CHAIR THE FED is an online game by the San Francisco Federal Reserve Bank, which teachers can use in class to allow students to play the role of Central Banker and learn about how monetary policy, i.e. changing interest rates affects the economy's growth and inflation.
Through playing the role of Federal Reserve (“FED”) Chairperson, and undertaking monetary policy decisions, students will be able to understand more fully:
1. the macroeconomic performance of an economy,
2. the transmission mechanism of monetary policy (interest rate changes) to the macroeconomy
3. the time lag between effecting monetary policy changes and its impact on the macroeconomy
Our ArcLab Lesson Plan has 3 components:
1. Teacher’s guide for the Learning Game – For teachers to facilitate students learning the topic's specific concepts interactively
2. Quiz Questions – For teachers’ consideration to assign to students to test their understanding on the topic
3. Suggested Reading – Curated weblinks which we’d like to suggest for teachers’ consideration for your students.
Credits: http://sffed-education.org/chairthefed/; San Francisco Federal Reserve