HaywardEcon---AP Economics for High School Students: Unit 3 (GDP, Inflation, Unemployment)

Gross Domestic Product (GDP), Inflation, Unemployment

GDP

1. Analyze the components of the Circular Flow Diagram and use it to explain how a single purchase can influence all the Macro flows in the country

2. Describe the purpose of National Income Accounting

3. Define Gross National Product, Gross Domestic Product, Net National Product, National Income, Personal Income, and Disposable Income

4. Explain how we measure GNP and GDP
5. Explain what Goods and Services are counted in GNP and GDP as Consumption, Investment, Government Expenditures, and Net Exports
6. Compute GNP, GDP, NI, PI, and DI when given National Income Accounting data
7. Compute GNP and GDP using both the Income and Expenditure methods
8.Describe the difference between Nominal and Real GDP
9.Describe the phases of the Business Cycle
10. Identify the phases of the Business Cycle when given the appropriate economic data

Chapter 6 in the ONLINE TEXTBOOK

PowerPoint for GDP

PowerPoint Ilustrating Economic Growth vs GDP Growth

Lecture Notes for Chapter 7

View Videos for GDP

Video for GDP (HT: Jason Welker) Click HERE for Worksheet that accompanies video

Video Nominal GDP vs Real GDP. Worksheet that accompanies this video

Video for GDP (The Business Cycle).

Online Tutorials for GDP

Basics of GDP and what is included/not included

GDP--Real vs Nominal, Flow vs Stock, Formula, Implicit Price Deflator

Homework
Take online quiz for GDP
Worksheet for GDP

Inclass Promethean Board Activity

Consumption Hunter

Investment HunterGDP--Included/Not Included

Extra GDP Resources

1. BEA for GDP measurement

2. 2010 World GDP Rankings

3. How Gross State Products compare to World GDP

4. Click HERE for the latest GDP numbers

5. CLICK HERE for Interesting map which compares each U.S. States Gross State Priduct(GSP) with an equvalent GDP from a foreign country.

6. Data Visualizer

Inflation

1. Describe the purpose of a Price Index

2. Explain how a Price Index is calculated

3. Use a Price Index to calculate the rate of Inflation
4. Distinguish between Demand-Pull inflation and Cost-Push Inflation
PowerPoint for Inflation

PowerPoint "Inflation at the Movies"

Lecture Notes for Chapter 8

Online Tutorials for Inflation
Inflation and Price Level

Inflation and Consumer Price Index

View video for Inflation. Worksheet that accompanies video

Additional Videos

Caluculating Real GDP using a Price Index
Entertaining Cartoon video on Inflation

Homework

Online Quiz for Inflation

Worksheets for Inflation

Unemployment
1. Explain how Unemployment is measured in the United States
2. Calculate Unemployment and Employment Rates from appropriate data
3. Differentiate between Frictional, Cyclical, Structural and Seasonal Unemployment

PowerPoint for Unemployment

Dolan PPT--Jobs and Unemployment

Reading on Unemployment

Worksheets for Unemployment

Online Tutorials for Unemployment

Definition/Types of Unemployment

View Videos for Unemployment

Homework Due

Online Quiz for Unemployment Worksheets for Unemployment

Extra Resources on Unemployment

1. BEA page for Unemployment

2. Click HERE for a comparison of Unemployment rates to other major economies.

3. Click HERE for Unemployment rates for most of the worlds economies