Education Resources Recommended by Scott Wolla
Scott Wolla is a research officer at the St. Louis Fed. He has a Ph.D. in curriculum and instruction and an M.A. in economic education. Scott is a nationally recognized, award-winning economics educator with 14 years of classroom teaching experience.
Scott's recommendations are intended for high school students. His favorite resources are listed below.
- Supply and Demand Online Module for Teachers and Students
Supply and demand are among the most fundamental concepts in economics. An understanding of these topics helps students better understand the economic world in which they live. This module includes three interactive lessons that introduce supply, demand and market equilibrium. This module uses a fictitious chocolate market to help explain the concepts.
- Classroom Activity: How Fed Policy Transmits to the Economy
This interactive activity reinforces students’ comprehension of the linkages between monetary policy and the economy. The activity first reviews the key concepts on this topic. Students then participate in an active-learning demonstration showing how changes in monetary policy ripple through the economy to move the economy toward the Fed’s goals of maximum employment and price stability.
- How Does the Fed Use Its Monetary Policy Tools to Influence the Economy?
The Federal Reserve has a congressional mandate to promote maximum employment and price stability. This issue of Page One Economics explains how the Federal Open Market Committee (FOMC) conducts monetary policy by setting the target range for the federal funds rate and how the Fed uses its policy tools to steer the federal funds rate into the FOMC’s target range.
- Teaching the Linkage Between Banks and the Fed: R.I.P. Money Multiplier
The money multiplier has been a standard concept in introductory economics classes for decades, but changes in the way the Fed implements monetary policy has made the model obsolete. This issue of Page One Economics provides information about the linkages between the Fed and the banking system and provides teaching suggestions.
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You can contact Scott at 314-444-8624 or Scott.A.Wolla@stls.frb.org.