Lucy Malakar

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Business Division
Lorain County Community College

Materials Contributed through SERC-hosted Projects

Activity

We Buy Anything: an in-class activity demonstrating the Fed's response to the financial crisis of 2008 part of Starting Point: Teaching and Learning Economics:Starting Point: Economics in Two-Year Colleges:Activities
This activity engages students and underscores how quickly and dramatically the Federal Reserve System responded to the financial crisis of 2008. By having students assume the role of various economics players: from commercial banks to foreign governments, this activity highlights how the Fed's operations changed during the crisis. Since the crisis and the adoption of a 0% Federal Funds Rate target, the Fed has shifted toward 'balance sheet' policies.

Other Contribution

Understanding Unemployment: a classroom activity to calculate the unemployment rate and other labor force metrics part of Starting Point: Teaching and Learning Economics:Starting Point: Economics in Two-Year Colleges:Activities
This simple activity gets students out of their seats and talking to each other while illustrating how the national unemployment rate and the civilian labor force participation rate are calculated. Through small group interaction and class discussion, students gain a better understanding of who is and who is not considered to be in the labor force and who is counted as being unemployed. Initially, students break into three groups and assume the role of various economic citizens: from the fully employed to the imprisoned. Once the entire class is reconvened, the metrics are calculated and topics such as discouraged workers, underemployment and reasons why the official unemployment rate may be underestimated are discussed.