Indiana Social Studies GE.6.4
The Standard
Describe the structure and functions of the Federal Reserve System.
2026 Indiana Academic Standards: K-12 Social Studies
Teacher's field guide
What This Standard Means
What Students Need to Do
- Students identify the Board of Governors, 12 regional Reserve Banks, and the Federal Open Market Committee. They explain how these parts set interest rate policy, oversee banks, and help move money through the banking system.
What Mastery Looks Like
- A student can sketch how the three parts fit together and give a job for each. They can explain why the Federal Open Market Committee might raise its target interest rate when inflation is high.
Common Misconceptions
- Students may think the Federal Reserve is a single bank that gives loans to households. They may also think it sets every bank's loan rate or that regional Reserve Banks compete for customers.
How to Assess It
- On an exit ticket, ask students to name the Board of Governors, regional Reserve Banks, and Federal Open Market Committee, give one job for each, and identify which sets interest rate policy.
Lesson moves
Ways to Teach It
Use sticky notes to build a wall chart linking the Board of Governors, 12 regional Reserve Banks, and Federal Open Market Committee to their jobs.
Ask students to write two sentences answering: Why might the Federal Open Market Committee raise its target rate when prices are rising quickly?
Play Fed or Not Fed with cards naming check clearing, bank supervision, household mortgage approval, and setting sales tax rates.
Read a recent Federal Open Market Committee statement and underline its rate decision, stated reason, and one possible effect on car loan rates.
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Printable GE.6.4 Worksheet
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Related Standards
- 5.C.5
Identify the three branches of the United States government, and explain the functions of each.
- GE.7.5
Analyze how the Federal Reserve uses monetary policy to promote price stability, full employment, and economic growth.
- GE.6.3
Demonstrate how banks create money through the principle of fractional reserve banking.
- GE.5.1
Explain the role of the Federal Reserve in the U.S. economy, as well as the functions of its counterparts in other countries.
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