Log on to http://www.federalreserve.gov/releases/ and click on Money Stock Measures-H.6. under the heading "Money Stock and Reserve Balances."

(a) Click the "about" button. What is the difference between M1 and M2?

(b) Go back one page and click current release. How fast is M1 growing?

1 How the Federal Reserve is organized.

2 The Fed's policy tools.

3 How open-market operations work.

4 How monetary stimulus or restraint is achieved.

5 How monetary policy affects macro outcomes.