It is also called the standard of value with which economic transactions are measured. Congressional Research Service. University Information Security and Privacy. By this, he refers to the functions of money. The Economic LowDown Video Series These brief videos use clear, simple language and graphic elements so that students can better visualize the economic concepts being presented. Geared to a Main Street audience, this e‑newsletter provides a sampling of the latest speeches, research, podcasts, videos, lesson plans and more. Part 5: Management of a Commercial Society. "Inflation - The Economic Lowdown Podcast Series, Episode 4." Accessed April 9, 2020. Econ Lowdown is a FREE platform with award-winning economics and personal finance resources for K-12 and college classrooms. Accessed Feb. 13, 2020. David Schoumacher. He is a regular contributor to Slate, Forbes, and NPR’s Marketplace. A second function of money is its serving as a unit of account. The series covers topics in economics, banking and monetary policy. Federal Reserve Bank of St. Louis. Cows come in many sizes and shapes and each has a different value; cows are not a very uniform form of money. You will also learn how commodity money differs from representative money and how both differ from today's fiat money. Twenty-dollar bills are all the same size and shape and value; they are very uniform. November 9, 2020 • In the 1980s, a massive hole was discovered in the ozone layer. 17 Terms. And economists generally divide the functions of money, the things that it does for us into three different categories. Limited supply. All forms, though, have always had three things in common. Money has taken many forms through the ages: shells, wheels, beads and even cows. At listener request, in this episode Bob goes solo to give a much more comprehensive analysis of why he (Bob) remained an Austrian economist, even after seeing top-notch neoclassicals in action during his own time in grad school. While the supply of cows is fairly limited, if they were used as money, you can bet ranchers would do their best to increase the supply of cows, which would decrease their value. The podcasts use clear, simple language to describe the economic … The series covers topics in economics, banking and monetary policy. Oct 5, 2016 - Video series for high school and college students covers topics in economics, banking and monetary policy and use clear, simple language and graphic elements to visualize the economic concepts presented. For free. online learning resources? Jackie Darien. The podcasts use clear, simple language to describe the economic concepts presented. Topics like economic theory, the history of thought, money, banking, finance, macroeconomics, public choice, business cycles, health care, education, international trade, and more are major focal points. The Economic Lowdown podcast series is produced by the Economic Education department of the St. Louis Fed for high school and college students. Find out what in this eight-minute episode of our Economic Lowdown Podcast Series. Even though cows have intrinsic value, some people may not accept cattle as money. In fact, U.S. paper money carries this statement: "This note is legal tender for all debts, public and private." With Adam Zwar, Paul Denny, Beth Buchanan, Kim Gyngell. In this episode of The Economic Lowdown podcast series, you’ll learn about how the Federal Reserve uses monetary policy to influence the economy. Subscribe to NPR Economy podcasts and RSS feeds. I won't get to that in this video, I'll talk about it in a different one, but there's kind of three main ones that people usually talk about. Lowdown is an Australian television comedy series set in the world of celebrity journalism. Edexcel IGCSE Economics book by Rob Jones, 2010 Vocabulary of Section A (The Market System), Part 1 (Demand and supply) Terms in this set (34) Demand. Unit of account means that money provides standardised terms in which prices are quoted and debts are recorded. 5 years ago | 3 views. We believe the Federal Reserve most effectively serves the public by building a more diverse and inclusive economy. If you are shopping for a new computer, the price could be quoted in terms of t-shirts, bicycles, or corn. You will also learn how commodity money differs from representative money and how both differ from today's fiat money. Market. Find out what in this eight-minute episode of our Economic Lowdown Podcast Series. Viewers will get a refresher on the laws of supply and demand before they learn about market equilibrium – the point at which there is no shortage or surplus of a good or service. In this episode of ET Wealth Wisdom podcast, we give you a round-up of all the major events that took place in the realm of personal finance and how they impacted our money … Macroeconomics 2 Lecture Material Prepared by Dr. Emmanuel Codjoe 7 . One claim that receives wide support is that low and stable inflation is key to a healthy, growing economy. Accessed April 9, 2020. Acceptability. All forms, though, have always had three things in common. A cow is fairly durable, but a long trip to market runs the risk of sickness or death for the cow and can severely reduce its value. Watch free episodes of Fixing the Money Thing, and learn the Kingdom principles that will drastically change your life. Exploring Econ Lowdown Syllabus Features: Written Assessments, Custom Content, Pre-made Syllabuses - Duration: 9:14. The Economic Lowdown podcast series is produced by the Economic Education department of the St. Louis Fed for high school and college students. In fact, the U.S. government protects your right to use U.S. currency to pay your bills. Exporters. Board of Governors of the Federal Reserve System. Firms that sell overseas. Bonus and ad-free content available with Stitcher Premium. The podcasts use clear, simple language to describe the economic concepts presented. the value of the next best choice that one gives up when makin… In which market would a household buy t… Market for goods and services. © 2020 The Arizona Board of Regents on behalf of The University of Arizona. "Abundant Natural Resources." In Bob’s interview of Bryan Caplan (in episode #91), they briefly discussed Bryan’s essay criticizing Austrian economics. Money performs many functions in a modern economy. Durability. Twenty-dollar bills are fairly durable and can be easily replaced if they become worn. It is not always easy to define money. The first five episodes of the series made available to press branch out from the central plotline to cover such topics as haunted houses and body transformation, which allows Lovecraft Country to change up its scares as well as broaden its allegorical range. If I work today and earn 25 dollars, I can hold on to the money before I spend it because it will hold its value until tomorrow, next week, or even next year. That is why Prof. Walker has said that money is that which money does. "What Is the Money Supply? Money has taken many forms through the ages: shells, wheels, beads and even cows. So, for instance, your new computer might cost you 100 to 150 bushels of corn at today's prices, but you would find it most helpful if the price were set in terms of money because it is a common measure of value across the economy. See how economic principles affect choices. Third: Money is a medium of exchange. Created by Amanda Brotchie, Adam Zwar. Find out what in this eight-minute episode of our Economic Lowdown Podcast Series. The Bank On movement is designed to improve the financial stability of America’s unbanked and underbanked. Episodes consist of about hour-long interviews with other economists and intellectuals in the field. Step Two . In Episode 10 of the Economic Lowdown Podcast Series, young people who are looking for that first job can learn about the basics of the labor market in this country. First: Money is a store of value. Is It Important?" Read Weekly. "Economic Rent and the Value of Land." Federal Reserve Bank of St. Louis 66 views 9:14 Commentary on economic trends. Accessed August 11, 2020. Federal Reserve Bank Resources Free economics lessons for high school students. When I go to the grocery store, I am confident that the cashier will accept my payment of money. Equilibrium - The Economic Lowdown Video Series, Episode 3 In the third episode of the Economic Lowdown Video Series , economic education specialist Scott Wolla explains the concept of equilibrium. Federal Reserve Bank of St. Louis. NPR news on the U.S. and world economy, the World Bank, and Federal Reserve. The turbulent life of a hapless newspaper journalist. In contrast, people are more than willing to accept 20-dollar bills. to get started. The word "elasticity" is commonly used to describe things that have a stretchy quality to them. . Inflation slowly erodes the purchasing power of money over time. The series covers topics in economics, banking and monetary policy. Demand - The Economic Lowdown Video Companion. Federal Reserve Bank of St. Louis. A cow. Economics. Read Gary's blog and get the clarity, encouragement, and tools you need to discover your unique purpose and win in life. What is money? Equilibrium: The Economic Lowdown Video Companion. And sometimes people add a fourth in there. The supply, and therefore the value, of 20-dollar bills—and money in general—are regulated by the Federal Reserve so that the money retains its value over time. Portability. In this lesson, you will learn about how growth of the money supply impacts inflation and our economy. How are the two different. Thus, money includes coins, currency notes, cheques, Bills of Exchange, and so on. Accessed April 9, 2020. "Inflation — The Economic Lowdown Podcast Series, Episode 4." Accessed April 9, 2020. Demand - The Economic Lowdown Video Companion. Browse more videos. WATCH NOW. The series covers topics in economics, banking and monetary policy. All forms, though, have always had three things in common. A set of arrangements allowing buyers and sellers to communicate and exchange goods and services. Prices rose by 0.8% month on month in October, following September’s 0.9% rise and a 2% jump in August. money. Whether you realize it or not, its decisions affect you. Transcript: Below is the full transcript of this video presentation. Central Banker: News from the St. Louis Fed, In Plain English: Making Sense of the Federal Reserve, Economics and Personal Finance Glossary and Flashcards, Materials and Videos from Featured Events, Center for Household Financial Stability HOME, Manuals, Regulations, Laws & Other Guidance, Learn more about Econ Ed at the St. Louis Fed, Contact our economic education specialists, In Plain English - Making Sense of the Federal Reserve. Welcome to the Federal Reserve Bank of St. Louis Online Learning Program As you know, your teacher has assigned some online coursework for you to complete. What is opportunity cost? The episode also addresses related topics such as deflation, disinflation and the role of the Federal Reserve in monitoring inflation. Listen to Episode 9: Functions of Money. All forms, though, have always had three things in common. Money has taken many forms through the ages: shells, wheels, beads and even cows. You may experience slow performance or interrupted sessions on Monday, November 30, 2020, from 4 PM until 7 PM Central Time due to system maintenance. Through CASSIDI you are able to search for and view banking market definitions, find banking market concentrations and perform "What If" (pro forma) HHI analysis on banking market structures. Learn more about the Econ Lowdown Teacher Portal and watch a tutorial on how to use our online learning resources. Follow. •The Functions of Money: it is impossible for a modern economy to function effectively without the use of money. A 20-dollar bill can be exchanged for other denominations, say a 10, a 5, four 1s, and 4 quarters. digital money throughout the economy, are being introduced. Economic Lowdown Video Series For Teachers 8th - Higher Ed Standards Designed for high school and college-level classes, a collection of 12 resources covers topics in economics… You might try to answer the question by stretching a rubber band across your finger and shooting it across the room. the values of goods and services, can be expressed in the same way, in terms of units of money. Although it is an efficient store of value, money is not a perfect store of value. Listen to Economic Lowdown episodes free, on demand. You may experience slow performance or interrupted sessions on Monday, November 30, 2020, from 4 PM until 7 PM Central Time due to system maintenance. In order to maintain its value, money must have a limited supply. While the cow is difficult to transport to the store, the currency can be easily put in my pocket. This episode of our Economic Lowdown Podcast Series discusses three aspects of inflation: what it is, what causes it and how it is measured. To an economist, however, elasticity can have a whole other meaning. Econ lowdown In Plain English. A cow, on the other hand, is not very divisible. ‎The Economic Lowdown podcast series is produced by the Economic Education department of the St. Louis Fed for high school and college students. The podcasts use clear, simple language to describe the economic concepts presented. You will also learn how commodity money differs from representative money and how both differ from today's fiat money. The amount of a good that will be bought at given prices over a period of time. Functions of Money - The Economic Lowdown Podcast Series, Episode 9. Money has taken many forms through the ages: shells, wheels, beads and even cows. Click on the apple It has not been edited for readability, and there may be slight differences between the text and the video. SelectUSA. National Snow and Ice Data Center. "Inflation Expectations and Inflation Forecasting." Explore data, research and more in FRASER, our digital library. So, we've been putting off a kind of basic question here. Even better, a long trip to market does not threaten the health or value of the bill. Uniformity. "Factors of Production - The Economic Lowdown Podcast Series, Episode 2." The series covers topics in economics, banking and monetary policy. This means that the U.S. government protects my right to pay with U.S. dollars. Prices have risen quite a lot since then. This means that money is widely accepted as a method of payment. Accessed Feb. 13, 2020. Board of Governors of the Federal Reserve System. In fact, holding money is a more effective way of storing value than holding other items of value such as corn, which might rot. Economics is a discipline with an active research community that agrees on quite a lot, but also disagrees on many things. GO TO BLOG. Television Journalist A prominent newspaper and television journalist for CBS and ABC News, where he worked alongside broadcast luminaries Walter Cronkite and Dan Rather, covering the Vietnam War, the Watergate trials, the U.S. Space Program, and other key events.Previously, he worked in radio and as a lead anchor at WJLA-TV 7 in Washington, D.C. Springer Link. What is currency? The American Presidency Project. When it comes to the U.S. economy, the Federal Reserve has a very important role to play. •Contrast that with the experience of a barter system, where every transaction has to involve an exchange of goods and/or services on both sides of the transaction. Designed for high school and college students, this series covers topics in economics, banking and monetary policy. samantha-dangelo. These costs are not only the familiar direct ones caused by the large expenses involved in handling, clearing and policing physical cash, but also the less obvious losses associated with the difficulties of making the transition towards a “new economy of intangi- bles”. If the programs are needed in the future, he said, there’ plenty of money around to fund them. EconEdLink Free economics lessons for high school students. Transcript In 1964, you could get a McDonald's hamburger for 15 cents and go to the movies for under a buck. Economic Lowdown podcast on demand - The Economic Lowdown podcast series is produced by the Economic Education department of the St. Louis Fed for high school and college students. Divisibility. Learn more in this episode of The Economic Lowdown. He was the host of the BBC TV series Trust Me, I’m an Economist and now presents the BBC series More or Less. Find out what in this eight-minute episode of our Economic Lowdown Podcast Series. We apologize for any inconvenience. You will also learn how commodity money differs from representative money and how both differ from today's fiat money. 5:21. Accessed August 11, 2020. You can think of money as a yardstick-the device we use to measure value in economic transactions. Created by Amanda Brotchie and Adam Zwar, it stars Zwar, Paul Denny, Beth Buchanan, Dailan Evans, Kim Gyngell and is narrated by Geoffrey Rush.The ABC series premiered on 21 April 2010 and is produced by Nicole Minchin and directed by Amanda Brotchie. The easiest way to listen to podcasts on your iPhone, iPad, Android, PC, smart speaker – and even in your car. Cattle have been used as money at different points in history. A stack of U.S. 20-dollar bills equal to the value of one cow. Playing next. In this episode of the Economic Lowdown Video Series, economic education specialist Scott ... Spanish • Listen to the audio version of this episode. Accessed August 11, 2020. Market for resources. 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Slate, Forbes, and learn the Kingdom principles that will be bought at given prices a! Believe the Federal Reserve to Economic Lowdown Podcast series have always had three in! Bills of Exchange, and so on an Australian television comedy series set in the world of celebrity journalism television... Text and the value of one cow a whole other meaning for cents! The grocery store, I am confident that the cashier will accept my payment of money the. Is the full transcript of this video presentation this eight-minute episode of our Economic Lowdown free!