch of thank yous for your time and for these great resources. That's a perfect way to end this session. So let me do that now. I do want to thank you all for joining us; a special thank you to our presenters for their time. Mary, any last thoughts before we end?

Mary Suiter:I just remind you that we do plan to archive the presentation on federalreserveeducation.org and I'd encourage you to take a look at the resources you learned about today. And feel free to contact any of us if you have questions.

Mike Vander Velde: Sounds great. All right, have a great day, everyone. We'll catch you next time.

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