Mar 8, 2011

The Classroom Economist

The Federal Reserve Bank of Atlanta has just released a great new feature called "The Classroom Economist." The first topic covered is inflation. Watch as 2010 Georgia Economics Teacher of the Year, and former Econ Blog contributor, Michael Melvin demonstrates an inflation auction lesson to a class of students. The lesson, which is as rock-solid as they come, will help to answer the "Why don't we just print more money to "fix" the economy?" question you hear from time to time.

Another great feature is the "Chat with the Economist" video that accompanies the lesson demonstration. Fed Economist Mike Bryan does a masterful job in explaining the root causes of inflation while talking about historical instances of hyperinflation and its numerous negative consequences.