Video Resource: How Does Wall Street Influence The Economy?
As my earlier post indicated, earlier today I stumbled across a set of 20 educational videos called We The Economy. Notably each film has been created by an acclaimed film maker with the goal of making the economy more understandable. I will be reviewing more of these videos over the next several weeks and highlighting those that I think are most pertinent to a personal finance/financial literacy course.
A question that I often get from students is “How does Wall Street (or the Stock Exchange) work and why should I care?” In The Street (video with 9:23 run time) and companion guide), students will learn:
- The location, Wall Street, as well as the larger idea of what Wall Street represents and the interplay with Main Street
- Learn how stock markets have changed over time (hint: fewer traders and more machines)
- Understand the role of investment banks in matching savers to entrepreneurs
- Get a behind-the-scenes look at what it means to be a financial reporter at CNBC and Bloomberg TV.
Check out the NGPF Lesson on Investing Basics
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.