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Integrating graphing assignments into a money and banking course using FRED

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  • James Staveley-O'Carroll

Abstract

Over the course of one semester, six empirical assignments that utilize FRED are used to introduce students of money and banking courses to the economic analysis required for the conduct of monetary policy. The first five assignments cover the following topics: inflation, bonds and stocks, monetary aggregates, the Taylor rule, and employment. Students learn to gather and analyze data using the concepts and theories covered during lectures. The sixth homework is a short paper in which students synthesize the data from the previous assignments to make a policy recommendation for the upcoming Federal Open Market Committee meeting. The overarching purpose of this exercise is to prepare students for the College Fed Challenge, and, more generally, to introduce them to economic data and policy analysis.

Suggested Citation

  • James Staveley-O'Carroll, 2018. "Integrating graphing assignments into a money and banking course using FRED," The Journal of Economic Education, Taylor & Francis Journals, vol. 49(1), pages 72-90, January.
    • Handle: RePEc:taf:jeduce:v:49:y:2018:i:1:p:72-90
    DOI: 10.1080/00220485.2017.1397573
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    Cited by:

    1. Karla Borja & Suzanne Dieringer, 2023. "Telling My Story: Applying Storytelling to Complex Economic Data," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 49(3), pages 328-348, June.
    2. Philip Gunby & Stephen Hickson, 2016. "Is Cash Dead? Using Economic Concepts To Motivate Learning and Economic Thinking," Working Papers in Economics 16/30, University of Canterbury, Department of Economics and Finance.
    3. Wolfe, Marketa Halova, 2020. "Integrating data analysis into an introductory macroeconomics course," International Review of Economics Education, Elsevier, vol. 33(C).
    4. Sara Gundersen & Allison Shwachman Kaminaga, 2022. "Presentations To The President: A Role-Play Assignment For A Macroeconomics Principles Class," Journal of Economics Teaching, Journal of Economics Teaching, vol. 7(3), pages 185-199, October.
    5. Mendez-Carbajo, Diego & Dellachiesa, Alejandro, 2023. "Choice of data visualization tool: FRED or spreadsheets?," International Review of Economics Education, Elsevier, vol. 44(C).
    6. Philip Gunby & Stephen Hickson, 2020. "Cashless Economies, Data Analysis, and Research-Based Teaching: The Versatility of the Velocity of Money for Teaching Macroeconomics," Working Papers in Economics 20/07, University of Canterbury, Department of Economics and Finance.

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