This is one of a series of essays adapted from articles in "On Reserve," a newsletter for economic educators published by the Federal Reserve Bank of Chicago. This pamphlet explains how public debt incurred by the federal government may not be necessarily bad from an economic perspective. The sections of the pamphlet include: (1)…

Maintains that, although U.S. currency today is pure fiat money and not backed by gold or any other precious metal, students frequently ask, "But what about the gold at Fort Knox?" Describes what is really located at Fort Knox, why it is there, its implications for public policy. (CFR)

This pamphlet recaps the chain of events known as The Bank Panic of 1907. Historians view this as a watershed event that had a lasting impact on the financial system of the United States. The panic resulted from the collapse of the United Copper Company and was averted with the intervention of John D. Rockefeller and the J. P. Morgan Company. The…

This booklet examines the political events of the year 1912 in which the idea of the Federal Reserve System came into reality. Excerpts from reminiscences, letters and newspapers of the time give an inside look at the divergent forces and personalities that were brought together to form the central banking system of the United States. Sections of…

Contends that the field of economic history is no longer a separate subfield of economics but an integral part of the entire discipline. Explains the concepts of monetary policy, labor force development, and economic growth in U.S. economic history. Concludes that the end of economic history is the beginning of better and richer economics. (CFR)

Utilizes two-dimensional price and output graphs to demonstrate the way that the price-level elasticity of aggregate demand affects alternative monetary policy rules designed to cope with random aggregate supply shocks. Includes graphs illustrating price-level, real Gross Domestic Product (GDP), nominal GDP, and nominal money supply targeting.…

Award-winning teacher-developed projects and courses in economics are described. The projects are designed for use in grades K-12. Descriptions indicate grade level, project background, time allotment, objectives, activities, and evaluation. Chapter 1 suggests ways to teach economic concepts in grades K-3. The projects included a year-long study…