Myths, tall tales, and urban legends: A lesson on the facts behind the Fed

Myth or reality: The Fed has constitutional authority. Reality! The constitutionality of central banking was established through a U.S. Supreme Court precedent. The case, McCulloch v. Maryland, 17 U.S. 316 (1819) was a landmark decision by the U.S. Supreme Court.

This active-learning lesson introduces students to common myths about the Federal Reserve and the reality behind the misconceptions. Students will evaluate statements about the Federal Reserve, using primary sources and each other to determine whether they are true or false. They circulate and survey one another in the process to pair myths and realities.
Lesson (.pdf, 114 KB)
Whiteboard (.notebook, 461 KB)