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PODCASTS IN THE CLASSROOM

Podcasts in the Classroom - A Nobel Prize We Can Understand

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One Minute:

• 10/11 Marketplace Minute introduces the winners as Ben Bernanke, Douglas Diamond and Philip Dybvig with a brief summary of their findings.

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Three Minutes:

• 10/10 Marketplace Report gives more detail on their work on financial crises and particularly bank runs, the role of banks and deposit insurance.

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Ten Minutes:

• 10/11 The Indicator from Planet Money details the work of Bernanke in particular and how he put his work into practice during the Great Recession.

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PODCASTS IN THE CLASSROOM

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Discussion Questions

• What historical event did these three economists study? What was the general finding the three came up with? How has Federal Deposit Insurance changed things?
• How has the work of these three individuals helped prevent subsequent financial crises from turning into another Great Depression?
• Can you explain the role of banks in terms of bridging the different time horizons of depositors and borrowers? What other important role do banks play in the world of credit?
• What tool did Bernanke implement during the Great Recession to keep things from getting worse? Has Powell followed the same playbook during the Pandemic?

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