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Macroeconomics: Crash Course Economics #5

Classroom Resource Information

Title:

Macroeconomics: Crash Course Economics #5

URL:

https://www.youtube.com/watch?v=d8uTB5XorBw

Content Source:

Other
CrashCourse

Type:

Audio/Video

Overview:

This week, Adriene and Jacob teach you about macroeconomics. This is the stuff of big picture economics and the major movers in the economy--taxes, monetary policy, inflation, and policy. We need this stuff because if you don't have a big picture of the economy, crashes and panic are more likely. Of course, economics is extremely complex and unpredictable. Today we'll talk about GDP as a measure of a country's economic health, the basics of economic analysis, and even a little about full employment and unemployment.

Content Standard(s):

Social Studies
SS2010 (2010)
Grade: 12
Economics

9 ) Describe methods used to measure overall economic activity, including the Gross Domestic Product (GDP), the Consumer Price Index (CPI), inflation, and unemployment.

• Explaining how overall levels of income, employment, and prices are determined by spending decisions of households, businesses, and government; net exports in the short run; and production decisions of firms and technology in the long run

• Identifying structural, cyclical, and frictional unemployment

• Describing stages of the business cycle and how employment and inflation change during those stages

Unpacked Content

Strand: Economics, Civics and Government

Course Title: Economics

Evidence Of Student Attainment:

Students:

Determine the portion of the business cycle represented by certain economic indicators.
Identify examples of each type of unemployment.
Calculate the unemployment rate.
Calculate inflation using the CPI.

Teacher Vocabulary:

GDP
CPI
cost-push inflation
demand-pull inflation
hyperinflation
unemployment rate
Bureau of Labor Statistics
cyclical unemployment
frictional unemployment
structural unemployment
full employment
recession
expansion
peak
trough

Knowledge:

Students know:

The basic economic indicators: GDP, CPI and unemployment.
The parts of the business cycle.
The characteristics of each part of the business cycle.
The different types of inflation.
The different types of unemployment.
The types of unemployment included in full employment.

Skills:

Students are able to:

Determine the portion of the business cycle represented by certain economic indicators.
Identify examples of each type of unemployment.
Calculate the unemployment rate.
Calculate the inflation rate using the CPI.

Understanding:

Students understand that:

Each of the basic economic indicators change for specific reasons.
There are specific causes of the different types of inflation.
There are causes of each type of unemployment.
There are specific reasons that economic activity changes over time.

Alabama Alternate Achievement Standards

AAS Standard:
SS.E.AAS.12.9- Identify ways the economy is measured and activities associated with a strong economy.
SS.E.AAS.12.9a - Calculate the unemployment rate.

Tags:

economic, GDP, Gross Domestic Product, macroeconomics, monetary policy, taxes

License Type:

Custom Permission Type
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For full descriptions of license types and a guide to usage, visit :
https://creativecommons.org/licenses

Accessibility

Video resources: includes closed captioning or subtitles

Comments

This resource provided by:

Author:

Ginger Boyd

ALEX Classroom Resource

Macroeconomics: Crash Course Economics #5