In the words of College Gameday’s Lee Corso, “Not so fast my friend.” Your work is not yet done.
Just when you think your kids have it and they understand fiscal and monetary policy, someone asks a question that lets you know that they still have no clue how the Fed or Congress might respond to specific economic problems. So I now use this activity* (heavily borrowed from a Fed workshop) as one of the final assignments in my Macro unit. It brings together all the elements. Students have to diagnose problems in the economy and prescribe a remedy for both Congress and the Fed. And just in case your students are getting cocky, they are even thrown a curveball on how to battle stagflation using monetary policy. - Melvin
*Send an email to email@example.com if you would like a copy of this activity. Someone with way more technological skill than I would know how to attach a Word document to this post. Sadly, I am not that person- Mike Raymer