In this session of the Classroom ECONnections from the Fed webinar series, presenters from the Federal Reserve Banks of Atlanta, Philadelphia, and St. Louis feature resources that can be used to integrate history and economics in high school classrooms.
Below is a full transcript of this video presentation. It has not been edited or reviewed for accuracy or readability.
Denise Davis: Good afternoon, and welcome to today's Classroom ECONnections with the Fed Webinar. Our discussion today focuses on resources for teaching history and economics. I'm Denise Davis with the St. Louis Federal Reserve, and I'll be your facilitator. Our presenters are joining us from Feds across the country today. From Philadelphia, we have Andrew Hill. From the Fed in Atlanta, we have Lesley Mace. And joining me in our St. Louis studio is Scott Wolla.
Let's move on to slide 2, and I'll cover the call logistics. If you haven't done so yet, click on the webinar link you received after registering. This option offers a few benefits. You can watch the slides as they're advanced. You can type questions to us, download the session materials, or even choose to listen to the audio through your PC speakers. I'd like you to know that your webinar performance does depend upon your connection, so if at any time you're having problems, just pick up the phone and dial the toll-free number. As for questions, you can submit them at any time by clicking on the Ask Question button in the webinar tool.
One additional note, the views expressed in this presentation are those of the presenters and are not the official opinions of, nor binding on the Federal Reserve Bank of St. Louis, nor the Federal Reserve System. Now with all of that out of the way, let me welcome our first presenter, Andrew Hill. Take it away, Andrew.
Andrew Hill: Thanks so much. Welcome everyone to our webinar today. We're really excited to be able to share with you a number or resources that the various reserve banks have for teaching about economics and history together. So the first thing I want to tell you a little bit about is our Benjamin Franklin and the Birth of a Paper Money Economy. So this comes from the Federal Reserve Bank of Philadelphia. Back a few years ago, we had the 300th anniversary of Benjamin Franklin's birth, and at that time we had a lecture here at the reserve bank on Benjamin Franklin and his ideas about paper money. So actually Benjamin Franklin was one of the earliest Americans to write about paper money, and actually wanted his—first publications that he printed in his printing office here in Philadelphia was actually on paper money. So in addition to all the other things that we know about Ben Franklin, the great things he did in science and government, he also was interested in economics as well.
I've provided a LiveBinder for you, so if you use the link that's at the bottom of my slide there, and it appears on most of my slides here today, you can access the resources in PDF form. It also will give you an opportunity to be able to order from our order form, so I've provided a link on our website inside the LiveBinder, where you can actually go ahead and order these materials.
So this is a publication that came out of that lecture that Farley Grubb from the University of Delaware gave. And it really talks about what Franklin's observations were. So this is a printed brochure that comes from that lecture, and he talks about the fact that Franklin observed when he first came to Philadelphia—he observed that when there wasn't enough money in the Pennsylvania colony, economic activity slowed, population growth slowed, people stopped immigrating to the colony. And so having too little money in the economy was a bad thing. He also observed, particularly by looking at other colonies that had printed too much paper money, that if you had too much money in the economy, that could lead to inflation. So he was one of the very first people to be able to observe this in the United States.
So in addition to having the paper publication, which you can order in free class sets, we also developed a lesson that goes along with it, so that you can integrate both the informational text in this publication, along with some classroom activities. So let's go to the next slide. In this lesson that goes with it—and I've provided the PDF to that on the live binder, but you can also always find it on our website, philadelphiafed.org. In this lesson, we talk with the students about the functions and characteristics of money.
But we also do a couple of activities, and I'll just describe one of them here on this slide. You see the visual that goes along with the auction. So we do this classic inflation auction, where the first round, you're auctioning off two items, and you give them some type of play money. In the case of this lesson, we use some dried pasta to represent money. And you auction off those two items, whatever they are, candy bar, homework pass, whatever the case may be, and you record the price. And in the second round, you actually increase the money supply significantly. In the case of this lesson, we use a different shaped pasta to represent a higher denomination currency. And then you actually sort of flood the market with additional money, and you see what happens to the prices. And the prices go up in the second round. So you need to have two items—two of each of those two items that you can run two rounds of this auction. So a classic way of showing that when you significantly increase the amount money in the economy, you drive prices up. You cause inflation to come about.
So let's go to the next slide. I'll describe just briefly for you here what the activity is—the other activity is. In this one, you're trying to get the students to see how it is that too little money makes it difficult for economic activity to take place. So we actually have a bunch of what we call trading direction cards. And again, these all come in the PDF of the lesson. You use those to direct the trading. So the students have—each student has a certain item that they have to sell, and they have an item that they have buy. And then you use the commodity cards on the right-hand side there to be used for actually trading, so they're trading those cards.
In the first round of this activity, the students have eight gold and silver coin cards amongst the ten students in each group. So this is plenty of money in order to be able to make those transactions take place. They're not trading item for item; they're using the money cards. And actually we can go to the next slide and show those money cards. They use the money cards to actually carry out the transactions. Then you collect up those cards from the students. You put them all back together into their matched sets. And again, then you have them trade again, but this time you only give out two of those coin cards.
So this is a great activity, in fact the only one that I know of where you actually show that if you have too little money in an economy, economic activity is going to be very difficult. In fact, what tends to happen is the students are left standing there, many of them, without a way of actually buying the goods that they want in the activity because there's not enough money left. And they would then be forced to have to barter, which you tell them not to barter, so that you can actually illustrate the fact too little money is going to cause economic activity to be very slow and difficult to come about.
Another thing we developed for this publication was this reading guide. And again this is in that lesson, so handout 4 there that's on the right-hand side of the slide. And that reading guide then directs their reading and gives you a set of text-based questions that they can use when reading the publication. So that's our lesson that goes along with the Benjamin Franklin and a Birth of a Paper Money Economy publication. And again you can order that in free class sets from our website. You can access the PDFs on our website of the publication and the lesson. And you can also find our order form on a live binder that I've listed there at the bottom of the slide.
Let's go on to the next slide. One resource that hopefully you're aware of is our Federal Reserve and You video project. We released this in 2013. It's available both in a DVD form, but also online on YouTube on our Philadelphia Fed YouTube channel. And you can access that YouTube channel both through our website as well as directly by going to YouTube. One of the things you may not be aware of is that chapter 2 of this resource is all video clips about the history of central banking in the United States.
Let's go the next slide. So I've give you a screen capture here of that chapter 2 playlist from the Federal Reserve and You project. And you'll see there that we start off with segment 201 on the First Bank of the United States. So this talks about Hamilton versus Jefferson, talks about the state of the economy during the early federalist period, talks about the operations of the First Bank of the United States. One of the things that I think's really important for history teachers is, while we are very good at teaching about the constitutionality of the First Bank of the United States and the battle between Jefferson and Hamilton over the founding of the First Bank, we're not very good about talking about the economics of the times and talking about the operations of this institution. And so we've done a lot of work around that, both in this video clip as well as in a publication that I'm going to show you.
So in segment 202 of the Federal Reserve and You project, we cover the Second Bank of the United States, Jackson versus Biddle. And then it continues on—we'll go to the next slide. And by the way, there's our YouTube URL. You can go right to Philly Fed there in YouTube. Zooming in on the segments, you'll see we go all the way down to segment 209, which covers the financial crisis of 2007, 2009. So we cover all the major periods of central banking in the United States, so this is a great resource. All the clips are relatively short. You can use them as bell ringers. And in the case of some of the segments, we actually have lesson materials that are produced for them as well.
Let's go to the next slide. Here I'm showing the lesson that we produced to go along with segment 201. This is a lesson that goes with that First Bank of the United States segment. And again you can access this PDF in our live binder, but you can also access it on our website at any time under Education at philadelphiafed.org. And the concentration in this lesson really is looking at excerpts from the Hamilton versus Jefferson debate that took place. And again this debate was done in writing primarily with President Washington. So the letters that Hamilton and Jefferson wrote to President Washington, we're taking excerpts from those, and students look at those and identify whether they think it's Hamilton or Jefferson, and then actually paraphrase it in their own language what they think it is that Hamilton and Jefferson are saying. So this is a great lesson that goes along with that segment, and it includes discussion questions.
Let's go on to the next slide. The Federal Reserve Bank of Philadelphia, we began our formal interest in the First Bank of the United States—which I should mention, this building which you see here in this great Birch lithograph that's on the cover of our publication, this bank building is only four of five blocks from the Federal Reserve Bank of Philadelphia. So we actually take teachers there during our summer teacher training programs. We started really our formal production of materials around this with this publication, The First Bank of the United States: A Chapter in the History of Central Banking. You can order this in free class sets as well. So if you're teaching U.S. History, what I call U.S. History 1, you're talking about the federalist period, you certainly can order class sets of this publication. And then we have a lesson that goes along with this publication. Again, that's available in the live binder that I've provided, but you can also access it on our website.
Let's go to the next slide. One of the things that I created in this lesson is a reader's theater. So one of the things I think is hard for students to understand is, what was the economic conditions of the country at the time that the First Bank of the United States was founded? And so in this reader's theater, which is set in a coffee house here in Philadelphia, the students get to hear about what was going on in terms of the economy in 1791. And they also learn in the reader's theater the arguments that Hamilton and Jefferson have put forward. Then they go and they do exactly the same activity in—that they would have done in the previous lesson that I showed, which is the Hamilton or Jefferson, identifying that from the quotes that we've taken from the letters that they wrote to Washington about the founding of the first and second banks. So again that lesson's available for free download, and I encourage you to order copies of that publication for your students and make use of the lesson.
Let's go to the next slide. We then produce two additional publications, one on the Second Bank of the United States and one on the State National Banking era. So if you want to continue on to be able to share about the history of central banking with your students, talk about Jackson versus Biddle for instance and the founding—or I should say the end of the Second Bank of the United States, you can do that with these publications. Again, they can be ordered in free class sets on our website, and I've provided a link to the order form in the live binder that I've listed there at the bottom of the slide.
Let's go on to the next slide. We finished up our series by producing a publication called Federal Reserve System, the First 100 Years. So this was released in 2014 for the 100th anniversary of the Federal Reserve System, and so this provides a nice concise, very readable history of the Federal Reserve System for your students. And again you can order this in free class sets as well.
Let's go on to the next slide. I wanted to share one additional resource with you that comes from my colleagues at the Kansas City Fed. They've produced a publication, which again you can make—get access to and order copies of. It's called The Balance of Power. And so this talks about the political fight for the independence of the Central Bank. It covers the period from 1790 to the present, and it has some great historical photos, some political cartoons that are there as well that you can use with your students. And it really—one of the big focuses of this publication is to consider, why is it important for us to have an independent Central Bank, a Central Bank that's free from political control and influence? And they've produced a teacher's guide that helps you to work with your students to develop understanding of what it is that the Fed does and why it is that we function in the way that we do. You can access those resources on their website, KansasCityFed.org, under Education, and look under the Resources section.
So let's go on to the next slide. And I want to thank everyone for joining the webinar. I'm going to hand it over to my colleague Lesley, who's going share with you some additional resources from the Atlanta Fed.
Lesley Mace: Thank you very much, Andrew. I am going to tell you about resources from the Federal Reserve Bank of Atlanta in our Classroom Economist series, which is an online multi-media teaching package that you can use, either for your own professional development, or you can use the many features with your students.
In our Classroom Economist, we have four different sections. The first part deals with banking, which has modules on the Federal Reserve and also money. We also have an economic indicator section, which has information on GDP, inflation and unemployment. In the Federal Reserve tab, you can find our historical information. There are also modules on monetary policy and the structure and functions of the Fed. But there you will find modules on the history of central banking and also on Jekyll Island, which I will be talking about today. And there is also a tab for infographics which are infographic posters. We have 13. Seven deal with the economic topics and six are personal finance. And I've got the link to our Classroom Economist modules there at the bottom of the slide. And we'll go on to the next slide, and I'll tell you a little bit more about each of the features.
So here is our History of Central Banking module. This module starts with the First Bank of the United States, the Hamilton and Jefferson debate, goes through the Second Bank of the United States, Andrew Jackson's war with the Second Bank and ultimately his veto of the Charter of the Second Bank of the United States. It touches on the Free Banking era, the National Banking Act of 1863. There is a section on the gold standard, the Panic of 1907 and then the proposal for a new Central Bank, including, as eventually was passed, the Federal Reserve Act of 1913. It delves into the mission of the Federal Reserve and also looks at the conditions of the economy here in the 1920s and the Fed's actions or lack of actions during the Great Depression.
Each of these modules has several components. The first one will be a Smart Board file that will have a smart board lesson, and all the lesson procedures will be listed. It will also have there, if you do not have Smart, then on the right-hand side you can see that there are instructions on how to open the Smart notebook files without Smart software for the free download. So you will lose some the interactivity, but you will still have all of the content there. We also have a narrated Powerpoint presentation that will have all your content with a voiceover Powerpoint there. And a Test Your Knowledge interactive which is a Powerpoint quiz that you can use with your students that's in the Powerpoint format there because then you have the ability to modify the quiz. You could also use those questions if you're using something like the Kahoot or Socrative with your students to test their knowledge on the content.
We always include a Resources Guide with several different resources that you can use. And then there's an interactive lesson. So for this module, the lesson is The Great Depression, Could it Happen Again? Actually, we'll be talking about that lesson and curriculum a little bit later in the webinar. And this an interactive lesson that focuses on monetary policy.
All of our modules also have videos, two different types. The first one is called An Economist's Perspective, and this will have short clips featuring economists from the Federal Reserve Bank of Atlanta. These are primary sources that you can use in the classroom. And also, we have a master teacher doing a lesson demonstration. And I'll tell you a little bit about both of those shortly.
And we'll go on to the next slide. Here, this is just giving you a sample of what the slides look like. This is the First Bank of the United States, our first slide there. We'll talk about the evolution, the process of how we came to have the Central Bank we have today, looking at historical, political and social influences, and also the importance of the roles Central Bank plays, for both monetary policy and financial stability. And so the Powerpoints are set up so that you can use those in the classroom. Or if you'd just like to learn more about the topic. And if we'll go on now to the next slide, I'll tell you a little bit more about the voiceover Powerpoint.
This is just a sample showing you the voiceover Powerpoint, what it looks like. You do have the navigation buttons on the right, so you can move it forward and backward and adjust the volume control. Here's just some information that contrasts the differences between the First and Second Bank of the United States. And we will move on to the next slide where we will learn just a little bit more about the Test Your Knowledge.
So this is what the Test Your Knowledge Powerpoint looks like. There are about 10 questions for each module. You can launch it in the slideshow mode from Powerpoint. When students click on the answers, if they have the answer correct it will have an arrow for them to move on to the next question. If it's incorrect, it will provide them more information on the choice that they made, why it's not the correct answer, and then give an arrow to go back to the question again to choose the right answer. And in this Powerpoint mode, that does give you the ability to modify the questions for your own use. And we'll go on to the next slide.
This is a look at the video content, so on the left-hand side you have the History of Central Banking, an Economist's Perspective. So our speaker for this module is Tom Cunningham. He's retired now, but he was vice president and senior economist and regional executive of the Federal Reserve Bank of Atlanta. And in his economist's view, we have four short clips. They're about four to six minutes each. He talks on the early history of central banking, the Panic of 1907, the creation of the Federal Reserve, and the Federal Reserve and the Great Depression.
On the right-hand side, we have a master teacher actually demonstrating the lesson for this module. It's Leah Kilfoyle, and she is a teacher in the Birmingham, Alabama area. And one reason that we brought in this feature is because sometimes you'll read through a lesson and you're not really sure what it will look like, or how it will feel in the classroom. And this gives you a demonstration of the lesson, a live demonstration, plus also some tips from these master teachers who are giving you ideas on how they use it in the classroom and how best it works with students. And so we included that as well.
And we'll go on to the next feature, next slide. The second history module that we have is Jekyll Island and the Creation of the Fed. It goes through background information on Jekyll Island, talks through the myths and misunderstandings about Jekyll Island and what occurred there, goes through the banking panics and the Panic of 1907 that led to the Aldrich-Vreeland Act, which established the National Monetary Commission as we came up with a new plan for a Central Bank. And then talking about the historic meeting that took place on Jekyll Island, looking at who was at the meeting, why the meeting took place. And then the Aldrich plan, which was the plan that was drafted at Jekyll. One of the things that—the lesson does point out that this plan when it reached Congress was not passed, but parts of the bill were a blueprint for the Glass-Owen bill, which did eventually become what is known today as the Federal Reserve Act. And so that's touched on in the lesson. We also have a video about the history of Jekyll Island. And we'll go on to the next slide, and I'll tell you a little bit about the lesson that accompanies this module.
There are two parts to the lesson for this module. And the first one, it's a WebQuest about the history of Jekyll Island, all the way starting from the beginning when it was first discovered in the 16th century by Spanish explorers, its history as the Jekyll Island Club, its eventual purchase by the state of Georgia, and now its designation as a national historic landmark.
Another part and feature and activity that's in the lesson is looking at some primary sources. And so here we see a newspaper article from 1911 in the Washington Herald, which is reporting on a speech that President Taft gave in support of the Aldrich Plan. Students also will be looking at an article from The Commoner from 1911 on that same speech, written by William Jennings Bryant. And he is not in favor of the Aldrich Plan, and so students will compare and contrast the articles through a close reading, looking at the language used, gaining skills for looking at language that indicated that the article could be an editorial, the distinguishing between opinion and fact, and looking at both of these articles in a historical context.
Another part of the activity that is included in this lesson is to look at actual excerpts from the Aldrich Plan and the Federal Reserve Act, and looking at some of the features between the two and how we got plans through the Jekyll Island meeting, the Aldrich Plan and then the Federal Reserve Act, where we got our centralized Central Bank that we have today.
And I will go on to the next slide. Our Classroom Economist does have video content, and one of the features that I know many teachers have asked for is to have some sort of assessment for the videos, so that we can make sure that students have absorbed the content. And here we have the Classroom Economist modules that are contained in the Federal Reserve Bank of St. Louis's Econ Lowdown Online Learning portal. You can set up a free account with just an e-mail, set up a class very easily, and have access to content across the Federal Reserve Banks and their educational content.
And here we have some of the clips from the Classroom Economist. You can upload your student list, assign these videos to your students, and then have them take a quiz on the content. And the results of those quizzes will be sent to your inbox through the instructor portal. And so that's a way that you can assess their learning as well as you go through the modules.
We'll go on to the next slide. If you have any questions about any of the Federal Reserve Bank of Atlanta's resources on history or the Classroom Economist, please feel free to contact me. And now I will hand it over to Scott Wolla from the Federal Reserve Bank of St. Louis.
Scott Wolla: Thanks Lesley. So I'm going to tell you a little bit about some of the resources on the St. Louis Fed website that have to do with history and economics. The first lesson I'd like to talk about is called the Free Silver Movement and Inflation. And this lesson includes both history and economics. It focuses on the election of 1896, which was William Jennings Bryant versus William McKinley, and it includes some primary source material, such as the political cartoon on the left-hand side as well as one more political cartoon from the era, and also Bryant's famous Cross of Gold speech. So students take a close look at the speech. And this is kind of the conclusion of the lesson, so students have gained an understanding of why the money supply is important. And then students do some close reading to kind of pull that from the speech.
The economic concepts involved in this lesson are the characteristics of money. This lesson involves an inflation auction, which Andrew mentioned before. This is, again, a classic way to talk about that relationship between money supply and the rate of inflation or deflation. And through this, students gain a better understanding of not only the economics, but the argument that was actually happening at the time. This is an active learning lesson, so in addition to the inflation auction, students look at some historical data. And they look at why inflation would've been advantageous for some groups of people and why it became a political issue.
Next slide, please. Another lesson we have is called Constitutionality of a Central Bank. This one could be used in really either a history, a government, or an economics class. It uses the Constitution, Article 1, Section 8 of the Constitution more specifically, and in the case that was tried, McCullough versus Maryland, about the National Bank to talk about central banking, you know, as it stood in American History. It looks specifically at the phrase, to coin money and regulate the value thereof, to talk about central banking and whether or not it is constitutional. And then as the lesson develops, it talks about the Federal Reserve, the role the Federal Reserve plays in regulating and influencing the money supply and the inflation rate, and also the importance of price and ability.
This is an active learning lesson, so students are each assigned an implied power from Article 1, Section 8. And then they have to find the express power that best matches their implied power. So it does get students out of their desks and applying their knowledge, but there's also a lot of great content in this lesson.
And next slide. And you may have noticed on several of these slides that the URL is listed, so if you have access to the slides, you download them, you'll be able to click the link and go to the various webpages from Andrew's or Lesley's or my slides to find these resources. This lesson, The Arsenal of Democracy, looks at the United States during World War II, specifically on the home front. So it takes a look at propaganda and analyzes propaganda techniques to identify how the government attempted to use propaganda as a method to increase the number of resources available to fight the war. Of course, this lends itself nicely to talk about, you know, concepts such as scarcity, opportunity cost. It uses the production possibilities frontier, which is in everyone's economics textbook. And actually it helps students kind of, you know, understand this resource scarcity issue as a concept and a theory, but then at the conclusion of the lesson, they apply historical data to the PPF and really start to see what was happening on the home front.
Once again, this is an active learning lesson. Students actually have cards, and they, as a class, build the PPF. There is a gallery walk that involves the collection of propaganda that is actually included in the lesson. All these lessons, you know, you download it for free from our websites, and they include all the materials you need to teach the lesson, including step-by-step directions, the visuals, the assessment tool, the handouts and so on.
And next slide, please. This next resource is actually from the Federal Reserve Bank of Kansas City, and the URL again is at the bottom. And this resource includes both a lesson and a Prezi. So using World War I as a backdrop this time, students learn about the Federal Reserve and the role it played in helping the U.S. Treasury finance the war. Groups of students are given a historical persona, and then using the information that's supplied with that persona, they have to plan a budget, and then also figure out how to meet their objective, but also buying liberty bonds to help finance the war. And the Prezi is super professional. It's got some great visuals and it teaches—in addition to this idea of Federal Reserve, it teaches some U.S. history—U.S. World War I history I should say, but then also gives a lot of great information about the role of liberty bonds in financing the war.
And next slide, please. So at the Federal Reserve Bank of St. Louis, one of the keystone curricula that we've developed when it comes to economic history, revolves around the Great Depression. We did this a few years ago now, and when we wrote this, we actually had Ben Bernanke write an essay that's actually a welcome essay. And so the quote here is from that essay, but you know, he describes himself as a Great Depression buff the way that some people are Civil War buffs. And he argues that, you know, really understanding economics requires—or you know, a person to really become a student of the Great Depression. And I think he's right. This is a great group of lessons that we've developed.
And on the next slide, you'll see some of the topics. These are six individual lessons, and you could choose to either download the individual lessons or the entire curriculum. Each lesson includes active learning. All the activities are included. All the handouts are included, step-by-step teacher instructions. A lot of primary source materials are included, including the visual on the left-hand side. You see a political cartoon from the period. As I said, these are six individual lessons. Each lesson takes a different aspect of the Great Depression, kind of working through chronologically. So the first one actually looks at economic data, and first it kind of teaches students the concepts behind GDP, unemployment and inflation. And then students look at the historical data, so they get a better understanding of, you know, kind of the economic indicators and what they have to say about this period.
Number three is actually one of my favorite lessons, What Really Caused the Great Depression. I think sometimes students walk away from—especially how text books treat the Great Depression with the understanding that it was the stock market crash, and there was the Great Depression, and A caused B. And it's a little more complex than that, and this lesson does a great job of kind of breaking that apart for students.
Lesson four is about the New Deal. Number five looks at the Fireside Chats and FDR's involvement in combatting the Great Depression. And then number six actually looks at monetary policy. It looks at what the Fed did during the Great Depression, looks at how the current Federal Reserve uses monetary policy to deal with meeting stool of mandate objectives, but also dealing with financial crises. And it's a great way to bring in the Federal Reserve into a history classroom.
And next slide. For each of these six lessons, we've also developed an online version. So the content and the concepts stay the same in each of these six lessons. The only thing that changes really is that instead of active learning in the classroom with face-to-face teacher/students, we've created these online modules. And on the next slide, you'll see some examples of some of the interactives that we've used. So I guess you can never really replicate the magic of what happens in the classroom, but we've done our due diligence to, you know, create similar learning activities for students. And so in the upper right-hand corner, you see a Check for Knowledge. So this is kind of a concept, a vocabulary drop where students get instant feedback on whether they are correct or incorrect. But then if students find an incorrect answer, at the bottom of the screen in that red bar it explains why that is an incorrect answer. Students can go back and change their answers on these Checks for Knowledge.
Each of the modules has a pretest. The concepts and the content is actually sandwiched into that next section with all these interactive Checks for Knowledge, and then each of the modules ends with a post-test. As a teacher, you can go into the portal that Lesley mentioned earlier and retrieve those scores, download those scores and use them in your own assessment for, you know, grading or whatever purpose you see in gathering that data. A little over to the right is an interactive activity that we took from one of the lessons. So this is an example of a classroom activity that we actually generated into a drag and drop, and I think it works pretty well.
And so the fact that this is in paper and online, allows you to kind of mix and match. You can teach some of these classes—some of these lessons in the classroom, or you can choose the Flip to Classroom and use the modules to kind of introduce the content and then reserve your class time for more of the active learning side.
And next slide, please. As part of building this Great Depression project, we developed kind of some tangential materials as well, some related activities and so on. One of the things that we did is create these interviews with people who lived during the Great Depression. And these people were all young people, children during the Great Depression. And this is just a series of interviews with these people about what it was like to live during the Great Depression. And I found them fascinating, and you might want to, you know, use them in your classroom or assign them to you students. I think today's students who might be attached to their iPhones and Android devices might find it hard to really relate to what's happening in their text book. And this kind of view into what it was like to be a kid during the Great Depression is a great way to translate that.
On the next slide, we also have here at the St. Louis Fed an economic historian on our research staff, David Wheelock, who has done a lot of writing and research on the Great Depression, and also does some presenting for us. He presented at a teacher workshop a couple years ago, and we videotaped that and we put it on our website. We've segmented it into chapters, and so you can either watch the entire video. It's a one-hour lecture on the Great Depression. Or you can look at the specific segments. And he does a great job of talking about the Great Depression as an economic phenomenon, but then also talking about the role of the Fed and what the Fed did and didn't do during that time period.
And next slide. Page One Economics is a publication that we produce here. It is published monthly during the school year, five issues a year. Economics, four issues. Personal Finance is not necessarily a history document; it's focused on economics, but we have taken up historical topics from time to time. So the three I want to mention briefly. We did an issue on the Great Inflation. We did one on the gold standard which really focuses on kind of the current discussion on the gold standard, but really looks backward at, you know, the history that this country has with the gold standard as well. And then we did one on the Great Depression and the Great Recession, kind of a compare and contrast of the two. As with all Page One Economics issues, it comes with teacher materials. So on the left-hand side, you see the actual document the students read. Kind of on the – towards the right-hand side, you see some of the teacher documents, so all of these publications have data. There's a study guide for students and an answer key for teachers, so you just go to our website, download it, and it's a classroom ready resource that you can use.
And next slide. The next resource is actually—I think it's the newest resource we have when it comes to economics and history, The Acceleration of the Great Migration. This is a really cool lesson that uses a lot of primary source document. It also uses the PACED decision-making model, if you're familiar with a lot of the economics curriculum that's out there, this is a method of making decisions using economic reasoning and thinking.
And on the next slide, it—you'll see that the students are actually divided into six groups. So it involves multiple perspectives. A lot of the information provided again is from our FRASER primary source collection, so it's all a great way to introduce primary sources into the discussion. On the economics side, this is all about labor force, supply and demand. So it is really kind of a great blending of history, primary sources and economics. By the way, we do have this collection of primary sources here at the St. Louis Fed on our FRASER website.
And if you're interested in learning more about FRASER, on the next slide I have some information about a webinar that'll be happening next week at this same time. It's FRASER in the Classroom. And you're going to learn about how to access letters, maps, government documents to illustrate specific events or larger trends. Also, the facilitators will demonstrate how to use FRASER in your classroom, and also how to access ready-made lessons for your classroom that use FRASER documents.
And next slide. One more resource that we developed just a few years ago—we, meaning the Federal Reserve System, not necessarily the Federal Reserve Bank of St. Louis—was in conjunction with the observation of the Centennial. We developed three lessons that have to do with the history of the Fed: Defining Moments in Federal Reserve History, The Federal Reserve System Shuffle and Changes and Trends in the Federal Reserve Functions. These are on FederalReserveEducation.org website and the link is there, so please be aware of that.
And finally I'd like to thank you for attending the webinar. And my contact information is here if you have any questions about St. Louis Fed web's resources, please contact me. And Denise?
Denise Davis: Yeah, at this time, we would like to open it up to questions. So if you're in the webinar tool, you can go ahead and just click on that Ask Question button and submit your question to us. So I will pause just a moment, and it looks like we do have question coming in. I have a colleague who was unable to participate today. Will this webinar be available to watch at a later date?
Scott Wolla: Yeah. Actually, we record all of the webinars in this series, and they will be archived on at least one of the Federal Reserve Bank websites, potentially more. There is about a one-week lag when it comes to publishing this, so make sure that you keep this posted somewhere in your mental notes. Reach out to us, either Andrew, or Lesley or I, and we'd be happy to send you the link when this becomes available.
Denise Davis: All right. Thank you, Scott. While I'm waiting for people to go ahead and submit their questions, Andrew or Lesley, do you have any closing comments that you'd like to offer?
Andrew Hill: We really appreciate everyone joining today, and we hope that you'll check out all the resources that we have available, and certainly order materials to use in your classrooms and make use of those lessons.
Denise Davis: All righty. Thanks, Andrew.
Lesley Mace: Yes, thank you everyone for joining us today.
Denise Davis: All righty. Looks like do have a question coming in. Is there one location that these different Federal Reserve sites – for these different Federal Reserve sites, and where is it located?
Andrew Hill: Yeah, FederalReserveEducation.org is the place to go. That's our portal site for all of the economic education resources from all the different Reserve banks. That's a great first stop whenever you're looking for materials from us.
Denise Davis: All right. Thanks, Andrew. We have another question coming in. Do you have any materials on alternative currencies like Bit Coin or Ether?
Scott Wolla: So this is Scott in St. Louis. We don't have education materials about Bit Coin, but we did have a lecture here at the Bank by one of our economists on Bit Coin. And we do have video footage of that lecture. And so it is on our St. Louis Fed website. If you want to e-mail me, I'd be happy to send you the link. I don't know if Andrew or Lesley have something?
Andrew Hill: No, we don't have anything specific on Bit Coin, no.
Lesley Mace: No, we don't either.
Denise Davis: Okay. Thank you for that. We do have another question that just came in, and they were asking if they're able to download the session materials. So if you're in the webinar, you should just be able to click on the Materials button and download a PDF version of the slides there. And I'll pause just a few more seconds to see if anybody is submitting a question at this time. All right, so I don't see any more questions coming in. So if you joined us in the webinar, you'll likely see a survey link. It should pop up on your screen at this time. Please take a moment to complete that and let us know how we're doing. We'll also be sending out the survey via e-mail. You only need to fill it out for us once, but we do appreciate your feedback. And we will really read all of the responses. So I'll pause just another second, and I don't see any questions coming in. So with that, I'd like to thank everyone for joining us today. And a very special thank you to our presenters for your work on this session. I'll officially bring this session to a close at this time. Everybody have a great rest of your day. Thank you.
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