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Virtual Economics Companion Lessons

Virtual Economics is the CD-ROM for K-12 economics and social studies teachers originally created by the National Council on Economic Education (NCEE) and the Nebraska Council on Economic Education, with a grant from the National Science Foundation. A completely updated edition, V 3.0, is now available from the NCEE.

A range of materials for economics lessons from the Federal Reserve Banks can be read or acquired via this web page. Here are some online economics lessons in Acrobat PDF format--all levels and many content areas keyed to the Nebraska Social Studies/Economics Standards. After you teach one (or many), please tell us about it on the feedback page!

More lessons by grade level are available from the Online Lessons Webpage.

Level Lesson
File Size    Lesson Description    Author
Address
Nebraska Standards National Standards
Grades: K-12 Audio/Visual Materials Bibliography 252 KB This document provides a list of videotapes, films, software and filmstrips with item descriptions. Actual media is not included on the Virtual Economics CD-ROM. In some cases, ordering information is provided. Nebraska Council on Economic Education,
Nebraska Council on Economic Education, UNL, Lincoln, NE 68506
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 4-6 My Money 516 KB A four-part series of published materials on the money most likely used by elementary school students in their financial transactions. Includes four teacher's guides and lesson plans and test. James F. Tucker and Barbara W. Garber,
Federal Reserve Bank of Richmond, Public Services Department, P.O. Box 27622 Richmond, VA 23261
NE Standards: SS 1.17
Under Revision
US Standard: Under Revision
Grades: 2-7 Wishes and Rainbows 4936 KB Children's story designed to explore the economic problems of scarce resources and society's reactions to such problems. Stephen Devaux,
Federal Reserve Bank of Boston, Public Services Department, P.O. Box 2076 Boston, MA 02106-2076
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 2-7 Road To Roota 462 KB A teacher's guide designed to accompany the comic-style booklet, "Wishes & Rainbows." Provides background information, an analysis of the economic themes in the comic book, discussion questions, a glossary of economic terms, and classroom activities. Stephen Devaux,
1981 Federal Reserve Bank of Boston, Public Services Department, Boston, MA 02016 Instructional Unit
NE Standards: SS 4.13, 4.6
Under Revision
US Standard: Under Revision
Grades: 4-8 Life of a Dollar Bill 242 KB Introduces the basic need for money, and the circular flow of resources between households, businesses, government, and financial institutions as told by Mr. Dollar Bill. Teacher's guide outlines goals, vocabulary, and discussion questions. Federal Reserve Bank of New York,
Public Information Department, 33 Liberty Street New York, NY 10045
NE Standards: SS 4.6
Under Revision
US Standard: Under Revision
Grades: 6-9 Once Upon a Dime 4783 KB Examines the development of a modern economy on a mythical island of Mazuma as it presents the basic economic concepts of specialization, barter, money, banking and inflation. C. Martinot, J. Martin, & A. Wenzel.,
Federal Reserve Bank of New York, Public Information Department, 33 Liberty Street New York, NY 10045
NE Standards: SS 8.3.5
Under Revision
US Standard: Under Revision
Grades: 6-12 Who We Are and What We Do 1213 KB Sketches the structure of the Federal Reserve System and the operations of the St. Louis Fed. Photographs, diagrams, and drawings. Federal Reserve Bank of St. Louis,
Public Information Office, P.O. Box 442, St. Louis, MO 63166
NE Standards: SS 8.3.5
Under Revision
US Standard: Under Revision
Grades: 7-12 Banking Basics 3100 KB Full color booklet answers the most common questions about banks and banking. Federal Reserve Bank - Boston,
P.O. Box 2076, Boston, MA 02106-2076
NE Standards: SS 8.3.5
Under Revision
US Standard: Under Revision
Grades: 7-12 New Global Realities 1396 KB Given its undeniable importance, globalization and its implications for the Midwest seemed a particularly appropriate theme for FRB-Chicago's first annual regional economic education conference. The conference, held in May 1991, focused on three aspects of globalization: Global Markets and the Midwest Economy; Financial Globalization; and Economic Policy Options in a Global Context: (Conference Proceedings). Tim Schilling,
Federal Reserve Bank of Chicago, Public Information Center, 230 LaSalle Street, P.O. Box Chicago, IL 60690-0834
NE Standards: SS 8.3.5
Under Revision
US Standard: Under Revision
Grades: 6-12 Basics of Interest Rates 761 KB Provides an elementary discussion on interest rates and the effect on production, employment, income, and prices. Richard D.C. Trainer,
1987 Federal Reserve Bank of New York, Public Information Department Supplementary Materials (free). 33 Liberty Street New York, NY 10045
NE Standards: SS 8.3.5
Under Revision
US Standard: Under Revision
Grades: 6-12 Who We Are and What We Do 1213 KB Sketches the structure of the Federal Reserve System and the operations of the St. Louis Fed. Photographs, diagrams, and drawings. Federal Reserve Bank of St. Louis,
Public Information Office, P.O. Box 442, St. Louis, MO 63166
NE Standards: SS 8.3.5
Under Revision
US Standard: Under Revision
Grades: 9-12 ABC's of Figuring Interest 370 KB Discusses the various ways of calculating interest and how this can affect the dollar amount paid. Gonczy: Booklet,
1994, The Federal Reserve Bank of Chicago, P.O. Box 834 Chicago, IL 60690-0834
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 9-12 Achieving Economic Stability: Lessons from the Crash of 1929 162 KB Discusses various explanations of the crash of 1929, and subsequent policy recommendations. Comparisons are made with the October 1987 stock market plunge, and it is suggested that with appropriate public policy response, the economy can remain on a stable course although not without challenges. Also useful for teaching a lesson on the history of the Great Depression. (Free) Federal Reserve Banks -Minneapolis,
1987, Public Affairs Department, 250 Marquette Avenue, Minneapolis, MN 55401-0291
NE Standards: SS 12.3.10
Under Revision
US Standard: Under Revision
Grades: 9-12 Agricultural Economics and the American Revolution 93 KB A case study fully illustrating economic principles--principles which sowed the seeds of revolution, and which perhaps remain important today. The relationships between politics, law; and economics are examined. Michael Ellerbrock,
Michael J. Ellerbrock, Virginia Polytechnic Institute & State University, Blacksburg, VA 24061-0401
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 9-12 Basics of Foreign Trade and Exchange 600 KB Provides and elementary discussion on interest rates and their effect on production, employment, income, and prices. Adam Gonnelli,
Federal Reserve Bank of New York, Public Information Department, 33 Liberty Street, New York, NY 10045
NE Standards: SS 12.2.12
Under Revision
US Standard: Under Revision
Grades: 8-12 Basics of Interest Rates 761 KB Provides and elementary discussion on interest rates and the effect on production, employment, income, and prices. Richard D.C. Trainer,
1987, Federal Reserve Bank of New York, Public Information Department, 33 Liberty Street, New York, NY 10045 Supplementary Materials (free).
NE Standards: SS 8.3.5
Under Revision
US Standard: Under Revision
Grades: 9-12 Circular Flows - A Teaching Plan 384 KB Plan traces through a series of interconnected economic and financial flows to explain the workings of the American economy. The model developed allows students to understand the effects of Federal Reserve monetary policy. Richard Trainer,
Federal Reserve Bank of New York, Public Information Department, 33 Liberty Street, New York, NY 10045
NE Standards: SS 12.2.5, 12.2.9, 12.4.17, 12.4.24
Under Revision
US Standard: Under Revision
Grades: 9-12 Debt and Deficits 485 KB Examines the national debt and deficits, looks at their size and impact, and discusses various policy measures for bringing them under control. Free. David Rosen,
1994 Federal Reserve Bank of New York, Public Information Department, 33 Liberty Street, New York, NY 10045
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 9-12 Economic Activity and Markets 231 KB Relates how the nation's economic activity is coordinated in producing the goods and services the country demands. Gary Santoni,
1995, Federal Reserve Bank of St. Louis, Public Information Department, P.O. Box 442, St. Louis, MO 63166
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 9-12 Economic Report of the President, Selected Tables 440 KB Selected tables from the Economic Report of the President, 1995, can be viewed in tabular form. To access data files for use in spreadsheet applications, note the data file name given in the table heading, and retrieve from the statistics directory. USGPO,
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 9-12 Free Enterprise, the Economy and Monetary Policy 2590 KB Full color booklet which describes the role of free enterprise in our economy. Federal Reserve Bank of Dallas,
Public Affairs Department, 2200 N. Pearl Street, Dallas, TX 72501-2272
NE Standards: SS 12.4.17
Under Revision
US Standard: Under Revision
Grades: 10-12 Glossary of Federal Reserve Terms 102 KB Public understanding of the responsibilities of the Federal Reserve System is sometimes made difficult by the terms used in discussing the financial system. Some of the terminology relates to general economic concepts; some originates in banking;and some relates uniquely to the Federal Reserve. Federal Reserve Board of Governors,
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 9-12 Great Economists and Their Times 80 KB Booklet outlines the evolution of economic thought. A timeline from 1730 to 1980 which cites general historical events is included K. Glamme, M. Hendricks, & D. Oden,
Federal Reserve Bank of San Francisco, Public Information Department, P.O. Box 7720, San Francisco, CA 49120-7702
NE Standards: SS 12.1.5, 12.1.9
Under Revision
US Standard: Under Revision
Grades: 9-12 How Banks Create Money 476 KB This module explains how the U.S. banking system uses excess reserves to create money in the form of new deposits for borrowers. Lyndi Beale,
Federal Reserve Bank of San Francisco, Public Information Department, P.O. Box 7702, San Francisco, CA 94120
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 10-12 How to Establish And Use Credit 60 KB Discusses how to qualify for credit and use it wisely. Martha Skoog,
Federal Reserve Bank of Philadelphia, Public Information, Department/Publications, P.O. Box 66, Philadelphia, PA 19105-0066
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 9-12 International Trade and the Economy 2346 KB Full color booklet which discusses the basics of international trade. Federal Reserve Bank of Dallas,
Public Affairs Department, 2200 N. Pearl Street, Dallas, TX 72501-2272
NE Standards: SS 12.4.17, 12.4.23
Under Revision
US Standard: Under Revision
Grades: 9-12 Key To the Gold Vault 3752 KB Unlocks some of the mysteries of gold, exposes its glamorous past, and reveals the work-a-day operations of the New York Fed's gold vault. (free up to 50 copies). Dorthy Hamburg-Groppe,
1991 Federal Reserve Bank of New York, Public Information Department, 33 Liberty Street, New York, NY 10045
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 9-12 Labor, The Economy, and Monetary Policy 2111 KB Full color booklet which describes the labor market in relation to the national economy. Federal Reserve Bank of Dallas,
Public Affairs Department, Station K, Dallas, TX 75222
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 9-12 Lending Discrimination and the Community Reinvestment Act 692 KB The Resource Packet is divided into seven sections. Sections I and II present writing guidelines and specific contest rules. Sections III, IV and V describe the major issues involved with lending discrimination and CRA. Sections VI and VII offer information on the Federal Reserve System and an extensive glossary and bibliography. Federal Reserve Bank of Minneapolis,
Public Affairs Department, 250 Marquette Avenue, Minneapolis, MN 55401-0291
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 9-12 M x V = Spending 217 KB This document is designed to accompany a video of a computer-animated pinball machine to show how changes in the money supply and the velocity of money (how quickly money is spent in a period of time) affect overall spending in the economy. Lyndi Beale,
Federal Reserve Bank of San Francisco, Public Information Department P.O. Box 7702 San Francisco, CA 94120
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 7-12 New Global Realities 1396 KB Given its undeniable importance, globalization and its implications for the Midwest seemed a particularly appropriate theme for FRB-Chicago's first annual regional economic education conference. The conference, held in May 1991, focused on three aspects of globalization: Global Markets and the Midwest Economy; Financial Globalization; and Economic Policy Options in a Global Context: (Conference Proceedings). Tim Schilling,
Federal Reserve Bank of Chicago, Public Information Center, 230 LaSalle Street, P.O. Box Chicago, IL 60690-0834
NE Standards: SS 8.3.5
Under Revision
US Standard: Under Revision
Grades: 9-12 A Resource for Economic Educators from the Federal Reserve Bank of Chicago 1977 KB Explores economic or consumer education topics, suggests supplemental reading materials and teaching activities, and relates news of regional economic education programs. Federal Reserve Bank of Chicago,
Public Information Center, 230 South LaSalle Street, Chicago, IL 60690-0834
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 9-12 Relevance of Adam Smith 154 KB Uses quotations from The Wealth of Nations to illustrate how Adam Smith's major ideas are still widely used. Robert L. Hetzel,
Federal Reserve Bank of Richmond, Public Services Department, P.O. Box 27622, Richmond, VA 23261
NE Standards: SS 12.1.5 12.4.9 12.4.16 12.4.20
Under Revision
US Standard: Under Revision
Grades: 9-12 RISK-IT! 86 KB Jeopardy-Style game which reviews terminology central to money, banking and the Federal Reserve System. Federal Reserve Bank of Minneapolis,
Public Affairs Department, 250 Marquette Avenue, Minneapolis, MN 55401-0291
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 9-12 Rural America in Transition 327 KB Explores the economic change underway in rural America today and reviews the policy alternatives for dealing with this change. Mark Drabenstott & Lynn Gibson,
1988 Federal Reserve Bank of Kansas City, Public Affairs Department, 925 Grand Avenue, Kansas City, MO 64198-0001
NE Standards: SS 12.2.9
Under Revision
US Standard: Under Revision
Grades: 9-12 Spending - X x P Module 171 KB This module explores the relationship between total spending in the economy, production, and prices. It illustrates how increases in spending generate increases in production when the economy is producing below capacity. At capacity, output cannot grow. At this point, increases in spending can only show up as higher prices or inflation. Lyndi Beale,
Federal Reserve Bank of San Francisco, Public Information Department, P.O. Box 7702, San Francisco, CA 94120
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 9-12 Too Much, Too Little 2232 KB Teacher's guide designed to accompany a video which explains how the Unites States has dealt with the issue of the appropriate amount of money for the economy and reviews the events that led to the establishment of the Federal Reserve System. Ask for the 25-minute VHS videocassette. Federal Reserve Bank of New York,
Public Information Department, 33 Liberty Street, New York, NY 10045
NE Standards: SS
Under Revision
US Standard: Under Revision
Grades: 6-12 Who We Are and What We Do 1213 KB Sketches the structure of the Federal Reserve System and the operations of the St. Louis Fed. Photographs, diagrams, and drawings. Federal Reserve Bank of St. Louis,
Public Information Office, P.O. Box 442, St. Louis, MO 63166
NE Standards: SS 8.3.5
Under Revision
US Standard: Under Revision
Grades: 9-12 Your Money and the Federal Reserve System 4395 KB Federal Reserve System of Minneapolis,
1982, Public Affairs Department, 250 Marquettet Avenue, Minneapolis, MN 55401-0291
NE Standards: SS
Under Revision
US Standard: Under Revision

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