My video lesson

[Christie Byun]

Dear All,

Here is my video lesson attempt using Educreations.. It shows Federal Reserve's expansionary monetary policy and the effect on AD/AS. It's long, at 10+ minutes.

Best,
Christie

http://www.educreations.com/lesson/view/federal-reserve-monetary-policy-lesson/9192805/?s=UX5o6p&ref=app

[Ed McKelvey]

Christie,

Nice job. It starts off a bit slowly but you develop a nice rhythm
throughout most of the lesson, which I think largely justifies the length.
The segmentation of the presentation into three parts--money market,
investment demand, and AS/AD model also helps in this regard as does your
clear speaking voice and style of presentation. In terms of the video
technology, I particularly like how you drop in the printed labels as you
explain axes, curves, and points on your charts as these were easy to read
yet maintained the "real time" nature of the lesson.

At the end, I think it would have helped to summarize with a quick list of
the sequence of items covered: monetary expansion => Fed buys bonds => Money
supply increases => interest rates fall => investment rises => AD shifts to
the right => GDP goes up. You started to do this in the brief reference to
monetary contraction, which I think would have been more effective with this
summary ahead of it.

In terms of content, my main suggestion would be to define "money" more
precisely. I realize that a certain amount of ambiguity on this point helps
keep matters simple, but some students might wonder why a savings account
doesn't count as "money" (and indeed it does for M2). And, depending on the
course--money and banking or intermediate macro on the one hand vs. Econ 101
on the other--the notion that the Fed determines the money supply would be
subject to challenge for anything other than the monetary base.

Ed McKelvey
Visiting Professor of Economics
Oberlin College
440-775-8857

210 Rice Hall
10 North Professor Street
Oberlin, Ohio 44074

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[Joyce Burnette]

I liked the challenge at the end to go through the graphs for contractionary policy. This is a good check to see if they understood.

How did you get the typed labels to appear? Did you pause and type them in?

Joyce

________________________________________
From: econe...@googlegroups.com [econe...@googlegroups.com] on behalf of Christie Byun [by...@wabash.edu]
Sent: Tuesday, July 09, 2013 3:55 PM

To: econe...@googlegroups.com
Subject: My video lesson

Dear All,

Best,
Christie

http://www.educreations.com/lesson/view/federal-reserve-monetary-policy-lesson/9192805/?s=UX5o6p&ref=app

--

[Amyaz Moledina]

Dear Christie,

I think this is a really nice and polished video. I like the typewritten axis and live titles, although the axis and some of the text could be pre-prepared in each slide. Nevertheless, it is neat.

I agree with the points that Ed makes. Ultimately though, this is going to come down to what and how you teach, the level of the class, and your point of view. We may also differ on how early on in the sequence of courses we want to be precise. When I explain money, I prefer to use the transactions motive, (so r is the opportunity cost of holding money for transactions). I also like to use language that says the Fed is targeting rates to affect money supply and limit the use of the word "control". This allows me to talk about the role of banks in the money "creation" process and other channels in Intermediate Macro. and beyond.

Finally, how does one make the cognitive jump from an increase in I to an increase in Y ( at about 8:40)? Why is not a movement along the AD curve? I have found my students often get stuck here. So, it helps to say that "for a given price level, because I increased and Y=C+I+G is given, Y increases". Again if you had explained this in class (or if you had said changes in policies are shifts), it would not be an issue. It would be interesting to hear if your students are just as confused about movements along the curve and shifts.  

I like Eds suggestion about a summary in the end. May I suggest a preview of the argument in the first slide. This can be followed with titles on each slide showing the progress through the lecture.

But all in all, I still think this is excellent and I will use it.

Cheers,

AM

[Christie Byun]

Hi Ed,

Thanks for the comments and suggestions. I think it took me around 3-4 tries before I got the (relatively) clean take that I sent out. And right after I stopped recording, I realized I should have done a summary of the lesson on one last slide, before moving onto the suggestion that the viewer go through a contractionry monetary policy exercise to practice the concepts. I will definitely put that into a new version. Anyone know if you can go back and edit a finished lesson?

Joyce, to get the text to appear on the screen, I hit the Pause button to stop the recording, then typed in the text, then resumed the recording again.

Christie


________________________________________
From: Ed McKelvey [emck...@oberlin.edu]
Sent: Wednesday, July 10, 2013 2:54 PM
To: Christie Byun; econe...@googlegroups.com
Subject: RE: My video lesson

[Ed McKelvey]

It was hard to tell that you paused. I wondered if that's how you did it.

Unfortunately you cannot edit a lesson in educreations once you save it. One of their people confirmed that for me. I think that's a major flaw. They're thinking of changing it.

Ed McKelvey
Visiting Professor of Economics, Oberlin College

440-775-8857

210 Rice Hall
10 North Professor Street

Oberlin, Ohio. 44074