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Topic: U.S. monetary policy 

Economics

 Standard 8.  Understands basic concepts of United States fiscal policy and monetary policy
  Level IV (Grade 9-12)
   Benchmark 5.Knows that monetary policy refers to actions by the Federal Reserve System that lead to changes in the amount of money in circulation and the availability of credit in the financial system
    Knowledge/skill statements
     1.Knows the meaning of monetary policy
     2.Knows that the Federal Reserve System creates monetary policy
     3.Knows that monetary policy affects the amount of money in circulation
     4.Knows that monetary policy affects the availability of credit in the financial system
   Benchmark 6.Understands that fiscal policies take time to affect the economy and that they may be reinforced or offset by monetary policies and changes in private investment spending by businesses and individuals
    Knowledge/skill statements
     1.Understands that fiscal policies affect the economy over time
     2.Understands that fiscal policies may be reinforced or offset by monetary policies
     3.Understands that fiscal policies may be reinforced or offset by changes in private investment spending by businesses and individuals
   Benchmark 7.Knows that the major monetary policy tools that the Federal Reserve System uses are open market purchases or sales of government securities, increasing the discount rate charged on loans it makes to commercial banks, and raising or lowering reserve requirements for commercial banks
    Knowledge/skill statements
     1.Knows that one of the major monetary tools that the Federal Reserve System uses is the open market purchase
     2.Knows that one of the major monetary policy tools that the Federal Reserve System uses is sales of government securities
     3.Knows that one of the major monetary policy tools that the Federal Reserve System uses is increasing the discount rate charged on loans it makes to commercial banks
     4.Knows that one of the major monetary policy tools that the Federal Reserve System uses is raising or lowering reserve requirements for commercial banks