Provides a graphical framework for presenting interactions among current account flows, capital account flows, and exchange rates. Suggests that the two type of flows must be considered separately in discussions of foreign exchange equilibrium and balance of payments flows. Supplies sample graphs and instructions for applying the framework to real…

Economic education is needed. Elementary school children should be taught the following concepts of economics: that economics is concerned with the problem of deciding how to make the best use of resources to satisfy human wants; that production and consumption are functions of any economic system; that in America competition in a market is the…

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)…

This booklet is a compilation of articles on money market instruments which were published in the "Monthly Review" of the Federal Reserve Bank of Richmond from 1964-1967. They have been revised to include recent changes in the various markets, as well as to reflect currently applicable laws and regulations. The articles are titled: The Money…

This pamphlet defines "national debt," explains how the national debt is incurred by the federal government, and what deficits are. The sections of the pamphlet include: (1) "Definitions"; (2) "History"; (3) "Measurements"; (4) "Problems"; and (5) "Strategies." The text is written in a…

Discusses real business cycle analysis, growth theory, and other economic concepts in the context of the rational expectations revolution in macroeconomics. Focuses on post-1982 research. Concludes that the rejuvenation of growth analysis is an encouraging development because it could lead to changes in welfare policy. (CFR)

Part of a series of instructional packages for use in college level economics courses, this document contains nine lecture outlines on macroeconomics. The first section deals with basic macroeconomic concepts in terms of underlying microeconomic behavior, national income and product accounting, nominal and real GNP, actual and potential GNP, and…

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…

The purpose of this high school consumer education course is to make the student sware of his place in the economic system. This is achieved through the attainment of certain goals: 1) an understanding of the American economic system; 2) the function of money and banking; 3) a consideration of various types of insurance; 4) an identification of…

Demonstrates how a simple portfolio problem expressed explicitly as an expected utility maximization problem can be used to instruct students in portfolio theory. Discusses risk aversion, decision making under uncertainty, and the limitations of the traditional mean variance approach. Suggests students may develop a greater appreciation of general…

Concentrating on the social dimension of human experience and existence, this book probes certain profound changes occurring in contemporary technology, economy, society, politics, and education. The author discusses four major discontinuities: (1) the impact of the new technology on the industrial structure; (2) the shift from an "international…

This document is a text for teaching economics. The book is divided into seven units. Unit 1 is called "What is Economics?" Its seven chapters discuss economics and scarcity, money, the role of the consumer, the role of the producer, capitalism and the free enterprise system, and the circular flow of the economy. The second unit is "How the United…

This student guide is intended to assist persons employed as supervisors in understanding the main sectors in the national economy. Discussed in the first four sections are the following topics: the economic system (economic decisions and types of economies), the public sector (extent and control of the public sector, finance of the public sector,…

The course for grades 10 through 12 outlined in this guide provides a study of the American system of private enterprise and the basic economic principles upon which it is based. Among the course goals are that the student will: 1) discover that the American economy, as evidenced through the free enterprise system, exist for the individual; 2)…

Designed as an accompaniment to college level macroeconomic lectures (see SO 011 937), this package contains materials for three approaches to the macroeconomics course. The course covers topics of basic macroeconomic concepts, income and expenditure determination, aggregate demand, unemployment and inflation, policy making, investment and…