Serious Play. Every day, some US$3.5 trillion dollars flow through the Federal Reserve's digital networks. This book describes the FOMC Simulation, a role-playing exercise where the participants develop expertise in economics and monetary policy. It first provides an introduction to money and the fractional reserve banking system. It then introduces the Fed's FOMC and the key role of their trading operations on Wall Street in managing the nation's money supply. It also describes the actual logistics of the simulation, including taking on the "alter ego" of a Fed Bank President. Finally, a chapter has been added that describes the relevance of "Fed Watching" to digital media and other firms.
Anthony J. Pennings, PhD teaches global media and economics at Hannam University in South Korea. Previously, he taught at St. Edwards University in Austin, Texas and was on the faculty of New York University from 2002-2012. He also taught at Victoria University in Wellington, New Zealand and was a Fellow at the East-West Center in Hawaii in the 1990s
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