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Standard and Short Edition:
1 American Political Culture
2 The Founding and the Constitution
3 Federalism
4 Civil Liberties
5 Civil Rights
6 Public Opinion
7 The Media
8 Political Participation and Voting
9 Political Parties
10 Campaigns and Elections
11 Groups and Interests
12 Congress
13 The Presidency
14 Bureaucracy In A Democracy
15 The Federal Courts
16 Government and Economy
17 Social Policy
18 Foreign Policy and Democracy
Texas Edition:
19 The Political Culture, People, and Economy of Texas
20 The Texas Constitution
21 Parties and Elections in Texas
22 Interest Groups, Lobbying, and Lobbyists
23 The Texas Legislature
24 The Texas Executive Branch
25 The Texas Judiciary
26 Local Government in Texas
27 Public Policy in Texas

Chapter 16: Government and Economy

What Government Does and Why It Matters

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Go to http://www.federalreserve.gov/policy.htm and look at the policy tools available to the Federal Reserve Board. 
  1. Discuss the three policy tools the Fed has at its disposal.

  1. Read this article by Paul R. La Monica http://money.cnn.com/2006/06/29/news/economy/fed_brainstorm/index.htm and explain his argument on the limitations of the Fed. 

  1. Read this Christian Science Monitor article by Mark Trubull at http://www.csmonitor.com/2006/0131/p01s04-usec.html and explain his position on the power of the Fed.

  1. In your opinion, how much power over the economy does the Fed have?

  1. Trubull argues that “price stability is Job 1.” Given that the economic policies of this country have given enormous benefits to the wealthy but relatively few to the poor and middle class, do you agree with Trubull that government economic policy has been a success?

  1. In your opinion, what should be “job 1?”



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