University Park, IL,
30
April
2019
|
06:43 PM
America/Chicago

GSU Econ Students Visit Federal Reserve

Economics—we hear about it every day, but how much do we actually know about it? GSU's Principles of Microeconomics students recently learned the value and the history of the dollar.

The class visited the Chicago Federal Reserve Bank Money Museum to learn about the history of the Federal Reserve (Central Bank) and its connection to the worldwide economy.

The Federal Reserve's Economic Outreach department explained the role of the Federal Reserve—money supply, monetary policy, maintaining the stability of the financial system, and supervising and regulating banks—and the consumer’s role in it. The class also visited the Cash Exhibit where students saw real cash processed. Counterfeit bills, and those no longer in circulation, were shredded bagged and given to students as  free souvenirs. 

Cecil Mbolela, GSU Adjunct Professor, organized the trip. He said, “What the students saw and heard during the visit will obviously be invaluable experience if they are looking for careers in banking. Hopefully, hearing from my colleague, Ms. Cindy Ivanc-Lillig, from the Economic Outreach department, gave students the exposure they needed to understand the academic commitment required to pursue careers in financial institutions.”

For students to develop good financial goals such as saving, budgeting, investing, build good credit, manage debt, and protect personal wealth/assets, they need the right information and exposure to financial institutions.

Hopefully, through this visit, students learned that it is possible to secure financial goals of tomorrow by at least starting to develop financial future goals today.

GSU students—Kyle Legrone, Daniel Perez Paliero, Joseph Homere, Deandria Wells and Corrine Lopez—attended the tour.